MIRA INFORM REPORT

 

 

Report No. :

351224

Report Date :

26.11.2015

 

IDENTIFICATION DETAILS

 

Name :

LINK SHIPPING AND MANAGEMENT SYSTEM PRIVATE LIMITED

 

 

Registered Office :

1601, 16TH Floor, Maker Chambers V, Nariman Point, Mumbai – 400021, Maharashtra

Tel. No.:

91-22-39386666

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

22.05.1989

 

 

Com. Reg. No.:

11-051830

 

 

Capital Investment / Paid-up Capital :

Rs. 0.134 Million

 

 

CIN No.:

[Company Identification No.]

U63090MH1989PTC051830

 

 

IEC No.:

0306037769

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUML02301F

 

 

PAN No.:

[Permanent Account No.]

AAACL0904F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into providing Logistic Services and Freight Forwarding.

 

 

No. of Employees :

35 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 645000

 

 

Status :

Satisfactory 

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear 

 

 

Comments :

Subject is an established company incorporated in the year 1989. It is the service provider for logistic and freight forwarding.

 

As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2015 but the documents related to the financials are not available from any sources.

 

For the financial year ended 2014, the company has healthy scale of operations marked by fair revenue along with profitability margin of 0.68%.

 

The company has satisfactory financial base, adequate net worth position along with favorable gap between trade payable and receivables.

 

Trade relations are fair. Business is active. Payments are usually correct.

 

In view of long business track record, 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

 

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 PARTED BY

 

Name :

Mr. Omkar More

Designation :

Account Executive

Contact No.:

91-22-39386666

Date :

23.11.2015

 

LOCATIONS

 

Registered Office :

1601, 16TH Floor, Maker Chambers V, Nariman Point, Mumbai – 400021, Maharashtra, India

Tel. No.:

91-22-39386666

Fax No.:

91-22-39386616

E-Mail :

khan@linkship.in

Website :

http://www.linkship.in

Area :

3300 Sq.Ft.

Location :

Owned

Locality :

Commercial

 

 

Branch Office :

1108, Chiranjiv Tower, 43, Nehru Place, New Delhi – 110019, India

Tel. No.:

91-11-26442417

Fax No.:

91-11-26442715

Location :

Owned

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Kiran Madhukar Kamat

Designation :

Managing director

Address :

Flat S 1/ S 2 , Palm Springs, Jai Cuffe Parade Co-Operative Housing Society Limited, Cuffe Parade, Mumbai -400005, Maharashtra, India

Date of Birth/Age :

29.04.1952

Date of Appointment :

22.05.1989

DIN No.:

00336663

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

Company/ LLP Status

Defaulting status

1

U63090MH1989PTC051830

LINK SHIPPING AND MANAGEMENT SYSTEM PRIVATE LIMITED

Managing director

22/05/1989

22/05/1989

Active

NO

2

U63010MH1994PTC076719

LINK MULTIMARINE SERVICES PRIVATE LIMITED

Managing director

22/02/1994

22/02/1994

Strike off

NO

3

U63090MH1999PTC121417

LINK SHIPPING SOUTH PRIVATE LIMITED

Managing director

23/08/1999

23/08/1999

Active

NO

4

U55204MH2001PTC130628

LINK HOSPITALITY SERVICES PRIVATE LIMITED

Managing director

29/01/2001

29/01/2001

Active

NO

5

U93090MH2006PTC166203

BELUGA PROJECTS (INDIA) PRIVATE LIMITED

Director

14/12/2006

14/12/2006

Active

NO

 

 

Name :

Mr. Geraldine Kiran Kamat

Designation :

Director

Address :

Flat S1/ S2, Palm Springs, Jai Cuffe Parade Co-Operative Housing Society Limited, Cuffe Parade, Mumbai -400005, Maharashtra, India

Date of Birth/Age :

13.12.1958

Date of Appointment :

01.12.1993

DIN No.:

