MIRA INFORM REPORT
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Report No. : |
350531 |
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Report Date : |
23.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
BT GLOBAL COMMUNICATIONS INDIA PRIVATE LIMITED (w.e.f. 21.07.2007) |
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Formerly Known
As : |
I2I ENTERPRISE PRIVATE LIMITED (w.e.f. 14.12.2006) I2I ENTERPRISE LIMITED |
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Registered
Office : |
11th Floor, Eros Corporate Tower, Opposite International
Trade Tower, Nehru Place, Delhi – 110019 |
|
Tel. No.: |
91-11-47811251 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 ([Partial) |
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Date of
Incorporation : |
08.10.1992 |
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Com. Reg. No.: |
11-280617 |
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Capital
Investment / Paid-up Capital : |
Rs.112.484 Million |
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CIN No.: [Company Identification
No.] |
U72900DL1992PTC280617 |
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IEC No.: |
0393016684 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACG1534A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing telecom services under the ILD, ISP and Voice Mail / Audiotex Services licenses. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “BT Telecom India Private Limited”. It is an established company incorporated in the year 1992 having good
track. Financial position of the company is sound. Fundamentals of the
company are strong and healthy. The ratings further take into consideration long established track
record, rich experience of its promoters and strong operating efficiency of
the company. The rating also derives strength from its holding company and its
experienced management. Trade relations are reported as fair. Business is active. Payments terms
are reported as regular and as per commitment. In view of long track record, sound financial base and strong holding
support, the company can be considered normal 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 |
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
31-03-2015.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel No.: 91-22-42430000)
LOCATIONS
|
Registered Office : |
11th Floor, Eros Corporate Tower, Opposite International
Trade Tower, Nehru Place, Delhi – 110019, India |
|
Tel. No.: |
91-11-47811251 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Branch Office: |
502, 5th Floor, Raheja Titanium-2 Off. Western Express
Highway Jogeshwari, Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-42430000 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Pawan Kumar Khandelwal |
|
Designation : |
Director |
|
Address : |
Flat # 0763, ATS Green Village, Sector – 93A, Noida - 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
24.11.1973 |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
01237758 |
|
|
|
|
Name : |
Mr. Sudhir Narang |
|
Designation : |
Director |
|
Address : |
10, Vikas Marg, Defence Enclave, Delhi - 110092, India |
|
Date of Birth/Age : |
18.08.1964 |
|
Date of Appointment : |
15.01.2008 |
|
DIN No.: |
02015024 |
|
|
|
|
Name : |
Mr. Shyam Hardwerilal Mittal |
|
Designation : |
Director |
|
Address : |
B6/41, Green Fields, Mahakali, Caves Road, Andheri East, Mumbai, 400093, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1961 |
|
Date of Appointment : |
23.12.2008 |
|
DIN No.: |
02547644 |
KEY EXECUTIVES
|
Name : |
Ms. Namrata Panjwani |
|
Designation : |
Secretary |
|
Address : |
Ganga Niwas, F- 323, Sarita Vihar, New Delhi - 110076, INDIA |
|
Date of Birth/Age : |
15.01.1980 |
|
Date of Appointment : |
28.12.2009 |
|
PAN No.: |
ALAPP4812C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
BT Telecom India Private Limited, India |
|
22496881 |
|
Sudhir Narang |
|
1 |
|
Total |
|
22496882 |
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing telecom services under the ILD, ISP and Voice Mail / Audiotex Services licenses. |
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Products/ Servives : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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Name : |
Price Waterhouse and Company, Bangalore LLP(formerly Price Waterhouse and Company Bangalore ) Chartered Accountants |
|
Address : |
Building 8, 7th and 8th Floor, Tower - B, DLF Cyber City, Gurgaon – 122001, Haryana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFP3641G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
BT Telecom India Private Limited, India (U64201DL2005PTC140907) |
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Ultimate Holding
Company |
Bt Group Plc. ('Bt Group') |
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Enterprises which are owned, or have significant influence of or are partners with key management personnel and their relatives: |
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Entities Under
Common Control: |
Communications Networking Services (UK) |
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Other Related
Parties: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.5/- each |
Rs.250.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22496882 |
Equity Shares |
Rs.5/- each |
Rs.112.484
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
PARTIAL DETAILS
Value addition and distribution of earnings
|
Particulars |
31.03.2015 |
|
Gross revenue from operations of company |
7350.885 |
|
Excise and other duties of company |
0.000 |
|
Net revenue from operations of company for value addition |
7350.845 |
|
Export incentives of company |
