MIRA INFORM REPORT
|
Report No. : |
321691 |
|
Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
J. S. AUTO PRIVATE LIMITED (w.e.f. 01.03.2006) |
|
|
|
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|
|
Formerly Known
As : |
J. S. AUTO PARTS PRIVATE LIMITED |
|
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Registered
Office : |
C-7, Panki Site – III, Upsidc Industrial Area, Kanpur – 208022, Uttar
Pradesh |
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Tel. No.: |
91-512-3293580 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.09.1986 |
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Com. Reg. No.: |
20-008173 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.622 Million |
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|
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CIN No.: [Company Identification
No.] |
U34102UP1986PTC008173 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACJ3418Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of JSA three wheelers, Passenger Carrier, Load Carrier, Three Wheelers, Auto
rickshaw, Petrol Three Wheeler, Cngvariant Three Wheelers, Petrol Variant
Three Wheelers etc. |
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|
|
|
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No. of Employees
: |
200 (Approximately) |
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 291000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is manufactures three-wheelers, both passenger and goods carries.
It started as a job worker for various automobile makers, and began
manufacturing its own three-wheelers in 2004. The vehicles are sold under the
JSA brand. It is an established company having satisfactory track record. The rating takes into consideration established track record of
business operations backed by extensive industry experience of promoters in
auto industry. Rating also takes into consideration sound operational risk profile
marked by above average liquidity position and moderate debt protection
metrics of the company. Rating strengths are partially offset by company’s small scale of
business operations in the three-wheelers industry and risk associated with
instantly competitive automobile industry. Trade relations are reported as fair. Payments are reported to be
usually correct. In view of aforesaid, the company can be considered for business
dealings at usual terms and condition. |
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB |
|
Rating Explanation |
Inadequate credit quality and high credit
risk |
|
Date |
20.01.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
20.01.2015 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Akash |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-512-3293580 |
|
Date : |
09.05.2015 |
LOCATIONS
|
Registered Office : |
C-7, Panki Site – III, Upsidc Industrial Area, Kanpur – 208022, Uttar
Pradesh, India |
|
Tel. No.: |
91-512-3293580 |
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Fax No.: |
91-512-2691326 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
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|
|
|
Factory : |
Located at: Uttar Pradesh |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Joginder Pal Puri |
|
Designation : |
Director |
|
Address : |
F – 64, Govind Nagar, Kanpur – 208006, Uttar Pradesh, India |
|
Date of Birth/Age : |
30.12.1926 |
|
Date of Appointment : |
15.09.1986 |
|
PAN No.: |
AAEHJ4057N |
|
DIN No.: |
00054496 |
|
|
|
|
Name : |
Mr. Naresh Kumar Puri |
|
Designation : |
Director |
|
Address : |
F – 64, Govind Nagar, Kanpur – 208006, Uttar Pradesh, India |
|
Date of Birth/Age : |
10.10.1956 |
|
Date of Appointment : |
15.09.1986 |
|
PAN No.: |
AAUPP8683Q |
|
DIN No.: |
00054613 |
|
|
|
|
Name : |
Mr. Suresh Kumar Puri |
|
Designation : |
Director |
|
Address : |
F – 64, Govind Nagar, Kanpur – 208006, Uttar Pradesh, India |
|
Date of Birth/Age : |
10.08.1958 |
|
Date of Appointment : |
15.09.1986 |
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PAN No.: |
AAQHSS0028G |
|
DIN No.: |
00062124 |
|
|
|
|
Name : |
Mr. Sushil Kumar Puri |
|
Designation : |
Director |
|
Address : |
F – 64, Govind Nagar, Kanpur – 208006, Uttar Pradesh, India |
|
Date of Birth/Age : |
31.01.1952 |
|
Date of Appointment : |
29.03.2002 |
|
PAN No.: |
AAQHS0029H |
|
DIN No.: |
02825502 |
KEY EXECUTIVES
|
Name : |
Mr. Akash |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Naresh Kumar Puri |
40000 |
|
Sresh Kumar Puri |
40000 |
|
Sushil Kumar Puri |
15450 |
|
Sandeep Puri |
40105 |
|
Suresh Kumar Puri HUF |
15450 |
|
Naresh Kumar Puri HUF |
15450 |
|
Master Shubhneek Puri |
40105 |
|
Master Samdarsh Puri |
40105 |
|
Praveen Puri HUF |
15450 |
|
Sushil Kumar Puri |
40000 |
|
Shashi Rani |
40000 |
|
Praveen Puri |
20000 |
|
Seema Puri |
20000 |
|
Chetna Puri |
20000 |
|
Samdeesh Puri |
20105 |
|
Harsh Lata Puri |
40000 |
|
Total |
462220 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of JSA three wheelers, Passenger Carrier, Load Carrier, Three Wheelers, Auto
rickshaw, Petrol Three Wheeler, Cngvariant Three Wheelers, Petrol Variant
Three Wheelers etc. |
