MIRA INFORM REPORT

 

 

Report No. :

330114

Report Date :

07.07.2014

 

IDENTIFICATION DETAILS

 

Name :

ZAMIL AIR CONDITIONERS INDIA PRIVATE LIMITED (w.e.f 27.02.2013)

 

 

Formerly Known As :

ADVANTEC COILS PRIVATE LIMITED

 

 

Registered Office :

H-9, First Floor, Block B1, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi – 110044

Tel. No.:

91-11-31901300

 

 

Country :

India

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

24.09.1992

 

 

Com. Reg. No.:

55-050416

 

 

Capital Investment / Paid-up Capital :

Rs. 396.399 Million

 

 

CIN No.:

[Company Identification No.]

U74899DL1992PTC050416

 

 

IEC No.:

0594020387

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

ADELA05979B

 

 

PAN No.:

[Permanent Account No.]

AAACA0907F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of consumer, air conditioning, window air conditioner, split air conditioner etc.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 610000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and established company incorporated during 1992 having a moderate track record.

 

Management of the company has not filed its financial with the government department for the year 2014.

 

As per available financial of December 2013, the company has incurred some accumulated losses. Further, the rating also takes into consideration huge borrowings recorded by the company.

 

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

 

In view of absence of latest financial and moderate financial base, 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.

 

 

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 DECLINED

 

MANAGEMENT NON CO-OPERATIVE (91-11-31901300)

 

LOCATIONS

 

Registered Office :

H-9, First Floor, Block B1, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi – 110044, India

Tel. No.:

91-11-31901300

Fax No.:

Not Available

E-Mail :

Davinder.mittal@zamilacindia.com

 

 

DIRECTORS

 

AS ON 17.05.2014

 

Name :

Mr. Tanjore Narasinra Rao Vidya Sagar

Designation :

Whole-time director

Address :

Flat No 231, 3rd Floor, Jai Maa Appartment, Plot No 16, Sector 5, Dwarka, Delhi  - 110075, India

Date of Birth/Age :

07.11.1952

Date of Appointment :

16.11.2011

DIN No.:

05191582

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1992PTC050416

Zamil Air Conditioners India Private Limited

Whole-time director

16-11-14

16-11-11

-

Active

NO

2

U74210PN2003PTC139468

Zamil Construction India Private Limited

Additional director

08-12-14

08-12-14

-

Active

NO

3

U74210PN2003PTC131123

ZAMIL STEEL BUILDINGS INDIA PRIVATE LIMITED

Director

31-12-14

08-12-14

-

Active

NO

 

 

Name :

Mr. Osama Fahad Albunyan

Designation :

Director

Address :

P.O.Box 2700, Al Khobar, 31952, Saudi Arabia

Date of Birth/Age :

05.12.1967

Date of Appointment :

12.11.2008

DIN No.:

02150620

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1992PTC050416

Zamil Air Conditioners India Private Limited

Director

12-11-08

21-05-08

-

Active

NO

2

U74120DL2008PTC175696

Zamil Infra Private Limited

Director

29-09-12

03-06-12

-

Active

NO

3

U74210PN2003PTC139468

Zamil Construction India Private Limited

Additional director

30-06-12

30-06-12

-

Active

NO

4

U74210PN2003PTC131123

ZAMIL STEEL BUILDINGS INDIA PRIVATE LIMITED

Director

30-06-12

30-06-12

-

Active

NO

5

U72900PN2007PTC130944

Zamil Information Technology Global Private Limited

Director

30-06-12

30-06-12

-

Active

NO

6

U74210TN2000PTC045992

ZAMIL STEEL ENGINEERING INDIA PRIVATE LIMITED

Additional director

01-04-13

01-04-13

-

Active

NO

 

 

Name :

Mr. Abdullah Mohammed Alzamil

Designation :

Director

Address :

P.O.Box 14440, Dammam, 31424, Saudi Arabia

Date of Birth/Age :

07.01.1965

Date of Appointment :

12.11.2008

DIN No.:

02150647

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1992PTC050416

Zamil Air Conditioners India Private Limited

Director

12-11-08

21-05-08

-

Active

NO

 

 

Name :

Mr. Awad Sharif Nugod Elamin

Designation :

Director

Address :

P.O.Box 14440, Dammam, 31424, Saudi Arabia

Date of Birth/Age :

01.01.1951

Date of Appointment :

28.06.2012

DIN No.:

02287435

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1992PTC050416

Zamil Air Conditioners India Private Limited

Director

28-06-12

21-05-08

-

Active

NO

2

U74210PN2003PTC139468

Zamil Construction India Private Limited

Additional director

08-12-14

08-12-14

-

Active

NO

3

U74210PN2003PTC131123

ZAMIL STEEL BUILDINGS INDIA PRIVATE LIMITED

Director

31-12-14

08-12-14

-

Active

NO

 

 

Name :

Mr. Natarajan Rangasamy

Designation :

Director

Address :

