MIRA INFORM REPORT

 

 

Report No. :

343841

Report Date :

06.10.2015

 

IDENTIFICATION DETAILS

 

Name :

MAHIMA FIBRES PRIVATE LIMITED

 

MAHIMA PURESPUN (A UNIT OF MAHIMA FIBRES PRIVATE LIMITED)

 

 

Registered Office :

406, Corporate House, 4th Floor, 169 RNT Marg, Indore – 452001, Madhya Pradesh

Tel. No.:

91-731-2521021

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.06.1998

 

 

Com. Reg. No.:

10-012885

 

 

Capital Investment / Paid-up Capital :

Rs. 72.907 Million

 

 

CIN No.:

[Company Identification No.]

U17111MP1998PTC012885

 

 

IEC No.:

1101000376

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BPLM04156F

 

 

PAN No.:

[Permanent Account No.]

AACCM4603N 

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing, Ginning, Pressing and Spinning of Cotton, Yarn, Wools, Fabrics, etc.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

 

Maximum Credit Limit :

USD 2200000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1998 and it is a manufacturer and exporter of ginned cotton, cotton seed and cotton yarn etc.

 

For the financial year ended 2014, company possesses healthy operational performance and it has reported 35.54% growth in its net profit profile during the year under a review.

 

Rating also take into consideration established track record of company in cotton spinning industry supported by satisfactory financial base along with above average debt protection indicators and sound liquidity position of the company.

 

Trade relations are fair. Payment terms are reported to be usually correct.

 

In view of aforesaid, 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

ICRA

Rating

Fund based facilities – Cash Credit = BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

December 2014

 

 

Rating Agency Name

ICRA

Rating

Non-Fund based facilities – LC = A3

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

December 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 DECLINED BY

 

Name :

Mr. Ashok Doshi

Designation :

Director

Contact No.:

91-9826066622

Date :

05.10.2015

 

 

LOCATIONS

 

Registered Office :

406, Corporate House, 4th Floor, 169 RNT Marg, Indore – 452001, Madhya Pradesh, India

Tel. No.:

91-731-2521021/ 4066642/ 43

Mobile No.:

91-9826066622 [Mr. Ashok Doshi]

Fax No.:

91-731-2529556

E-Mail :

mahimaaccounts@gmail.com

 

 

Factory :

Plot No. 73-74, Sector II, Pitambur Industrial Estate, Dhar – 452001, Madhya Pradesh, India

Tel. No.:

91-7292-252995/ 406228/ 415228/ 229

Fax No.:

91-7292-252965

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Rohit Doshi

Designation :

Director

Address :

15/1, South Tukoganj, Indore - 452001, Madhya Pradesh, India

Date of Birth/Age :

09.12.1975

Date of Appointment :

31.10.2000

PAN No.:

AATPD3523C

DIN No.:

00126159

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

U17111MP1998PTC012885

MAHIMA FIBRES PRIVATE LIMITED

Director

31-10-2000

31-10-2000

-

Active

NO

2

U17121MP2003PTC015833

MAHIMA COTEX PRIVATE LIMITED

Director

23-05-2003

23-05-2003

-

Active

NO

3

U01405MP2007PTC019638

DELIGHT COTTON PRIVATE LIMITED

Director

26-06-2007

26-06-2007

02-11-2009

Active

NO

4

U55100MP2008PTC021396

JUNEJA HEALTH CLUB AND RESORT PRIVATE LIMITED

Additional director

22-03-2010

22-03-2010

28-06-2010

Active

NO

 

 

Name :

Mr. Ashok Kumar Doshi

Designation :

Director

Address :

15/1, South Tukoganj, Indore - 452001, Madhya Pradesh, India

Date of Birth/Age :

08.09.1953

Date of Appointment :

11.06.1998

PAN No.:

ABLPD3507F

DIN No.:

00126380

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

U17111MP1998PTC012885

MAHIMA FIBRES PRIVATE LIMITED

Director

11-06-1998

11-06-1998

-

Active

NO

2

U01405MP2007PTC019638

DELIGHT COTTON PRIVATE LIMITED

Director

26-06-2007

26-06-2007

01-12-2009

Active

NO

 

 

Name :

Mr. Ashish Doshi

Designation :

Director

Address :

15/1, South Tukoganj, Indore - 452001, Madhya Pradesh, India

Date of Birth/Age :

21.05.1977

Date of Appointment :

01.11.2005

PAN No.:

AHAPD4867B

DIN No.:

