MIRA INFORM REPORT
|
Report No. : |
322323 |
|
Report Date : |
13.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORPAK SYSTEMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit no 501-502, South Block, Sacred World, S No. 75/2/2B, CTS No.
1498, Wanawadi, Pune – 411040, Maharashtra |
|
Tel. No.: |
91-20-41061717 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
06.05.2009 |
|
|
|
|
Com. Reg. No.: |
11-133896 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.166 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900PN2009PTC133896 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEO02001G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCO1744R |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
Developing and Marketing end to end solution for the
automation of fleet fuel stations management, supply, installation,
implementation, commissioning training and Maintenance. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 |
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|
Litigation : |
Exist |
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|
Comments : |
Subject is an established company having moderate track record. For the financial year ended 2014, the company has reported moderate operational
performance and it incurred loss from its operational activities. Rating further constrained on account of company’s risk moderate
financial risk profile and huge external borrowing taken by the company which
acts as threatening to the liquidity profile of the company. However, trade relations are reported as fair. Payments are reported
to be slow but correct. In view of operational loss backed by huge borrowings, the company can
be considered for business dealing with some caution. |
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 DECLINED
MANAGEMENT NON COOPERATIVE (91-20-41061717)
LOCATIONS
|
Registered Office : |
Unit no 501-502, South Block, Sacred World, S No. 75/2/2B, CTS No.
1498, Wanawadi, Pune – 411040, Maharashtra, India |
|
Tel. No.: |
91-20-41061717 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website: |
DIRECTORS
As on 16.06.2014
|
Name : |
Mr. Dharmesh Kanakkant Joshi |
|
Designation : |
Director |
|
Address : |
BL-B/7, Bramha Majestic, SN – 15/1/2, Kondhwa, Khurd Nibm Road, Pune –
411048, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1971 |
|
Date of Appointment : |
06.05.2009 |
|
DIN No.: |
02267363 |
|
|
|
|
Name : |
Mr. Yerachmiel Shtrahl |
|
Designation : |
Director |
|
Address : |
2nd Hareuvenit ST Ramat Gan – 52332, Israel |
|
Date of Birth/Age : |
12.10.1958 |
|
Date of Appointment : |
06.05.2009 |
|
DIN No.: |
02381903 |
KEY EXECUTIVE
|
Name : |
Sunil N.Adhiya |
|
Designation : |
Practising Company Secretary |
|
Address : |
201, Pallavi House, Dr Ketkar Marg, Erandwane, Pune-411 004, Maharashtra, India |
|
Mobile No.: |
91-9823122984 |
|
Tel No.: |
91-20-25661392 |
|
Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.06.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Orpak Systems Limited, Israel |
490266 |
94.90 |
|
Dharmesh Kanakkant Joshi |
26351 |
5.10 |
|
Total |
516617 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 16.06.2014
|
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 |
94.90 |
|
Directors or relatives of Directors |
5.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Developing and Marketing end to end solution for the
automation of fleet fuel stations management, supply, installation,
implementation, commissioning training and Maintenance. |
|
|
|
|
Products : |
-- |
|
|
|
|
Brand Names : |
Not Divulged |
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|
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|
Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
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 : |
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Auditors : |
|
|
Name : |
S.A.Patel and Company Chartered Accountants |
|
Address : |
422-423, Paradise Complex, Sayajigung, Vadodara – 390005, Gujarat,
India |
|
Tel. No.: |
91-20-25661392 |
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Mobile No.: |
91-9823122984 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ADFPP1273N |
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Memberships : |
-- |
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Collaborators : |
-- |
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|
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Enterprise in which
KMP / Relatives of KMP can exercise significant influence: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000 |
Equity Shares |
Rs.10/- each |
Rs. 5.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
516617 |
Equity Shares |
Rs.10/- each |
Rs. 5.166
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 |
5.166 |
5.166 |
5.166 |
|
(b) Reserves & Surplus |
10.620 |
13.954 |
14.463 |
|
(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) |
15.786 |
19.120 |
19.629 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
108.710 |
95.858 |
49.524 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.039 |
|
(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) |
108.710 |
95.858 |
49.563 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
6.350 |
|
(b) Trade payables |
195.855 |
141.410 |
118.557 |
|
(c) Other current liabilities |
1.789 |
1.827 |
10.170 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.760 |
|
Total
Current Liabilities (4) |
197.644 |
143.237 |
135.837 |
|
|
|
|
|
|
TOTAL |
322.140 |
258.215 |
205.029 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.538 |
1.704 |
1.801 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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) |
1.570 |
0.040 |
0.000 |
|