4/105 B, Naduthottam, Achampalayam, Kempanaickenpalayam, Annur, Coimbatore, 641697, Tamilnadu, India

Date of Birth/Age :

02.06.1973

Date of Appointment :

28.06.2012

DIN No.:

02948146

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1992PTC050416

Zamil Air Conditioners India Private Limited

Director

28-06-12

16-11-11

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Divya Rai

Designation :

Secretary

Address :

382, Nilgiri Appartment, Alaknanda, New Delhi, 110019, Delhi, INDIA

Date of Appointment :

19.05.2015

PAN No.:

AOSPR5531D

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 17.05.2014

 

Names of Shareholders (Equity Shares)

 

No. of Shares

Gaurvinder Pal Singh

 

1

Zamil Industrial Investment Co, Saudi Arabia 

 

860900

Zamil Industrial Investment Company Asia Pte Limited, Singapore

 

37778975

Total

 

38639876

 

Names of Shareholders (Preference Shares)

 

No. of Shares

Gaurvinder Pal Singh

 

1000000

Total

 

1000000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 17.05.2014

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of consumer, air conditioning, window air conditioner, split air conditioner etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

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 :

Information declined by the management 

 

 

Bankers :
  • State Bank of India - Lead Bank, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi - 110001, Delhi, India
  • Bank of India, Maya Pur Ind. Area, , New Delhi - 110058, Delhi, India
  • Centurion Bank Limited, 603,604, Ashoka Estate, Barakhamba Road, New Delhi - 110001, Delhi, India
  • Citibank Na, Jeevan Vihar, 3 Sansad Marg, New Delhi - 110001, Delhi, India
  • Barclays Bank Plc, Eros Corporate Towers, Nehru Place, New Delhi-19, New Delhi - 110019, Delhi, India
  • Standard Chartered Bank, H-2, Credit Risk Control, Connaught Circus,, New Delhi - 110001, Delhi, India

 

Banker Name

ICICI Bank Limited

Branch Address

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, 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

31.12.2013

As on

31.12.2012

LONG TERM BORROWING

 

 

Loans taken for vehicles

0.000

0.112

SHORT TERM BORROWING

 

 

Rupee term loans from banks

0.000

58.443

Loans repayable on demand from banks

0.000

12.464

Loans repayable on demand from others

0.000

47.872

Other loans and advances

0.108

9.234

Total

0.108

128.125

 

Banking Relations :

 

 

 

Auditors :

 

Name :

SK Surana and Company

Chartered Accountant

Address :

4831/24, IInd Floor, Ansari Road, Darya Ganj New Delhi- 110002, India

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

AAUFS1209F

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding company:
  • Zamil Industrial Investment Co
  • Zamil Industrial Investment Company Asia Pte Limited

 

 

Fellow Subsidiary company:
  • Zamil Steel Buildings India Private Limited, India [U74210PN2003PTC131123]
  • Zamil Air Conditioners and Home Appliances Company Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.12.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

40000000

Equity Shares

Rs.10/- each

Rs. 400.000 Million

1000000

Preference Shares

Rs.10/- each

Rs. 10.000 Million

 

 

 

 

 

Total

 

Rs. 410.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

38639876

Equity Shares

Rs.10/- each

Rs. 386.399 Million

1000000

Preference Shares

Rs.10/- each

Rs. 10.000 Million

 

 

 

 

 

Total

 

Rs. 396.399 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.12.2013

31.12.2012

31.12.2011

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

396.399

396.399

386.399

(b) Reserves & Surplus

(184.094)

(188.479)

(57.640)

(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)

212.305

207.920

328.759

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.112

39.627

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

14.978

16.941

13.340

Total Non-current Liabilities (3)

14.978

17.053

52.967

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1334.250

1513.973

845.208

(b) Trade payables

125.336

246.684

106.824

(c) Other current liabilities

354.792

509.107

637.045

(d) Short-term provisions

5.313

5.212

1.480

Total Current Liabilities (4)

1819.691

2274.976

1590.557

 

 

 

 

TOTAL

2046.974

2499.949

1972.283

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

826.713

828.880

595.895

(ii) Intangible Assets

6.164

4.271

4.977

(iii) Capital work-in-progress

1.002

5.737

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.400

0.410

0.210

(c) Deferred tax assets (net)

299.703

313.722

242.570

(d)  Long-term Loan and Advances

12.586

14.807

14.760

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1146.568

1167.827

858.412

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

534.714

453.209

405.501

(c) Trade receivables

173.834

377.579

95.428

(d) Cash and cash equivalents

9.373

148.782

169.344

(e) Short-term loans and advances

56.181

56.663

148.554

(f) Other current assets

126.304

295.889

295.044

Total Current Assets

900.406

1332.122

1113.871

 

 

 

 

TOTAL

2046.974

2499.949

1972.283

 

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.12.2013

31.12.2012

31.12.2011

 

SALES

 

 

 

 

Revenue from operations

2797.172

2847.580

1452.945

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

Less

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

(143.680)

(29.638)

