MIRA INFORM REPORT

 

 

Report No. :

330804

Report Date :

07.07.2015

 

IDENTIFICATION DETAILS

 

Name :

GUJARAT POLYFILMS PRIVATE LIMITED

 

 

Registered Office :

Block No. 492, N.H. No. 8, Palsana, Surat-394315, Gujarat

Tel. No.:

91-29622-265146

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

19.07.2004

 

 

Com. Reg. No.:

04-044479

 

 

Capital Investment / Paid-up Capital :

Rs.226.274 Million

 

 

CIN No.:

[Company Identification No.]

U17297GJ2004PTC044479

 

 

IEC No.:

5204009248

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

SRTGO1179D

 

 

PAN No.:

[Permanent Account No.]

AACCG1781D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of nylon FDY yarn

 

 

No. of Employees :

400 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established private limited company incorporated in the year 2004, having satisfactory track.

 

As per financials of 2014, general financial position of the company seems to be sound.

 

Further from indirect sources, we found that company has achieved total operating income of Rs.2175.800 Million.

 

Further company has achieved fair Net profit margin in FY14 over previous year.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and condition.

 

(Note: Partial Information (total operating income) has been taken i.e. from indirect source i.e. CARE ratings.

 

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

CARE

Rating

Long Term Bank Facilities = BBB - (SO)

Rating Explanation

Moderate degree of safety and moderate credit risk

Date

13 November, 2014

 

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities = A3 (SO)

Rating Explanation

Moderate degree of safety and high credit risk

Date

13 November, 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 31-03-2013.

 

INFORMATION PARTED BY

 

Name :

Mr. Amit Patel

Designation :

Accountant

Contact No.:

91-9824752103

Date :

04.07.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Block No. 492, N.H. No. 8, Palsana, Surat-394315, Gujarat, India

Tel. No.:

91-2622-265146//164/9824752455/9824752103

Mobile No.:

91-982452103 (Mr. Amit Patel)

Fax No.:

91-2622265164/265577

E-Mail :

info@caplon.in

acc@caplon.in

sbmgandco@gmail.com 

Website :

http://www.caplon.in

Location :

Owned

 

 

Sales and Marketing Office :

203, Shyam Chamberss, Opposite Sub-Jall, Ring Road, Surag-395002, Gujarat, India

Tel. No.:

91-261-2344946

Fax No.:

91-261-2340946

E-Mail :

sales@caplon.in

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Ankur Harishkumar Patel

Designation :

Director

Address :

31, Patel Nagar Society, B/H Umra Jakat Naka, Athwalines, Surat – 395001, Gujarat, India

Date of Birth/Age :

20.09.1978

Date of Appointment :

19.07.2004

DIN:

01610625

PAN No.:

AFSPP8610G

 

 

Name :

Mr. Harishkumar Tribhovandas Patel

Designation :

Director

Address :

Plot-10,Sy.No.74,Satkeval Plots, City Light Road, Umra, Surat – 395007, Gujarat, India

Date of Birth/Age :

2302.1953

Date of Appointment :

22.07.2004

DIN:

00332251

PAN No.:

ABJPP2977P

 

 

Name :

Mr. Rakesh Chaudhary

Designation :

Director

Address :

B-101, Navpad Apartment., City Light Road, Surat – 395007, Gujarat, India

Date of Birth/Age :

27.11.1955

Date of Appointment :

01.11.2012

DIN:

00644604

 

 

Name :

Mr. Pramod Kumar Chaudhary

Designation :

Director

Address :

7-B, Rudraraj Apatments, Opposite, Arihant Complex, Near Holiday Inn Hotel, Athwalines, Surat-395007, Gujarat, India

Date of Birth/Age :

06.10.1963

Date of Appointment :

01.05.2009

DIN:

00530612

 

 

KEY EXECUTIVES

 

Name :

Mr. Amit Patel

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Abhishek Kokra

 

50000

Akshat Chaudhary

 

140000

Amol Fab Trade Private Limited

 

9700000

Anil Chaudhary

 

240000

Ankur Harishbhai Patel

 

10875000

Arm Enterprise

 

2425000

Bharat T. Patel

 

3200000

Bharat T.Patel (H.U.F.)

 

5000000

Calison Fibres Private Limited

 

11267000

Fast & Perfect Tracon Private Limited

 

6090000

Gazel Venture Private Limited

 

16405000

Gujarat Embroideries Limited

 

17275000

Gyanesh Chaudhary

 

240000

Harikrishana Chaudhary

 

300000

Harish T.Patel

 

19404000

Harish T.Patel (H.U.F.)