(d) Long-term Loan and Advances |
2.317 |
0.260 |
0.260 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
5.425 |
2.004 |
2.061 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
7.860 |
7.409 |
5.252 |
|
(c) Trade receivables |
228.644 |
182.188 |
152.418 |
|
(d) Cash and cash equivalents |
48.565 |
39.446 |
45.218 |
|
(e) Short-term loans and
advances |
31.084 |
27.144 |
0.000 |
|
(f) Other current assets |
0.562 |
0.024 |
0.080 |
|
Total
Current Assets |
316.715 |
256.211 |
202.968 |
|
|
|
|
|
|
TOTAL |
322.140 |
258.215 |
205.029 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
261.091 |
NA |
201.552 |
|
|
Other Income |
0.659 |
NA |
0.413 |
|
|
TOTAL
|
261.750 |
NA |
201.965 |
|
|
|
|
|
|
|
Less |
EXPENSES |
266.614 |
NA |
192.312 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(4.864) |
NA |
9.653 |
|
|
|
|
|
|
|
Less |
TAX |
(1.530) |
NA |
2.943 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(3.334) |
(0.509) |
6.710 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.954 |
14.463 |
7.753 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
10.620 |
13.954 |
14.463 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
9.538 |
39.836 |
34.717 |
|
|
TOTAL
IMPORTS |
9.538 |
39.836 |
34.717 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(6.45) |
(0.98) |
13.33 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1.28) |
NA |
3.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.52) |
NA |
4.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.31) |
NA |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.89 |
5.01 |
2.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60 |
1.79 |
1.49 |
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 |
5.166 |
5.166 |
5.166 |
|
Reserves & Surplus |
14.463 |
13.954 |
10.620 |
|
Net
worth |
19.629 |
19.120 |
15.786 |
|
|
|
|
|
|
long-term borrowings |
49.524 |
95.858 |
108.710 |
|
Short term borrowings |
6.350 |
0.000 |
0.000 |
|
Total
borrowings |
55.874 |
95.858 |
108.710 |
|
Debt/Equity
ratio |
2.847 |
5.013 |
6.886 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION DETAILS
|
Case Details |
||
|
Case Type |
Reg.Civil Suit |
|
|
Filing No. |
200389/2014 Filing date: 18-01-2014 |
|
|
Registration No. |
200238/2014 Registration date: 06-02-2014 |
|
|
Case code |
202702003892014 |
|
|
|
||
|
CASE STATUS |
||
|
First Hearing Date |
06-02-2014 |
|
|
Next Hearing Date |
15-07-2015 |
|
|
Purpose of Hearing |
Unready Board |
|
|
Court No & Judge |
57 - 7TH JT. CJJD JMFC PUNE. |
|
|
|
||
|
Petitioner(s) & Advocate(s) |
||
|
Petitioner - DNS Power Systems Private Limited Address - S.No. 81 2, Dangat industrial Estate, Shivane, Tal Haveli, Dist Pune Advocate - S. D. Korpade |
||
|
Respondent(s) & Advocate(s) |
||
|
Respondent - Orpak Systems India Private Limited Address - 615, South Tower, Sacred World, Wanawadi, Pune 40 Advocate - |
||
|
ACTS |
||
|
Under Act(s) |
Civil Procedure codes |
|
|
Under Section(s) |
O7 R2 |
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|
Subject |
||
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|
LOWER COURT INFORMATION |
||
|
Court No & Name |
--- |
|
|
Case No & Year |
--- |
|
|
Case Decision Date |
--- |
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|
History Of Case Hearing |
||||||||||||
|
Regn. No. |
Judge |
Bussiness on Date |
Hearing Date |
Purpose of Hearing |
||||||||
|
200238/2014 |
JOINT CIVIL JUDGE J.D. AND JMFC PUNE. |
06-02-2014 |
14-06-2014 |
Awaiting Summons |
||||||||
|
200238/2014 |
JOINT CIVIL JUDGE J.D. AND JMFC PUNE. |
14-06-2014 |
19-07-2014 |
Awaiting Summons |
||||||||
|
200238/2014 |
JOINT CIVIL JUDGE J.D. AND JMFC PUNE. |
19-07-2014 |
15-09-2014 |
Awaiting Summons |
||||||||
|
200238/2014 |
JOINT CIVIL JUDGE J.D. AND JMFC PUNE. |
15-09-2014 |
19-11-2014 |
Unready Board |
||||||||
|
200238/2014 |
JOINT CIVIL JUDGE J.D. AND JMFC PUNE. |
19-11-2014 |
16-12-2014 |
Unready Board |
||||||||
|
200238/2014 |
JOINT CIVIL JUDGE J.D. AND JMFC PUNE. |
16-12-2014 |
20-01-2015 |
Unready Board |
||||||||
|
200238/2014 |
JOINT CIVIL JUDGE J.D. AND JMFC PUNE. |
20-01-2015 |
07-03-2015 |
Unready Board |
||||||||
|
200238/2014 |
JOINT CIVIL JUDGE J.D. AND JMFC PUNE. |
07-03-2015 |
16-04-2015 |
Unready Board |
||||||||
|
200238/2014 |
JOINT CIVIL JUDGE J.D. AND JMFC PUNE. |
16-04-2015 |
15-07-2015 |
Unready Board |
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|
Orders |
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|
Order No. |
Order Date |
Order Details |
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|
Writ Information |
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|
Regn. No. |
Appellate Case No. |
Appellate Authority |
Date of Reciept |
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|
Case Transfer Details Between The Courts |
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|
Regn. No. |
Transfer Date |
From Court No |
To Court No |
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UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Orpak Systems Limited, Israel External Commercial Borrowings |
108.710 |
95.858 |
|
Total |
108.710 |
95.858 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10458664 |
28/11/2014 * |
150,000,000.00 |
DEUTSCHE BANK AG |
SUPREM, MAIN ITI ROAD, AUNDH, PUNE, MAHARASHTRA - |
C38368072 |
* Date of charge modification
CONTINGENT LIABILITIES
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Bank Guarantees issued by bank on behalf of Company for which company has issued counter guarantee |
55.964 |
18.205 |
FIXED ASSETS
- Furniture and Fixtures
- Computers
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 : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
27 |
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.