MIRA INFORM REPORT

 

 

Report No. :

343142

Report Date :

06.10.2015

 

IDENTIFICATION DETAILS

 

Name :

SHRI BIHARIJI COLD ROLLERS PRIVATE LIMITED

 

 

Registered Office :

Village: Baniara, P.O. : Begri, Howrah – 711405, West Bengal

Mobile No.:

91-9830067911 (Mr. Durga Prasad Agarwal)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

13.07.1999

 

 

Com. Reg. No.:

21-089825

 

 

Capital Investment / Paid-up Capital :

Rs.43.190 Million

 

 

CIN No.:

[Company Identification No.]

U27106WB1999PTC089825

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Supplier of Iron and steel, cold rolled steel strips.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (22)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow and delayed

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1999. It has moderate track.

 

Management has failed to file its financial for the year ended 2014 with the government department.

 

For the financial year ended 2013, the company has shown downtrend in its operational activity and incurred huge accumulated losses.

 

The rating is constrained on account of moderate financial base and delays by the company in servicing its debt obligations.

 

Trade relations are fair: Business is active. Payments are slow and delayed.

 

The company can be considered for business dealings on safe and secure 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

CARE

Rating

Long term bank facilities: D

Rating Explanation

Lowest credit quality and very low prospects of recovery.

Date

July 2015

 

 

Rating Agency Name

CARE

Rating

Short term bank facilities: D

Rating Explanation

Instruments with this rating are in default or expected to be in default on maturity.

Date

July 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 DECLINED BY

 

Name :

Mr. Durga Prasad Agarwal

Designation :

Director

Contact No.:

91-9830067911

Date :

05.10.2015

 

 

LOCATIONS

 

Registered Office / Factory  :

Village: Baniara, P.O. : Begri, Howrah – 711405, West Bengal, India

Tel. No.:

Not Available

Mobile No.:

91-9830067911 (Mr. Durga Prasad Agarwal)

Fax No.:

Not Available

E-Mail :

mmanagers@gmail.com

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Durga Prasad Agarwal

Designation :

Director

Address :

42A Harish Mukherjee Road, 3rd Floor, Kolkata - 700025, West Bengal, India

Date of Birth/Age :

03.10.1964

Date of Appointment :

13.07.1999

DIN No.:

01057753

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

U27106WB1999PTC089825

SHRI BIHARIJI COLD ROLLERS PRIVATE LIMITED

Director

13/07/1999

13/07/1999

-

Active

NO

2

U51109WB1994PTC064718

RICHIZEN DEALCOMM PVT. LTD.

Director

9/12/2009

9/12/2009

25/09/2014

Active

NO

3

U51909WB2010PTC142334

UNIQUE DEALER PRIVATE LIMITED

Director

26/09/2011

26/09/2011

31/03/2013

Active

NO

4

U51909WB2010PTC142318

SAKAMBHARI VINCOM PRIVATE LIMITED

Director

26/09/2011

26/09/2011

-

Active

NO

 

 

Name :

Mr. Ratan Kumar Chakraborty

Designation :

Director

Address :

72/1 M.G. Road, Thakurpukur,S-24 Pgs, Kolkata, 700063, West Bengal, India

Date of Appointment :

01.06.2015

DIN No.:

