MIRA INFORM REPORT

 

 

Report No. :

326617

Report Date :

10.06.2015

 

IDENTIFICATION DETAILS

 

Name :

NSW INDIA LIMITED

 

 

Registered Office :

C-255, Mayapuri Industrial Area, Phase-II, New Delhi-110063

Tel. No.:

91-11-28112609

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.10.1998

 

 

Com. Reg. No.:

55-096577

 

 

Capital Investment / Paid-up Capital :

Rs.4.136 Million

 

 

CIN No.:

[Company Identification No.]

U29141DL1998PLC096577

 

 

IEC No.:

0502054824

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELN0657C / DELN03488C / DELN03484F

 

 

PAN No.:

[Permanent Account No.]

AAACN9687R / AAACN9687R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Importer and Exporter of Ovens and Machinery.

 

 

No. of Employees :

115 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 24000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

Profitability of the company seems to be low during 2014. However, general financial position of the company seems to be decent.

 

Trade relations are reported as fair. Business is active. Payments 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

 

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 :

Ms. Shaila

Designation :

Admin. Department

Contact No.:

91-124-2371106

Date :

09.06.2015

 

 

LOCATIONS

 

Registered/ Corporate Office/ Factory 1:

C-255, Mayapuri Industrial Area, Phase-II, New Delhi-110063, India

Tel. No.:

91-11-28112609/ 281110173

Mobile No.:

91-9810054075/ 9871195988 (Mr. Rajesh Narang)

91-9810030657 (Mr. Krishan Chander Narang)

Fax No.:

91-11-28112491

E-Mail :

corporate@nswindia.com

nnrm@rediffmail.com

r.narang@nswindia.com

finance@nswindia.com

Website :

www.nswindia.com

Location :

Owned

 

 

Factory 2 :

Plot No. 43-44, Sector 34, A.H. T.P., Gurgaon-122001, Haryana, India

Tel. No.:

91-124-2371106 / 2371820 / 4030679 / 4033679 / 5030679

Fax No.:

91-124-2372859

 

 

DIRECTORS

 

AS ON 27.09.2014

 

Name :

Mr. Krishan Chander Narang

Designation :

Whole Time Director

Address :

B1/55, 2nd Floor, Safdarjung Enclave, New Delhi - 110049, India

Date of Birth/Age :

03.11.1942

Date of Appointment :

08.10.1998

DIN No.:

00165445

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U29141DL1998PLC096577

NSW INDIA LIMITED

Director

08-10-1998

08-10-1998

Active

NO

2

U72900DL1995PTC066273

MAHAVIR SYSTEMS AND CONTROLS PRIVATE LIMITED

Director

18-01-1999

18-01-1999

Active

NO

 

 

Name :

Mr. Rajesh Narang

Designation :

Managing Director

Address :

B1/55, 2nd Floor, Safdarjung Enclave, New Delhi - 110049, India

Date of Birth/Age :

13.09.1971

Date of Appointment :

08.10.1998

DIN No.:

00165492

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29192DL1990PTC039520

ANCO CONTROLS PRIVATE LIMITED

Director

15-03-1990

15-03-1990

20-06-2008

Strike off

NO

2

U74899DL1994PTC058323

MISCAB INDIA PRIVATE LIMITED

Director

15-07-1996

15-07-1996

-

Active

NO

3

U29141DL1998PLC096577

NSW INDIA LIMITED

Managing director

08-10-1998

08-10-1998

-

Active

NO

4

U72900DL1995PTC066273

MAHAVIR SYSTEMS AND CONTROLS PRIVATE LIMITED

Director

18-01-1999

18-01-1999

-

Active

NO

 

 

Name :

Mrs. Prem Narang

Designation :

Director

Address :

D-1/8, Rajouri Gardan, New Delhi - 110027, India

Date of Birth/Age :

14.04.1949

Date of Appointment :

16.11.1998

DIN No.:

00287680

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U74899DL1994PTC058323

MISCAB INDIA PRIVATE LIMITED

Director

15-07-1996

15-07-1996

Active

NO

2

U29141DL1998PLC096577

NSW INDIA LIMITED

Director

16-11-1998

16-11-1998

Active

NO

 

 

Name :

Mrs. Pooja Narang

Designation :

Director

Address :

D 1/8, Rajouri Garden, New Delhi - 110027, India

Date of Birth/Age :

01.10.1974

Date of Appointment :

16.11.1998

DIN No.:

00208669

 

 

KEY EXECUTIVES

 

Name :

Ms. Shaila

Designation :

Admin. Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 27.09.2014

 

Names of Shareholders

No. of Shares

Percentage of Holding

Krishan Chander Narang

80800

19.54

Rajesh Narang

75200

18.18

Prem Narang

256800

62.09

Pooja Narang

800

0.19

Total

 

413600

100.00

 

 

 

AS ON 27.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Importer and Exporter of Ovens and Machinery.

