MIRA INFORM REPORT
|
Report No. : |
324632 |
|
Report Date : |
29.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
KRAFT POWERCON INDIA PRIVATE LIMITED (w.e.f. 21.04.2011) |
|
|
|
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Formerly Known
As : |
ASSOCIATED POWERCON EQUIPMENT (INDIA) LIMITED |
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Registered
Office : |
7-Electronic Co-Op Estate Limited, Pune-Satara Road, Pune – 411009,
Maharashtra |
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Tel. No.: |
91-20-24220170/24220190/24222645 |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
22.04.1998 |
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|
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Com. Reg. No.: |
11-114575 |
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Capital
Investment / Paid-up Capital : |
Rs. 8.334 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U29299PN1998PTC114575 |
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IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of medium and large power IDC Power and
rectifier equipment (High Voltage Rectifier) |
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No. of Employees
: |
160 (Approximately) |
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 |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is established company and is having satisfactory track
record. From the financials of 2014, the general financial position of the company
seems to be sound. Trade relation are fair. Business is active. Payments terms are
reported to be usually correct. In view of sound financial, company can be considered for the 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 PARTED BY
|
Name : |
Mr. Anil Khule |
|
Designation : |
Accounts Manager |
|
Contact No.: |
7387084518 |
|
Date : |
26.05.2015 |
LOCATIONS
|
Registered Office/ Factory : |
7-Electronic Co-Op Estate Limited, Pune-Satara Road, Pune – 411009,
Maharashtra, India |
|
Tel. No.: |
91-20-24220170/24220190/24222645 |
|
Fax No.: |
91-20-24222841/24228412 |
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E-Mail : |
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|
Regional Offices : |
Located at :
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DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Vijay Bhimrao Jakkli |
|
Designation : |
Chairman |
|
Address : |
28-C, Quiet House, Rue Law De La Lauriston, Pondicherry 605 001, India |
|
Date of Birth/Age : |
28.08.1940 |
|
Date of Appointment : |
15.04.2003 |
|
DIN No.: |
00438463 |
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|
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Name : |
Mr. Ranjit Vijay Jakkli |
|
Designation : |
Managing Director |
|
Address : |
1065, Shukrawar Peth, Pune 411 002, Maharashtra, India |
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Date of Birth/Age : |
22.03.1966 |
|
Date of Appointment : |
22.04.1998 |
|
DIN No.: |
00183492 |
|
|
|
|
Name : |
Ms. Sheetal Jayant Joshi |
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Designation : |
Director |
|
Address : |
3a, 105/26, Sawali, Erandwane, Pune 411 004, Maharashtra, India |
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Date of Birth/Age : |
07.08.1970 |
|
Date of Appointment : |
18.01.2002 |
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DIN No.: |
00114182 |
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|
|
|
Name : |
Mr. Amit Paul |
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Designation : |
Nominee Director |
|
Address : |
1703/04, Silver Oak, Raheja Willows, Akurli Road, Kandivali (E), Mumbai -400101, Maharashtra, India |
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Date of Birth/Age : |
08.12.1965 |
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Date of Appointment : |
10.11.2008 |
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DIN No.: |
00108348 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Khule |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Ranjit Vijay Jakkli |
|
45100 |
|
Anjali Shirish Bagal |
|
400 |
|
Deepali Brijesh Luthra |
|
700 |
|
Parimala Vijay Jakkli |
|
400 |
|
Sheetal Jayant Joshi |
|
10 |
|
Master Jakkli Ranjit Arya – Minor Through N/G Mr. Jakkli Vijay Ranjit |
|
3390 |
|
SIDBI Trustee Company Limited A/C SME Growth Fund, India |
|
16668 |
|
Total |
|
66668 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
SIDBI Trustee Company Limited A/C SME Growth Fund, India |
|
16,668 |
|
Total |
|
16,668 |
Equity Share Break up (Percentage of Total Equity)
As on 13.09.2014
|
Category |
Percentage |
|
Bodies corporate |
25.00 |
|
Directors or relatives of Directors |
75.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of medium and large power IDC Power and
rectifier equipment (High Voltage Rectifier) |
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|
|
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
160 (Approximately) |
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Bankers : |
