MIRA INFORM REPORT
|
Report No. : |
330985 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
CITRUS PAYMENT
SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H – 203, Building No. 1, Greenwoods, German Remedies, A.K. Road, Chakala,
Andheri East, Mumbai – 400093, Maharashtra |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.04.2011 |
|
|
|
|
Com. Reg. No.: |
11-216800 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 15.912 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2011PTC216800 |
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|
|
IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is engaged in the business of payment processing for credit cards,
debit cards, bill payment, prepaid cards and all other kinds of payment
instruments. It is also provides various other solutions (online or offline)
for payments. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2014. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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
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. Saraswati |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-8767709900 |
|
Date : |
07.07.2015 |
LOCATIONS
|
Registered Office : |
H – 203, Building No. 1, Greenwoods, German Remedies, A.K. Road, Chakala,
Andheri East, Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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Branches : |
Located At: 3rd Floor, Viraj Building, Above HDFC Bank Branch, SV Road,
Khar (West), Mumbai – 400052, Maharashtra, India 5th Floor, Icon Tower, Opposite KFC Restaurant, Baner Road,
Baner, Pune – 411045, Maharashtra, India |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Jitendra Bajrang Lal Gupta |
|
Designation : |
Director |
|
Address : |
H-203, Bldg No-1, Green Woods, German Remidies, A.K.Road, Chakala, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
03.08.1981 |
|
Date of Appointment : |
28.04.2011 |
|
DIN No. : |
03341028 |
|
|
|
|
Name : |
Mr. Satyen Vijay Kothari |
|
Designation : |
Director |
|
Address : |
25 Silver Sands Society, Juhu Tara Road, Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1973 |
|
Date of Appointment : |
20.01.2012 |
|
DIN No. : |
01817020 |
|
|
|
|
Name : |
Mr. Bairavarasu Amrish Rau |
|
Designation : |
Director |
|
Address : |
A/13, Sagar- Darshan, 308, Carter Road, Khar, Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
07.10.1973 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No. : |
02008811 |
|
|
|
|
Name : |
Mr. Mohit Anand Bhatnagar |
|
Designation : |
Director |
|
Address : |
A - 1/19, Shanti Niketan, New Delhi – 110057, India |
|
Date of Birth/Age : |
30.06.1969 |
|
Date of Appointment : |
20.01.2012 |
|
DIN No. : |
00381741 |
|
|
|
|
Name : |
Mr. Vishnu Jerome |
|
Designation : |
Director |
|
Address : |
Flat No 15, 3rd Floor, Akshay Apts, Plot No-15, K. C. Road, Bandra Reclamation, Bandra (W), Mumbai 400050 |
|
Date of Birth/Age : |
12.06.1978 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No. : |
05325285 |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Jitendra Gupta |
418637 |
|
Shivani Gupta |
46515 |
|
Citrus Payment Solutions Pte Limited, Singapore |
1200000 |
|
Total |
1665152 |
|
Names of Equity Shareholders |
No. of Shares |
|
White Pay Private Limited, India |
2002015 |
|
Citrus Payment Solutions Pte Limited, Singapore |
1148000 |
|
Total |
3150015 |
|
Names of Equity Shareholders |
No. of Shares |
|
Citrus Payment Solutions Pte Limited, Singapore |
4311737 |
|
Total |
4311737 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
71.52 |
|
Bodies corporate |
23.11 |
|
Directors or relatives of Directors |
5.37 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of payment processing for credit
cards, debit cards, bill payment, prepaid cards and all other kinds of payment
instruments. It is also provides various other solutions (online or offline)
for payments. |
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|
Products : |
Not Available |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
Note: Bank Overdraft facility taken from Ratnakar Bank up to Rs. 6.500
Million Secured against fixed Deposit of Rs. 10.000 Million placed with the
Bank. |
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|
|
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12 Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai –
400018, Maharashtra, India |
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PAN No.: |
AACFD4815A |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Company in which Director is interested : |
Starfish Advisors Private Limited Citrus Singapore Pte Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2087006 |
Equity Shares |
Rs.1/- each |
Rs. 2.087 Million |
|
3300000 |
Preference Shares |
Rs.3/- each |
Rs. 9.900 Million |
|
4311737 |