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|
|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Auto Parts |
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Countries : |
· Bangladesh · Sri Lanka · African Countries |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Rajiv Mehrotra and Associates Chartered Accountants |
|
Address : |
3 / 3 A Vishnupuri, Kanpur – 208002, Uttar Pradesh,
India |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFR0926B |
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Enterprises
which are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Jessons Machine Tools Private Limited CIN No.: U28112UP1990PTC012214 · Expert Metalica ·
Kamal Industries |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
462,220 |
Equity Shares |
Rs. 10/- each |
Rs. 4.622 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 |
4.622 |
4.122 |
4.122 |
|
(b) Reserves & Surplus |
97.179 |
78.007 |
73.080 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
101.801 |
82.129 |
77.202 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
98.152 |
110.445 |
89.164 |
|
(b) Deferred tax liabilities (Net) |
8.348 |
7.212 |
7.691 |
|
(c)
Other long term liabilities |
13.717 |
11.816 |
9.626 |
|
(d)
long-term provisions |
2.986 |
2.582 |
|
|
Total
Non-current Liabilities (3) |
123.203 |
132.055 |
106.481 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
166.827 |
154.983 |
138.866 |
|
(b)
Trade payables |
76.893 |
84.196 |
73.208 |
|
(c)
Other current liabilities |
39.448 |
40.004 |
40.674 |
|
(d)
Short-term provisions |
8.104 |
4.691 |
7.775 |
|
Total
Current Liabilities (4) |
291.272 |
283.874 |
260.523 |
|
|
|
|
|
|
TOTAL |
516.276 |
498.058 |
444.206 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
268.121 |
255.672 |
149.336 |
|
(ii)
Intangible Assets |
1.788 |
2.134 |
1.851 |
|
(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 |
2.350 |
1.400 |
1.400 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
4.144 |
3.034 |
14.108 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
276.403 |
262.240 |
166.695 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
2.550 |
3.500 |
1.150 |
|
(b)
Inventories |
154.788 |
173.582 |
179.378 |
|
(c)
Trade receivables |
38.434 |
20.920 |
21.630 |
|
(d)
Cash and cash equivalents |
1.287 |
2.277 |
14.013 |
|
(e)
Short-term loans and advances |
42.814 |
35.539 |
61.340 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
239.873 |
235.818 |
277.511 |
|
|
|
|
|
|
TOTAL |
516.276 |
498.058 |
444.206 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
INCOME |
1051.264 |
1097.362 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
9.671 |
4.928 |
17.583 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.92 |
11.95 |
42.65 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.92 |
0.45 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.60 |
3.23 |
2.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82 |
0.83 |
1.07 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
4.122 |
4.122 |
4.622 |
|
Reserves & Surplus |
73.080 |
78.007 |
97.179 |
|
Net
worth |
77.202 |
82.129 |
101.801 |
|
|
|
|
|
|
long-term Borrowings |
89.164 |
110.445 |
98.152 |
|
Short-term Borrowings |
138.866 |
154.983 |
166.827 |
|
Total
borrowings |
228.030 |
265.428 |
264.979 |
|
Debt/Equity
ratio |
2.954 |
3.232 |
2.603 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two 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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10477606 |
19/12/2013 |
657,000.00 |
STATE
BANK OF INDIA |
RELATIONSHIP
MANAGER (ME), RBO-II,, SME CO-OPERAT |
B96374715 |
|
2 |
10328230 |
28/06/2014
* |
249,600,000.00 |
STATE
BANK OF INDIA |
167-B,
SME BRANCH,, CO-OPERATIVE INDUSTRIAL ESTAT |
C19737840 |
|
3 |
10219210 |
31/03/2010 |
20,000,000.00 |
STATE
BANK OF INDIA |
SMECCC
BRANCH,, ZONAL OFFICE, THE MALL, KANPUR 208001, |
A86152253 |
|
4 |
10190073 |
24/03/2011
* |
62,500,000.00 |
PUNJAB
NATIONAL BANK |
K - BLOCK,
GOVIND NAGAR, KANPUR 208006, UTTAR PRADESH, INDIA |
B11741147 |
|
5 |
10190071 |
26/11/2009 |
62,350,000.00 |
PUNJAB
NATIONAL BANK |
K
GOVIND NAGAR, KANPUR - 208006, UTTAR PRADESH, INDIA |
A75298810 |
|
6 |
10129687 |
27/09/2008 |
10,000,000.00 |
PANJAB
NATIONAL BANK |
K BLOCK
GOVIND NAGAR,, KANPUR 208 |
A50649946 |
|
7 |
10029752 |
07/11/2006 |
1,000,000.00 |
PUNJAB
NATIONAL BANK |
BRANCH
COLONEL GANJ, KANPUR - 208012, UTTAR PRADESH, INDIA |
A08315541 |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loan and Advance from Directors |
15.517 |
22.955 |
|
Total |
15.517 |
22.955 |
CHANGE OF ADDRESS:
The Registered Office of the Company has been shifted from 169 – B,
Co-Operative, Industrial Estate, Udyog Nagar, Kanpur – 208022, Uttar Pradesh,
India to the present address w.e.f. 11.01.2011.
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Other Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipment’s
· Other Equipment’s
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. 64.20 |
|
|
1 |
Rs. 100.03 |
|
Euro |
1 |
Rs. 71.91 |
INFORMATION DETAILS
|
Information Gathered
by : |
MAN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.