MIRA INFORM REPORT

 

 

Report No. :

333659

Report Date :

25.07.2015

 

IDENTIFICATION DETAILS

 

Name :

NEEL AGROTECH PRIVATE LIMITED (w.e.f. 02.04.2007)

 

 

Formerly Known As :

NEEL BIO-TECH PRIVATE LIMITED

 

NEEL BIO-ORGANICS PRIVATE LIMITED

 

 

Registered Office :

S/3, Navrang, Swastik Cross Roads, Navrangpura, Ahmedabad – 380009, Gujarat

Tel. No.:

91-079-26568012

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

10.06.1997

 

 

Com. Reg. No.:

04-032490

 

 

Capital Investment / Paid-up Capital :

Rs.12.068 Million

 

 

CIN No.:

[Company Identification No.]

U36941GJ1997PTC032490

 

 

IEC No.:

0800006844

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Marketing of Agri-Products, Service provider of greenhouse, Poly house, consulting and turnkey projects on agriculture cultivation, contract cultivation

 

 

No. of Employees :

10 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (15)

 

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 :

Slow

 

 

Litigation :

Exist

 

 

Comments :

Subject is established company having moderate track record.

 

During FY 2014, the company has shown weak operating performance and have reported heavy losses from its operating activities.

 

Further rating is constrained on company, due to accumulated losses over the years company’s net worth position is fully eroded during the year under review.

 

Business is active. Payments are reported as slow.

 

In view of a accumulated losses backed by its negative reserves, the company can be considered for the business dealing on a fully 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.

 

ECGC Country Risk Classification List – March 31, 2015

 

 

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

 

Name :

Ms. Brinda

Designation :

Accountant

Contact No.:

91-79-26568012

Date :

24.07.2015

 

 

LOCATIONS

 

Registered Office :

S/3, Navrang, Swastik Cross Roads, Navrangpura, Ahmedabad – 380009, Gujarat, India

Tel. No.:

91-79-26568012

Mobile No.:

91-9662537793 (Mr. Palak Shah)

Fax No.:

91-79-26409327

E-Mail :

info@neel.co.in

Website :

http://www.neel.co.in

 

 

DIRECTORS

 

As on 11.09.2014

 

Name :

Mr. Dewang Gautambhai Shah

Designation :

Managing Director

Address :

10B, Navyug Society, Near Nehrunagar Crossroad, Ambawadi, Ahmedabad – 380015, Gujarat, India 

Date of Birth/Age :

17.01.1967

Date of Appointment :

01.04.2013

DIN No :

00009984

 

 

Name :

Mr. Mitul Gautambhai Shah

Designation :

Managing Director

Address :

150, Manekbaug Society, Behind Maneklbaug Hall, Ambawadi, Ahmedabad – 380015, Gujarat, India.

Date of Birth/Age :

01.11.1972

Date of Appointment :

01.04.2013

DIN No :

00011148

 

 

Name :

Mr. Chetan Kalyanbhai Sutaria

Designation :

Director

Address :

C.o Laljibhai Nanjibhai Patel, 44 Sangna Rander Road, Next to Navyug college, Surat – 395009, Gujarat, India

Date of Appointment :

15.10.2005

DIN No :

01307729

 

 

KEY EXECUTIVES

 

Name :

Ms. Brinda

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 11.09.2014

 

Names of Shareholders

 

No. of Shares

Shah Gautam Shantilal       

 

120000

Shah Gautam Shantilal   HUF 2

 

60000

Shah Tarlika Gautam

 

20000

Shah Dewang Gautambhai

 

250000

Shah Dewang Gautambhai HUF

 

25000

Shah Darshikaben Dewangbhai

 

25000

Shah Mitul Gautambhai

 

250000

Shah Mitul Gautambhai HUF

 

25000

Shah Minal Mitulbhai

 

25000

Shah Madhukantaben R

 

1

Sutaria Chetanbhai Kalyanbhai

 

10

Chavda Vaghjibhai Jadavbhai

 

