MIRA INFORM REPORT

 

 

Report No. :

327399

Report Date :

19.06.2015

 

IDENTIFICATION DETAILS

 

Name :

GUJARAT MICROWAX PRIVATE LIMITED (w.e.f. 05.01.1989)

 

 

Formerly Known As :

GUJARAT MICROWAX LIMITED

 

 

Registered Office :

401 and 402, Sarthik Square, Nr GNFC Tower, Opposite Taj Motors, Sarkhejgandhinagar, Highway Bodakdev, Ahmedabad - 380-054, Gujarat 

Tel. No.:

91-79-26852181

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

05.01.1989

 

 

Com. Reg. No.:

04-011737

 

 

Capital Investment / Paid-up Capital :

Rs. 28.472 Million

 

 

CIN No.:

[Company Identification No.]

U24229GJ1989PTC011737

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACG5593P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Microcrystalline Cellulose Powder used in Pharmaceutical Industries.

 

 

No. of Employees :

300 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (53)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 1900000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is the flagship company of Ahmedabad based Jhajharia family.

 

It was incorporated in the year 1989 and it is an Ahmedabad Based company engaged in manufacturing of microcrystalline cellulose powder, used as an excipient in the pharmaceutical and food ingredient industry.

 

It is established company having fine track.

 

Financial position of the company seems to be sound.

 

Trade relations are fair. Business is active. Payment terms are reported to be regular and per commitments.

 

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

ICRA

Rating

Long Term Fund Based limit = BBB

Rating Explanation

Have moderate degree of safety and carry moderate credit risk

Date

May 2014

 

 

Rating Agency Name

ICRA

Rating

Short term non fund based limit = A3+

Rating Explanation

Have moderate degree of Safety and carry higher credit risk

Date

May 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) 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 :

Mr. Jay Prakash 

Designation :

Comm. Manager

Contact No.:

91-79-26852181

Date :

17.06.2015

 

 

LOCATIONS

 

Registered Office :

401 and 402, Sarthik Square, Nr GNFC Tower, Opposite Taj Motors, Sarkhejgandhinagar, Highway Bodakdev, Ahmedabad - 380-054, Gujarat, India  

Tel. No.:

91-79-26852181

Fax No.:

91-79-26854169

E-Mail :

jp@gmail.com

Website :

http://www.gmail.com

Location :

Owned

Locality:

Commercial

 

 

Factory :

Located at Nandasan Village, District Mehsana, Gujarat, India

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Manas Anilkumar Jhajharia

Designation :

Director

Address :

25.09.1975

Date of Birth/Age :

36, Sumdhur Co-Operative Housing Society, Satellite Road, Ahmedabad – 380015, Gujarat, India

Date of Appointment :

20.09.2007

DIN No. :

00241611

 

 

Name :

Mr. Anilkumar Nandkishore Jhajharia

Designation :

Director

Address :

36, Sumdhur Co-Op Housing Society, Satellite Road, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

25.11.1947

Date of Appointment :

05.01.1989

DIN No. :

00336740

 

 

Name :

Josef Otto Rettenmaier

Designation :

Director

Address :

Holzmuhle 6, Rosenberg, Germany 73494

Date of Birth/Age :

22.01.1961

Date of Appointment :

23.06.2006

DIN No. :

02095744

 

 

Name :

Heinrich Ernst Wilhelm Petersen

Designation :

Director

Address :

Lessingstr. 2, Adelmannsfelden, Germany 73486

Date of Birth/Age :

09.09.1949

Date of Appointment :

30.06.2008

DIN No. :

02166885

 

 

KEY EXECUTIVES

 

Name :

Mr. Jay Prakash 

Designation :

Comm. Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

Anilkumar Jhajharia

 

929120

Manas Jhajharia

 

108080

Meenakshi Jhajharia

 

125000

Swati Jhajharia

 

76800

Anilkumar Jhajharia HUF

 

127650

Manas Jhajharia HUF

 

56975

Rettenmaier Asia Holding GMBH, Germany

 

1423625

 

 

 

Total

 

2847250

 

Equity Share Break up (Percentage of Total Equity)

 

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

50.000

Directors or relatives of Directors

50.000

 

 

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Microcrystalline Cellulose Powder used in Pharmaceutical Industries.

 

 

Products :

Item Code No.

