MIRA INFORM REPORT
|
Report No. : |
330810 |
|
Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDUS-LEAGUE CLOTHING LIMITED |
|
|
|
|
Registered
Office : |
Knowledge House , Shyam Nagar, Off Jogeshwari Vikhroli Link Road,
Jogeshwari East, Mumbai – 400060, Maharashtra |
|
Tel. No.: |
91-80-33423535 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.11.1998 |
|
|
|
|
Com. Reg. No.: |
11-226134 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 34.828 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110MH1998PLC226134 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI5392Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject operate as an integrated fashion company. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a company having a moderate track record. As claimed by Ms. Vijaya Anala, Finance Manager that the subject company has been amalgamated with “FUTURE LIFESTYLE FASHIONS LIMITED” on 29th May 2013 and all activities of the subject company has been transferred in future lifestyle fashion limited. Further she also claimed that due to some accounting transaction pending between the subject company and future lifestyle fashion limited, the subject company still active but it is not under taken any business operations. As per the status in the registrar of companies business appears to be active. Payments are reported to be unknown. In
view of aforesaid, the company can be considered for business dealings on
safe and secured 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.
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 DENIED BY
|
Name : |
Ms. Vijaya |
|
Designation : |
Finance Head |
|
Contact No.: |
91-80-33423535 |
|
Date : |
06.07.2015 |
LOCATIONS
|
Registered Office : |
Knowledge House , Shyam Nagar, Off Jogeshwari Vikhroli Link Road,
Jogeshwari East, Mumbai – 400060, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 29.09.2013
|
Name : |
Mr. Rakesh Biyani |
|
Designation : |
Director |
|
Address : |
Flat No 1903,19th Floor, B Wing, Vivarea Bldg., Sane Guruji Marg,
Jacob Circle,, Mumbai-400011, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1972 |
|
Date of Appointment : |
23.04.2008 |
|
DIN No.: |
00005806 |
|
|
|
|
Name : |
Mr. Krishan Kant Rathi |
|
Designation : |
Director |
|
Address : |
B/72, Dakshina Park, plot no.15,N.S.Road,, 10th JVPD Scheme,, Mumbai-
400049, Maharashtra, INDIA |
|
Date of Birth/Age : |
30.12.1961 |
|
Date of Appointment : |
21.11.2011 |
|
DIN No.: |
00040094 |
|
|
|
|
Name : |
Mr. Kailash Mahesh Anand Bhatia |
|
Designation : |
Director |
|
Address : |
Flat No.2603,Odyssey-II, Hiranandani Gardens Powai, Mumbai-400076,
Maharashtra, India |
|
Date of Birth/Age : |
01.01.1958 |
|
Date of Appointment : |
26.03.2007 |
|
DIN No.: |
00859957 |
|
|
|
|
Name : |
Mr. Jagdish Vasudev Shenoy |
|
Designation : |
Director |
|
Address : |
Atmaram Bhuvan, 250/11 Station Road Wadala, Mumbai, 400031,
Maharashtra, India |
|
Date of Birth/Age : |
12.10.1966 |
|
Date of Appointment : |
10.08.2010 |
|
DIN No.: |
01754643 |
KEY EXECUTIVES
|
Name : |
Bhuchandrappa Nanjappa |
|
Designation : |
Secretary |
|
Address : |
No.75, 3rd Main, 2nd Stage, AGB Layout, Mahalakshmi Puram, Bangalore-
560086, Karnataka, India |
|
Date of Birth/Age : |
10.06.1962 |
|
Date of Appointment : |
04.02.2011 |
|
PAN No.: |
AAOPB3623N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Future Lifestyle Fashion Limited, India |
|
28900858 |
|
Future Lifestyle Fashion Limited Jointly With Sanjay Rathi |
|
1 |
|
Future Lifestyle Fashion Limited Jointly With Kuldeep Sharma |
|
1 |
|
Future Lifestyle Fashion Limited Jointly With Deepak Tanna |
|
1 |
|
Future Lifestyle Fashion Limited Jointly With Anant Gude |
|
1 |
|
Future Lifestyle Fashion Limited Jointly With Virendra Samani |
|
1 |
|
Bennett Coleman and Company Limited, India |
|
1421364 |
|
Rachna Aggarwal |
|
1000 |
|
Arun Srideshmukh |
|
1000 |
|
Sriram Srinivasan |
|
1000 |
|
V Uday Kumar |
|
1000 |
|
Kanchan Kumar Pant |
|
1000 |
|
M S S Jalaudin |
|
1000 |
|
Total |
|
30328227 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2013
|
Category |
Percentage |
|
Bodies corporate |
99.98 |
|
Other top fifty shareholders |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject operate as an integrated fashion company. |
|
|
|
|
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 Divulged |
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|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Vijaya Bank, Corporate Banking Branch, M1 Floor, Head Office - 41/2, Mg Road,, Bangalore - 560001, Karnataka, India Axis Bank Limited, Corporate Banking Branch, 1, Second Floor, Queens Road, Bangalore - 560001, Karnataka, India State Bank Of India, Hassan Branch, Orient Plaza B.M. Road, Hassan - 573201, Karnataka, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. S. Ajwani and Company Chartered Accountants |
|
Address : |
44, Khatau Building, 1st Floor, Bank Street, Fort, Mumbai-400001, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AHQPA2729P |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company: |
Future Lifestyle Fashions Limited |
|
|
|
|
Associate : |
Turtle Limited |
|
|
|
|
Fellow Subsidiary
company : |
Indus Tree Crafts Private Limited |
|
|
|
|
