MIRA INFORM REPORT
|
Report No. : |
320556 |
|
Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
MOBILE COMMERCE SOLUTIONS LIMITED [w.e.f.20.03.2010] |
|
|
|
|
Formerly Known
As : |
MOBILE COMMERCE SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Vodafone India, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower
Parel, Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-71715000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.06.2008 |
|
|
|
|
Com. Reg. No.: |
11-183456 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2552.632 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2008PLC183456 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCM3037Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the business of trading of handsets, data cards and related
accessories, distribution of high speed internet services and facilitating
mobile banking services in partnership with a bank in accordance with license
received from RBI. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
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|
Comments : |
Subject is an established company having moderate track record. The company has incurred a huge loss from its operation during 2014. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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
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.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-22-71715000]
LOCATIONS
|
Registered Office : |
Vodafone India, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower
Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-71715000/ 71715001 |
|
Fax No.: |
91-22-24963645 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 12.09.2014
|
Name : |
Mr. Suresh Kumar Sethi |
|
Designation : |
Managing director |
|
Address : |
C-901, Lodha Bellissimo, Apollo Mills Compound, N. M. Joshi Marg, Mahalaxmi, Mumbai - 400011, Maharashtra, India |
|
Date of Birth/Age : |
30.03.1965 |
|
Qualification : |
Alumnus of FMS, Delhi University, B.E. (Electronics), Punjab University |
|
Experience : |
25 Years |
|
Date of Appointment : |
20.11.2012 |
|
PAN No.: |
AXZPS6778D |
|
DIN No.: |
06426040 |
|
|
|
|
Name : |
Mr. Vivek Mathur |
|
Designation : |
Director |
|
Address : |
Flat No. 202, Clayton Apartments, Sherly Rajan Road, Bandra, Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1964 |
|
Qualification : |
B Tech and Graduation - Management (IIM Calcutta) |
|
Date of Appointment : |
30.10.2012 |
|
DIN No.: |
02673593 |
|
|
|
|
Name : |
Mr. Nitin Chopra |
|
Designation : |
Director |
|
Address : |
A-401, Quantum Park, Union Park, Khar [West], Mumbai - 400052, Maharashtra, India |
|
Date of Appointment : |
20.03.2015 |
|
DIN No.: |
00213333 |
|
|
|
|
Name : |
Tripti Pande Desai |
|
Designation : |
Director |
|
Address : |
63, G Block 3, Charmswood Village FBD, Faridabad - 121009, Haryana, India |
|
Date of Appointment : |
20.03.2015 |
|
DIN No.: |
07129494 |
KEY EXECUTIVES
|
Name : |
Mr. Aditya Sadaphule |
|
Designation : |
Secretary |
|
Address : |
Plot No. 297, Sector 27, Pradhikaran, Nigdi, Pune – 411044,
Maharashtra, India |
|
Date of Birth/Age : |
03.10.1986 |
|
Date of Appointment : |
12.04.2013 |
|
PAN No.: |
BCEPS5381K |
|
|
|
|
Name : |
Mr.
Santosh Abbimane |
|
Designation : |
Associate
Vice President - Finance |
|
Date of Birth/Age : |
45
Years |
|
Qualification : |
S.S.C.,
H.S.C., B. E. and M.M.S. |
|
Experience : |
18
Years |
|
|
|
|
Name : |
Mr.
Amit Thacker |
|
Designation : |
General
Manager – Customer Service |
|
Date of Birth/Age : |
41
Years |
|
Qualification : |
S.S.C.,
H.S.C., B. Com. And Post Graduate Diploma |
|
Experience : |
18
Years |
|
|
|
|
Name : |
Nirmalendu
Kar |
|
Designation : |
Vice
President – Distribution and Market Development, MCSL |
|
Date of Birth/Age : |
51
Years |
|
Qualification : |
B.
E. and M.B.A. (Full time) |
|
Experience : |
29
Years |
|
|
|
|
Name : |
Mr.
Sandeep Abraham |
|
Designation : |
VP
- Dist and Market Development (M-Pesa) |
|
Date of Birth/Age : |
45
Years |
|
Qualification : |
B.
E. and Post Graduate Diploma |
|
Experience : |
24
Years |
|
|
|
|
Name : |
Mr.