00336704

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

Company/ LLP Status

Defaulting status

1

U63090MH1989PTC051830

LINK SHIPPING AND MANAGEMENT SYSTEM PRIVATE LIMITED

Director

01/12/1993

01/12/1993

Active

NO

2

U63010MH1994PTC076719

LINK MULTIMARINE SERVICES PRIVATE LIMITED

Director

22/02/1994

22/02/1994

Strike off

NO

3

U63090MH1999PTC121417

LINK SHIPPING SOUTH PRIVATE LIMITED

Director

23/08/1999

23/08/1999

Active

NO

4

U55204MH2001PTC130628

LINK HOSPITALITY SERVICES PRIVATE LIMITED

Additional director

29/01/2001

29/01/2001

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Omkar More

Designation :

Account Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Kiran Madhukar Kamat

1002

75.06

Geraldine Kiran Kamat

333

24.94

 

 

 

Total

 

1335

100.00

 

 

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into providing Logistic Services and Freight Forwarding.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Bombay Launch Service Private Limited

·         J. M. Maritime service

·         Sunrise Radia Tors and Engg.

·         Hapag Lloyd (India) Private Limited

·         B. R. Udani and Com.

·         Tyre Grip Private Limited

 

 

Customers :

Retailers

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Coral Shipping Co. Limited

·         B. M. Associates

·         Sukam Power Systems Limited

·         Damani Shipping Private Limited

·         Essar Steel India Limited

·         Kamat and Co.

 

 

No. of Employees :

35 (Approximately)

 

 

Bankers :

Bank Name:

Deutsche Bank AG

Branch:

Fort, Mumbai, 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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         HDFC Bank Limited

Fort, Mumbai, Maharashtra, India

 

·         HDFC Bank Limited

HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loans

30.383

30.431

Car loans

0.699

1.664

Commercial vehicle loans

3.132

4.328

Loan from L&T

220.086

0.000

 

254.3

 

SHORT TERM BORROWINGS

 

 

Cash Credit Facility with Citibank N.A.

0.000

2.528

 

 

 

Total

 

254.300

38.951

 

Banking Relations :

--

 

 

Financial Institution :

·         L and T Finance Limited

L and T House, Ballard Estate, Mumbai - 400001, Maharashtra, India

 

 

Auditors :

 

Name :

Gawande and Associates

Chartered Accountants

Address :

801, Mahalaxmi chambers, 22 Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India

Tel. No.:

91-22-66126300

Fax No.:

91-22-66126314

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

AADFG2763P

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries :

·         Jarico Shipping Private Limited

·         Link Hospitality Services Private Limited (CIN No.: U55204MH2001PTC130628)

 

 

Entities under common control :

·         Link Shipping South Private Limited

Address: G - 3, Amar Sindur, 43 Pantheon Road, Chennai – 600008, Tamilnadu, India

 

 

Associates concern:

Beluga Projects (India) Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100,000

Equity Shares

Rs. 100/- each

Rs. 10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,335

Equity Shares

Rs. 100/- each

Rs. 0.134 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

0.134

0.133

0.134

(b) Reserves & Surplus

225.663

222.306

200.515

(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)

225.797

222.439

200.649

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

306.149

85.511

65.984

(b) Deferred tax liabilities (Net)

0.299

0.206

0.000

(c) Other long term liabilities

0.000

1.304

1.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

306.448

87.021

66.984

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

2.528

0.012

(b) Trade payables

13.227

17.106

16.078

(c) Other current liabilities

13.202

31.656

49.671

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

26.429

51.290

65.761

 

 

 

 

TOTAL

558.674

360.750

333.394

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

157.155

179.973

206.013

(ii) Intangible Assets

299.039

59.256

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

29.437

40.459

31.593

(c) Deferred tax assets (net)

0.000

0.000

0.035

(d)  Long-term Loan and Advances

11.701

16.751

11.264

(e) Other Non-current assets

7.269

7.557

7.606

Total Non-Current Assets

504.601

303.996

256.511

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

48.425

42.441

32.019

(d) Cash and cash equivalents

2.181

3.238

31.821

(e) Short-term loans and advances

1.441

9.413

11.997

(f) Other current assets

2.026

1.662

1.046

Total Current Assets

54.073

56.754

76.883

 

 

 

 

