MIRA INFORM REPORT

 

 

Report No. :

347774

Report Date :

31.10.2015

 

IDENTIFICATION DETAILS

 

Name :

SANTOSHI BARRIER FILM INDIA PRIVATE LIMITED

 

 

Registered Office :

Plot No. D-51, Butibori Industrial Area, Village Gangapur, Taluka Hingna, Nagpur-441122, Maharashtra 

Tel. No.:

91-712-3224255

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

07.08.2009

 

 

Com. Reg. No.:

11-214185

 

 

Capital Investment / Paid-up Capital :

Rs.34.050 Million

 

 

CIN No.:

[Company Identification No.]

U25203MH2009PTC214185

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

NGPS10647A

 

 

PAN No.:

[Permanent Account No.]

AANCS3213P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of multilayer co-extruded plastic filmi a packaging product.

 

 

No. of Employees :

40  (Approximately) 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 190000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 2009 having moderate track record.

 

The company has shown significant growth in its turnover and profit during FY 2014

 

However, the rating is constrained by huge borrowings recorded by the company which seems to be increasing over years and may further act as a threat to the liquidity position of the company.

 

The rating further takes into account highly competitive flexible packaging material industry.

 

However} trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct.

 

The company can be considered for business dealings 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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term bank facilities: B+

Rating Explanation

High risk of default.

Date

25.08.2014

 

Rating Agency Name

CARE

Rating

Short term bank facilities: A4

Rating Explanation

Minimal degree of safety and carry very high credit risk.

Date

25.08.2014

 

 

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 31-03-2015.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Madan Keshwrao Atkare

Designation :

Director

Contact No.:

91-9765596000

Date :

30.10.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No. D-51, Butibori Industrial Area, Village Gangapur, Taluka Hingna, Nagpur-441122, Maharashtra, India

Tel. No.:

91-712-3224255

Mobile No.:

91-9765596000 (Mr. Madan Keshwrao Atkare)

Fax No.:

Not Available

E-Mail :

santoshibfipl@yahoo.com

Website :

www.santoshipackaging.com

Location :

Owned

 

 

Corporate Office :

403, Royal Park, Dhanukar Wadi, Kandivali (West), Mumbai, Maharashtra 

Tel. No.:

91-22-29671024

 

 

DIRECTORS

 

AS ON 08.09.2014

 

Name :

Mr. Dinesh Keshawrao Atkare

Designation :

Director

Address :

Muranba Post-Kinkhed Taluka, Murtijapur, Akola - 444107, Maharashtra, India

Date of Birth/Age :

10.07.1970

Date of Appointment :

07.08.2009

DIN No.:

02106970

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U72900MH2008PTC185841

PURVAJ SOLVEX (INDIA) PRIVATE LIMITED

Director

14/08/2008

14/08/2008

-

Active

NO

2

U25203MH2009PTC214185

SANTOSHI BARRIER FILM INDIA PRIVATE LIMITED

Director

7/8/2009

7/8/2009

-

Active

NO

 

 

Name :

Mr. Madan Keshwrao Atkare

Designation :

Director

Address :

Muranba, Post-Kinkhed, Taluka: Murtijapur, District Akola, Akola - 444107, Maharashtra, India

Date of Birth/Age :

06.07.1968

Date of Appointment :

07.08.2009

DIN No.:

02125106

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U72900MH2008PTC185841

PURVAJ SOLVEX (INDIA) PRIVATE LIMITED

Director

14/08/2008

14/08/2008

-

Active

NO

2

U25203MH2009PTC214185

SANTOSHI BARRIER FILM INDIA PRIVATE LIMITED

Director

7/8/2009

7/8/2009

-

Active

NO

 

 

Name :

Mr. Dipali Dinesh Atkare

Designation :

Additional director

Address :

C/o.Santoshi Polymers, Survey#372/8 Hingraj Industrial Estate Near, Water Supply Scheme Dabhel, Daman, 396210, Daman and Diu, India

Date of Appointment :

02.02.2015

DIN No.:

02107486

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U72900MH2008PTC185841

PURVAJ SOLVEX (INDIA) PRIVATE LIMITED

Director

14/08/2008

14/08/2008

-

Active

NO

2

U25203MH2009PTC214185

SANTOSHI BARRIER FILM INDIA PRIVATE LIMITED

Additional director

2/2/2015

2/2/2015

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 08.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Dinesh Keshawrao Atkare

340500

10.00

Madan Keshwrao Atkare

1532250

45.00

Dipali Dinesh Atkare

1532250

45.00

Total

3405000

100.00

 

 

AS ON 31.03.2015

 

Names of Allottees

 

No. of Shares

Dinesh Keshawrao Atkare

 

500000

Total

 

500000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 08.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of multilayer co-extruded plastic filmi a packaging product.