Krishna Kumar Balasubramanian |
|
Designation : |
General
Manager - Marketing |
|
Date of Birth/Age : |
40
Years |
|
Qualification : |
Pre
Degree, H.S.C., B. Com and Post Graduate Diploma |
|
Experience : |
10
Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 12.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Vodafone India Limited, India |
|
149,999,994 |
|
Vodafone
Mobile Services Limited, India jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone
East Limited, India jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone
West Limited, India jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone
Cellular Limited, India jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone
Digilink Limited, India jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone
South Limited, India jointly with Vodafone India Limited, India |
|
1 |
|
Vodafone West Limited, India |
|
105,263,158 |
|
|
|
|
|
Total |
|
255,263,158 |
AS ON 12.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of trading of handsets, data cards and related accessories,
distribution of high speed internet services and facilitating mobile banking
services in partnership with a bank in accordance with license received from
RBI. |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
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 : |
· ICICI Bank Limited |
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Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
"Heritage", 3rd Floor, Near Gujarat,
Vidhyapith, Off Ashram Road, Ahmedabad – 380014, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD7919A |
|
|
|
|
Cost Accountants |
|
|
Name : |
A. Gupta and Associates Cost Accountants |
|
Address : |
New Delhi, India |
|
|
|
|
Holding company : |
Vodafone India Limited
[U32200MH1992PLC119108] |
|
|
|
|
Ultimate Holding Company ; |
Vodafone Group Plc. |
|
|
|
|
Intermediate Holding Company : |
Vodafone International
Holdings B.V. |
|
|
|
|
Subsidiary company : |
Connect (India) Mobile
Technologies Private Limited [U32202MH1999PTC120818] |
|
|
|
|
Fellow Subsidiary company : |
·
Vodafone South Limited
[U74899DL1995PLC074451] ·
Vodafone Digilink Limited
[U64201DL1997PLC088088] ·
Vodafone Cellular Limited
[U64202TZ1995PLC007674] ·
Vodafone Shared Services Limited
[U74900GJ2009PLC058189] ·
Vodafone Group Services Limited ·
Vodafone Mobile Services Limited
[U64202DL1992PLC088087] ·
Vodafone East Limited
[U32204WB1992PLC079998] ·
Vodafone West Limited
[U32100GJ1995PLC035282] ·
Vodafone Sales and Services Limited · Vodafone Spacetel Limited |
CAPITAL STRUCTURE
AFTER 12.09.2014
Authorised Capital : Rs.
5000.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 4052.632
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
255,263,158 |
Equity Shares |
Rs. 10/- each |
Rs. 2552.632 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 |
2552.632 |
1900.000 |
1250.000 |
|
(b) Reserves & Surplus |
(726.461) |
(799.869) |
(942.693) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
250.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1826.171 |
1100.131 |
557.307 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.254 |
0.000 |
0.000 |
|
(d)
long-term provisions |
32.008 |
16.149 |
14.898 |
|
Total
Non-current Liabilities (3) |
32.262 |
16.149 |
14.898 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
497.500 |
0.000 |
0.000 |
|
(b)
Trade payables |
668.771 |
473.249 |
128.062 |
|
(c)
Other current liabilities |
371.475 |
140.116 |
41.643 |
|
(d)
Short-term provisions |
5.007 |
3.631 |
1.380 |
|
Total
Current Liabilities (4) |
1542.753 |
616.996 |
171.085 |
|
|
|
|
|
|
TOTAL |
3401.186 |
1733.276 |
743.290 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
36.177 |
33.716 |
50.155 |
|
(ii)
Intangible Assets |
46.315 |
98.639 |
78.714 |
|
(iii)
Capital work-in-progress |
211.256 |
72.567 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
3.098 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.100 |
0.100 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
22.192 |
12.009 |
94.059 |
|
(e)
Other Non-current assets |
0.607 |
0.500 |
0.000 |
|
Total
Non-Current Assets |
316.547 |
220.629 |
223.028 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
25.450 |
77.134 |
0.000 |
|
(c)
Trade receivables |
359.761 |
205.051 |
25.492 |
|
(d)
Cash and cash equivalents |
2635.339 |
1178.288 |
479.435 |
|
(e)
Short-term loans and advances |
54.962 |
48.852 |
3.632 |
|
(f)
Other current assets |
9.127 |
3.322 |
11.703 |
|
Total
Current Assets |
3084.639 |
1512.647 |
520.262 |
|
|
|
|
|
|
TOTAL |
3401.186 |
1733.276 |
743.290 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1295.674 |
1070.071 |
31.885 |
|
|
|
Other Income |
52.992 |
0.186 |
0.000 |
|
|
|
TOTAL |
1348.666 |
1070.257 |
31.885 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
