MIRA INFORM REPORT
|
Report No. : |
331039 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MODI PROJECTS LIMITED |
|
|
|
|
Formerly Known
As : |
MODI PROJECTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3RD
Floor, Shivani Apartment, 23, Landsdown Terrace, Kolkata - 700026, West
Bengal |
|
Tel. No.: |
91-651-2230772/ 2230788 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.04.1983 |
|
|
|
|
Com. Reg. No.: |
21-036220 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 29.561 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140WB1983PLC036220 |
|
|
|
|
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 : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Service provider of construction and consultancy organization that
aims meeting the demands of infrastructure development by undertaking
projects on turkey basis providing technologically superior solutions. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behavior : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. There seems dip in the turnover and profit of the company during 2014.
However, Profitability of the company seems to be decent. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Navin Kumar Modi |
|
Designation : |
Director |
|
Contact No.: |
91-9431115479 |
|
Date : |
09.07.2015 |
LOCATIONS
|
Registered Office : |
3RD
Floor, Shivani Apartment, 23, Landsdown Terrace, Kolkata - 700026, West
Bengal, India |
|
Tel. No.: |
91-651-2230772/ 2230788 |
|
Mobile No.: |
91-9431115479 (Mr. Navin Kumar Modi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
248, Kanke Road, Ranchi - 834008, Jharkhand, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Navin Kumar Modi |
|
Designation : |
Director |
|
Address : |
3rd floor, Shivani Apartment, 23 Lansdown Terrace, Kolkata – 700026, West Bengal, India |
|
Date of Birth/Age : |
24.12.1970 |
|
Date of Appointment : |
01.10.1998 |
|
Voter ID No.: |
AEUPM4722K |
|
DIN No.: |
00528037 |
|
|
|
|
Name : |
Nitesh Kumar Modi |
|
Designation : |
Director |
|
Address : |
3rd floor, Shivani Apartment, 23 Lansdown Terrace, Kolkata – 700026, West Bengal, India |
|
Date of Birth/Age : |
16.02.1973 |
|
Date of Appointment : |
01.08.2002 |
|
Voter ID No.: |
ADXPM9817F |
|
DIN No.: |
00527985 |
|
|
|
|
Name : |
Narayan Prasad Modi |
|
Designation : |
Director |
|
Address : |
AT – Balgampur, Post – Rangadih, Purulia – 723143, West Bengal, India |
|
Date of Birth/Age : |
06.08.1942 |
|
Date of Appointment : |
15.03.1994 |
|
Voter ID No.: |
ADQPM0427N |
|
DIN No.: |
00528081 |
|
|
|
|
Name : |
Pradip Kumar Modi |
|
Designation : |
Director |
|
Address : |
9/1,Basant Vihar, Kanke Road, Ranchi, 834008, Jharkhand, India |
|
Date of Birth/Age : |
05.09.1949 |
|
Date of Appointment : |
01.08.1996 |
|
Voter ID No.: |
AFKPM6199K |
|
DIN No.: |
00528011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Abhishek Sharma |
650 |
|
Anuja Modi |
20600 |
|
Ajanta Nirman Limited, India |
179000 |
|
Ajay Poddar |
100 |
|
Amit Kumar Khetan |
100 |
|
Ashish Khetan |
100 |
|
Bajranglala Modi (HUF) |
4500 |
|
Gayatri Devi Modi |
130100 |
|
Narayan Prasad Modi |
208100 |
|
Niti Modi |
62700 |
|
Navin Kumar Modi |
602675 |
|
Nitesh Kumar Modi |
582475 |
|
Narayan Prasad Modi (HUF) |
2000 |
|
Sunaina Modi |
166220 |
|
Kusum Devi Khetan |
100 |
|
TPA Investment and Finance Services Private Limited, India |
530000 |
|
Priti Dalmia |
8500 |
|
Pushpa Devi Modi |
40500 |
|
Pushpa Devi Modi (HUF) |
9500 |
|
Rukmani Devi Khetan |
100 |
|
Sanjay Kumar Sharma |
2500 |
|
Sanjay Kumar Modi |
268750 |
|
Sheetal Modi |
133740 |
|
Sangita Sharma |
3000 |
|
Sumit Khatan |
100 |
|
Total |
2956110 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
23.98 |
|
Directors or relatives of Directors |
75.50 |
|
Other top fifty shareholders |
0.52 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service provider of construction and consultancy organization that
aims meeting the demands of infrastructure development by undertaking projects
on turkey basis providing technologically superior solutions. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
L/C, Cheque and Credit |
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|
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Purchasing : |
L/C, Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
500 (Approximately) |
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Bankers : |
Canara Bank, Ranchi, Jharkhand, India
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Facilities : |
|
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Financial
Institute : |
SREI Equipment Finance Private Limited, 'Vishwakarma', 86C Topsia Road, Kolkata 700046, West Bengal, India |
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|
|
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Auditors : |
|
|
Name : |
P.K. Ajitsaria and Company Chartered Accountants |
