MIRA INFORM REPORT
|
Report No. : |
311098 |
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Report Date : |
07.03.2015 |
IDENTIFICATION DETAILS
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Name : |
GUPTA COAL INDIA PRIVATE LIMITED (w.e.f. 10.04.2012) |
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Formerly Known
As : |
GUPTA COAL INDIA LIMITED |
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Registered
Office : |
Gupta Tower, 4th Floor, Temple Road, Opposite Science
Collage Ground, Civil Lines, Nagpur - 440001, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.05.1989 |
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Com. Reg. No.: |
11-051640 |
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Capital
Investment / Paid-up Capital : |
Rs. 324.781
Million |
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CIN No.: [Company Identification
No.] |
U51909MH1989PTC051640 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPG00507D |
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PAN No.: [Permanent Account No.] |
AAACG4587B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of coal trading. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (20) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. As per registrar of companies the date of balance sheet i.e.
financials filed is shown as 31st March, 2014 but the documents
related to the financials for the year 2014 is not available from any source. As per available financials of 2013, the company has very low profit
margin. Further, it has huge receivables and payables which is ever
increasing. However, business is active as per registrar of companies. Payment
terms are slow and delayed. The company can be considered for business dealings on 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long Term Rating = BB- (Suspended) |
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Rating Explanation |
Inadequate credit quality and high credit risk. |
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Date |
31.12.2013 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Rating = A4 (Suspended) |
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Rating Explanation |
Minimal degree of safety and very high credit risk. |
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Date |
31.12.2013 |
Reason for
Suspended: The Company has not furnished the information required by CARE.
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
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON - COOPERATIVE (91-712-6657400)
LOCATIONS
|
Registered Office : |
Gupta Tower, 4th Floor, Temple Road, Opposite Science
Collage Ground, Civil Lines, Nagpur - 440001, Maharashtra, India |
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Tel. No.: |
91-712-6664000 |
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Fax No.: |
91-712-6664089 / 6647144 |
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E-Mail : |
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Website : |
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Location: |
Owned |
DIRECTORS
As on: 29.12.2014
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Name : |
Mr. Padmesh Deodutta Gupta |
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Designation : |
Director |
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Address : |
Hari-Nikunj, House No. 190, Museum Road, Civil Lines, Nagpur – 440001, Maharashtra, India |
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Date of Birth/Age : |
29.02.1964 |
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Date of Appointment : |
05.05.1989 |
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DIN No.: |
00263859 |
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Other Directorship:
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Name : |
Mr. Piyush Marodia |
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Designation : |
Whole-time Director |
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Address : |
Hari-Nikunj, House No. 190, Museum Road, Civil Lines, Nagpur - 440001, Maharashtra, India |
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Date of Birth/Age : |
18.08.1984 |
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Date of Appointment : |
01.07.2012 |
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PAN No.: |
AMPPM8122L |
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DIN No.: |
01730162 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.12.2014
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Names of Shareholders |
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No. of Shares |
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Padmesh Gupta |
|
69267 |
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Anuradha Gupta |
|
53800 |
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Anurag Gupta |
|
7888 |
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Kaustubh Gupta |
|
7887 |
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Padmesh Gupta HUF |
|
16300 |
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Srivats Gupta |
|
410 |
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Gupta Leasing and Finance Limited, India |
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89750 |
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Indo-Krishna Green Fields Limited, India |
|
13950 |
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Tasmseen Commercial LLP, India |
|
34400 |
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Manasi Commodities LLP, India |
|
41000 |
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Gupta Corporation Private Limited, India |
|
2894660 |
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Saphire Steel private Limited, India |
|
3500 |
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Gupta Natural Resource Ventures Private Limited, India |
|
15000 |
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Total
|
|
3247812 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.12.2014
|
Category |
Percentage |
|
Bodies corporate |
95.21 |
|
Directors or relatives of Directors |
4.79 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of coal trading. |
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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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by management |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Financial Institution : |
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Auditors : |
