MIRA INFORM REPORT
|
Report No. : |
323328 |
|
Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
GE Plaza Airport Road, Yerawada, Pune – 411006, Maharashtra |
|
Tel. No.: |
91-20-66026777/6666 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.09.2000 |
|
|
|
|
Com. Reg. No.: |
11-015329 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1102.273 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U66010PN2000PLC015329 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB02323G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB5730G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is in the business of underwriting general
insurance policies relating to fire, marine and miscellaneous segments. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (76) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established and reputed company, it is one of the
strongest players in the global insurance industry having excellent track
record. Financial position of the company is sound. Fundamentals of the
company are strong and healthy. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered good 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 |
ICRA RATING |
|
Rating |
Claims Paying Ability (IAAA) |
|
Rating Explanation |
The rating indicates highest claims paying ability of the company and
fundamentally strong position |
|
Date |
December 2014 |
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
Management non-cooperative (Tel. No.: 91-20-66026777/6666)
LOCATIONS
|
Registered Office : |
GE Plaza Airport Road, Yerawada, Pune – 411006, Maharashtra, India |
|
Tel. No.: |
91-20-66026777/6666 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Rahul K Bajaj |
|
Designation : |
Director |
|
Address : |
Bajaj Auto Colony, Mumbai Pune Road, Akurdi, Pune – 411035,
Maharashtra, India |
|
Date of Birth/Age : |
10.06.1938 |
|
Date of Appointment : |
19.09.2000 |
|
Voter ID No.: |
MT004302450372102 |
|
DIN No.: |
00014529
|
|
|
|
|
Name : |
Sanjiv R Bajaj |
|
Designation : |
Director |
|
Address : |
Bajaj Auto Colony, Mumbai Pune Road, Akurdi, Pune – 411035,
Maharashtra, India |
|
Date of Birth/Age : |
02.11.1969 |
|
Date of Appointment : |
19.09.2000 |
|
Voter ID No.: |
MT004302450372049 |
|
DIN No.: |
00014615
|
|
|
|
|
Name : |
Ranjit K Gupta |
|
Designation : |
Director |
|
Address : |
F-901, Marvel Diva, Hadapsar, Pune – 411013, Maharashtra, India |
|
Date of Birth/Age : |
19.03.1943 |
|
Date of Appointment : |
19.09.2000 |
|
DIN No.: |
00139465
|
|
|
|
|
Name : |
Mr. Manuel F Bauer |
|
Designation : |
Director |
|
Address : |
Koeniginstrasse 28, Munich, Germany 80802 |
|
Date of Birth/Age : |
27.08.1954 |
|
Date of Appointment : |
20.01.2011 |
|
DIN No.: |
03443230
|
|
|
|
|
Name : |
Niraj R Bajaj |
|
Designation : |
Director |
|
Address : |
Flat No. 97, Mount Unique, 13th Floor, 62A, Peddar Road,
Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1954 |
|
Date of Appointment : |
16.05.2001 |
|
Voter ID No.: |
MT0402425859 |
|
DIN No.: |
00028261
|
|
|
|
|
Name : |
Sanjay K Asher |
|
Designation : |
Director |
|
Address : |
No. 32, Mody Street, Mumbai – 400001, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1964 |
|
Date of Appointment : |
06.06.2002 |
|
DIN No.: |
00008221
|
|
|
|
|
Name : |
Suraj C Mehta |
|
Designation : |
Director |
|
Address : |
401A, Palladium 46C, Nathan Road, Off Mangaldas Road, Pune – 411001,
Maharashtra, India |
|
Date of Birth/Age : |
01.05.1944 |
|
DIN No.: |
00164791
|
|
|
|
|
Name : |
Manu P Tandon |
|
Designation : |
Director |
|
Address : |
16, Solitaire 4, Samadhi Road Off Pune, Nagar Road, Pune – 411016,
Maharashtra, India |
|
Date of Birth/Age : |
24.07.1943 |
|
Date of Appointment : |
06.03.2009 |
|
DIN No.: |
00087615
|
|
|
|
|
Name : |
Serajulhaq Khan |
|
Designation : |
Director |
|
Address : |
181, Antariksha Appartments, 95/96, Kakasaheb Gadgil Marg, Prabhadevi,
Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1938 |
|
Date of Appointment : |
26.09.2008 |
|
Voter ID No.: |
MT04019039013 |
|
DIN No.: |
00006170
|
|
|
|
|
Name : |
Kamesh G Goyal |
|
Designation : |
Director |
|
Address : |
69 Koenginstrasse, Munich Germany – 85539 |
|
Date of Birth/Age : |
