MIRA INFORM REPORT

 

 

Report No. :

349548

Report Date :

14.11.2015

 

IDENTIFICATION DETAILS

 

Name :

CRESCENT ORGANICS PRIVATE LIMITED

 

 

Registered Office :

Windsor, 2nd Floor, CST Road, Kalina, Santacruz (East), Mumbai - 400098, Maharashtra

Tel. No.:

91-22-67033555

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.02.1991

 

 

Com. Reg. No.:

11-060197

 

 

Capital Investment / Paid-up Capital :

Rs. 78.820 Million

 

 

CIN No.:

[Company Identification No.]

U99999MH1991PTC060197

 

 

IEC No.:

0392029316

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

mumc10295F

 

 

PAN No.:

[Permanent Account No.]

aaacc1690D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in indenting, trading, import and export of organic and inorganic chemicals like Methanol, Acetic acid, Propylene Glycol, Toluene, Styrene Monomer among others.

 

 

No. of Employees :

Information declined by the Management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1991, having satisfactory track.

 

For the year 2014, the company has achieved decent sales turnover, however reported low profit margin. It has been successful in wiping off its previous year loss.

 

The company possesses sound networth base market by decent cash accruals and adequate liquidity position.

 

Trade relations are fair. Business is active. Payments are slow but correct.

 

The company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

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

CRISIL

Rating

Long term rating : BB+

Rating Explanation

Inadequate credit quality and high risk

Date

24.03.2015

 

 

Rating Agency Name

CRISIL

Rating

Short term rating : A4+

Rating Explanation

Minimal degree of safety and very high credit risk 

Date

24.03.2015

 

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 DENIED BY

 

Name :

Mr. Dinesh Maheshwari

Designation :

Chief Finance Officer

Contact No.:

91-22-67033555

Date :

09.11.2015

 

           

LOCATIONS

 

Registered / Head Office :

Windsor, 2nd Floor, CST Road, Kalina, Santacruz (East), Mumbai - 400098, Maharashtra, India

Tel. No.:

91-22-67033555

Fax No.:

91-22-67033556

Mobile No.:

91-9594462384 (Mr. Ketan Tanha)

E-Mail :

ketan@crescentindia.com 

info@crescentindia.com

dinesh@crescentindia.com

Website :

www.crescentindia.com 

 

 

Branch Office:

Unit No. 5-E, Offtel Tower, R C Dutt Road, Vadodara - 390005, Gujarat, India

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Gunvantrai Dipchand Shah

Designation :

Director    

Address :

Deep Ashish, 372 A and B, Shantabai Amre Marg, Off 9th Road, Chembur, Mumbai – 400071, Maharashtra, India 

Date of Birth/Age :

01.05.1939

Date of Appointment :

01.01.1992

DIN No.:

00056111

PAN No.:

AAIPS5085R

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

U99999MH1991PTC060197

CRESCENT ORGANICS PRIVATE LIMITED

Director

01/01/1992

01/01/1992

-

Active

NO

2

U25199MH2011PTC216932

CRESCENT INNOVATIVE PACKAGING PRIVATE LIMITED

Director

02/05/2011

02/05/2011

-

Active

NO

3

U40104MH2014PTC256798

CRESCENT POWER SOLUTIONS PRIVATE LIMITED

Director

01/08/2014

01/08/2014

-

Active

NO

4

U41000MH2015PTC268610

CRESCENT WATER SOLUTIONS PRIVATE LIMITED

Director

22/09/2015

22/09/2015

-

Active

NO

 

 

 

 

Name :

Mr. Ashit Gunvantrai Shah

Designation :

Director    

Address :

Deep Ashish, 372 A and B, Shantabai Amre Marg, Off 9th Road, Chembur, Mumbai – 400071, Maharashtra, India 

Date of Birth/Age :

05.01.1963

Date of Appointment :

01.01.1992

DIN No.:

00056229

PAN No.:

AAAHA1926K

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

U99999MH1991PTC060197

CRESCENT ORGANICS PRIVATE LIMITED

Director

01/01/1992

01/01/1992

-

Active

NO

2

U25199MH2011PTC216932

CRESCENT INNOVATIVE PACKAGING PRIVATE LIMITED

Director

02/05/2011

02/05/2011

-

Active

NO

3

U40104MH2014PTC256798

CRESCENT POWER SOLUTIONS PRIVATE LIMITED

Director

01/08/2014

01/08/2014

-

Active

NO

 

 

 

Name :

Mr. Dilip Pranlal Sheth

Designation :

Director    

Address :

1201/1202, Sai Vaibhav, R B Mehta Marg, jhulelal Chowk, Ghatkopar (East), Mumbai – 400077, Maharashtra, India 

Date of Birth/Age :

04.04.1962

Date of Appointment :

30.09.2009

DIN No.:

00056982

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

U24299MH2001PTC131771

RKG PETROCHEM PRIVATE LIMITED

Director

27/04/2001

27/04/2001

-

Amalgamated

NO

2

U24100MH2004PTC143905

CRESCENT CHEMSOL PRIVATE LIMITED

Director

30/09/2008

01/04/2008

-

Amalgamated

NO

3

U99999MH1991PTC060197

CRESCENT ORGANICS PRIVATE LIMITED

Director

30/09/2009

01/04/2009

-

Active

NO

 

