MIRA INFORM REPORT
|
Report No. : |
322164 |
|
Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ANI TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Sunteck Centre, 37- 40, Subhash Road, Vile Parle (East),
Mumbai 400057, Maharashtra |
|
Tel. No.: |
91-22-30947900/ 33553355 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.12.2010 |
|
|
|
|
Com. Reg. No.: |
11-240894 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 413.512 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2010PTC240894 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCA1389G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject engaged in the business of providing online and on-call car rental services |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms are reported
as usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 DENIED BY
|
Name : |
Mr. Sushil Karalkar |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9833487957 |
|
Date : |
12.05.2015 |
LOCATIONS
|
Registered Office : |
4th Floor, Sunteck Centre, 37- 40, Subhash Road, Vile Parle (East),
Mumbai 400057, Maharashtra, India |
|
Tel. No.: |
91-22-30947900/ 33553355 |
|
Fax No.: |
91-22-66864050/ 30947974 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Auto Centre NO. 13, 4th “C” Cross, 5th Block,
Koramangala Industrial Layout, Bangalore – 560095, Karnataka, India |
|
Tel. No.: |
91-80-30853022 |
|
Fax No.: |
91-80-30853042 |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Avnish Sarabjit Bajaj |
|
Designation : |
Nominee Director |
|
Address : |
Flat No. 4, 4th Floor, Sanghi House,, 94-Nepean Sea Road,, Mumbai, 400006, Maharashtra, India |
|
Date of Birth/Age : |
16.07.1970 |
|
Date of Appointment : |
12.11.2013 |
|
PAN No.: |
BCKPB8883M |
|
DIN No.: |
00281547 |
|
|
|
|
Name : |
Lee Jared Fixel |
|
Designation : |
Nominee Director |
|
Address : |
230 W 56th St 57a, New York, New York, 10019, , United States Of America |
|
Date of Birth/Age : |
23.02.1980 |
|
Date of Appointment : |
26.03.2012 |
|
DIN No.: |
02635091 |
|
|
|
|
Name : |
Mr. Bhavish Aggarwal |
|
Designation : |
Director |
|
Address : |
92-D, Kitchlu Nagar, Ludhiana, 141001, Punjab, India |
|
Date of Birth/Age : |
28.08.1985 |
|
Date of Appointment : |
03.12.2010 |
|
PAN No.: |
AGPPA8363D |
|
DIN No.: |
03287473 |
|
|
|
|
Name : |
Mr. Ankit Bhati |
|
Designation : |
Director |
|
Address : |
127-Govt.Awas Parisar, Sai Baba Mandir, Jodhpur Road, Pali, 306401, Rajasthan, India |
|
Date of Birth/Age : |
13.07.1986 |
|
Date of Appointment : |
17.02.2011 |
|
PAN No.: |
BCKPB8883M |
|
DIN No.: |
03430136 |
|
|
|
|
Name : |
Mr. Jonathan Olof Bullock |
|
Designation : |
Nominee Director |
|
Address : |
15860, Union Ave, Los Gatos, California, 95032, , United States Of America |
|
Date of Birth/Age : |
|
|
Date of Appointment : |
14.04.2015 |
|
DIN No.: |
07120383 |
KEY EXECUTIVES
|
Name : |
Mr. Sushil Karalkar |
|
Designation : |
Finance Manager |
|
|
|
|
Name : |
Mr. Mitesh Jitendra Shah |
|
Designation : |
Chief Executive Officer |
|
Address : |
Ig-93, Kalptaru Aura, Lbs Road,, Ghatkopar (West), Mumbai, 400086,
Maharashtra, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AVQPS3339B |
|
|
|
|
Name : |
Mr. Sandeepkumar Awadesh Singh |
|
Designation : |
Secretary |
|
Address : |
9/7, Century Colony, P.B. Marg, Worli, Near Doordarshan Kendra,
Mumbai, 400030, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1988 |
|
Date of Appointment : |
28.07.2014 |
|
PAN No.: |
DCYPS1441G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2014
|
Names of Shareholders (Equity) |
|
No. of Shares |
|
Bhavish Aggarwal |
|
5910 |
|
Ankit Bhati |
|
3890 |
PREFERENCE SHARE:
|
Names of Shareholders |
|
No. of Shares |
|
Zarina Yar Khan |
|
754 |
|
Ranjana Yar Khan |
|
536 |
|
Rohit Kumar Bansal |
|
98 |
|
Kunal Bahl |
|
98 |
|
Anupam Mittal |
|
712 |
|
Matrix Partners India Investment Holdings II LLC, Mauritius |
|
516 |
|
Tiger Global Six India II Holdings |
|
12788 |
|
Matrix Partners India Investment Holdings II LLC, Mauritius |
|
7852 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
4.20 |
|
Directors or relatives of Directors |