 

 

Products :

 Ovens

  • Industrial Ovens
  • Tray Dryers
  • High Temperature Oven
  • Industrial Oil Fired Ovens
  • Roto Curing Oven
  • Inert Gas Oven
  • Zipper Ovens and Machinery

Conveyorised Ovens

  • Flat Belt Conveyor Ovens
  • Oil Fired Conveyorised Oven
  • Tripple Deck Conveyorised System
  • Vertical Conveyorised Oven
  • Monorail Overhead Conveyorised Oven
  • Monorail Floor Conveyorised Oven
  • Shrink Wrapping Machine

Special Purpose Machines

  • Glass Washing Conveyor

Powder Coating and Spray PaintingPlants and Equipment's

  • Powder Coating Booth
  • Spray Painting Booth
  • Tunnel Type Conveyor Ovens

Conveyors and Automation Systems

  • Overhead Conveyor
  • Floor Conveyor
  • Assembly Conveyor
  • Roller Conveyor
  • Combination Conveyor

Infrared heating systems

 

Rear View Mirror Coating Plant

 

Curtain Coater

 

Geomat and Dacro Coating Plant

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Dubai

·         Tanzania

·         Germany

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

·         Abhishek Electricals

·         Ajanta Control Systems

·         Bhavya Polymers

·         Durgesh Industries

·         Girnar Metal and Tubes

·         Guruji Trader

·         Gyan Enterprises

·         Karan Engineering Company

·         Vashi Electricals Private Limited

·         Instronix India

 

Reference:

Raja Paint, Gurgaon

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturer

 

·         Affiina Mat India Braking Private Limited

·         Alliance Friction Tech Private Limited

·         Allied Nippon Limited (UP)

·         Denso India Limited

·         FCC Rico Limited

·         Jay Ace Technologies

·         Lakshmi Precesion Screw Limited

·         Roop Rubber Mills Limited

·         SJM Filters Private Limited

·         Y-Tech India Limited

·         Vandy Creations

 

Reference:

Lumax Industries Limited, Pune

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

115 (Approximately)

 

 

Bankers :

Bank Name:

Syndicate Bank

Branch:

6-7, Rishi Bhawan, Community Centre, Phase-I, Mayapuri,, New Delhi - 110064, Delhi, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

From bank

 

 

Syndicate Bank (Overdraft-CC Limit)

24.708

0.990

Syndicate Bank (Cash Credit Account)

0.000

8.323

ICICI Bank Limited (Vehicle Loan)

0.716

0.000

 

 

 

From other

 

 

Volkswagens Finance Private Limited (Vehicle Loan)

0.389

0.630

Scoda Finance Private Limited (Vehicle Loan)

0.782

0.000

Total

26.595

9.943

 

Banking Relations :

--

 

 

Financial Institution :

·         Volkswagens Finance Private Limited

·         Scoda Finance Private Limited

 

 

Auditors :

 

Name :

R. Mediratta and Associates

Chartered Accountants

Address :

1105, Vikrant Tower, Rajendra Place, New Delhi – 110008, India

Tel. No.:

91-11-25864849 / 25851794

E-Mail :

nnrm@rediffmail.com

Website :

www.rmediratta.com

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

AAAPM3114D

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs. 5.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

413600

Equity Shares

Rs.10/- each

Rs. 4.136 Millions

 

 

 

 

 

 

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

4.136

4.136

2.068

(b) Reserves & Surplus

4.332

3.697

4.976

(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)

8.468

7.833

7.044

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

26.595

9.943

8.232

(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)

26.595

9.943

8.232

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

5.438

(b) Trade payables

17.133

15.864

11.252

(c) Other current liabilities

9.149

17.549

1.545

(d) Short-term provisions

0.420

0.385

0.272

Total Current Liabilities (4)

26.702

33.798

18.507

 

 

 

 