804.960 |
943.028 |
0.000 |
|
|
|
Employees benefits expense |
310.358 |
152.690 |
85.728 |
|
|
|
Other expenses |
1158.849 |
449.763 |
856.582 |
|
|
|
TOTAL |
2274.167 |
1545.481 |
942.310 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(925.501) |
(475.224) |
(910.425) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.499 |
0.454 |
6.317 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(938.000) |
(475.678) |
(916.742) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
129.392 |
59.748 |
23.436 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
0.000 |
1.750 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(1067.392) |
(537.176) |
(940.178) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1067.392) |
(537.176) |
(940.178) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(5.52) |
(3.59) |
(300.98) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(82.38) |
(50.20) |
(2948.65) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(71.43) |
(44.41) |
(2855.34) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(33.46) |
(32.41) |
(126.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.58) |
(0.49) |
(1.69) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.00 |
2.45 |
3.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1250.000 |
1900.000 |
2552.632 |
|
Reserves & Surplus |
(942.693) |
(799.869) |
(726.461) |
|
Share Application money pending allotment |
250.000 |
0.000 |
0.000 |
|
Net
worth |
557.307 |
1100.131 |
1826.171 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
497.500 |
|
Total
borrowings |
0.000 |
0.000 |
497.500 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.272 |
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 |
31.885 |
1070.071 |
1295.674 |
|
|
|
3,256.033 |
21.083 |
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 |
31.885 |
1070.071 |
1295.674 |
|
Profit/ (Loss) |
(940.178) |
(537.176) |
(1067.392) |
|
|
(2948.65%) |
(50.20%) |
(82.38%) |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10520172 |
10/09/2014 |
312,594,312.56 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C20826848 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
497.500 |
0.000 |
|
|
|
|
|
Total |
497.500 |
0.000 |
BACKGROUND
The
Company is engaged in the business of trading of handsets, data cards and
related accessories, distribution of high speed internet services and
facilitating mobile banking services in partnership with a bank in accordance
with license received from RBI.
FINANCIAL PERFORMANCE
The
Company is engaged in the business of distribution of high speed internet services,
trading in handsets, data cards and related accessories and m-pesa i.e.
facilitating mobile banking services in partnership with a bank in accordance
with license received from RBI. During the year, the company has incurred a
loss after tax of Rs1067.392 Million (previous year Rs.537.176 Million).
YEAR UNDER REVIEW: OPERATIONS
Distribution of High Speed Internet Services:
The
Company continued business of distribution of High Speed Internet Services
under a renewed arrangement with Sistema Shyam Tele Services Limited (SSTL).
Terminals Business:
During
the year, the Company was able to achieve revenue of Rs.900.000 Million from
its trading business of handsets, data cards and related accessories. The
Company foresees a good growth potential in this segment.
M-pesa Business:
During
FY' 2013-14, M-Pesa launched additional 16 circles and had 50,000 agents and1
Million Customers as on 31st March'14. Company had PAN India presence by
April'14.
The
Management is of the view that the proposed business of the company has very
good potential and is aligned to the government objectives of the financial
inclusion of the masses.
OUTLOOK FOR 2014-2015
Distribution of High Speed Internet Services:
Post
relaunch during the year, management foresee a scale up in distribution of high
speed internet services in the coming year with introduction of higher speed
dongles.
Terminals Business:
During
the coming year, the company shall continue focus to scale up sales of devices,
with enterprise segment expected to contribute increasing share in overall
business.
M-pesa Business:
M-pesa
business has now achieved a PAN India footprint, making it the largest Business
Correspondent network in the country. This uniquely positions M-pesa to provide
last mile connectivity across migrant corridors for enabling Money Transfer.
Business is also focused on creating a strong eco-system of acceptance towards
enabling digital payments and a "less cash" economy
FIXED ASSETS:
·
Office equipment
·
Computer equipments
·
Other equipments
·
Computer software
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. 63.58 |
|
|
1 |
Rs. 97.99 |
|
Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.