0.000 |
|
Adjustments in work-in-progress and finished stocks of company |
0.000 |
|
Cost of materials consumed of company |
0.000 |
|
Cost of process materials or chemicals of company |
0.000 |
|
Cost of stores and spares consumed of company |
0.000 |
|
Cost of utilities of company |
7.260 |
|
Cost of other bought out inputs of company |
6354.823 |
|
Total cost of bought out inputs of company |
6362.089 |
|
Value added of company |
988.796 |
|
Other incomes of company |
348.443 |
|
Extraordinary income |
0.000 |
|
Earnings available for distribution |
1337.239 |
|
To employees as salaries, wages, retirement benefits and others |
284.783 |
|
To shareholders as dividend |
0.000 |
|
Funds retained by company |
790.684 |
|
To government as taxes |
246.402 |
|
Extraordinary expenses |
0.000 |
|
Other distribution of earnings |
15.370 |
|
Total distribution of earnings |
1337.239 |
Financial position
|
Particulars |
31.03.2015 |
|
Share capital |
112.484 |
|
Reserves and surplus |
3968.767 |
|
Long-term borrowings |
0.000 |
|
Gross fixed assets |
867.047 |
|
Net fixed assets |
184.527 |
|
Current assets |
5772.968 |
|
Current liabilities |
2896.289 |
|
Net current assets |
2876.679 |
|
Capital employed |
2855.830 |
|
Net worth |
4081.251 |
|
Value added of company |
988.796 |
|
Net revenue from operations of company |
7699.328 |
|
Profit before tax |
718.028 |
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 |
112.484 |
112.484 |
112.484 |
|
(b) Reserves & Surplus |
3250.739 |
2698.459 |
2281.344 |
|
(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) |
3363.223 |
2810.943 |
2393.828 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
34.384 |
29.985 |
24.890 |
|
Total
Non-current Liabilities (3) |
34.384 |
29.985 |
24.890 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
902.930 |
139.379 |
6169.908 |
|
(c) Other current liabilities |
354.838 |
438.100 |
385.060 |
|
(d) Short-term provisions |
2.409 |
3.607 |
2.117 |
|
Total
Current Liabilities (4) |
1260.177 |
581.086 |
6557.085 |
|
|
|
|
|
|
TOTAL |
4657.784 |
3422.014 |
8975.803 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
148.760 |
55.126 |
86.133 |
|
(ii) Intangible Assets |
35.337 |
33.141 |
35.641 |
|
(iii) Capital work-in-progress |
12.106 |
79.499 |
3.372 |
|
(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) |
74.947 |
74.880 |
74.491 |
|
(d) Long-term Loan and Advances |
659.665 |
1380.987 |
594.808 |
|
(e) Other Non-current assets |
0.434 |
0.734 |
0.375 |
|
Total
Non-Current Assets |
931.249 |
1624.367 |
794.820 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
793.952 |
757.011 |
7086.085 |
|
(d) Cash and cash equivalents |
985.754 |
464.905 |
939.175 |
|
(e) Short-term loans and
advances |
1648.382 |
381.616 |
10.909 |
|
(f) Other current assets |
298.447 |
194.115 |
144.814 |
|
Total
Current Assets |
3726.535 |
1797.647 |
8180.983 |
|
|
|
|
|
|
TOTAL |
4657.784 |
3422.014 |
8975.803 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
TOTAL
INCOME |
6878.500 |
6542.100 |
5560.800 |
|
|
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|
EXPENSES |
|
|
|
|
|
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TOTAL
|
6147.200 |
5938.000 |
5023.800 |
|
|
|
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|
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|
|
PROFIT/ (LOSS)
BEFORE TAX |
743.000 |
604.100 |
358.100 |
|
|
|
|
|
|
|
TAX |
190.700 |
146.500 |
96.200 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
552.300 |
457.600 |
261.900 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
24.55 |
20.34 |
11.64 |
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 |
1212.461 |
417.858 |
752.722 |
|
Net cash flow from operating activity |
872.648 |
352.740 |
573.420 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.03 |
6.99 |
4.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.26 |
18.49 |
4.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.21 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.96 |
3.09 |
1.25 |
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 |
112.484 |
112.484 |
112.484 |
|
Reserves & Surplus |
2281.344 |
2698.459 |
3250.739 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2393.828 |
2810.943 |
3363.223 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Total Income |
5560.800 |
6542.100 |
6878.500 |
|
|
|
17.647 |
5.142 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
5560.800 |
6542.100 |
6878.500 |
|
Profit |
261.900 |
457.600 |
552.300 |
|
|
4.71% |
6.99% |
8.03% |
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 |
No |
|
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 |
No |
|
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 |
NOTE: The Registered office of the company has been shifted from 502, 5th Floor, Raheja Titanium-2 Off. Western Express Highway Jogeshwari, Mumbai – 400063, Maharashtra, India to the present address
CORPORATE INFORMATION
The Company was acquired by BT Telecom India Private Limited on May 31, 2007. The Company has obtained International Long Distance (ILD), National Long Distance (NLD), Internet Service licenses (ISP) and Voice Mail/ Audiotex Services licenses. The Company is mainly engaged in providing telecom services under the ILD, ISP and Voice Mail / Audiotex Services licenses.
INDEX
OF CHARGES
No Charges Exist for Company
FIXED ASSETS
- Land
- Buildings
- Other building
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
- Other 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 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.66.09 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
64 |
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.