Product Description
  • 39121010

 

  • 29420090
  • Micro Cellulose Crystalline Powder
  • Sodium Starch Glycolate, Cross Carmellose Sodium

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Countries :
  • European countries
  • South Africa
  • Middle East
  • USA
  • UK
  • UAE
  • Malasia
  • Switzerland
  • Kenya
  • Srilanka

 

 

Imports :

 

Products :

Raw Material 

Countries :
  • USA
  • Germany
  • South Africa

 

 

Terms :

 

Selling :

Cheque and Credit

 

 

Purchasing :

Cheque and Credit

 

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 :

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

 

 

No. of Employees :

300 (Approximately) 

 

 

Bankers :

Bank Name

State Bank of India

Branch

Overseas Branch, 3rd Floor, Amrut Jayanti Bhavan, Near Navjivan P.O., Ahmedabad - 380014, Gujarat, 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 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)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Working capital loans from banks 

29.935

42.538

 

 

 

Total

29.935

42.538

 

Auditors :

 

Name :

Pipara and Company

Chartered Accountants

Address :

Pipara Corporate House, Near Gruh Finance, Netaji Mark, Law Garden, Ahmedabad – 380006, Gujarat, India

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

AABFP9063B

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates:

·         Gujarat Overseas Inc.

·         Gujarat Paraffins Private Limited

·         Gujarat Parachlore Private Limited

·         Rettenmaier Asia Holding GMBH

·         Shaili Bio‐Tech Private Limited

·         Gujarat Parawaxes (Private) Limited

·         Rettenmaier India Private Limited

 

 

CAPITAL STRUCTURE

 

As on 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3250000

Equity Shares

Rs.10/- each

Rs. 32.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2847250

Equity Shares

Rs.10/- each

Rs. 28.472 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

28.472

28.472

28.472

(b) Reserves & Surplus

645.948

452.269

331.395

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.005

0.010

0.010

Total Shareholders’ Funds (1) + (2)

674.425

480.751

359.877

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

39.224

48.855

48.727

(b) Deferred tax liabilities (Net)

41.678

38.800

36.772

(c) Other long term liabilities

1.904

0.088

0.000

(d) long-term provisions

0.000

 0.000

0.000

Total Non-current Liabilities (3)

82.806

87.743

85.499

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

168.591

185.415

206.105

(b) Trade payables

13.063

18.268

10.662

(c) Other current liabilities

33.646

19.698

32.417

(d) Short-term provisions

105.824

63.851

30.982

Total Current Liabilities (4)

321.124

287.232

280.166

 

 

 

 

TOTAL

1078.355

855.726

725.542

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

281.124

286.955

301.406

(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

0.018

0.018

0.018

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

108.431

59.924

27.274

(e) Other Non-current assets

 

 

3.098

Total Non-Current Assets

389.573

346.897

331.796

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

102.097

116.832

134.428

(c) Trade receivables

232.879

185.699

155.552

(d) Cash and cash equivalents

258.897

144.175

47.555

(e) Short-term loans and advances

88.353

57.857

9.295

(f) Other current assets

6.556

4.266

46.916

Total Current Assets

688.782

508.829

393.746

 

 

 

 

TOTAL

1078.355

855.726

725.542

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income (Gross)

1086.942

982.374

741.500

 

Other Income

N.A

N.A

N.A

 

TOTAL

N.A

N.A

N.A

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

N.A

N.A

N.A

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

N.A

N.A

127.081

 

 

 

 

 

Less

FINANCIAL EXPENSES

 N.A

N.A

8.861

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

316.086

199.381

118.220

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

19.527

18.939

18.502

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

296.559

180.442

99.718

 

 

 

 

 

Less

TAX

102.879

59.568

32.364

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

193.680

120.874

67.354

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

361.784

240.910

173.556

 

 

 

 

 

 

Balance Carried to the B/S

555.464

361.784

240.910

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

824.797

775.610

623.052

 

CIF

309.910

299.885

313.285

 

TOTAL EARNINGS

1134.707

1075.495

936.337

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 68.02

 42.45

 23.65

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1100.000

 

 

Expected Sales (2015-2016): Rs. 1100.000 Million

 

The above information has been parted by Mr. Jay Prakash

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.000

0.238

0.621

Cash generated from operations

N.A

N.A

N.A

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

17.82

12.30

9.08

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

100.00

100.00

17.14

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

27.50

21.09

13.74

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.44

0.38

0.28

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.31

0.49

0.71

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.14

1.77

1.41

 

 

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

28.472

28.472

28.472

Reserves & Surplus

331.395

452.269

645.948

 Share Application money pending allotment

0.010

0.010

0.005

Net worth

359.877

480.751

674.425

 

 

 

 

long-term borrowings

48.727

48.855

39.224

Short term borrowings

206.105

185.415

168.591

Current Maturities Of Long-Term Debts

0.621

0.238

0.000

Total borrowings

255.453

234.508

207.815

Debt/Equity ratio

0.710

0.488

0.308

 

 

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 (Gross)

741.500

982.374

1086.942

 

 

32.485

10.644

 

 

 

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 (Gross)

741.500

982.374

1086.942

Profit

67.354

120.874

193.680

 

9.08%

12.30%

17.82%

 

 

 

 

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

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

Yes

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

 

 

 

 

 

 

LISTING DETAILS

 

HIGH COURT OF GUJARAT

LETTERS PATENT APPEAL No. 618 of 2013

In SPECIAL CIVIL APPLICATION / 6164 / 2004 ( DISPOSED ) On : 31/01/2013

 

 

Status : PENDING

( Converted from : LPAST/493/2013 )

CCIN No : 001014201300618

 

 

Next Listing Date:

01/07/2015

Coram

·         HONOURABLE MR.JUSTICE

        M.R. SHAH      

·         HONOURABLE MR.JUSTICE

        G.R.UDHWANI

Not Before :

·         HONOURABLE MR.JUSTICE

        JAYANT PATEL

 

S.NO.