Small Industries Development Bank of India 'Jeevan Shree' Gr. Fl. S. No. 1109, Plot No.488, Ganesh Khind Road, Shivaji Nagar, Pune - 411005, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B B S R and Company Chartered Accountants |
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Address : |
703, 7th Floor, Godrej Castlemaine, Next To Ruby Hall Clinic, Bund
Garden Road, Pune- 411001, Maharashtra, India |
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Tel. No.: |
91-20-30504000 |
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Fax No.: |
91-20-30501100 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFB4734C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiaries : |
Powercon Holdings AB |
CAPITAL STRUCTURE
As on 13.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70,000 |
Equity Shares |
Rs.100/- each |
Rs. 7.000 Million |
|
17,000 |
Preference Shares |
Rs.100/- each |
Rs. 1.700 Million |
|
|
Total |
|
Rs. 8.700
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
66,668 |
Equity Shares |
Rs.100/- each |
Rs. 6.667
Million |
|
16,668 |
Preference Shares |
Rs.100/- each |
Rs. 1.667
Million |
|
|
Total |
|
Rs. 8.334 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 |
8.334 |
8.334 |
8.334 |
|
(b) Reserves & Surplus |
455.885 |
428.841 |
426.692 |
|
(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) |
464.219 |
437.175 |
435.026 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
25.283 |
38.317 |
45.658 |
|
(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 |
3.963 |
3.219 |
4.833 |
|
Total Non-current
Liabilities (3) |
29.246 |
41.536 |
50.491 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
71.737 |
88.885 |
87.002 |
|
(b) Trade
payables |
111.313 |
103.416 |
130.408 |
|
(c) Other
current liabilities |
49.191 |
48.606 |
30.716 |
|
(d) Short-term provisions |
7.233 |
4.282 |
6.664 |
|
Total Current
Liabilities (4) |
239.474 |
245.189 |
254.790 |
|
|
|
|
|
|
TOTAL |
732.939 |
723.900 |
740.307 |
|
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|
|
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|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
23.585 |
27.476 |
31.265 |
|
(ii)
Intangible Assets |
0.503 |
0.549 |
0.113 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
1.016 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
377.914 |
377.914 |
377.914 |
|
(c) Deferred tax assets (net) |
7.848 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
18.185 |
14.215 |
21.358 |
|
(e) Other
Non-current assets |
0.193 |
4.058 |
0.312 |
|
Total Non-Current Assets |
428.228 |
424.212 |
431.978 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
73.927 |
82.261 |
110.009 |
|
(c) Trade
receivables |
132.707 |
135.178 |
110.488 |
|
(d) Cash and
cash equivalents |
22.131 |
6.170 |
11.498 |
|
(e)
Short-term loans and advances |
75.550 |
76.007 |
75.051 |
|
(f) Other
current assets |
0.396 |
0.072 |
1.283 |
|
Total
Current Assets |
304.711 |
299.688 |
308.329 |
|
|
|
|
|
|
TOTAL |
732.939 |
723.900 |
740.307 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
|
|
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|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
27.043 |
2.149 |
(69.945) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
324.50 |
25.79 |
(839.31) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
12.704 |
12.864 |
6.652 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.24 |
0.32 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.22 |
1.21 |
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 |
8.334 |
8.334 |
8.334 |
|
Reserves & Surplus |
426.692 |
428.841 |
455.885 |
|
Net
worth |
435.026 |
437.175 |
464.219 |
|
|
|
|
|
|
long-term borrowings |
45.658 |
38.317 |
25.283 |
|
Short term borrowings |
87.002 |
88.885 |
71.737 |
|
Current maturities of
long-term debts |
6.652 |
12.864 |
12.704 |
|
Total
borrowings |
139.312 |
140.066 |
109.724 |
|
Debt/Equity
ratio |
0.320 |
0.320 |
0.236 |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Deposits from shareholder directors |
7.300 |
7.300 |
|
Short-term
borrowings |
|
|
|
Deposits from shareholder |
0.000 |
10.000 |
|
Total |
7.300 |
17.300 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10310874 |
07/03/2012 * |
50,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
'JEEVAN SHREE' GR. FL. S. NO. 1109, PLOT NO.488, |
B33942764 |
|
2 |
10226776 |
08/05/2010 |
489,700.00 |
BANK OF INDIA CORPORATE BANKING BRANCH |
1162/6 SHIVAJI NAGAR, UNIVERSITY ROAD, PUNE, Maharashtra - 411005,
INDIA |
A88579545 |
|
3 |
10220598 |
20/12/2010 * |
12,221,678.00 |
BANK OF INDIA |
1162/6 SHIVAJI NAGAR, UNIVERSITY ROAD, PUNE, Maharashtra - 411004,
INDIA |
B02861151 |
|
4 |
10108719 |
20/12/2010 * |
125,200,000.00 |
BANK OF INDIA |
1162/6 SHIVAJI NAGAR, UNIVERSITY ROAD, PUNE, Maharashtra - 411004,
INDIA |
B02860393 |
FIXED ASSETS
Tangible Assets
- Freehold land
- Buildings
- Plant and machinery
- Office equipment
- Computers
- Vehicle
- Furniture and fixture
Intangible Assets
- Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
|
|
1 |
Rs.98.16 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
|
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.