00486556

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

U17121MP1994PTC008690

RACHNA TEXTILES (INDIA) PRIVATE LIMITED

Director

05-10-1995

05-10-1995

-

Active

NO

2

U17121MP1997PTC011896

NIDHI COTTON INDUSTRIES PRIVATE LIMITED

Director

04-09-2003

04-09-2003

-

Active

NO

3

U17111MP1998PTC012885

MAHIMA FIBRES PRIVATE LIMITED

Director

01-11-2005

01-11-2005

-

Active

NO

4

U17120MH2005PTC157268

POOJA FIBRES PRIVATE LIMITED

Director

11-11-2005

11-11-2005

-

Active

NO

5

U01405MP2007PTC019638

DELIGHT COTTON PRIVATE LIMITED

Director

26-06-2007

26-06-2007

01-12-2009

Active

NO

 

 

Name :

Mr. Abhishek Doshi

Designation :

Director

Address :

15/1, South Tukoganj, Indore - 452001, Madhya Pradesh, India

Date of Birth/Age :

02.12.1979

Date of Appointment :

11.06.1998

PAN No.:

ABJPD2888B

DIN No.:

00961060

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

U17111MP1998PTC012885

MAHIMA FIBRES PRIVATE LIMITED

Director

11-06-1998

11-06-1998

-

Active

NO

2

U17120MH2005PTC157268

POOJA FIBRES PRIVATE LIMITED

Director

11-11-2005

11-11-2005

-

Active

NO

3

U01405MP2007PTC019638

DELIGHT COTTON PRIVATE LIMITED

Director

26-06-2007

26-06-2007

02-11-2009

Active

NO

4

U01403MH2009NPL194495

ECOCERT ORGANIC LIFESTYLE CLUB

Director

31-07-2009

31-07-2009

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

 

Ashok Kumar Doshi

 

1127000

Ashish Doshi

 

266600

Abhishek Kumar Doshi

 

571760

Pawan Kumar Doshi

 

259000

Manju Doshi

 

181000

Rohit Doshi

 

887350

Rahul Doshi

 

270500

Rani Doshi

 

352660

Chhavi Doshi

 

343100

Shilpa Doshi

 

294700

Pooja Doshi

 

120500

Bafna Ginnig and Pressing Private Limited, India

 

1000000

Alka Diamond Industries Limited, India

 

80000

Raghunandan Rayons Limited, India

 

40000

Triangular Infocom Limited, India  

 

87000

Yash –V Jewels Limited, India  

 

75000

Vanguard Jewels Limited, India 

 

85000

Mahima Cotex Private Limited, India

 

500000

Pooja Fibres Private Limited, India

 

362000

Alpha Chemie Trade Agencies Private Limited, India  

 

10000

Casper Enterprises Private Limited, India

 

57500

Javda India Impex Limited, India

 

100000

Kush Hindustan Entertainment Limited, India 

 

90000

Nakshatra Business Private Limited, India

 

65000

Olive Overseas Private Limited, India

 

40000

Talent Infoway Limited, India

 

25000

 

 

 

Total

 

 

7290670

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

35.89

Directors or relatives of directors

64.11

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing, Ginning, Pressing and Spinning of Cotton, Yarn, Wools, Fabrics, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

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

 

 

Customers :

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

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

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

 

·         State Bank of Indore

Khandelwal Chambers, Mhow-Neemach Road, Pithampur, Pithampur - 454775, Madhya Pradesh, India

 

·         State Bank of India

Commercial Branch, A.B. Road, Near G.P.O., Indore - 452001, Madhya Pradesh, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term loans from banks

(Secured against Hypothecation of all tangible movable assets Plant and Machineries and Equitable mortgage of Factory Land and Building)

450.638

544.188

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks

[Secured against Hypothecation of all stock, Book Debts and all movable assets]

324.647

346.041

 

 

 

Total

 

775.285

890.229

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Maheshwari and Gupta

Chartered Accountants

Address :

312-314, Manas Bhawan Extn., 11/2, R.N.T. Marg, Indore – 452001, Madhya Pradesh, India

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

AABFM9020B

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Related Parties :

·         Rachna Textiles (India) Private Limited [U17121MP1994PTC008690]

·         Pooja Fibres Private Limited [U17120MH2005PTC157268]

·         Nidhi Cotton Industries Private Limited [U17121MP1997PTC011896]

·         Mahima Cotex Private Limited [U17121MP2003PTC015833]

·         Delight Cotton Private Limited [U01405MP2007PTC019638]

·         Bafna Ginning and Pressing Private Limited [U17120MH1999PTC117869]

 

 

CAPITAL STRUCTURE

 

AFTER 30.09.2014

 

