MIRA INFORM REPORT
|
Report No. : |
313614 |
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Report Date : |
20.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
INFINITAS ENERGY SOLUTIONS PRIVATE LIMITED (w.e.f. 12.02.2014) |
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Formerly Known
As : |
TRISHE DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
Second Floor, Khivraj Complex- 1, No.480, Anna Salai, Chennai –
600035, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
12.11.2010 |
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Com. Reg. No.: |
18-078050 |
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Capital
Investment / Paid-up Capital : |
Rs.377.139 Million |
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CIN No.: [Company Identification
No.] |
U45400TN2010PTC078050 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHET12002E |
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PAN No.: [Permanent Account No.] |
AADCT6388C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Infrastructure Development for Renewable Energy |
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No. of Employees
: |
Not Available |
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 |
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Maximum Credit Limit : |
USD 4100000 |
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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. Management of the company has not filed its financial with the
government department for the year 2014. As per available financial of 2013, general financial position of the
company seems to be sound. Trade relations are reported as fair. Business is active. Payment
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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
31-03-2014.
LOCATIONS
|
Registered Office : |
Second Floor, Khivraj Complex- 1, No.480, Anna Salai, Chennai –
600035, Tamilnadu, India |
|
Tel. No.: |
91-44-39180800 / 26450060 |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 29.11.2013
|
Name : |
Mr. Narasimhan Venkataraman Ramkhumar |
|
Designation : |
Managing Director |
|
Address : |
Flat H Sunflower Apartments, No.85, |
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Date of Birth/Age : |
11.12.1965 |
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Date of Appointment : |
12.11.2010 |
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DIN No.: |
02226744 |
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|
|
|
Name : |
Mr. Bala Chaitanya Deshpande |
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Designation : |
Director |
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Address : |
501, Kukreja Heights, Nargis Dutt Road,, Pali Hill, Bandra (West),
Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1966 |
|
Date of Appointment : |
11.08.2012 |
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DIN No.: |
00020130 |
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|
|
|
Name : |
Mr. Tarun Sharma |
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Designation : |
Director |
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Address : |
179, Sidhartha Enclave, New Delhi - 110014, India |
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Date of Birth/Age : |
10.05.1978 |
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Date of Appointment : |
11.08.2012 |
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DIN No.: |
03095034 |
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|
|
|
Name : |
Mr. Poorani Nagarajan |
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Designation : |
Director |
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Address : |
Old No.23, New No.64, 4B, Viswamoda, Bakthavatchalam Road (Warren Road),
Mylapore, Chennai - 600004, Tamil Nadu, India |
|
Date of Birth/Age : |
06.01.1972 |
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Date of Appointment : |
20.02.2013 |
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DIN No.: |
03454383 |
MAJOR SHAREHOLDERS
AS ON 29.11.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Narasimhan Venkataraman Ramkhumar |
|
5000 |
|
Ramakrishnan R Srinivasan |
|
5000 |
|
Vrone Energy Private Limited |
|
509178 |
|
Siddhamalli Investment Consultants |
|
4902250 |
|
Trishe Employee Welfare Trust |
|
3845783 |
|
NEA FVCI, Limited |
|
2178672 |
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Mark Green Developers Private Limited |
|
554217 |
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|
|
|
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Total |
|
12000100 |
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Names of Preference Shareholders |
|
No. of Shares |
|
NEA FVCI, Limited |
|
5142757 |
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|
|
|
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Total |
|
5142757 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.11.2013
|
Category |
Percentage |
|
Bodies corporate |
99.92 |
|
Directors or relatives of Directors |
0.04 |
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Others |
0.04 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Infrastructure Development for Renewable Energy |
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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 : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
Axis Bank ·
Punjab National Bank, Door No. 781-785, Anna
Salai, Rayala Towers - 3rd Floor, Chennai – 600002, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sundar and Company Chartered Accountants |
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Address : |
Rainbow Arcade No.22, 23 & 23-L, First Floor, Sir Thyagaraya Road, Pondy Bazaar, T. Nagar, Chennai – 600017, Tamilnadu, India |
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PAN No.: |
AAAFS2575C |
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Membership : |
-- |
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Subsidiaries : |
· Sri Ganesh Wind Power Engineers Private Limited |
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Associates : |