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Name : |
Banthia Damani and Associates Chartered Accountants |
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Address : |
SO-8, Amarjyoti Palace, Dhantoli, Wardha Road, Nagpur - 440012,
Maharashtra, India |
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PAN No.: |
AAGFB7463E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company |
Gupta Corporation Private Limited |
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Associate : |
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Subsidiary Company : |
Transasia Pacific GGNR Pte Limited |
CAPITAL STRUCTURE
As on 29.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,000,000 |
Equity Shares |
Rs.100/- each |
Rs. 400.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,247,812 |
Equity Shares |
Rs.100/- each |
Rs. 324.781
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
324.781 |
305.044 |
297.928 |
|
(b) Reserves & Surplus |
4125.430 |
3750.906 |
3673.119 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
97.500 |
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Total
Shareholders’ Funds (1) + (2) |
4450.211 |
4055.950 |
4068.547 |
|
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2271.414 |
2465.747 |
245.689 |
|
(b) Deferred tax liabilities (Net) |
226.293 |
180.848 |
118.318 |
|
(c) Other long term
liabilities |
364.463 |
2812.528 |
385.979 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2862.170 |
5459.123 |
749.986 |
|
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(4)
Current Liabilities |
|
|
|
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(a) Short
term borrowings |
9994.608 |
15052.668 |
3124.925 |
|
(b) Trade
payables |
13981.077 |
6140.184 |
6367.627 |
|
(c) Other
current liabilities |
754.420 |
2848.394 |
859.017 |
|
(d) Short-term
provisions |
149.744 |
123.581 |
190.652 |
|
Total Current
Liabilities (4) |
24879.849 |
24164.827 |
10542.221 |
|
|
|
|
|
|
TOTAL |
32192.230 |
33679.900 |
15360.754 |
|
|
|
|
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|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
880.012 |
924.821 |
532.108 |
|
(ii)
Intangible Assets |
0.476 |
0.625 |
0.000 |
|
(iii) Capital
work-in-progress |
375.168 |
361.324 |
292.028 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
476.038 |
495.727 |
153.303 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1123.575 |
691.377 |
125.486 |
|
(e) Other
Non-current assets |
278.468 |
198.136 |
103.925 |
|
Total Non-Current
Assets |
3133.737 |
2672.010 |
1206.850 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3762.727 |
7954.061 |
3584.084 |
|
(c) Trade
receivables |
13156.833 |
12966.589 |
4690.534 |
|
(d) Cash
and cash equivalents |
1581.743 |
2535.166 |
1342.914 |
|
(e) Short-term
loans and advances |
10512.034 |
7492.108 |
4512.543 |
|
(f) Other
current assets |
45.156 |
59.966 |
23.829 |
|
Total
Current Assets |
29058.493 |
31007.890 |
14153.904 |
|
|
|
|
|
|
TOTAL |
32192.230 |
33679.900 |
15360.754 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
21870.651 |
|
|
|
Other Income |
|
|
71.497 |
|
|
|
TOTAL |
38897.254 |
36005.451 |
21942.148 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
|
|
18329.766 |
|
|
|
Manufacturing Service Cost |
|
|
2431.893 |
|
|
|
Employee Related Expenses |
|
|
50.391 |
|
|
|
Administrative Selling and Other Expenses |
|
|
281.180 |
|
|
|
TOTAL |
38717.312 |
35797.914 |
21093.230 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
Including
Financial and Depreciation Expenses |
Including Financial
and Depreciation Expenses |
848.918 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
295.729 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
553.189 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
23.823 |
|
|
|
|
|
|
|
|
|
|
Prior Period Expenses |
(28.013) |
108.120 |
4.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
207.955 |
99.417 |
524.993 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
78.607 |
94.700 |
208.386 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
129.348 |
4.717 |
316.607 |
|
|
|
|
|
|
|
|
|
Less |
INCOME
TAX EARLIER YEAR |
NA |
NA |
19.651 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
296.956 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
NA |
12249.859 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
39.83 |
1.55 |
453.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA
|
NA |
1.45 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA
|
NA |
3.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.66 |
0.30 |
3.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.02 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.76 |
4.32 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.28 |
1.34 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
297.928 |
305.044 |
324.781 |
|
Reserves & Surplus |
3673.119 |
3750.906 |
4125.430 |
|
Share Application money pending
allotment |
97.500 |
0.000 |
0.000 |
|
Net worth |
4068.547 |
4055.950 |
4450.211 |
|
|
|
|
|
|
long-term borrowings |
245.689 |
2465.747 |
2271.414 |
|
Short term borrowings |
3124.925 |
15052.668 |
9994.608 |
|
Total borrowings |
3370.614 |
17518.415 |
12266.022 |
|
Debt/Equity ratio |
0.828 |
4.319 |
2.756 |
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
21942.148 |
36005.451 |
38897.254 |
|
|
|
64.093 |
8.032 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
21942.148 |
36005.451 |
38897.254 |
|
Profit |
316.607 |
4.717 |
129.348 |
|
|
1.44% |
0.01% |
0.33% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
FINANCIAL RESULTS:
The Company has earned a net profit of Rs. 129.300 million approx. as compared with Rs. 4.717 Million in the previous year. Although the company has shown an increase in the net profits during the year, certain policy decisions from the government agencies/ authorities has led to the overall slowdown of coal industry which ultimately impacted the principle business of coal trading of the Company. On account of the liquidity crisis and the high cost debts availed, the Company is exploring the possibilities of restructuring within the framework prevailing in the country to meet the obligations.
REVIEW OF OPERATIONS:
The global economic slowdown along with the policy paralysis in the country has posed a grave challenge for the Company to sustain itself in such turbulent times. The setbacks in the coal industry in the country has taken a toll on the previously booming trade.