Authorised Capital : Rs. 90.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 80.659 Million

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

8,000,000

Equity Shares

Rs. 10/- each

Rs. 80.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7,290,670

Equity Shares

Rs. 10/- each

Rs. 72.907 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

72.907

72.907

72.907

(b) Reserves & Surplus

703.571

538.732

413.428

(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)

776.478

611.639

486.335

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

450.638

544.188

634.117

(b) Deferred tax liabilities (Net)

122.522

108.831

81.784

(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)

573.160

653.019

715.901

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

402.758

424.152

466.695

(b) Trade payables

292.942

465.879

562.484

(c) Other current liabilities

141.404

125.241

110.990

(d) Short-term provisions

9.570

13.791

6.792

Total Current Liabilities (4)

846.674

1029.063

1146.961

 

 

 

 

TOTAL

2196.312

2293.721

2349.197

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

955.449

962.523

956.216

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

22.096

18.999

12.530

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

977.545

981.522

968.746

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

536.299

578.641

503.396

(c) Trade receivables

474.843

496.859

469.530

(d) Cash and cash equivalents

34.827

59.971

75.590

(e) Short-term loans and advances

56.616

81.339

243.706

(f) Other current assets

116.182

95.389

88.229

Total Current Assets

1218.767

1312.199

1380.451

 

 

 

 

TOTAL

2196.312

2293.721

2349.197

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

TOTAL                                     (A)

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

NA

NA

NA

 

 

 

 

 

 

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

395.043

418.640

372.787

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

120.327

171.486

164.294

 

 

 

 

 

 

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

274.716

247.154

208.493

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

56.644

55.425

52.327

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

218.072

191.729

156.166

 

 

 

 

 

Less

TAX                                                                  (H)

53.233

66.425

47.985

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

164.839

125.304

108.181

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

862.347

1526.678

3244.470

 

 

 

 

 

 

Earnings Per Share (Rs.)

22.61

17.19

14.84

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

124.647

102.613

80.041

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

 

Net Cash flow from (used in) Operations

277.335

343.509

338.642

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

9.93

8.36

6.65

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.28

0.31

0.32

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.26

1.75

2.43

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.44

1.28

1.20

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

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

72.907

72.907

72.907

Reserves & Surplus

413.428

538.732

703.571

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

486.335

611.639

776.478

 

 

 

 

Long-term borrowings

634.117

544.188

450.638

Short term borrowings

466.695

424.152

402.758

CURRENT MATURITIES OF LONG-TERM DEBTS

80.041

102.613

124.647

Total borrowings

1180.853

1070.953

978.043

Debt/Equity ratio

2.428

1.751

1.260

 

 

 

 

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)

No

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

No

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10299062

03/09/2012 *

126,000,000.00

CENTRAL BANK OF INDIA

MID CORPORATE BRANCH, PHASE-1, PALIKA PLAZA, SECOND FLOOR, MTH COMPOUND, INDORE, MADHYA PRADESH - 452007, INDIA

B57899882

2

10212495

29/03/2010

298,000,000.00

STATE BANK OF INDORE

INDUSTRIAL FINANCE BRANCH, KHEL PRASHAL, RACE COURCE ROAD, INDORE, MADHYA PRADESH - 452001, INDIA

A83529024

3

10162013

03/05/2011 *

533,400,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, A.B.ROAD, NEAR G.P.O., INDORE, 
MADHYA PRADESH - 452001, INDIA

B13415989

4

10078091

21/05/2009 *

291,000,000.00

STATE BANK OF INDORE

KHANDELWAL CHAMBERS, MHOW- NEEMACH ROAD, PITHAMPUR, PITHAMPUR, MADHYA PRADESH - 454775, INDIA

A63328025

5

80033096

21/05/2009 *

290,000,000.00

STATE BANK OF INDORE

KHANDELWAL CHAMBERS, MHOW- NEEMACH ROAD, PITHAMPUR, PITHAMPUR, MADHYA PRADESH - 454775, INDIA

A63327654

6

80033095

05/07/2011 *

480,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, G.P.O, INDORE, MADHYA PRADESH - 452001, INDIA

B17570078

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Deposits

78.000

62.000

Loans and advances from related parties

0.111

16.111

 

 

 

Total

 

78.111

78.111

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the company has been shifted from 15/1, South Tukoganj, Indore – 452001, Madhya Pradesh, India to the present address w.e.f.14.01.2009.


FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Office equipment

 

 

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. 65.29

UK Pound

1

Rs. 99.31

Euro

1

Rs. 73.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

BVA

 

 

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

5

--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

 

45

 

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.