MIRA INFORM REPORT
|
Report No. : |
326795 |
|
Report Date : |
12.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
FIRST FLIGHT COURIERS LIMITED |
|
|
|
|
Registered
Office : |
G-1001/02, Lotus Corporative Park, Off Jay Coach, Flyover, Western
Express Highway, Goregoan (East), Mumbai – 400063, Maharashtra |
|
Tel. No.: |
91-22-39576666 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
02.05.1988 |
|
|
|
|
Com. Reg. No.: |
11-047228 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 162.748 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64100MH1988PLC047228 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF03357E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF0841R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
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Line of Business
: |
Subject engaged in the business of transportation of time-sensitive packages, documents and cargo to various destinations in the domestic and international sectors. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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 satisfactory track record. The Company has incurred a loss during FY 2014 However, the rating takes
into consideration company satisfactory net worth position with low
borrowing. General financial position of the company is normal and acceptable for
business dealings. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The company can be considered normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating (BBB-) |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk |
|
Date |
March 4, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating (A3) |
|
Rating Explanation |
Moderate degree of safety and carry higher credit risk |
|
Date |
March 4, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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
Management Non-co-operative (91-22-39576666)
LOCATIONS
|
Registered Office : |
G-1001/02, Lotus Corporative Park, Off Jay Coach, Flyover, Western Express
Highway, Goregoan (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-39576666 |
|
Fax No.: |
91-22-39520803 |
|
E-Mail : |
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|
Website : |
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Regional Head Office : |
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|
International Offices |
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DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Om Prakash Saboo |
|
Designation : |
Whole-time Director |
|
Address : |
B-203, 20th Floor, Kalpataru Horizon, S.K. Ahir Marg, Worli
Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1950 |
|
Date of Appointment : |
02.05.1988 |
|
DIN No. : |
00249745 |
|
|
|
|
Name : |
Mr. Rajkumar Saboo |
|
Designation : |
Whole-time Director |
|
Address : |
302, Gardenia – B, Gokuldham, Vasant Valley complex, Film City Road,
Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
11.04.19645 |
|
Date of Appointment : |
20.05.1988 |
|
DIN No. : |
00249413 |
|
|
|
|
Name : |
Mr. Narendra Kumar Somani |
|
Designation : |
Whole-time Director |
|
Address : |
601/602, Indra Darshan, Building No.18, New |
|
Date of Birth/Age : |
11.08.1946 |
|
Date of Appointment : |
15.06.1989 |
|
DIN No. : |
00250794 |
|
|
|
|
Name : |
Mr. Arun Kumar Srivastava |
|
Designation : |
Whole-time Director |
|
Address : |
1st Floor, Mandakini, Greater Kailash – IV, |
|
Date of Birth/Age : |
06.01.1952 |
|
Date of Appointment : |
07.06.2007 |
|
DIN No. : |
01211459 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. Chong Kwee Lee |
|
Designation : |
Director |
|
Address : |
APT BLK 9 Jalan Membina # 23-05, |
|
Date of Birth/Age : |
24.08.1956 |
|
Date of Appointment : |
15.02.2008 |
|
DIN No. : |
02213690 |
|
|
|
|
Name : |
Mr. Shrikant Madhukar Bhide |
|
Designation : |
Director |
|
Address : |
31 03 Shreesh 187, |
|
Date of Birth/Age : |
27.08.1951 |
|
Date of Appointment : |
15.02.2008 |
|
DIN No. : |
00259180 |
KEY EXECUTIVES
|
Name : |
Ms. Supriya Rajkumar Agarwal |
|
Designation : |
Secretary |
|
Address : |
B-403, Chandrakant Residency, near Maxus Mall, 150 Feet Rad, Padmavati
Nagar, Bhayander (West), Thane – 401101, Maharashtra, India |
|
Date of Birth/Age : |
15.10.1988 |
|
Date of Appointment : |
08.07.2014 |
|
PAN : |
ATOPA1901H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
Shareholders Filed Attached
As on 29.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
27.22 |
|
Bodies corporate |
51.65 |
|
Directors or relatives of Directors |
21.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in the business of transportation of
time-sensitive packages, documents and cargo to various destinations in the domestic
and international sectors. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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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 : |
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Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountant |
|
Address : |
Block B-H 5th Floor Nirlon Knowledge Park Goregaon (East) Mumbai – 400013, Maharashtra, India |
|
PAN No.: |
ACHFS9118A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises where significant
influence is exercised by Director: |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
Rs. 10/- each |
Rs. 170.000 Million |
|
300000 |
Preference Shares |
Rs. 100/- each |
Rs. 30.000 Million |
|
|
Total |
|
Rs. 200.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14771296 |
Equity Shares |
Rs. 10/- each |
Rs.147.713
Million |
|
150350 |
Preference Shares |
Rs. 100/- each |
Rs. 15.035
Million |
|
|
Total |
|
Rs. 162.748 Million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
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 |
162.748 |
162.748 |
162.748 |
|
(b) Reserves &
Surplus |
192.891 |
520.059 |
300.663 |
|