25.05.1966 |
|
Date of Appointment : |
11.01.2013 |
|
DIN No.: |
01816985
|
|
|
|
|
Name : |
Tapan Kumar Singhel |
|
Designation : |
Director |
|
Address : |
Flat 901 B, Winb Marvel, Matrix Next to Passport Office Pingle Wasti,
Mundhwa, Pune – 411036, Maharashtra, India |
|
Date of Birth/Age : |
12.08.1966 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
03428746
|
|
|
|
|
Name : |
Dipakkumar J Poddar |
|
Designation : |
director |
|
Address : |
171, Brij Kutir Rungta Lane, Off Napean Sea Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
09.11.1943 |
|
Date of Appointment : |
30.09.2002 |
|
DIN No.: |
00001250
|
KEY EXECUTIVES
|
Name : |
Onkar C Kothari |
|
Designation : |
Secretary |
|
Address : |
Flat No. 16, Media Corner, Wadgaon BK, Sinhagad Road, Pune – 411041,
Maharashtra, India |
|
Date of Birth/Age : |
14.02.1982 |
|
Date of Appointment : |
11.02.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bajaj Finserv Limited |
|
81567565 |
|
Allianz Se |
|
28659085 |
|
Bajaj Finserv Limited J/W Bajaj K Rahul |
|
100 |
|
Bajaj Finserv Limited J/W Bajaj R Madhur |
|
100 |
|
Bajaj Finserv Limited J/W Bajaj R Sanjiv |
|
100 |
|
Bajaj Finserv Limited J/W GuptaK Ranjit |
|
100 |
|
Bajaj Finserv Limited J/W D Sa Kevin |
|
100 |
|
Bajaj Finserv Limited J/W J Sridhar |
|
100 |
|
|
|
|
|
Total |
|
110227250 |
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 |
26.00 |
|
Bodies corporate |
74.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the business of underwriting general
insurance policies relating to fire, marine and miscellaneous segments. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
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Brand Names : |
Not Divulged |
|
|
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
|
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
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 : |
B S R and Company Chartered Accountants |
|
Address : |
703, Godrej Castlemine, Bund Garden Road, Pune – 411001, Maharashtra,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
¨ Bajaj Finserv
Limited |
|
|
|
|
Group Association : |
¨ Bajaj Finserv
House Owners Association |
|
|
|
|
Group Company : |
¨ Bajaj Auto
Limited ¨ Bajaj Holdings
and Investments Limited ¨ Bajaj Allianz
Financial Distributors Limited ¨ Bajaj
Electricals Limited ¨ Bajaj Finance
Limited ¨ Bajaj Allianz
Life Insurance Company Limited ¨ Bajaj Financial
Solutions Limited ¨ Allianz Cornhill
Information Services Private Limited. ¨ Allianz
Insurance Management Asia Pacific ¨ Allianz
Insurance Co Lanka Limited ¨ Allianz
Investment Management Singapore Pte ¨ AGCS Marine
Insurance Company ¨ Allianz Global
Risks US Insurance Company ¨ Allianz Global
Corporate and Speciality AG, Canada ¨ Allianz Global
Corporate and Speciality AG, SpainGroup ¨ Allianz Global
Corporate and Speciality AG, UK ¨ Allianz Global
Corporate and Speciality AG, Netherlands ¨ Allianz Global
Corporate and Speciality AG, Italy ¨ Allianz Global
Corporate and Speciality AG, Australia ¨ Allianz Global
Corporate and Speciality AG, Switzerland ¨ Allianz Global
Corporate and Speciality Denmark - Nordic Region ¨ Allianz Global
Corporate and Speciality – Malaysia ¨ Insurance Joint
Stock Company Allianz Russia ¨ Allianz Global
Corporate and Speciality AG, Munich ¨ Allianz AG
Reinsurance, branch Asia Pacific ¨ Allianz Hongkong
- Name changed from Allianz China ¨ Allianz Marine
and Aviation Versicherungs AG ¨ Allianz Ins
Company of Singapore – PTE ¨ 36 Allianz
Belgium ¨ Allianz
Elementar Versicherungs – Austria ¨ Allianz Global
Corporate and Speciality – France ¨ AGA
International S.A ¨ Allianz Risk
Transfer AG ¨ Euler Hermes
Deutschland [Formerly known as Euler Hermes Cr Insurance (S) Limited.] ¨ Allianz CP General
Ins Company Limited ¨ PT ASURANSI
Allianz Life Indonesia ¨ Allianz Risk
Consultants, LLC ¨ Allianz Services
(UK) Limited ¨ Allianz Global
Corporate and Speciality AG Singapore ¨ Allianz Managed
Operations and Services SE ¨ Allianz China
General Insurance Company Limited ¨ AGA Assistance
(India) Private Limited ¨ AGA Services
(India) Private Limited ¨ Euler Hermes
Services India Private Limited ¨ Allianz