TOTAL

61.765

51.574

33.783

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

8.563

6.984

6.776

(ii) Intangible Assets

0.000

0.000

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

0.350

0.264

0.243

(e) Other Non-current assets

0.034

0.034

0.034

Total Non-Current Assets

8.947

7.282

7.053

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

23.938

23.187

8.557

(c) Trade receivables

21.602

17.567

15.762

(d) Cash and cash equivalents

5.099

0.274

0.744

(e) Short-term loans and advances

0.918

0.167

0.306

(f) Other current assets

1.261

3.097

1.361

Total Current Assets

52.818

44.292

26.730

 

 

 

 

TOTAL

61.765

51.574

33.783

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

98.651

75.725

73.953

 

 

Other Income

0.471

0.055

0.083

 

 

TOTAL                                     (A)

99.122

75.780

74.036

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of Stock-in-Trade

72.750

67.938

57.190

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(0.751)

(14.630)

(2.705)

 

 

Employees benefits expense

11.642

9.451

8.064

 

 

Prior period payments

0.022

0.000

0.000

 

 

Other expenses

11.048

9.830

8.611

 

 

TOTAL                                     (B)

94.711

72.589

71.160

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

4.411

3.191

2.876

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

2.328

1.350

1.462

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

2.083

1.841

1.414

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1.118

0.688

0.611

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

0.965

1.153

0.803

 

 

 

 

 

Less

TAX                                                                  (H)

0.330

0.364

0.251

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

0.635

0.789

0.552

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Capital Goods

1.275

2.323

0.000

 

TOTAL IMPORTS

1.275

2.323

0.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

1.53

1.91

2.67

 

 

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

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.64

1.04

0.75

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

4.47

4.21

3.89

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.56

2.24

2.38

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.11

0.15

0.11

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

3.14

1.27

1.94

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.98

1.31

1.44

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

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

2.068

4.136

4.136

Reserves & Surplus

4.976

3.697

4.332

Money received against Share Warrants

0.000

0.000

0.000

Share Application Money Pending Allotment

0.000

0.000

0.000

Net Worth

7.044

7.833

8.468

 

 

 

 

Long-term Borrowings

8.232

9.943

26.595

Short-term Borrowings

5.438

0.000

0.000

CURRENT MATURITIES OF LONG-TERM DEBTS

0.000

0.000

0.000

Total Borrowings

13.670

9.943

26.595

Debt/Equity Ratio

1.941

1.269

3.141

 

 

 

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

73.953

75.725

98.651

 

 

2.396

30.275

 

 

 

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

73.953

75.725

98.651

Profit

0.552

0.789

0.635

 

0.75%

1.04%

0.64%

 

 

 

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

No

Yes

Major suppliers

Yes

Yes

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

--

33

Market information

--

34

Payments terms

Yes

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

10448757

22/07/2013

19,500,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA

B84865526

2

10206638

03/09/2013 *

3,600,000.00

SYNDICATE BANK

6-7, RISHI BHAWAN, COMMUNITY CENTRE,, PHASE-I, MAYAPURI, NEW DELHI, DELHI - 110064, INDIA

B84263581

3

10206642

25/02/2010

2,600,000.00

SYNDICATE BANK

MAYAPURI, NEW DELHI - 110064, INDIA

A80656275

4

10017110

03/09/2013 *

25,000,000.00

SYNDICATE BANK

6-7, RISHI BHAWAN, COMMUNITY CENTRE,, PHASE-I, MAYAPURI, NEW DELHI - 110064, INDIA

B84321298

 

* Date of charge modification

PERFORMANCE

 

Durin the year, the turnover has been recorded at Rs. 95.900 Million as against Rs. 72.600 Million for the previous year resulted an increase of 32% (Approx.). The increase in turnover of the company was due to the directors and staff in timely execution of the orders. The directors are hopeful that the turnover of the company for the next year on the basis of orders would be 1300 lakhs.

 

The working of the year resulted in net profit of Rs. 0.634 million as against 0.789 million fo the previous year after making all provisions of known liabilities, income tax and deferred tax.


FIXED ASSETS

 

·         Air conditioner

·         Camera

·         Cylinder

·         Generator

·         Machinery

·         Refrigerator

·         Projector

·         Water cooler

·         Furniture and fixtures

 

 

 

 

 

 

 

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. 63.94

UK Pound

1

Rs. 98.27

Euro

1

Rs. 72.37

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

MRI

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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.