Joint venture : |
Celio Future Fashion Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
Rs.1/- each |
Rs. 600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34828227 |
Equity Shares |
Rs.1/- each |
Rs. 34.828
Million |
|
|
|
|
|
As on 20.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
Rs.1/- each |
Rs. 600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,328,227 |
Equity Shares |
Rs.1/- each |
Rs. 30.328
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 |
34.828 |
30.328 |
303.282 |
|
(b) Reserves & Surplus |
860.275 |
735.966 |
1669.643 |
|
(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) |
895.103 |
766.294 |
1972.925 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
106.250 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
5.404 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
13.499 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
125.153 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
1595.678 |
|
(b) Trade
payables |
0.000 |
0.000 |
423.194 |
|
(c) Other
current liabilities |
0.029 |
0.056 |
78.178 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
87.294 |
|
Total Current
Liabilities (4) |
0.029 |
0.056 |
2184.344 |
|
|
|
|
|
|
TOTAL |
895.132 |
766.350 |
4282.422 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
0.000 |
0.000 |
308.640 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
5.086 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.341 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
766.350 |
1267.350 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
5.238 |
|
(d) Long-term Loan and Advances |
891.400 |
0.000 |
259.493 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
891.400 |
766.350 |
1846.148 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
0.000 |
918.838 |
|
(d) Cash
and cash equivalents |
1.105 |
0.000 |
1371.581 |
|
(e)
Short-term loans and advances |
2.500 |
0.000 |
31.174 |
|
(f) Other
current assets |
0.127 |
0.000 |
114.681 |
|
Total
Current Assets |
3.732 |
0.000 |
2436.274 |
|
|
|
|
|
|
TOTAL |
895.132 |
766.350 |
4282.422 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
2110.739 |
3663.500 |
|
|
|
Other Income |
2.844 |
17.294 |
31.700 |
|
|
|
TOTAL (A) |
2.844 |
2128.033 |
3695.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
1068.654 |
|
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.327 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.000 |
179.990 |
|
|
|
|
Employees benefits expense |
0.000 |
220.606 |
|
|
|
|
Other expenses |
0.035 |
442.799 |
|
|
|
|
TOTAL (B) |
0.035 |
1912.376 |
3325.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.809 |
215.657 |
369.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
145.798 |
272.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.809 |
69.859 |
97.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
37.026 |
53.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.809 |
32.833 |
44.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
21.354 |
6.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.809 |
11.479 |
37.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
0.08 |
0.38 |
1.28 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
(891.463) |
(155.506) |
0.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.00 |
0.54 |
1.02 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.00 |
10.22 |
10.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.31 |
0.00 |
1.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.04 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
128.69 |
0.00 |
1.12 |
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 |
303.282 |
30.328 |
34.828 |
|
Reserves & Surplus |
1669.643 |
735.966 |
860.275 |
|
Net
worth |
1972.925 |
766.294 |
895.103 |
|
|
|
|
|
|
long-term borrowings |
106.250 |
0.000 |
0.000 |
|
Short term borrowings |
1595.678 |
0.000 |
0.000 |
|
Total
borrowings |
1701.928 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.863 |
0.000 |
0.000 |
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 |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 16/2, Ali Asker Roadbangalore, Bangalore -560052, Karnataka, India
to the present address w.e.f. 12.10.2011
FINANCIAL RESULTS
The financial statements for the year ended 31/03/2013 were prepared giving effect to the Composite Scheme of Arrangement and Amalgamation as approved by the Hon’ble High Court of Bombay. Hence, the operating results for the year ended 31/03/2014 and state of affairs as on that date are not comparable with the previous year figures.
During the year, the total income of the Company amounts to Rs.2.844 Million comprising of dividend and interest income. The profit after tax amounted to Rs. 2.809 l Million. During the year, the Company has transferred all investments held by it in other Companies to Future Lifestyle Fashions Limited.
INDEX
OF CHARGES NO CHARGES EXIST FOR COMPANY
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Computers
· Vehicles
·
Furniture and 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.63.58 |
|
|
1 |
Rs.99.11 |
|
Euro |
1 |
Rs.70.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
-- |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
-- |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.