· National Wind Energy · VROne Energy Private Limited · Varam Media Private Limited · Varam Media Global Inc |
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Companies over which key management
personnel exercises Significant Influence : |
· Trishe Energy Inc US · Trishe Energy Global BV Netherlands · Trishe Resources Inc · Trishe Employee Welfare Trust · Trishe Wind Energy Holding INC · Trishe Green Solutions Private Limited · Trishe Energy Infrastructure Services Private Limited · Trishe Renewable Energy Private Limited · Trishe Energy Private Limited |
CAPITAL STRUCTURE
AS ON 29.11.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
|
17000000 |
Preference Shares |
Rs.50/- each |
Rs.850.000 Million |
|
|
|
|
|
|
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Total |
|
Rs.1000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000100 |
Equity Shares |
Rs.10/- each |
Rs.120.001 Million |
|
5142757 |
Preference Shares |
Rs.50/- each |
Rs.257.138 Million |
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|
|
|
|
|
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Total |
|
Rs.377.139
Million |
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 |
|
|
|
|
(a) Share Capital |
377.139 |
20.000 |
0.100 |
|
(b) Reserves & Surplus |
1043.062 |
248.884 |
0.743 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
100.000 |
10.900 |
|
Total
Shareholders’ Funds (1) + (2) |
1420.201 |
368.884 |
11.743 |
|
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
47.187 |
1.603 |
1.600 |
|
(b) Deferred tax liabilities (Net) |
0.136 |
0.177 |
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) |
47.323 |
1.780 |
1.600 |
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|
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(4) Current
Liabilities |
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|
|
|
(a) Short
term borrowings |
90.925 |
10.074 |
18.900 |
|
(b) Trade
payables |
1900.003 |
535.612 |
25.074 |
|
(c) Other
current liabilities |
247.927 |
235.431 |
0.171 |
|
(d) Short-term
provisions |
160.148 |
104.540 |
0.332 |
|
Total Current
Liabilities (4) |
2399.003 |
885.657 |
44.477 |
|
|
|
|
|
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TOTAL |
3866.527 |
1256.321 |
57.820 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
34.652 |
26.288 |
9.496 |
|
(ii)
Intangible Assets |
1.327 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.559 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
150.815 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
53.662 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
241.015 |
26.288 |
9.496 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
466.819 |
57.400 |
0.000 |
|
(c) Trade
receivables |
1966.004 |
720.892 |
0.955 |
|
(d) Cash
and cash equivalents |
166.204 |
154.246 |
2.399 |
|
(e) Short-term
loans and advances |
492.119 |
297.495 |
44.970 |
|
(f) Other
current assets |
534.366 |
0.000 |
0.000 |
|
Total
Current Assets |
3625.512 |
1230.033 |
48.324 |
|
|
|
|
|
|
TOTAL |
3866.527 |
1256.321 |
57.820 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
1606.980 |
1278.571 |
19.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
1185.159 |
917.792 |
18.625 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
421.821 |
360.779 |
1.075 |
|
|
|
|
|
|
|
Less |
TAX |
167.638 |
112.638 |
0.332 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
254.183 |
248.141 |
0.743 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.83 |
124.07 |
74.30 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets) |
(%) |
11.35 |
28.72 |
1.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.98 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.03 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.39 |
1.09 |
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 |
0.100 |
20.000 |
377.139 |
|
Reserves & Surplus |
0.743 |
248.884 |
1043.062 |
|
Share Application money pending
allotment |
10.900 |
100.000 |
0.000 |
|
Net
worth |
11.743 |
368.884 |
1420.201 |
|
|
|
|
|
|
long-term borrowings |
1.600 |
1.603 |
47.187 |
|
Short term borrowings |
18.900 |
10.074 |
90.925 |
|
Total
borrowings |
20.500 |
11.677 |
138.112 |
|
Debt/Equity
ratio |
1.746 |
0.032 |
0.097 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
19.700 |
1278.571 |
1606.980 |
|
|
|
6,390.208 |
25.686 |
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 |
19.700 |
1278.571 |
1606.980 |
|
Profit |
0.743 |
248.141 |
254.183 |
|
|
3.77% |
19.41% |
15.82% |
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 |
No |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10466461 |
27/11/2013 |
47,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B92068774 |
|
2 |
10439885 |
20/09/2013 * |
400,000,000.00 |
INDIAN BANK |
131, SIDCO BUILDING, GST ROAD, GUINDY, CHENNAI, TAMIL NADU - 600032, INDIA |
B88400130 |
|
3 |
10437055 |
26/04/2014 * |
1,350,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, 781-785, RAYALA TOWERS, III FLOOR,ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
C05415500 |
|
4 |
10425475 |
17/04/2013 * |
200,000,000.00 |
CANARA BANK |
THOUSAND LIGHTS BRANCH, GREAMS ROAD, CHENNAI, TAMIL NADU - 600006, INDIA |
B75125807 |
|
5 |
10407097 |
01/02/2013 |
350,000,000.00 |
VIJAYA BANK |
CORPORATE
BANKING BRANCH, 123, DUGAR TOWERS, MARS |
B69221885 |
|
6 |
10379151 |
24/09/2012 |
28,600,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B59148817 |
|
7 |
10359208 |
15/11/2012 * |
250,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B62285440 |
|
8 |
10352431 |
18/04/2012 |
100,000,000.00 |
INDIA FACTORING AND FINANCE SOLUTIONS PRIVATE LIMITED |
6TH FLOOR, VAIBHAV CHAMBERS, OPPOSITE INCOME TAX, BANDRA- KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B38479036 |
|
9 |
10342548 |
27/03/2012 * |
300,000,000.00 |
PUNJAB NATIONAL BANK |
DOOR NO. 781-785, ANNA SALAI,, RAYALA TOWERS - 3R D FLOOR,, CHENNAI, TAMIL NADU - 600002, INDIA |
|
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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.62.67 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.66.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.