 

 

Name :

Mr. Aditya Ashit Shah

Designation :

Director

Address :

Deep Ashish, 372 A and B, Shantabhai Amre Marg, Off 9th Road, Chembur, Mumbai - 400071, Maharashtra, India

Date of Birth/Age :

17.11.1989

Date of Appointment :

29.09.2012

DIN No.:

03343078

PAN No.:

BIEPS5021G

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

U24297MH2010PTC203567

ASIAN SOLVOCHEM PRIVATE LIMITED

Director

01/08/2010

01/08/2010

02/04/2012

Active

NO

2

U99999MH1991PTC060197

CRESCENT ORGANICS PRIVATE LIMITED

Director

29/09/2012

02/04/2012

-

Active

NO

3

U41000MH2015PTC268610

CRESCENT WATER SOLUTIONS PRIVATE LIMITED

Director

22/09/2015

22/09/2015

-

Active

NO

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Dinesh Maheshwari

Designation :

Chief Finance Officer

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

G D Shah

 

250665

Kokila G Shah

 

12489

Ashit G Shah

 

107508

Kavita A Shah

 

12489

Aditya A Shah

 

151860

Anushka A Shah

 

36162

G D Shah HUF

 

77

 A G Shah HUF

 

66494

Dilip P Sheth

 

17923

Sapna D Sheth

 

26833

Abhishek D Sheth

 

6720

Sejal N Shah

 

33575

Ayush N Shah

 

6250

Anaisha N Shah

 

7100

Nitin M Shah (HUF)

 

690

Mukesh I Doshi

 

35719

Aarti M Doshi

 

4337

Pratik I Doshi

 

23

Pooja M Doshi

 

15

Ranjan I Doshi

 

10615

Mukesh I Doshi (HUF)

 

653

 

 

 

Total

 

788197

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

 

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in indenting, trading, import and export of organic and inorganic chemicals like Methanol, Acetic acid, Propylene Glycol, Toluene, Styrene Monomer among others.

 

 

Products :

 

Item Code No.

Product Description

99611719

Basic Industrial Chemicals

and Synthetic Resins

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Country:
  • Middle East
  • Africa.

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

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 :

Reference :

Not Divulged

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 :

Information declined by the Management.

 

 

Bankers :
  • Union Bank Of India, Sion Branch, Sunita Apartment, 169/B, Sion (East), Mumbai- 400022, Maharashtra, India

 

Bank Name

Standard Chartered Bank

Branch

90, M G Road, Fort, Mumbai- 400001 , Maharashtra , India

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

 

 

Rupee term loans from banks

0.664

0.612

 

 

 

SHORT TERM BORROWING

 

 

Loans repayable on demand

454.021

465.998

Total

454.685

466.61

 

 

 

Auditors :

 

Name :

Chhajed and Doshi

Chartered Accountants

Address :

5/6, Western Prabhadevi Co-operative Housing Society, Veer Savarkar Marg , Prabhadevi, Mumbai – 400025, Maharashtra, India

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

ACUPC1012C

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries :
  • Crescent Innovative Packaging Private Limited, India

CIN No.:U25199MH2011PTC216932

  • Kemsol Limited BVI

 

 

Associates
  • Crescent Chemicals
  • Asian Solvochem Private Limited
  • G. D. Shah Charitable Trust

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1350000

Equity Shares

Rs.100/- each

Rs. 135.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

788197

Equity Shares

Rs.100/- each

Rs. 78.820 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

78.820

78.820

78.820

(b) Reserves & Surplus

392.864

390.264

406.888

(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)

471.684

469.084

485.708

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.664

0.612

3.438

(b) Deferred tax liabilities (Net)

2.525

0.000

2.564

(c) Other long term liabilities

3.299

3.090

2.825

(d) long-term provisions

8.539

3.685

6.851

Total Non-current Liabilities (3)

15.027

7.387

15.678

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

509.361

521.638

1193.968

(b) Trade payables

917.557

796.448

662.129

(c) Other current liabilities

60.708

42.077

44.162

(d) Short-term provisions

1.046

0.980

0.784

Total Current Liabilities (4)

1488.672

1361.143

1901.043

 

 

 

 

TOTAL

1975.383

1837.614

2402.429

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

84.050

90.556

97.311

(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

173.519

129.608

154.390

(c) Deferred tax assets (net)

0.000

5.169

0.000

(d)  Long-term Loan and Advances

11.976

12.716

7.373

(e) Other Non-current assets

0.204

0.163

 

Total Non-Current Assets

269.749

238.212

259.074

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

9.280

11.310

24.457

(b) Inventories

315.541

717.633

241.233

(c) Trade receivables

1016.963

568.840

950.979

(d) Cash and cash equivalents

136.706

108.706

891.137

(e) Short-term loans and advances

227.130

192.903

35.453

(f) Other current assets

0.014

0.010

0.096

Total Current Assets

1705.634

1599.402

2143.355

 