02013337

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

U65910WB1984PTC037071

UNI LEASING PVT LTD

Director

1/4/2000

1/4/2000

-

Active

NO

2

U51909WB1982PLC034900

CHOWHAN EXPORTS LTD

Director

17/11/2006

17/11/2006

23/08/2013

Active

NO

3

U51226WB1985PLC039333

ARTEX DEVELOPMENT LTD

Director

7/6/2007

7/6/2007

-

Active

NO

4

U27201WB1978PTC031313

PARMESHWARI ALUMINIUM PVT LTD

Director

21/01/2008

21/01/2008

9/2/2012

Active

NO

5

U45201WB1998PTC087585

OLISA REALITY PRIVATE LIMITED

Director

15/04/2008

15/04/2008

30/07/2012

Active

NO

6

U52190WB1994PTC062653

DIPLO MERCANTILES PVT LTD

Director

20/10/2008

20/10/2008

21/09/2012

Active

NO

7

U63022WB1977PTC031223

GEMEX INTERANATIONALE PVT LTD

Director

22/10/2008

22/10/2008

11/1/2013

Active

NO

8

U51909WB2006PTC111366

BEEKAY VYAPAR PRIVATE LIMITED

Director

22/03/2009

22/03/2009

-

Active

NO

9

U45202WB1991PTC052870

SUBH LABH PROPERTIES & DEVELOPERS PVT LTD

Director

12/5/2009

12/5/2009

8/1/2013

Active

NO

10

U74900WB2009PTC135044

ALKA VANIJYA PRIVATE LIMITED

Director

12/5/2009

12/5/2009

29/05/2010

Active

NO

11

U70200WB1995PTC074706

FASTRACK CONSTRUCTION PVT LTD

Director

14/05/2009

14/05/2009

9/2/2012

Active

NO

12

U51109WB1996PTC076905

CORE IMPEX PVT LTD

Director

20/05/2009

20/05/2009

-

Active

NO

13

U74120WB2009PTC133118

PRAKASH BARTER PRIVATE LIMITED

Director

30/06/2009

30/06/2009

22/12/2009

Active

NO

14

U67120WB1993PTC057455

ASSOCIATED MARKETMAN CONSULTANCY PVT LTD

Director

14/12/2011

14/12/2011

24/09/2012

Active

NO

15

U27108WB1979PTC032229

PRAMOD UTENSILS & ROLLING MILLS PVT LTD

Director

9/2/2012

9/2/2012

11/1/2013

Active

NO

16

U36109WB1969PTC027540

MEHTA MILLSTORES CO PVT LTD

Director

9/2/2012

9/2/2012

11/1/2013

Active

NO

17

U67120WB1947PTC014906

STANDARD INVESTMENT CO PVT LTD

Director

9/2/2012

9/2/2012

8/1/2013

Active

NO

18

U65921WB1996PTC080492

SHREEKUNJ SECURITIES PVT LTD

Director

7/1/2013

7/1/2013

-

Active

NO

19

U74999WB2009PTC132606

VIPREET'S SAFE TRADING PRIVATE LIMITED

Director

28/04/2014

28/04/2014

-

Active

NO

20

U27106WB1999PTC089825

SHRI BIHARIJI COLD ROLLERS PRIVATE LIMITED

Director

1/6/2015

1/6/2015

-

Active

NO

21

U70100WB2007PTC119357

SUMANGAL PROJECTS PRIVATE LIMITED

Director

24/07/2015

24/07/2015

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

Names of Shareholders

 

No. of Shares

Durga Prasad Agarwal

 

810720

Amirgarh Trading (Private) Limited, India

 

100000

Richizen Dealcomm Private Limited, India

 

130000

Lupmex Vincon Private Limited, India

 

206000

Blackpool Vinimay Private Limited, India

 

180000

Jetair Iron Private Limited, India

 

120000

Cold Gold Fashion Private Limited, India

 

50000

Sangita Agarwal

 

771500

Durga Prasad Agarwal (HUF)

 

100

Rajesh Agarwal

 

100

Madhu Saraf

 

10

Bengal Steel Sales and Industries

 

10

Gunjan Mercantile Private Limited, India

 

80000

Unique Dealer Private Limited, India

 

100000

Sakambari Vincom Private Limited, India

 

140000

Amritsidhi Distributors (Private) Limited, India

 

430000

Isha Kharkia

 

100

Gaurav Agarwal

 

100

Santosh Devi Agarwal

 

100

Binapani Distributor (Private) Limited, India

 

1000000

A.K.Saraf Huf

 

10

Arun Kumar Agarwal

 

10

Manju Agarwal

 

10

Buildcon Finance Limited, India

 

100000

Capstan Real Estate Private Limited, India

 

100000

Madhu Diwan

 

10

Alka Chaudhary

 

10

Ankit Chaudhary

 

10

Beni Prasad Gupta

 

100

Saroj Devi Chaudhary

 

100

 

 

 

Total

 

4319000

 

AS ON 03.12.2013

 

Names of Allottees

 

No. of Shares

Moonview Vinimav Private Limited, India

 

80000

$tartree Dealers Private Limited, India

 

87500

Blue Motion Exports Private Limited, India

 

72500

Sahan Metaliks Private Limited, India

 

25000

Talland Datasoft Private Limited, India

 

22500

 

 

 

Total

 

287500

 

AS ON 15.07.2014

 

Names of Allottees

 

No. of Shares

Friendship Vinicom Private Limited, India

 

122500

Frontiline Hirise Private Limited, India

 

75000

Kronje Suppliers Private Limited, India

 

50000

Mangalrashi Sales Private Limited, India

 

75000

Midway Distributors Private Limited, India

 

37500

Sadashiva Dealtrade Private Limited, India

 

75000

Sadbhawana Trading Private Limited, India

 

17500

Spike Dealcom Private Limited, India

 

62500

Total

 

515000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2013

 

Category

Percentage

Bodies corporate

54.28

Directors or relatives of Directors

45.70

Other top fifty shareholders

0.02

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Supplier of Iron and steel, cold rolled steel strips.