Preference Shares |
Rs.1/- each |
Rs. 4.312 Million |
|
|
Total |
|
Rs. 16.299
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1665152 |
Equity Shares |
Rs.1/- each |
Rs. 1.665 Million |
|
3150015 |
Preference Shares |
Rs.3/- each |
Rs. 9.450 Million |
|
4311737 |
Preference Shares |
Rs.1/- each |
Rs. 4.312 Million |
|
|
Total |
|
Rs. 15.427
Million |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2087006 |
Equity Shares |
Rs.1/- each |
Rs. 2.087 Million |
|
3300000 |
Preference Shares |
Rs.3/- each |
Rs. 9.900 Million |
|
4311737 |
Preference Shares |
Rs.1/- each |
Rs. 4.312 Million |
|
|
Total |
|
Rs. 16.299
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1700000 |
Equity Shares |
Rs.1/- each |
Rs. 1.700 Million |
|
2152000 |
Preference Shares |
Rs.3/- each |
Rs. 6.456 Million |
|
1148000 |
Preference Shares |
Rs.3/- each |
Rs. 3.444 Million |
|
4311737 |
Preference Shares |
Rs.1/- each |
Rs. 4.312 Million |
|
|
Total |
|
Rs. 15.912
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 |
15.912 |
10.400 |
2.080 |
|
(b) Reserves &
Surplus |
342.709 |
43.577 |
76.728 |
|
(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) |
358.621 |
53.977 |
78.808 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2.190 |
1.090 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2.190 |
1.090 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
1.697 |
0.000 |
|
(b) Trade payables |
200.840 |
23.805 |
2.998 |
|
(c) Other current
liabilities |
3.550 |
2.511 |
0.424 |
|
(d) Short-term provisions |
0.463 |
0.222 |
0.000 |
|
Total Current Liabilities
(4) |
204.853 |
28.235 |
3.422 |
|
|
|
|
|
|
TOTAL |
565.664 |
83.302 |
82.230 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.599 |
1.329 |
0.485 |
|
(ii) Intangible Assets |
21.522 |
12.800 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.243 |
1.173 |
0.400 |
|
(e) Other Non-current
assets |
5.135 |
0.000 |
13.300 |
|
Total Non-Current Assets |
33.499 |
15.302 |
14.185 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
109.253 |
8.136 |
0.193 |
|
(d) Cash and cash
equivalents |
412.546 |
53.560 |
65.855 |
|
(e) Short-term loans and
advances |
6.486 |
4.096 |
0.795 |
|
(f) Other current assets |
3.880 |
2.208 |
1.202 |
|
Total Current Assets |
532.165 |
68.000 |
68.045 |
|
|
|
|
|
|
TOTAL |
565.664 |
83.302 |
82.230 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
104.124 |
18.988 |
1.188 |
|
|
Other Income |
12.812 |
5.892 |
1.819 |
|
|
TOTAL (A) |
116.936 |
24.880 |
3.007 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
42.072 |
18.873 |
|
|
|
Other expenses |
107.958 |
29.115 |
|
|
|
TOTAL (B) |
150.030 |
47.988 |
|
|
|
|
|
|
NA |
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
(33.094) |
(23.108) |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.541 |
0.152 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(33.635) |
(23.260) |
(10.135) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.461 |
1.571 |
(20.327) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(42.096) |
(24.831) |
10.192 |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
(42.096) |
(24.831) |
10.192 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(46.04) |
(49.66) |
(20.67) |
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 |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/ Sales) |
(%) |
(40.43) |
(130.77) |
857.91 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(31.78) |
(121.70) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.44) |
(29.81) |
12.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12) |
(0.46) |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.03 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60 |
2.41 |
19.88 |
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 |
2.080 |
10.400 |
15.912 |
|
Reserves & Surplus |
76.728 |
43.577 |
342.709 |
|
Net worth |
78.808 |
53.977 |
358.621 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
1.697 |
0.000 |
|
Total borrowings |
0.000 |
1.697 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.031 |
0.000 |
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 |
1.188 |
18.988 |
104.124 |
|
|
|
1,498.316 |
448.367 |
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 |
1.188 |
18.988 |
104.124 |
|
Profit |
10.192 |
(24.831) |
(42.096) |
|
|
857.91% |
(130.77%) |
(40.43%) |
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 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10495714 |
31/03/2014 |
291,965.95 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G Block,
Bandra Kurla Complex, Bandr |
C04770368 |
* Date of charge modification
FIXED ASSETS
- Computer
- Furniture and Fixtures
- Office Equipment’s
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. 61.69 |
|
|
1 |
Rs. 93.33 |
|
Euro |
1 |
Rs. 71.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.