(282.244)

 

 

 

 

 

Less

FINANCIAL EXPENSES

64.306

55.637

168.357

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

(207.986)

(85.275)

(450.601)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

117.337

149.350

53.157

 

 

 

 

 

 

PROFIT BEFORE PRIOR PERIOD AND EXCEPTIONAL ITEM

(325.323)

(243.625)

(503.758)

 

 

 

 

Add

PRIOR PERIOD ITEMS

4.103

0.000

(0.638)

 

 

 

 

Add

EXCEPTIONAL ITEM

339.624

0.000

0.000

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

18.404

(234.625)

(504.396)

 

 

 

 

 

Less

TAX

14.019

(71.143)

(241.715)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

4.385

(163.482)

(262.681)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.11

NA

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.12.2013

31.12.2012

31.12.2011

Current Maturities of Long term debt

0.000

0.000

0.000

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(123.975)

(200.246)

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.12.2013

31.12.2012

31.12.2011

Net Profit Margin

(PAT / Sales)

(%)

0.16

(5.74)

(18.08)

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

(5.14)

(1.04)

(19.43)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.05

(10.76)

(29.16)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.09

(1.13)

(1.53)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

6.28

7.28

2.69

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.49

0.59

0.70

 

 

 

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

386.399

396.399

396.399

Reserves & Surplus

(57.640)

(188.479)

(184.094)

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

328.759

207.920

212.305

 

 

 

 

long-term borrowings

39.627

0.112

0.000

Short term borrowings

845.208

1513.973

1334.250

Current maturities of long-term debts

0.000

0.000

0.000

Total borrowings

884.835

1514.085

1334.250

Debt/Equity ratio

2.691

7.282

6.285

 

 

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)

Revenue from operations

1452.945

2847.580

2797.172

 

 

95.987

(1.770)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from operations

1452.945

2847.580

2797.172

Profit

(262.681)

(163.482)

4.385

 

(18.08%)

(5.74%)

0.16%

 

 

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

No

8

Designation of contact person

No

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

No

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

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

 

OPERATIONAL PERFORMANCE

 

During the year, the Company has been able to achieve a turnover of Rs. 2797.172 Million as compared to the turnover of Rs. 2847.580 Million during the previous year. The turnover of the Company has reduced marginally, due to lessor value of customer supplied material which becomes part of turnover as compared to previous year. Further as compared with previous year, the off seasonal months of July-Dec saw a dip in sale due to lower demand. This had an impact on overall annual turnover.

 

Further, company's export turnover during the current year is Rs. 2,53.309 Million as compare to turnover of Rs. 2,55.098 Million during the previous year. Company's major exports are made to Saudi Arabia. During the current year it was expected that export turnover of the company will improve but since the Energy Efficiency norms has been changed in Saudi Arabia, the company could not effect better export.

 

Further, Company has also taken following initiatives to increase the profit margins of the Company:

 

1. The Company had shifted the Bahadurgarh operations of the Company to Nalagarh which has resulted in significant savings in terms of rent, manpower cost, other fixed cost etc.

 

2. Re-arranging the two plants at Nalagarh to optimise on freight on inter-unit materials transfer, avoid in delays in availability of company manufactured components to production line and optimise available manpower to further reduce cost.

 

3. Launching the Zamil Brand in the market.

 

4. Rationalisation of the excess manpower in all functional areas.

 

5. Establishment of turnkey division to cater to the needs of high end ACs for big projects and as these high tonnage ACs have the demand throughout the year, will also help to overcome seasonal issues

 

The Directors expect the above significant measures alongwith other measures would substantially improve the profitability of the Company during 2014.

 

UNSECURED LOAN

 

Particulars

31.12.2013

(Rs. in Million)

31.12.2012

(Rs. in Million)

SHORT TERM BORROWING

 

 

Loans repayable on demand from banks

734.586

1149.934

Loans and advances from others

1.511

1.511

Other loans and advances

598.045

234.515

Total

1334.142

1385.960

 

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10546889

27/01/2015

150,000,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,
MAHARASHTRA - 400001, INDIA

C42364786

2

10007433

06/06/2006

3,000,000.00

DIRECTOR OF INDUSTRIES HIMACHAL PRADESH

GENERAL MANAGER DISTRICT INDUSTRIES CENTER, SOLAN,
HIMACHAL PRADESH - 173213, INDIA

A01793868

 

 

FIXED ASSETS

 

Tangible assets

 

 

Intangible assets

 

 

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.

UK Pound

1

Rs.

Euro

1

Rs.

 

 

INFORMATION DETAILS

 

Information Gathered by :

 

 

 

Analysis Done by :

 

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

 

PAID-UP CAPITAL

1~10

 

OPERATING SCALE

1~10

 

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

 

--PROFITABILITY

1~10

 

--LIQUIDITY

1~10

 

--LEVERAGE

1~10

 

--RESERVES

1~10

 

--CREDIT LINES

1~10

 

--MARGINS

-5~5

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

 

 

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.