It is notable that despite the unfavorable circumstances, the Company continued to meet its obligations towards its Lenders by way of payment of interest and installments in a regular manner. In order to curtail the situation of financial stress, the Company has taken the following significant decisions:
UNSECURED LOAN
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
147.900 |
197.900 |
|
Loans and advances from related parties |
2.625 |
37.903 |
|
Total |
150.525 |
235.803 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10550954 |
03/01/2015 |
250,000,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA- 700046, WEST BENGAL, INDIA |
C44516912 |
|
2 |
10357303 |
19/05/2012 |
690,000,000.00 |
VIJAYA BANK |
C.A. ROAD, NAGPUR- 440011, MAHARASHTRA, INDIA |
B40198640 |
|
3 |
10357958 |
15/04/2012 |
500,000,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
VISHWAKARMA,86C,TOPSIA ROAD (SOUTH), KOLKATA - 700046, WEST BENGAL, INDIA |
B40533796 |
|
4 |
10357956 |
15/04/2012 |
800,000,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
VISHWAKARMA, 86C,TOPSIA ROAD (SOUTH), KOLKATA- 700046, WEST BENGAL, INDIA |
B40533317 |
|
5 |
10352332 |
03/10/2012 * |
900,000,000.00 |
IDBI BANK LIMITED |
3RD FLOOR, GUPTA TOWER, TEMPLE ROAD, CIVIL LINES, NAGPUR- 440001, MAHARASHTRA, INDIA |
B60399672 |
|
6 |
10345278 |
06/03/2012 |
1,085,000,000.00 |
PUNJAB NATIONAL BANK |
MID CORPORATE BRANCH, SURYANAGAR, NAGPUR- 440008, MAHARASHTRA, INDIA |
B36177996 |
|
7 |
10345186 |
25/02/2012 |
2,350,000,000.00 |
ALLAHABAD BANK |
CIVIL LINES BRANCH, CIVIL LINES, NAGPUR- 440001, MAHARASHTRA, INDIA |
B36139988 |
|
8 |
10330298 |
20/12/2011 |
2,050,000,000.00 |
UNION BANK OF INDIA |
CIVIL LINES BRANCH, NAGPUR- 440001, MAHARASHTRA, INDIA |
B30064901 |
|
9 |
10309486 |
01/10/2011 |
1,250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, VADODARA -390015, GUJARAT , INDIA |
B22250443 |
|
10 |
10303482 |
15/07/2011 |
81,163,800.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA- 700046, WEST BENGAL, INDIA |
B19288455 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Office building
- Other building
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Computer software
WEBSITE DETAILS:
PRESS RELEASE/ NEWS:
AUDITORS’ QUERY FORCES BOI TO
DECLARE GUPTA COAL LOANS AS NPA
October 03, 2014: Nagpur: The city-based Gupta Group is turning out to be another vexed loan case for the banks. While lenders are yet to finalize a corporate debt restructuring (CDR) proposal for two group companies, Gupta Coal India Limited (GCIL), which has the biggest loan of over Rs. 2,0000.000 million, has been declared a non-performing asset (NPA) by Bank of India (BOI) for its share of the debt.
BOI is the leader of a consortium of over half a dozen lending agencies with
exposure in GCIL. However, the account was only classified as NPA after BOI
auditors raised an objection. BOI's individual loan to GCIL stands at over Rs.
5500.000 million.
GCIL is a coal trading company also engaged in imports. Most of the other
consortium banks continue to keep it as a standard asset, saying that the
payment has been regular. Sources in BOI say it was in June that the account
was finally classified as NPA. Though the bank tried its best to treat it as a
standard asset, the auditors did not agree.
Now, with the auditors having raised objections, there is little chance of considering a CDR proposal for this company, which was in the offing to tide over this financial crisis faced by the Gupta Group.
The Gupta group is headed by Padmesh Gupta, a prominent businessman from the
city. TOI had sent him a text message seeking his comments, but it remained
unanswered.
A large part of the GCIL loan is a cash credit limit, apart from letters of
credit (L/C) and bank guarantee. The latter make up non-fund-based loans, which
are to the tune of Rs, 4900.000 Million, say sources. It has been learnt that
the auditors had questioned the method on the basis of which the limits were
sanctioned. Insiders say the company's credit limit should not have gone beyond
Rs. 2200.000 Million but the total outstanding ended up crossing over Rs.
5500.000 Million.
One of the main features of the loan package was that the non-fund-based loans
were convertible into fund-based. With a letter of credit, the company can
purchase goods from the vendor with the bank directly paying the vendor.
However, the bank's dues have to be cleared within 90 days. If there is a
provision to change non-fund-based loans like L/C to fund-based, on non-payment
after 90 days, the cash credit limit can be extended proportionately. After
this, funds are drawn from the limit to pay back the dues on L/C.
So, it becomes a part of the larger loan, which does not become NPA so long as
the interest is served.
This facility is generally provided when the borrower has a longer realization
cycle. But it can also be a convenient method to avoid an account from becoming
NPA. If the defaulted amount on L/C becomes part of the larger loan, only
interest has to be paid to keep the account as standard, said a chartered
accountant engaged in project finance.
A senior officer in BOI who is monitoring the case admitted that the account
was classified as NPA following the audit objection. There was an issue related
to the limits that were calculated. "The bank has gone by the laid down
norms, though it was not correct as per the auditors," the officer said,
not wishing to be named. However, another top official in this bank said there
are certain instances of diversion of funds too.
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 records 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.61.20 |
|
|
1 |
Rs.94.71 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
20 |
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.