Name of the Petitioner

Advocate On Record

1
2
3

CHIEF ENGINEER UTTAR GUJARAT VIJ CO. LTD.
UTTAR GUJARAT VIJ CO. LTD. THROUGH DEPUTY ENGINEER
EXECUTIVE ENGINEER (O & M) UTTAR GUJARAT VIJ CO LTD

MS LILU K BHAYA for: Appellant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1 - 3

 

S.NO.

Name of the Respondant

Advocate On Record

1

GUJARAT MICROWAX LTD.

MR BHARAT T RAO for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

 

Presented On

: 15/03/2013

Registered On

: 26/04/2013

Bench Category

: DIVISION BENCH

District

: MAHESANA

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 22 times

StageName

: FOR FINAL HEARING

 

Classification

·         LPA - NON-SERVICE - ELECTRICITY ACT, 2003 - OTHER MISCELLANEOUS MATTERS

Act

·         LETTERS PATENT, 1865

 

 

Lower Court Details

 

S.No.

LowerCourt CaseDetail

LowerCourtName

JudgeName

Judgmentdate

1

SPECIAL CIVIL APPLICATION/6164/2004

GUJARAT HIGH COURT, AHMEDABAD

HONOURABLE MR.JUSTICE JAYANT PATEL-JUDGE,HIGH COURT OF GUAJRAT 
HONOURABLE MR.JUSTICE JAYANT PATEL-JUDGE,HIGH COURT OF GUAJRAT 
HONOURABLE MR.JUSTICE JAYANT PATEL-JUDGE,HIGH COURT OF GUAJRAT 
HONOURABLE MR.JUSTICE JAYANT PATEL-JUDGE,HIGH COURT OF GUAJRAT 
HONOURABLE MR.JUSTICE JAYANT PATEL-JUDGE,HIGH COURT OF GUAJRAT 
HONOURABLE MR.JUSTICE JAYANT PATEL-JUDGE,HIGH COURT OF GUAJRAT 
HONOURABLE MR.JUSTICE JAYANT PATEL-JUDGE,HIGH COURT OF GUAJRAT

31/01/2013

 

 

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

15/03/2013

MEMO OF PETITION/APPEAL/SUIT

MS LILU K BHAYA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

50

MS LILU K BHAYA:1-3

2

15/04/2013

VAKALATNAMA

MR BHARAT T RAO ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR BHARAT T RAO:1

3

26/04/2013

VAKALATNAMA

MR BHARAT T RAO ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR BHARAT T RAO:1

4

26/04/2013

VAKALATNAMA

MS LILU K BHAYA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MS LILU K BHAYA:1-3

 

 

 

 

UNSECURED LOAN

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and Advance from Related Parties

39.224

48.855

 

 

 

SHORT TERM BORROWING

 

 

Working capital loans from banks 

138.656

142.877

 

 

 

Total

177.880

191.732

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90110660

16/12/2003

30,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH; NEPTUNE TOWER, ASHRAM ROAD, AHEMADABAD, GUJARAT, INDIA

-

2

90107911

01/08/2006 *

12,450,000.00

STATE BANK OF INDIA

SPL.COMMERCIAL BRANCH,GANDHIGRAM, OPPOSITE GANDHIGRAM 
RLY.STATION, AHMEDABAD, Gujarat - 380009, INDIA

-

3

90113192

31/03/2011 *

285,300,000.00

STATE BANK OF INDIA

OVERSEAS BRANCH, 3rd FLOOR, AMRUT JAYANTI BHAVAN, NEAR NAVJIVAN P.O., AHMEDABAD, GUJARAT - 380014, INDIA

B10220812

4

90108927

31/03/2011 *

285,300,000.00

STATE BANK OF INDIA

OVERSEAS BRANCH, 3RD FLOOR, AMRUT JAYANTI BHAVAN, NEAR NAV JIVAN POST OFFICE, AHMEDABAD, GUJARAT - 
380014, INDIA

B10220366

 

 

FIXED ASSETS

·         Land

·         Factory Building

·         Bore well

·         Plant and Machinery

·         Spray dryer

·         Equipments

·         Vehicle

·         Tempo

·         Computer and Fax

·         Electric Installation

 

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 records 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.63.84

UK Pound

1

Rs.100.99

Euro

1

Rs.72.45

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUV

 

 

Analysis Done by :

RSH

 

 

Report Prepared by :

RKI

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--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

 

53

 

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.