 

13003250

Highview Financial Consultancy (Private) Limited

 

2450000

Ideal Trade Link Private Limited

 

2600000

Keyuri H.Patel

 

2800000

Maharshi B.Patel

 

4400000

Meenakshi Chaudhary

 

240000

Nilam Chaudhary

 

240000

Noopur Ankurbhai Pat

 

2414000

Paresh Chaudhary

 

520000

Pioneer Syntex Private Limited

 

8500000

Spectrum Dyes & Chemical Private Limited

 

10149750

Sushila H.Patel

 

15381500

T. M. Patel Processing Private Limited

 

350000

T.M Synthetics Private Limited

 

9088000

Urmila Chaudhary

 

240000

Vaishali B.Patel

 

1600000

Vayudut Commercial Private Limited

 

28843500

Vijay Laxmi Commercial Private Limited

 

10509000

Vikram Knittex Private Limited

 

1200000

Vikram Polyester Private Limited

 

1200000

Vikram Syntex Private Limited

 

7533500

Yogesh Navin Master

 

400000

Total

 

226273500

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

63.26

Directors or relatives of Directors

36.74

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of nylon FDY yarn

 

 

Products :

Nylon FDY yarn

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Bangladesh
  • Iran

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Thailand
  • Switzerland
  • China

 

 

Terms :

 

Selling :

Cash and Credit (30,60,90 Days)

 

 

Purchasing :

Cash and Credit (30,60,90 Days)

 

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 :

400 (Approximately)

 

 

Bankers :

Banker Name

Canara Bank

Branch Address

Overseas Bank, Overseas Branch, Surat Vakar Sangh Building Ring Road, Surat-395002, Gujarat, 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

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Rupee term loans from banks

184.763

255.172

Loans taken for vehicles

0.408

1.445

Other loans and advances, others

195.662

164.834

SHORT TERM BORROWING

 

 

Working capital loans from banks

292.680

198.675

Other loans and advances

196.995

180.506

Total

870.508

800.632

 

Banking Relations :

 

 

 

Auditors :

 

Name :

DSI and Company

Chartered accountants

Address :

MF/14-26, Nariman Point Shopping Centre, Near Raghuvir Bungalows, City light Road, Surat -395007, Gujarat, India

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

AAFFD4002N

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises Controlled by the Key Management personnel:
  • Ankur Enterprise (Prop. Harish T. Patel)
  • Arm Enterprise
  • Calison Fibers Private Limited
  • Calison Silk Mills
  • Gamma Tradelink Private Limited, India [U51100GJ1993PTC018775]
  • General Trading Corporation
  • Gravity Infratech Private Limited, India [U45201GJ2010PTC060852]
  • Gujarat Embroideries Limited.
  • Harish T. Patel HUF
  • Kottex Industries Private Limited, India [U17120GJ2007PTC051007]
  • Maruti Textile Private Limited
  • Narmada Thermal Power Limited
  • Pratibha Fabrics Limited.
  • Pratibha Syntex Limited. Unit II
  • Pro-on Line Marketing Private Limited, India [U17214GJ2006PTC048995]
  • Spectrum Dyes and Chemicals Private Limited.
  • Sushila Harish Patel
  • Swastik Polyprints Private Limited.
  • T. M. Patel Processing Private Limited
  • T. M. Synthetics Private Limited, India [U24119GJ2004PTC044585]
  • Vayudut Commercial Private Limited.
  • Vijay Laxmi Commercial Private Limited
  • Vikram Knittex Private Limited, India [U17110GJ1994PTC022422]
  • Nobletex Industries Limited, India [U17120GJ1990PLC014261]

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

31000000

Equity Shares

Rs.10/- each

Rs. 310.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

22627350

Equity Shares

Rs.10/- each

Rs. 226.274 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

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

226.274

217.129

201.590

(b) Reserves & Surplus

404.387

241.030

170.880

(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)

630.661

458.159

372.470

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

382.851

423.468

283.738

(b) Deferred tax liabilities (Net)

30.038

30.038

30.038

(c) Other long term liabilities

242.050

142.213

156.687

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

654.939

595.719

470.463

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

489.675

379.182

324.502

(b) Trade payables

312.207

164.204

174.073

(c) Other current liabilities

119.024

144.527

150.525

(d) Short-term provisions

30.865

11.493

1.265

Total Current Liabilities (4)

951.771

699.406

650.365

 

 

 

 

TOTAL

2237.371

1753.284

1493.298

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1088.130

1037.471

779.056

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.611

0.000

12.014

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.205

0.025

0.025

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

12.178

14.238

13.886

(e) Other Non-current assets

62.629

31.762

19.001

Total Non-Current Assets

1163.753

1083.496

823.982

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

158.212

142.537

134.251

(c) Trade receivables

691.769

387.678

362.538

(d) Cash and cash equivalents

161.013

119.936

75.146

(e) Short-term loans and advances

7.251

6.185

13.362

(f) Other current assets

55.373

13.452

84.019

Total Current Assets

1073.618

669.788

669.316

 

 

 

 

TOTAL

2237.371

1753.284

1493.298

 

 

PROFIT & LOSS ACCOUNT

 

 

Particulars

 

 

31.03.2014

31.03.2013

Total Operating Income

 