TOTAL

558.674

360.750

333.394

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Opeartions

357.489

337.296

463.047

 

 

Other Income

5.685

2.602

1.803

 

 

TOTAL                                     (A)

363.174

339.898

464.850

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Operational Expenses

272.431

210.184

296.599

 

 

Employees benefits expense

34.951

39.819

41.719

 

 

Administrative  and Other expenses

14.189

16.253

17.738

 

 

TOTAL                                     (B)

321.571

266.256

356.056

 

 

 

 

 

 

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

41.603

73.642

108.794

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

11.887

9.081

10.554

 

 

 

 

 

 

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

29.716

64.561

98.240

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

26.091

31.693

37.014

 

 

 

 

 

 

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

3.625

32.868

61.226

 

 

 

 

 

Less

TAX                                                                  (H)

1.192

10.841

20.429

 

 

 

 

 

 

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

2.433

22.027

40.797

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Components and Spare Parts

NA

0.046

0.499

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Share (Rs.)

1822.11

16499.41

30559.32

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

 

 

 

From Banks

 

 

 

Term loans

0.000

11.117

 

Car loans

0.965

0.872

 

Commercial vehicle loan

0.000

7.586

 

From related parties

 

 

 

Loan from director

6.591

4.713

 

Total

7.556

24.288

NA

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from used in Operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.68

6.53

8.81

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

11.64

21.83

23.50

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.68

10.26

20.29

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.02

0.15

0.31

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.36

0.40

0.33

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.05

1.11

1.17

 

 

 

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

0.134

0.133

0.134

Reserves & Surplus

200.515

222.306

225.663

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

200.649

222.439

225.797

 

 

 

 

Long-term borrowings

65.984

85.511

306.149

Short term borrowings

0.012

2.528

0.000

Total borrowings

65.996

112.327

313.705

Debt/Equity ratio

0.329

0.505

1.389

 

 

 

 

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

463.047

337.296

357.489

 

 

(27.157)

5.987

 

 

 

 

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

463.047

337.296

357.489

Profit

40.797

22.027

2.433

 

8.81%

6.53%

0.68%

 

 

 

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

Yes

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)

No

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

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10522871

24/09/2014

55,000,000.00

DEUTSCHE BANK AG

KODAK HOUSE, 222 D.N ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA

C22884191

2

10520527

30/08/2014

75,000,000.00

DEUTSCHE BANK AG

P.O. BOX NO 9080, GOREGAON (EAST), MUMBAI - 400063, MAHARASHTRA, INDIA

C20107488

3

10447587

03/09/2013

370,000,000.00

L & T FINANCE LIMITED

L&T HOUSE, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA , INDIA

B84298181

4

10397647

10/01/2013

370,000,000.00

L & T FINANCE LIMITED

L&T HOUSE, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA , INDIA

B66118324

5

10265952

04/01/2011

7,052,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI- 400013, MAHARASHTRA, INDIA

B04806329

6

10234654

02/08/2010

3,688,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA

A91888560

7

10056436

22/06/2007 *

20,000,000.00

STANDARD CHARTERED BANK

SME CREDIT, 23-25, M G ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA

A33060419

8

10037865

04/12/2006

5,100,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA

A09428475

9

90212545

05/09/1996 *

1,000,000.00

DEVELOPMENT CREDIT BNAK LIMITED

MOHAMEDALI ROAD BRANCH, MUMBAI - 4000 
01, MAHARASHTRA, INDIA

-

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

From Citizen Co-Operative Bank

0.001

0.001

Inter Company Deposit

2.450

2.450

Loan from Director

49.398

46.637

 

 

 

Total

 

51.849

49.088

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the Company has been shifted from 406, BNG house, 197/199, D. N. Road, Fort Mumbai – 400001, Maharashtra, India to the present address w.e.f. 30.06.2010.

 

 

FIXED ASSETS:

 

  • Office Equipment
  • Furniture and Fixture
  • Telephone
  • Premises
  • Motor Vehicles
  • Computers

 

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.66.38

UK Pound

1

Rs.100.45

Euro

1

Rs.70.55

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

ARC

 

 

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

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

4

--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

 

43

 

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.