 

 

Products :

--

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

Nigeria

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Singapore
  • Taiwan

 

 

Terms :

 

Selling :

L/C and Cheque

 

 

Purchasing :

L/C and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :
  • Adlti Services
  • Arihant Corporation
  • ARL Roadlines
  • Asha Trading Co.
  • Ashtavinayak Plastic Industries
  • Associated Road Carriers Limited
  • Banthia Damani and Associates
  • Fibro Plast Corporation
  • Foam Plast
  • Gel Polypack

 

 

Reference :

Abhinav Logistics

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Retailers and End Users

 

  • Jerjn Polybags
  • Swethin Food Products
  • Alisha Gruh Udyog
  • Galaxy Colour Graphics
  • Vee Dee Enterprises
  • Ruchi Soya Industries Limited
  • S.S.Gruh Udyog
  • Krishna Global Impex
  • Deshmukh Products
  • Swayog Sales Corporation
  • Shree Trading Co.
  • Shree Puja Industries

 

Reference :

Shreeji Packaging

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

40 (Approximately)

 

 

Bankers :

State Bank of India, Spl. Commercialised Branch, Vapi - 396195, Gujarat, India

 

Banker Name

Bank of Baroda

Branch Address

Daman Branch

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Bank of Baroda-Car Loan

(Secured against hypothecation of car)

1.577

0.000

Bank of Baroda - Term Loan

(Secured Against Mortgages on Factory Land and Building and hypothecation of Plant and Machinery)

25.099

0.000

HDFC Bank Limited-Car Loan

(Secured against hypothecation of car)

0.293

0.658

HDFC Bank Limited -Truck Loan

(Secured against hypothecation of Truck)

0.232

0.531

HDFC Bank Limited.(Innova Car) Loan

(Secured against hypothecation of car)

0.197

0.634

SBI,VAPI- Term Loan

(Secured Against Mortgages on Factory Land and Building and hypothecation of Plant and Machinery)

0.000

36.956

SHORT TERM BORROWING

 

 

Bank of Baroda -CC A/C - (Secured Against Hypothecation of Entire Present and Future Current Assets.)

80.725

0.000

State Bank of India- CC A/C - - (Secured Against Hypothecation of Entire Present and Future Current Assets.)

0.000

23.560

Total

108.123

62.339

 

Note:

 

Sr No.

Nature

Repayment terms

1

HDFC Bank Car loan-1&2

Repayable in 60 and 35 monthly installments of Rs 0.038 Million and Rs. 0.041 Million from January 2011 and September 2012 and carrying interest rate of 10.06% P A and 11.69% PA maturing on 5th November 2015 and 7th August 2015.

2

HDFC Bank Truck loan

Repayable in 47 monthly installments of Rs 0.031 Million and last installment of Rs. 0.031 Million from January 2012 carrying interest rate of11.54% PA and maturity on 1st November 2015  

3

Bank of Baroda (Vehicle loan)

Repayable in 60 monthly installments of Rs 0.037 Million plus interest to be paid as and when debited form December 2013 and carrying interest rate @ 13.15% Pa maturing in November 2018.

4

Bank of Baroda (Term loan)

Repayable in 60 monthly installments of Rs 1.167 Million and 40th installment of Rs. 0.205 Million carrying interest rate of @ 13.25% p.a and maturing in January 2017

 

Auditors :

 

Name :

Banthia Damani and Associates

Chartered Accountants

Address :

F019, Amarjyoti Palace, Wardha Road, Dhantoli, Nagpur – 440010, Maharashtra, India

Tel. No.:

91-22-2439300

PAN N Income-tax PAN of auditor or auditor's firm :

AAGFB7463E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates:

Santoshi Polymers

 

 

Other related party :

Laxmi Manufacturing and  Trading Co.

 

 

 

CAPITAL STRUCTURE

 

AS ON 08.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4000000

Equity Shares

Rs.10/- each

Rs. 40.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3905000

Equity Shares

Rs.10/- each

Rs. 39.050 Million

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4000000

Equity Shares

Rs.10/- each

Rs. 40.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3405000

Equity Shares

Rs.10/- each

Rs. 34.050 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

34.050

17.451

11.451

(b) Reserves & Surplus

33.636

28.711

19.331

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

16.600

0.000

Total Shareholders’ Funds (1) + (2)

67.686

62.762

30.782

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

85.950

70.282

71.262

(b) Deferred tax liabilities (Net)

9.185

6.939

0.937

(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)

95.135

77.221

72.199

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

80.725

23.560

21.816

(b) Trade payables

37.641

33.647

7.778

(c) Other current liabilities

22.764

19.654

18.514

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

141.130

76.861

48.108

 

 

 

 