2175.800

1437.800

 

 

 

 

Profit After Tax

 

147.000

56.900

 

Note: Above information has been taken from indirect source i.e CARE

 

 

 

PARTICULARS

 

 

31.03.2012

 

SALES

 

 

 

 

Sales/Job Charges

 

 

14.342

 

Other Income

 

 

NA

 

TOTAL

 

 

NA

 

 

 

 

 

Less

EXPENSES

 

 

NA

 

 

 

 

 

Less

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

 

 

152.162

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

 

94.942

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

 

 

57.220

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

50.130

 

 

 

 

 

Less

EXCEPTIONAL ITEMS

 

 

0.000

 

 

 

 

Less

EXTRAORDINARY ITEMS

 

 

0.451

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

 

6.639

 

 

 

 

 

Less

TAX

 

 

1.265

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

 

5.374

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

 

 

51.580

 

 

 

 

 

 

Balance Carried to the B/S

 

 

56.954

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

 

 0.26

 

Note: There is a typo error in the 2014 and 2013 annual report. The director report contains all the details pertaining to 2012.

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

2300.000

 

The above information has been parted by Mr. Amit Patel

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

163.360

122.957

113.560

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

181.918

275.318

183.814

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)
NA

NA

37.47

 

 
 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)
NA

NA

1060.95

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
NA

NA

0.45

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
NA

NA

0.02

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.64

2.02

1.94

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.13

0.96

1.03

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

201.590

217.129

226.274

Reserves & Surplus

170.880

241.030

404.387

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

372.470

458.159

630.661

 

 

 

 

long-term borrowings

283.738

423.468

382.851

Short term borrowings

324.502

379.182

489.675

Current maturities of long-term debts

113.560

122.957

163.360

Total borrowings

721.800

925.607

1035.886

Debt/Equity ratio

1.938

2.020

1.643

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Total Operating Income

1437.800

2175.800

 

51.328

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Total Operating Income

1437.800

2175.800

Profit

56.900

147.000

 

3.96%

6.76%

 

 

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

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

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

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

LITIGATION DETAILS

 

 

 

HIGH COURT OF GUJARAT

 

CAVEAT (SPECIAL CIVIL APPLICATION) No. 1648 of 2014

 

 

Status : INACTIVE

CCIN No : 001025201401648

 

Last Listing Date:

-

Coram

·         -

S.NO.

Name of the Petitioner

Advocate On Record

1

GUJARAT URJA NIGAM LIMITED

MR PREMAL R JOSHI for: Caveator(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

S.NO.

Name of the Respondant

Advocate On Record

1
2
3
4
5
6
7
8
9
10
11

INDUCTO CAST PVT LTD
GARG CASTSTEELS PVT LTD
RSK INDUSTRIES PVT LTD
SINTEX INDUSTRIES LTD
HANS INDUSTRIES PVT LTD
UMIYA CERAMICS PVT LTD
SANTOSA GRANITO PVT LTD
SENSO GRANITO PVT LTD.
SORENTO GRANITO PVT LTD
SIMPOLO VITRIFIED PVT LTD
SIMS CERAMIC PVT LTD
more

Presented On

: 01/04/2014

Registered On

: -

Bench Category

: -

District

: VADODARA

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 0 times

Stage Name

: -

 

Other Forums

 

S.No.

CASEDETAILS

TRIBUNAL REFERRENCE

ORDER PASSED BY

JUDGEMENT DATE

PLACE

1

PETITION NO.1302/2013

GERC

GERC

12/03/2014

VADODARA

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

01/04/2014

VAKALATNAMA

MR PREMAL R JOSHI ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

5

MR PREMAL R JOSHI(1327) for P:1

2

01/04/2014

MEMO OF PETITION/APPEAL/SUIT

MR PREMAL R JOSHI ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

50

MR PREMAL R JOSHI(1327), for P:1

 

 

UNSECURED LOAN

 

Particulars

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWING

 

 

Other loans and advances, others

2.018

2.018

Total

2.018

2.018

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10387769

27/10/2012

1,050,000.00

CANARA BANK

OVERSEAS BRANCH, SURAT VANKAR SANGH BUILDING, RIN
G ROAD,, SURAT, GUJARAT - 395002, INDIA

B62475074

2

10080968

21/01/2015 *

1,534,923,000.00

CANARA BANK

OVERSEAS BRANCH, SURAT VANKAR SANGH BUILDING, RIN
G ROAD,, SURAT, GUJARAT - 395002, INDIA

C51726198

3

80005394

23/01/2015 *

1,534,923,000.00

CANARA BANK

OVERSEAS BRANCH, SURAT VANKAR SANGH BUILDING, RIN
G ROAD,, SURAT, GUJARAT - 395002, INDIA

C41340613

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments
  • Other equipments

 

Intangible assets

  • 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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                                       None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.63.58

UK Pound

1

Rs.99.11

Euro

1

Rs.70.29

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

 

44

 

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.