94.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in the business of providing online and on-call car rental services |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
1st Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi
Marg, Mahalaxmi, Mumbai – 400011, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-30902511 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFB7357B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
After As on
30.09.2014
Authorized Capital: Rs. 413.711 Million
Issued, Subscribed & Paid-up Capital: Rs. 413.512
Million
As on 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30186 |
Equity Shares |
Rs.10/- each |
Rs. 0.302 Million |
|
3134 |
Preference shares |
Rs.10/- each |
Rs. 0.031 Million |
|
8657 |
Preference shares |
Rs.20000/- each |
Rs. 173.140 Million |
|
11983 |
Preference shares |
Rs.20000/- each |
Rs. 239.660 Million |
|
17800 |
Preference shares |
Rs.10/- each |
Rs. 0.178 Million |
|
40000 |
Preference shares |
Rs.10/- each |
Rs. 0.400 Million |
|
|
Total |
|
Rs. 413.711
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13115 |
Equity Shares |
Rs.10/- each |
Rs. 0.131 Million |
|
3134 |
Preference shares |
Rs.10/- each |
Rs. 0.031 Million |
|
8657 |
Preference shares |
Rs.20000/- each |
Rs. 173.140 Million |
|
11983 |
Preference shares |
Rs.20000/- each |
Rs. 239.660 Million |
|
9420 |
Preference shares |
Rs.10/- each |
Rs. 0.094 Million |
|
|
Total |
|
Rs. 413.057 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 |
412.933 |
173.272 |
173.272 |
|
(b) Reserves & Surplus |
(158.712) |
(210.662) |
17.357 |
|
(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) |
254.221 |
(37.390) |
190.629 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.268 |
0.797 |
0.016 |
|
Total Non-current
Liabilities (3) |
2.268 |
0.797 |
0.016 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.050 |
0.050 |
|
(b) Trade
payables |
8.799 |
3.911 |
0.180 |
|
(c) Other
current liabilities |
45.383 |
219.783 |
2.379 |
|
(d) Short-term
provisions |
8.050 |
0.109 |
0.000 |
|
Total Current
Liabilities (4) |
62.232 |
223.853 |
2.609 |
|
|
|
|
|
|
TOTAL |
318.721 |
187.260 |
193.254 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
22.712 |
14.455 |
1.922 |
|
(ii)
Intangible Assets |
2.097 |
0.884 |
0.058 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10.558 |
10.184 |
2.319 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
35.367 |
25.523 |
4.299 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
17.361 |
5.504 |
0.000 |
|
(b)
Inventories |
20.606 |
10.532 |
0.525 |
|
(c) Trade
receivables |
233.809 |
140.833 |
184.560 |
|
(d) Cash
and cash equivalents |
7.146 |
3.032 |
3.797 |
|
(e)
Short-term loans and advances |
4.432 |
1.836 |
0.073 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
283.354 |
161.737 |
188.955 |
|
|
|
|
|
|
TOTAL |
318.721 |
187.260 |
193.254 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
496.153 |
153.984 |
7.501 |
|
|
|
Other Income |
14.377 |
10.130 |
0.092 |
|
|
|
TOTAL (A) |
510.530 |
164.114 |
7.593 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
203.862 |
95.338 |
4.805 |
|
|
|
Other expenses |
637.349 |
291.602 |
21.602 |
|
|
|
TOTAL
(B) |
841.211 |
386.940 |
26.407 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(330.681) |
(222.826) |
(18.814) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.469 |
0.098 |
0.029 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(331.150) |
(222.924) |
(18.843) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
11.020 |
5.111 |
0.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
(342.170) |
(228.035) |
(18.923) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
(0.016) |
0.016 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-I) (J) |
(342.170) |
(228.019) |
(18.939) |
|
|
|
|
|
|
|
|
|
|
Earnings
(loss)Per Share (Rs.) |
(33751.24) |
(22756.11) |
(1893.70) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(68.96) |
(148.08) |
(252.49) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(66.65) |
(144.71) |
(250.82) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(107.36) |
(121.77) |
(9.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.35) |
6.10 |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.55 |
0.72 |