10

Neshiel Chemical Private Limited, India

 

361000

Neshiel Mines Chemical Private Limited, India

 

35000

Patel Parul Ashok

Patel Amisha Ashok

 

3000

Patel Kaushal Ashok

Patel Amisha Ashok

 

2000

Prashant Tripathi

 

4000

Bhasker Dev Panchal

 

1800

Total

 

1206821

 

Equity Share Break up (Percentage of Total Equity)

 

As on 11.09.2014

 

Category

 

Percentage

 

 

 

Bodies corporate

 

32.81

Directors or relatives of directors

 

67.19

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Marketing of Agri-Products, Service provider of greenhouse, Poly house, consulting and turnkey projects on agriculture cultivation, contract cultivation

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit (30/60/90 Days)

 

 

Purchasing :

Cash and Credit (30/60/90 Days)

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :
  • Star Agro Limited, Kolhapur, Maharashtra, India
  • IFFCO Limited, Kalol, Gujarat, India
  • Cadila Pharmaceutical

 

Reference :

Anand Agriculture Limited

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 :

10 (Approximately) 

 

 

Bankers :
  • State Bank of India, Lal Darwaja, Main Branch, Ahmedabad - 380001, Gujarat, India

 

Bank Name

The Kalupur Commercial Co-Operative Bank Limited

Branch

Kalupur Bank Bhavan, Ashram Road, Ahmedabad - 380014, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

91-79-27582020

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)

The concern person was not available

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loan from financial institution

0.000

0.105

 

 

 

SHORT TERM BORROWING

 

 

Working capital loan from banks

2.587

0.013

Total

2.587

0.118

 

Auditors :

 

Name :

J T Shah and company

Chartered Accountant

Address :

201/202, Lalita Complex, 352/3, Rasala Marg, Narvrangpura, Ahmedabad – 380009, Gujarat, India.

Tel. No.:

91-26444420/26444430/2644440

Fax No.:

91-26560440

E-Mail :

info@itshahco.com

PAN No.:

AABFJ6616J

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates :

Dewang Corporation

 

 

CAPITAL STRUCTURE

 

As on 11.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1206821

Equity Shares

Rs.10/- each

Rs.12.068 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

12.068

12.068

12.068

(b) Reserves & Surplus

(14.021)

(11.843)

(15.397)

(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)

(1.953)

0.225

(3.329)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.105

0.140

(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

0.105

0.140

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

22.371

17.782

23.953

(b) Trade payables

4.377

12.299

4.340

(c) Other current liabilities

2.205

13.934

4.577

(d) Short-term provisions

0.060

0.504

0.053

Total Current Liabilities (4)

29.013

44.519

32.923

 

 

 

 

TOTAL

27.060

44.849

29.734

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

6.705

7.095

6.551

(ii) Intangible Assets

0.004

0.005

0.006

(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

0.250

0.250

0.050

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.180

0.294

0.438

(e) Other Non-current assets

0.000

0.000

0.082

Total Non-Current Assets

7.139

7.644

7.127

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

6.464

14.015

11.608

(c) Trade receivables

9.239

11.165

6.472

(d) Cash and cash equivalents

0.568

8.412

0.584

(e) Short-term loans and advances

3.650

3.613

3.915

(f) Other current assets

0.000

0.000

0.028

Total Current Assets

19.921

37.205

22.607

 

 

 

 

TOTAL

27.060

44.849

29.734

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Sales

49.676

81.843

50.534

 

Franchisee Fess

 NA

NA

1.685

 

Govt. Subsidy Income

 NA

NA

0.103

 

TOTAL

 NA

NA

52.219

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

NA

NA

(7.509)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

NA

NA

0.424

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

NA

NA

(7.933)

 

 

 

 

 

Less

TAX

NA

NA

0.003

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(2.177)

3.553

(7.936)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

NA

1.667

18.423

 

 

 

 

 

 

IMPORTS

 

 

 

 

Project Material

0.333

0.395

3.921

 