|
Address : |
3RD Floor White Tower, 115 College Street, Kolkata –
700012, West Bengal, India |
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Tel. No.: |
91-2237-4191/ 40001231 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAMFP6293Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Subsidiaries : |
Ajanta Nirman Limited, [CIN No. U74140WB1983PLC036219], India |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2956110 |
Equity Shares |
Rs.10/- each |
Rs.29.561 Million |
|
|
|
|
|
ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
29.561 |
28.161 |
28.161 |
|
(b) Reserves & Surplus |
218.747 |
202.025 |
175.912 |
|
(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) |
248.308 |
230.186 |
204.073 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
1.558 |
4.547 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
1.558 |
4.547 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
60.641 |
49.910 |
59.017 |
|
(b) Trade
payables |
207.940 |
208.941 |
215.949 |
|
(c) Other
current liabilities |
46.067 |
64.398 |
67.439 |
|
(d) Short-term
provisions |
22.168 |
14.158 |
12.922 |
|
Total Current
Liabilities (4) |
336.816 |
337.407 |
355.327 |
|
|
|
|
|
|
TOTAL |
585.124 |
569.151 |
563.947 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
25.408 |
30.876 |
41.894 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
7.958 |
5.433 |
5.040 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
71.989 |
68.387 |
10.004 |
|
(c) Deferred tax assets (net) |
3.801 |
3.099 |
1.668 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
109.156 |
107.795 |
58.606 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
10.972 |
5.521 |
3.540 |
|
(c) Trade
receivables |
120.010 |
89.977 |
134.670 |
|
(d) Cash
and cash equivalents |
102.736 |
121.910 |
144.892 |
|
(e)
Short-term loans and advances |
203.567 |
216.142 |
197.961 |
|
(f) Other
current assets |
38.683 |
27.806 |
24.278 |
|
Total Current
Assets |
475.968 |
461.356 |
505.341 |
|
|
|
|
|
|
TOTAL |
585.124 |
569.151 |
563.947 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Contract Receipt |
355.230 |
605.614 |
624.981 |
|
|
|
Other Income |
15.473 |
19.042 |
10.524 |
|
|
|
TOTAL |
370.703 |
624.656 |
635.505 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
145.884 |
244.704 |
294.121 |
|
|
|
Direct Cost |
140.633 |
246.043 |
225.090 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(5.451) |
(1.981) |
(1.110) |
|
|
|
Employees benefits expense |
25.287 |
31.070 |
35.966 |
|
|
|
Other expenses |
20.534 |
42.576 |
22.417 |
|
|
|
TOTAL |
326.887 |
562.412 |
576.484 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
43.816 |
62.244 |
59.021 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.259 |
11.235 |
12.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
31.557 |
51.009 |
46.941 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
8.926 |
12.170 |
14.476 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
22.631 |
38.839 |
32.465 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.309 |
12.726 |
11.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
15.322 |
26.113 |
21.461 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.18 |
8.83 |
7.26 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1.310 |
2.650 |
1.923 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
4.31 |
4.31 |
3.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.33 |
10.28 |
9.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.51 |
7.89 |
5.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.17 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.25 |
0.24 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.37 |
1.42 |
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 |
28.161 |
28.161 |
29.561 |
|
Reserves & Surplus |
175.912 |
202.025 |
218.747 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
204.073 |
230.186 |
248.308 |
|
|
|
|
|
|
long-term borrowings |
4.547 |
1.558 |
0.000 |
|
Short term borrowings |
59.017 |
49.910 |
60.641 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
1.923 |
2.650 |
1.310 |
|
Total borrowings |
65.487 |
54.118 |
61.951 |
|
Debt/Equity ratio |
0.321 |
0.235 |
0.249 |
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 |
624.981 |
605.614 |
355.230 |
|
|
|
(3.099) |
(41.344) |
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 |
624.981 |
605.614 |
355.230 |
|
Profit |
21.461 |
26.113 |
15.322 |
|
|
3.43% |
4.31% |
4.31% |
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 |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from 11/B New Road 2ND floor, Alipore, Kolkata - 700027,
West Bengal, India to the present address
w.e.f. 15.07.2009
FINANCIAL RESULTS
The Company has incurred Profit of Rs. 15.322 Million during the year and along with the accumulated balance of Rs. 218.747 Million in Reserve & Surplus Account has been carried forward.