 

 

 

TOTAL

1975.383

1837.614

2402.429

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

TOTAL TURNOVER

4162.475

2727.451

3880.053

 

 

 

 

 

TOTAL EXPENSES

4138.250

2815.940

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

16.755

(22.758)

62.588

 

 

 

 

 

Less

TAX

14.155

(6.134)

14.878

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

2.600

(16.624)

47.710

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

15.078

31.961

102.114

 

TOTAL EARNINGS

15.078

31.961

102.114

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

3.29

(21.09)

94.78

 

 

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

Net cash flows from (used in) operations

195.200

(13.015)

217.293

Net cash flow from operating activity

127.903

(152.119)

110.877

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Turnover)

(%)

0.06

(0.61)

1.93

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.93

(1.34)

2.78

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.04

(0.05)

0.13

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.08

1.12

2.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.15

1.18

1.13

 

 

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

78.820

78.820

78.820

Reserves & Surplus

406.888

390.264

392.864

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

485.708

469.084

471.684

 

 

 

 

long-term borrowings

3.438

0.612

0.664

Short term borrowings

1193.968

521.638

509.361

Current maturities of long-term debts

4.603

2.826

0.945

Total borrowings

1202.009

525.076

510.970

Debt/Equity ratio

2.475

1.119

1.083

 

 

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)

Turnover

3880.053

2727.451

4162.475

 

 

(29.706)

52.614

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Turnover

3880.053

2727.451

4162.475

Profit

47.710

(16.624)

2.600

 

1.23%

-0.61%

0.06%

 

 

 

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

Yes

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

No

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

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

CORPORATE INFORMATION

1.1 "Crescent Organics Pvt. Ltd. (COPL) (A company belonging to Crescent Group) was incorporated in 1991.  The company is engaged in indenting, trading, import and export of organic and inorganic chemicals like Methanol, Acetic acid, Propylene Glycol, Toluene, Styrene Monomer among others. The company has an export presence in Middle East and Africa. The Company has one subsidiary Kemsol Ltd in UAE and one subsidary Cresent Innovative Packaging Pvt. Ltd. in India, which is engaged into manufacturing of Box Bottom Welded Bags.

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Loans and advances from others

55.340

55.640

Total

55.340

55.640

 

 

 

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10265990

21/01/2011

620,000,000.00

STANDARD CHARTERED BANK

90, M G ROAD, FORT, MUMBAI- 400001 
, MAHARASHTRA, INDIA

B05183207

2

10265141

29/05/2014 *

2,400,000,000.00

UNION BANK OF INDIA

SION BRANCH, SUNITA APARTMENT,, 169/B, SION (EAST), MUMBAI- 400022, MAHARASHTRA, INDIA

C11399607

3

10266010

29/05/2014 *

870,000,000.00

STANDARD CHARTERED BANK

CRESCENZO, 3A/F, PLOT NO. C-38 And39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI - 400051, MAHARASHTRA, INDIA

C16626236

4

10164508

21/01/2011 *

50,000,000.00

UNION BANK OF INDIA

SION BRANCH, SUNITA APARTMENTS,169/B, SION (EAST), MUMBAI- 400022, MAHARASHTRA, INDIA

B05251798

5

10164509

04/02/2011 *

50,000,000.00

UNION BANK OF INDIA

SION BRANCH, SUNITA APARTMENTS, 169/B, SION (EAST), MUMBAI- 400022, MAHARASHTRA, INDIA

B05254222

6

10164510

01/12/2013 *

250,000,000.00

UNION BANK OF INDIA

SION BRANCH, SUNITA APARTMENT,, 169/B, SION (EAST), MUMBAI- 400022, MAHARASHTRA, INDIA

C11397965

7

10163690

29/05/2014 *

300,000,000.00

STANDARD CHARTERED BANK

CRESCENZO, 3A/F, PLOT NO. C-38 & 39, G BLOCK, BAN 
DRA KURLA COMPLEX, BANDRA EAST, MUMBAI- 400051, MAHARASHTRA, INDIA

C16622631

8

10159252

25/05/2012 *

1,850,000,000.00

UNION BANK OF INDIA

SION BRANCH, SUNITA APARTMENT,, 169/B, SION (EAST 
), MUMBAI- 400022, MAHARASHTRA, INDIA

B41322132

9

10093888

24/03/2008

160,000,000.00

STANDARD CHARTERED BANK

90, M G ROAD, FORT, MUMBAI- 400001 
, MAHARASHTRA, INDIA

A34957696

10

90144493

12/05/2003

22,300,000.00

UNION BANK OF INDIA

SION BRANCH, SUNITA APARTMENTS, MUMBAI - 400022, MAHARASHTRA, INDIA

-

 

 

FIXED ASSETS

  • Land
  • Office building
  • Plant and Machinery
  • Office equipments
  • Computers
  • Furniture and Fixtures
  • Motor vehicles

 

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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                                       None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.33

UK Pound

1

Rs.100.55

Euro

1

Rs.71.26

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

AMT

 

 

Report Prepared by :

RKI

 

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

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

44

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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.