(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) |
355.639 |
682.807 |
463.411 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
4.097 |
0.000 |
0.825 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
86.856 |
78.981 |
57.298 |
|
(d) long-term provisions |
237.325 |
220.656 |
207.574 |
|
Total Non-current
Liabilities (3) |
328.278 |
299.637 |
265.697 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
120.595 |
177.670 |
228.927 |
|
(b) Trade payables |
533.862 |
412.862 |
333.071 |
|
(c) Other current
liabilities |
712.851 |
598.984 |
555.443 |
|
(d) Short-term provisions |
270.581 |
270.763 |
256.898 |
|
Total Current Liabilities
(4) |
1637.889 |
1460.279 |
1374.339 |
|
|
|
|
|
|
TOTAL |
2321.806 |
2442.723 |
2103.447 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
441.083 |
416.154 |
206.016 |
|
(ii) Intangible Assets |
8.471 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
3.285 |
13.755 |
1.032 |
|
(iv) Intangible assets
under development |
34.782 |
18.938 |
0.000 |
|
(b) Non-current
Investments |
0.416 |
0.416 |
0.416 |
|
(c) Deferred tax assets
(net) |
0.000 |
137.483 |
122.023 |
|
(d) Long-term Loan and Advances |
349.426 |
345.769 |
506.955 |
|
(e) Other Non-current
assets |
15.915 |
11.218 |
12.508 |
|
Total Non-Current Assets |
853.378 |
943.733 |
848.950 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
1003.652 |
1015.387 |
797.224 |
|
(d) Cash and cash
equivalents |
331.531 |
368.765 |
320.570 |
|
(e) Short-term loans and
advances |
106.880 |
63.290 |
80.858 |
|
(f) Other current assets |
26.365 |
51.548 |
55.845 |
|
Total Current Assets |
1468.428 |
1498.990 |
1254.497 |
|
|
|
|
|
|
TOTAL |
2321.806 |
2442.723 |
2103.447 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
5231.725 |
4996.717 |
4619.464 |
|
|
Other Income |
55.967 |
46.227 |
31.114 |
|
|
TOTAL (A) |
5287.692 |
5042.944 |
4650.578 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
1857.650 |
1647.863 |
1550.636 |
|
|
Other expenses |
3536.988 |
3102.273 |
2978.252 |
|
|
Prior period items |
0.000 |
0.000 |
(1.093) |
|
|
TOTAL (B) |
5394.638 |
4750.136 |
4527.795 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
(106.946) |
292.808 |
122.783 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
13.288 |
17.960 |
31.472 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
(120.234) |
274.848 |
91.311 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
69.450 |
66.609 |
60.007 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(189.684) |
208.239 |
31.304 |
|
|
|
|
|
|
|
Less |
TAX (I) |
137.483 |
(12.411) |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
(327.167) |
220.650 |
31.304 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
(423.512) |
(642.909) |
-674.213 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend |
0.000 |
1.039 |
0.000 |
|
|
Tax on Dividend |
0.000 |
0.214 |
0.000 |
|
|
Total (M) |
0.000 |
1.253 |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (J+K+L-M) |
(750.679) |
(423.512) |
(642.909) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
International Service
Charge |
6.400 |
5.688 |
4.554 |
|
|
TOTAL EARNINGS |
6.400 |
5.688 |
4.554 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(22.15) |
14.85 |
2.05 |
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 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(6.25) |
4.42 |
0.68 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(2.04) |
5.86 |
2.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.31) |
9.16 |
1.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.53) |
0.30 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.35 |
0.26 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
1.03 |
0.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
162.748 |
162.748 |
162.748 |
|
Reserves & Surplus |
300.663 |
520.059 |
192.891 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
463.411 |
682.807 |
355.639 |
|
|
|
|
|
|
long-term borrowings |
0.825 |
0.000 |
4.097 |
|
Short term borrowings |
228.927 |
177.670 |
120.595 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
229.752 |
177.670 |
124.692 |
|
Debt/Equity ratio |
0.496 |
0.260 |
0.351 |
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 |
4619.464 |
4996.717 |
5231.725 |
|
|
|
8.167 |
4.703 |
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 |
4619.464 |
4996.717 |
5231.725 |
|
Profit |
31.304 |
220.650 |
-327.167 |
|
|
0.68% |
4.42% |
-6.25% |
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 |
Yes |
|
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 |
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 |
Yes |
|
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 |
FINANCIAL
HIGHTLIGHTS:
The performance of the Company during the reporting period has not been satisfactory. The Company has over achieved the yield in all the segment but due to volume not coming up, it resulted into loss after tax Rs. 324.009 Million as compared to profit after tax Rs. 220.650 Million for the financial year 2012-2013.
The Directors are making efforts to turn around the situation of the Company from loss making to profit making by reducing the expenses in all possible area and increasing the volume of sales.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10539057 |
30/12/2014 |
73,200,000.00 |
RELIGARE FINVEST LIMITED |
D3, P3B, DISTRICT CENTRE, SAKET, NEW DELHI, DELHI - 110017, INDIA |
C38314167 |
|
2 |
10322708 |
23/11/2011 |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B27695949 |
|
3 |
80018113 |
23/12/2011 * |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B29391315 |
FIXED ASSETS
- Land
- Buildings
- Office building
- Other building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
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. 63.89 |
|
|
1 |
Rs. 98.90 |
|
Euro |
1 |
Rs. 72.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.