72.42 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
173.272 |
173.272 |
412.933 |
|
Reserves & Surplus |
17.357 |
(210.662) |
(158.712) |
|
Net worth |
190.629 |
(37.390) |
254.221 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.050 |
0.050 |
0.000 |
|
Total borrowings |
0.050 |
0.050 |
0.000 |
|
Debt/Equity ratio |
0.000 |
(0.001) |
0.000 |
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 |
7.501 |
153.984 |
496.153 |
|
|
|
1,952.846 |
222.211 |
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 |
7.501 |
153.984 |
496.153 |
|
Profit/Loss |
(18.939) |
(228.019) |
(342.170) |
|
|
(252.49%) |
(148.08%) |
(68.96%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
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 |
No |
|
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 |
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
0.050 |
|
|
|
|
|
Total |
0.000 |
0.050 |
INDEX OF
CAHREGS: NO CHARGES EXIST FOR COMPANY
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
|
Unpaid Dividend on Compulsory Convertible preference share of the Years |
0.007 |
|
Discount Coupons not Availed by Customers |
3.688 |
|
Total |
3.695 |
FIXED ASSETS:
- Computer
- Office Equipment
- Plant and Machinery
- Furniture and Fixture
- Motor Vehicles
- Computer Software
PRESS RELEASE:
Soft Bank Internet and Media to Lead Investment of $210 Million in
India’s Ola Cabs
October 27, 2014: MUMBAI, India & San Carlos, Calif.--(BUSINESS WIRE)—Soft Bank Internet and Media, Inc. (“SIMI”) and ANI Technologies Private limited (better known as “Ola Cabs” or “Ola”) today announced a definitive agreement under which SIMI will lead an investment of $210 million in Ola along with existing investors.
Ola, founded in 2011, has grown to become the leading transportation aggregator in India. Ola leverages its technology platform to provide a marketplace connecting consumers and drivers via mobile apps, the web and call centers. Ola’s app now hosts more than 33,000 vehicles across 19 major cities in India. Through this strategic investment and partnership with Ola, SIMI aims to further expand the Soft Bank Group’s presence in India and drive synergies with its network of Internet companies around the world.
Masayoshi Son, Chairman and CEO of Soft Bank Corp. said, “Since Soft Bank’s foundation, our mission has been to contribute to people’s lives through the Information Revolution. They believe India is at a turning point in its development and have confidence that India will grow strongly over the next decade. As part of this belief, we intend to deploy significant capital in India over the next few years to support development of the market.”
Nikesh Arora, Vice Chairman of Soft Bank Corp. and CEO of SIMI said, “India has the third-largest Internet user base in the world, but a relatively small online market currently. This situation means India has, with better, faster and cheaper Internet access, a big growth potential. With today’s announcement Soft Bank is contributing to the development of the infrastructure for the digital future of India. They want to support the leaders and entrepreneurs of the digital future; Bhavish is such a great leader.”
Bhavish Aggarwal, Co-founder and CEO of Ola Cabs said, “We are thrilled with the pace at which we are growing. Ola is at the forefront of the mobile Internet revolution in India and Soft Bank as an investor and a strategic partner with its global network, brings in a lot of relevant experience and knowledge of this domain. We will continue to build towards our vision of transportation as a seamless and ubiquitous service in every corner of the country and focus on the driver ecosystem to enable micro entrepreneurship and skill development at scale.”
Nikesh Arora will be joining the board of ANI Technologies Private Limited as part of this strategic investment by SIMI.
Morrison & Forester LLP acted as legal advisor and the Raine Group LLC acted as financial advisor to Soft Bank.
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 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.64.20 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
44 |
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.