Seeds (Trading Materials)

0.898

0.910

0.000

 

Capital Goods

 

 

 

 

TOTAL IMPORTS

1.231

1.305

3.921

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 (1.80)

2.94

(6.59)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.034

0.035

0.035

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(4.38)

4.34

(15.70)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.00

0.00

(26.72)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.00

0.00

2.38

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

(11.47)

79.65

(7.25)

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.69

0.84

0.69

 

 

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

12.068

12.068

12.068

Reserves & Surplus

(15.397)

(11.843)

(14.021)

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

(3.329)

0.225

(1.953)

 

 

 

 

long-term borrowings

0.140

0.105

0.000

Short term borrowings

23.953

17.782

22.371

Current maturities of long-term debts

0.035

0.035

0.034

Total borrowings

24.128

17.922

22.405

Debt/Equity ratio

(7.248)

79.653

(11.472)

 

 

 

 

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

50.534

81.843

49.676

 

 

61.956

(39.303)

 

 

 

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

50.534

81.843

49.676

Profit

(7.936)

3.553

(2.177)

 

(15.70%)

4.34%

(4.38%)

 

 

 

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

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

Yes

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

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS

 

 

 

LITIGATION DETAILS

HIGH COURT OF GUJARAT

 

STAMP NUMBER No. 3217 of 2013 

 

Status : PENDING

CCIN No : 001087201303217

 

Coram

Name of the Petitioner

 

STATE OF GUJARAT

Advocate on Record

 

GOVERNMENT PLEADER for : Petitioner (s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

 

S.NO.

Name of the Respondant

Advocate On Record

1

NEEL AGROTECH PRIVATE LIMITED

NANAVATI ASSOCIATES for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

 

Presented On

: 06/12/2013

Registered On

:

Bench Category

: -

District

: AHMEDABAD

Case Originated From

: THROUGH ADVOCATE

Listed

: 0 times

 

Stage Name

 

Classification

DB – OJ –TAX APPEAL – CUSTOMS ACT, 1962 – APPEAL TO HIGH COURT – U/S 260 A OF IT ACT

Act

SALES TAX ACT, 1969

Other Forums

S.No.

CASEDETAILS

TRIBUNAL REFERRENCE

ORDER PASSED BY

JUDGEMENT DATE

PLACE

1

SA/460/2011

GUJARAT VALUE ADDES TAX TRIBUNAL AHMEDABAD

RETD. PRESIDENT AND MEMBER

02/07/2012

AHMEDABAD

 

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

06/12/2013

APPEARANCE NOTE

GOVERNMENT PLEADER 
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

GOVERNMENT PLEADER(1) for P:1

2

06/12/2013

CERTIFIED COPY

GOVERNMENT PLEADER 
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

GOVERNMENT PLEADER(1) for P:1

3

06/12/2013

MEMO OF APPEAL/PETITION/SUIT

GOVERNMENT PLEADER 
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

200

GOVERNMENT PLEADER(1), for P:1

4

31/01/2014

VAKALATNAMA

NANAVATI ASSOCIATES ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

NANAVATI ASSOCIATES(1375) for R:1

 

 

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Loans from Directors and related parties

19.784

17.769

 

 

 

Total

19.784

17.769

 

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10404908

28/01/2013

9,000,000.00

THE KALUPUR COMM. CO. OP. BANK LTD.

KALUPUR BHAVAN, INCOME TAX., AHMEDABAD, GUJARAT - 
380014, INDIA

B68691799

*Date of charge modification

 

 

FIXED ASSETS

 

  • Freehold
  • Buildings – Factory Buildings
  • Buildings – Other Buildings
  • Plant and Machinery
  • Furniture and Fixtures
  • Patents and Trademarks
  • Vehicles

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.63.89

UK Pound

1

Rs.99.10

Euro

1

Rs.70.12

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRP

 

 

Analysis Done by :

KSH

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILITY

1~10

-

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

-

--CREDIT LINES

1~10

2

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

15

 

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.