Insurance Company Egypt (Non-Life) ¨ AZT Automotive
GMBH |
|
|
|
|
Enterprise where key mgmt. personnel is having significant influence : |
¨ Mukand Engineers
Limited ¨ Mukand Limited ¨ Hind Musafir
Agency Limited |
|
|
|
|
Shareholder : |
¨ Allianz SE,
Germany |
|
|
|
|
Subsidiary of Joint Venture Partner : |
¨ Allianz SE India
Liaison Office |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs. 1250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110227250 |
Equity Shares |
Rs.10/- each |
Rs. 1102.273
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
Share Capital |
1102.273 |
1102.273 |
1102.273 |
|
Reserves and Surplus |
15540.682 |
11450.790 |
8499.988 |
|
Fair Value Change Account |
-- |
-- |
(15.007) |
|
Borrowings |
-- |
-- |
-- |
|
Total |
16642.955 |
12553.063 |
9587.254 |
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
Investments |
60178.539 |
47130.849 |
38656.891 |
|
Loans |
-- |
-- |
-- |
|
Fixed Assets |
|
|
|
|
Gross Block |
4618.419 |
4395.789 |
3351.292 |
|
Less:- Accumulated Depreciation |
1741.788 |
1589.530 |
1454.846 |
|
Net Block |
2876.631 |
2806.259 |
1896.446 |
|
Capital Work In Progress including Capital advances |
10.382 |
35.076 |
184.379 |
|
|
2887.013 |
2841.335 |
2080.825 |
|
Deferred Tax Asset |
317.750 |
407.070 |
376.010 |
|
Current Assets |
|
|
|
|
Cash and Bank Balances |
9490.606 |
11316.053 |
8926.625 |
|
Advances and Other Assets |
4863.698 |
3677.160 |
3749.648 |
|
Sub-Total (A) |
14354.304 |
14993.213 |
12676.273 |
|
|
|
|
|
|
Current Liabilities |
40241.772 |
34.755 |
29.084 |
|
Provisions |
20852.879 |
18063.910 |
15118.500 |
|
Sub-Total (B) |
61094.651 |
52819.404 |
44202.745 |
|
Net Current Assets (C) = (A - B ) |
(46740.347) |
(37826.191) |
(31526.472) |
|
Miscellaneous Expenditure |
-- |
-- |
-- |
|
Total |
16642.955 |
12553.063 |
9587.254 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
Operating Profit/ (Loss), as per Revenue Accounts of |
|
|
|
|
|
(a) Fire Insurance Business |
1246.666 |
1132.012 |
542.760 |
|
|
(b) Marine Insurance Business |
418.613 |
205.638 |
152.611 |
|
|
(c) Miscellaneous Insurance Business |
3055.156 |
1982.882 |
480.513 |
|
|
|
4720.435 |
3320.532 |
1175.884 |
|
|
Income From Investments |
|
|
|
|
|
(a) Interest, Dividends and Rent -Gross |
1104.712 |
831.906 |
722.120 |
|
|
(b) Amortisation of Discount/(Premium) |
18.791 |
22.020 |
25.391 |
|
|
(c) Profit on sale/redemption of investments |
26.766 |
18.851 |
5.624 |
|
|
Less:- (Loss) on sale/redemption of investments |
(12.658) |
(26.956) |
(7.508) |
|
|
|
1137.611 |
845.821 |
745.627 |
|
|
Other Income -
Miscellaneous Income |
29.909 |
61.345 |
32.110 |
|
|
Total(A) |
5887.955 |
4227.698 |
1953.621 |
|
|
|
|
|
|
|
|
Provisions (Other than taxation) |
|
|
|
|
|
(a) For diminution in the value of
investments |
-- |
-- |
-- |
|
|
(b) For doubtful debts |
(1.598) |
1.478 |
(0.669) |
|
|
(c) Others (to be specified) |
-- |
-- |
-- |
|
|
Other Expenses |
|
|
|
|
|
(a) Expenses other than those directly related to the insurance
business |
19.689 |
10.804 |
14.398 |
|
|
(b) Bad debts written off |
-- |
-- |
-- |
|
|
(c) Preliminary Expenses written off |
-- |
-- |
-- |
|
Less |
Total (B) |
18.091 |
12.282 |
13.729 |
|
|
|
|
|
|
|
|
Profit before tax |
5869.864 |
4215.416 |
1939.892 |
|
Less |
Provision for taxation |
|
|
|
|
|
Current Tax |
1690.652 |
1295.674 |
661.841 |
|
|
Deferred Tax expense |
89.320 |
(31.060) |
41.510 |
|
|
|
1779.972 |
1264.614 |
703.351 |
|
|
Profit after |
4089.892 |
295.802 |
1236.541 |
|
|
Profit available for appropriation |
4089.892 |
2950.802 |
1236.541 |
|
|
Appropriations |
-- |
-- |
-- |
|
|
Balance of Profit brought forward last year |
9784.593 |
6833.791 |
5597.250 |
|
|
Balance carried forward to Balance Sheet |
13874.485 |
9784.593 |
6833.791 |
|
|
Earnings per Share: Basic |
37.10 |
26.77 |
11.22 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
---- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 13.02.2015 |
|
Lodging No.:- CEXAL/37/2015 Filing Date:- 13.02.2015 |
|
Petitioner: COMMISSIONER OF CENTRAL EXICSE, PUNE Respondent: BAJAJ ALLIANZ
GENERAL INSURANCE
COMPANY LIMITED Petn. Adv : NEELESH VASANT KALANTRI (I4349) District: PUNE |
|