TOTAL

303.951

216.844

151.089

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

114.772

111.823

109.647

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1.300

0.946

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

1.528

1.428

3.132

(e) Other Non-current assets

0.014

0.022

0.029

Total Non-Current Assets

117.614

114.219

112.808

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

68.052

41.821

10.134

(c) Trade receivables

103.220

51.062

14.416

(d) Cash and cash equivalents

6.611

0.612

3.986

(e) Short-term loans and advances

8.454

9.130

9.745

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

186.337

102.625

38.281

 

 

 

 

TOTAL

303.951

216.844

151.089

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

282.698

120.041

34.957

 

Other Income

0.002

0.410

0.386

 

TOTAL (A)

282.700

120.451

35.343

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

227.229

85.000

29.831

 

Stores and Spare consumed

8.366

4.032

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(3.002)

(5.807)

 

 

Employees benefits expense

3.013

3.221

 

 

Other expenses

17.515

12.318

 

 

TOTAL (B)

253.121

98.764

29.831

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

29.579

21.687

5.512

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

14.861

12.109

5.467

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

14.718

9.578

0.045

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

5.759

5.331

2.478

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

8.959

4.247

(2.433)

 

 

 

 

 

Less

TAX (H)

4.029

3.498

0.937

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

4.930

0.749

(3.370)

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

3.126

5.374

8.319

 

Capital Goods

0.000

0.000

1.058

 

TOTAL IMPORTS

3.126

5.374

9.377

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.45

NA

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

15.604

15.085

14.595

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.74

0.62

-9.64

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

10.46

18.07

15.77

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.96

1.97

-1.61

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.07

-0.08

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.69

1.74

3.50

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.32

1.34

0.80

 

 

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

11.451

17.451

34.050

Reserves & Surplus

19.331

28.711

33.636

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

16.600

0.000

Net worth

30.782

62.762

67.686

 

 

 

 

long-term borrowings

71.262

70.282

85.950

Short term borrowings

21.816

23.560

80.725

Current maturities of long-term debts

14.595

15.085

15.604

Total borrowings

107.673

108.927

182.279

Debt/Equity ratio

3.498

1.736

2.693

 

 

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

34.957

120.041

282.698

 

 

243.396

135.501

 

 

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

34.957

120.041

282.698

Profit

(3.370)

0.749

4.930

 

(9.64%)

0.62%

1.74%

 

 

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

Yes

19

Major customers

Yes

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

Yes

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

 

 

NOTE: Registered office of the company has been shifted from Plot No D - 51, Butibori Industrial Area, Village Gangapur, Taluka Hingna, Nagpur -441104, Maharashtra, India to the present address w.e.f. 10.03.2011

 

FINANCIAL PERFORMANCE:

 

Although the previous financial year ran at a Net Profit of Rs. 0.749 Million, the Company displayed an extra-ordinary performance in this current financial year with a Net Profit of Rs, 4.930 Million, Such impressive results testify to the remarkable Corporate Strategy, which has assisted your Company's revival. In the years to come, the company promises to exhibit superior developments and greater profits

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and Advances From Relatives

37.552

31.503

Long Term Borrowings- Others

21.000

0.000

Total

58.552

31.503

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10559415

30/03/2015

22,500,000.00

BANK OF BARODA

S.M.E. DAMAN BRANCH, IST FLOOR, CENTER POINT,, SO
MNATH JUNCTION,DABHEL, DAMAN, DAMAN AND DIU - 3962
10, INDIA

C48516520

2

10557420

27/11/2014

176,038,000.00

BANK OF BARODA

SITABULDI BRANCH, NAGPUR, MAHARASHTRA - 440010, IN
DIA

C46949590

3

10523006

28/09/2014

176,038,000.00

BANK OF BARODA

S.M.E. DAMAN BRANCH, IST FLOOR, CENTER POINT,, SO
MNATH JUNCTION,DABHEL, DAMAN, DAMAN AND DIU - 3962
10, INDIA

C23728199

4

10446727

06/09/2013

120,705,000.00

BANK OF BARODA

S.M.E. DAMAN BRANCH, IST FLOOR, CENTER POINT,, SO
MNATH JUNCTION,DABHEL, DAMAN, DAMAN AND DIU - 3962
10, INDIA

B83796938

5

10445680

27/09/2014 *

176,038,000.00

BANK OF BARODA

S.M.E. DAMAN BRANCH, IST FLOOR, CENTER POINT,, SO
MNATH JUNCTION,DABHEL, DAMAN, DAMAN AND DIU - 3962
10, INDIA

C23729825

 

* Date of charge modification

 

FIXED ASSETS

 

  • Computer
  • Furniture and Fixture
  • Leasehold Land
  • Vehicle Motor
  • Office Equipments
  • Factory Building
  • Tools and Parts
  • Plant and Machinery
  • Electric Installation
  • Trucks Vehicle

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.65.22

UK Pound

1

Rs.99.93

Euro

1

Rs.71.67

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--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

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

 

29

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.