MANAGEMENT'S
RESPONSIBILITY FOR THE FIINANCIAL STATEMENTS
The Company's Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance of the Company in accordance with the Accounting Standards notified under the Companies Act, 1956 (the Act) read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013 and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans from Shareholders |
17.029 |
14.762 |
|
Loans From Directors |
10.713 |
6.990 |
|
Loans from Others |
0.475 |
0.475 |
|
Mobilization Advance |
0.692 |
0.692 |
|
Total |
28.909 |
22.919 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10340473 |
13/02/2012 |
1,438,200 |
SREI Equipment Finance Private Limited |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, West Bengal - 700046, INDIA |
B34274928 |
|
2 |
10262434 |
01/12/2010 |
1,105,000 |
SREI Equipment Finance Private Limited |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, West Bengal - 700046, INDIA |
B04105029 |
|
3 |
10216682 |
08/03/2010 |
1,468,000 |
Union Bank of India |
Doranda Branch, 20, Chaibasa Road, Ranchi, Jharkhand - 834002, INDIA |
A84368695 |
|
4 |
10193155 |
01/12/2009 |
684,000 |
UNION BANK OF INDIA |
DORANDA BRANCH, 20 CHAIBASA ROAD, RANCHI, Jharkhand - 834002, INDIA |
A76020957 |
|
5 |
10174447 |
15/07/2009 |
815,000 |
UNION BANK OF INDIA |
DORANDA BRANCH, 20, CHAIBASA ROAD, RANCHI, Jharkhand - 834002, INDIA |
A69021491 |
|
6 |
10054997 |
30/04/2007 |
8,000,000 |
CANARA BANK |
S.N.GANGULY ROAD, RANCHI, Jharkhand - 834001, INDIA |
A16224644 |
|
7 |
80018529 |
09/11/2006 * |
170,000,000 |
CANARA BANK |
S N GANGULY ROAD, RANCHI, Jharkhand - 834001, INDIA |
A07915739 |
|
8 |
90252539 |
16/11/2005 |
1,509,000 |
ICICI BANK LIMITED |
LAND MARK, VADODARA, Gujarat - 390007, INDIA |
- |
|
9 |
90251523 |
16/11/2005 |
14,500,000 |
CANARA BANK |
RANCHI MAIN BRANCH, S. N. GANGULY ROAD, RANCHI, Bihar - 834001, INDIA |
- |
|
10 |
90252360 |
01/12/2004 |
2,200,000 |
ICICI BANK LIMITED |
LAND MARK, RACE
COURSE CIRCLE, VADODARA, Gujarat |
- |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Bank Guarantee |
129.036 |
131.464 |
|
Total |
129.036 |
131.464 |
FIXED ASSETS
- Land
- Computer
- Computer
Equipments
- Furniture and
Fixtures
- Motor
Vehicles
- Office
Equipments
- Plant and
Machinery
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.63.37 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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
unfavorable 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.