Bench: SINGLE Status: Pre-Admission
Category: CENTRAL EXCISE APPEAL (CEXA) Last Date: 23.04.2014
Stage: FOR REJECTION [ORIGINAL SIDE MATTERS] Last Coram: REGISTRAR(OS)/PROTHONOTARY
AND SR. MASTER |
|
Act: Central Excise and Salt Act UNDER SECTION: 35G |
INDEX
OF CHARGES
NO CHARGES EXIST FOR THE COMPANY
BACKGROUND
Bajaj Allianz General Insurance Company Limited (‘the Company’) was incorporated on 19th September 2000, as a company under the Companies Act, 1956 (‘the Act’). The Company is registered with Insurance Regulatory and Development Authority (‘IRDA’) and is in the business of underwriting general insurance policies relating to fire, marine and miscellaneous segments. The IRDA renewed the Company’s certificate of registration to sell general insurance policies in India for the year 2013-14 vide its certificate dated 8th February 2013. The certificate has been renewed on 25th February 2014 with effect from 1st April 2014 and is valid up to 31 March 2015.
BUSINESS PERFORMANCE
DURING THE YEAR
The focus of the Company continued to be on growth with profitability during the year 2013-14 as well. The Company’s gross written premium, excluding premiums from the Declined Risk Pool/IMTPIP, grew from Rs. 40630.000 Million in 2012-13 to Rs. 45800.000 Million in 2013-14, which is an increase of 13%. The combined ratio, excluding losses from the motor pool, stood at 94.2% as against 89.4% recorded in 2012-13 and, including the pool losses, the ratio improved from 99.5% in 2012-13 to 98.1% in 2013-14. In a market that is highly competitive, this is one of the best combined ratios and a vindication of the Company’s strong underwriting focus and cost management skills.
The net earned premium during the year excluding the inward premium from the motor pool was Rs. 34890.000 Million as against Rs. 2709.000 Million in the previous year, a growth of 29%.
The Company continued to retain the second position in the private sector with a stable market share of 6.4%. The Company continues to pursue efforts to retain renewal business, without compromising quality of risk and minimum profitability benchmarks, while reinforcing the customer’s faith in the Company’s service. During the year, the Company sold over 67 lakhs policies. The number of claims reported in 2013-14 was 824,455 as against 583,117 reported for the previous year.
UNDERWRITING RESULTS
The Company recorded an underwriting profit before considering share of losses from the motor pool of Rs. 1460.000 Million (previous year profit Rs. 1800.000 Million). After considering the share of losses from the motor pool, the Company recorded an underwriting loss of Rs. 20.000 Million as against a loss of Rs. 550.000 Million in the previous year. The net underwriting loss after pool losses represents 0.06% of the Net Earned premium (PY:
2.03%).
RECOGNITION AND
AWARDS
The Company won, amongst others, the award for “Best Insurance Company in the Private Sector – General” by ABP News - Banking; Financial Services & Insurance Awards. The Company also won three awards at the Indian Insurance Awards 2013, organized and conducted by Fintelekt, in the following categories, namely “General Insurance Company of the Year”, “Claim Service Company of the Year” and “Personal Lines Growth Leadership”. For the technological innovations implemented in business, the Company won two awards at the Mobile and Digital Marketing Summit, namely “Best Mobile Applications in Business” for EEZEE TAB and “Best Mobile Application of Customer Engagement” for the App – Mobi Fuel. The Company also won the Claims Awards Asia 2013 in the category “Claims Innovation of the Year 2013” for its Tablet based claims module, in the Allianz Asia Pacific Region. Recently the company has also been conferred with the “Excellence in Digitalization” award at the Allianz Global Innovation Awards 2014.
FIXED ASSETS
- Goodwill
- Leasehold
Improvement
- Building
- Furniture and
Fittings
- Vehicles
- Office
Equipments
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. 63.86 |
|
|
1 |
Rs. 98.89 |
|
Euro |
1 |
Rs. 70.73 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
76 |
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.