 

 

Products :

Item Code No.

Product Description

72112350

C.R.Steel Strips

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

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 :
  • Bank of Baroda, Indian Exchange Place Branch, 4, Indian Exchange Place, Kolkata - 700001, West Bengal, India
  • United Bank of India, 4, N.C. Dutta Sarani, Kolkata - 700001, West Bengal, India

 

Banker Name

State Bank of India

Branch Address

Commercial Branch, N. S. Road,

8, N. S. Road, Kolkata - 700001,

West Bengal, 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

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

Rupee term loans from banks

47.500

57.515

Loans taken for vehicles

1.300

0.690

SHORT TERM BORROWING

 

 

Working capital loans from banks

352.630

261.121

Total

401.430

319.326

 

Auditors :

 

Name :

Agrawal Singhania and Company

Chartered Accountants

Address :

33/1 Netaji Subhash Road, 332 Marshall House, Kolkata – 700001, West Bengal, India

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

AAFFA1942E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

After 30.09.2013

 

Authorised Capital : Rs. 55.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 53.440 Million

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs. 50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4319000

Equity Shares

Rs.10/- each

Rs. 43.190 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

43.190

32.790

23.790

(b) Reserves & Surplus

104.024

122.126

69.060

(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)

147.214

154.916

92.850

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

181.170

181.670

149.109

(b) Deferred tax liabilities (Net)

0.000

7.710

3.226

(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)

181.170

189.380

152.335

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

352.630

261.121

190.820

(b) Trade payables

522.228

217.581

67.714

(c) Other current liabilities

137.593

12.743

11.297

(d) Short-term provisions

2.218

4.847

3.027

Total Current Liabilities (4)

1014.669

496.292

272.858

 

 

 

 

TOTAL

1343.053

840.588

518.043

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

192.654

195.935

173.109

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

54.770

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)

6.859

0.000

0.000

(d)  Long-term Loan and Advances

2.535

3.132

2.724

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

256.818

199.067

175.833

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

204.853

268.002

175.194

(c) Trade receivables

805.017

320.000

128.411

(d) Cash and cash equivalents

31.661

29.418

11.392

(e) Short-term loans and advances

41.868

22.613

26.864

(f) Other current assets

2.836

1.488

0.349

Total Current Assets

1086.235

641.521

342.210

 

 

 

 

TOTAL

1343.053

840.588

518.043

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Income

NA

863.631

456.127

 

Other Income

NA

2.131

0.473

 

TOTAL

NA

865.762

456.600

 

 

 

 

 

Less

EXPENSES

NA

840.658

442.929

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(71.748)

25.104

13.671

 

 

 

 

 

Less

TAX

(12.048)

8.041

1.449

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(59.700)

17.063

12.222

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

45.623

28.560

16.338

 

 

 

 

 

 

Balance Carried to the B/S

(14.077)

45.623

28.560

 

 

 

 

 

 

CIF VALUE OF IMPORTS

 NA

0.000

4.726

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(13.82)

6.96

5.81

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

12.623

11.818

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(0.001)

0.000

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)

NA

1.98

2.68

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(5.60)

2.99

2.64

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.49)

0.16

0.15

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.71

2.93

3.66

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.07

1.29

1.25

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

23.790

32.790

43.190

Reserves & Surplus

69.060

122.126

104.024

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

92.850

154.916

147.214

 

 

 

 

long-term borrowings

149.109

181.670

181.170

Short term borrowings

190.820

261.121

352.630

Total borrowings

339.929

442.791

533.800

Debt/Equity ratio

3.661

2.858

3.626

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

No

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

No

26

Turnover of firm for last two 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

 

 

NOTE: Registered office of the company has been shifted from 4A N C Dutta Sarani, 1st Floor, Room No 102, Kolkata – 700001, West Bengal, India to the present address w.e.f. 17.03.2015

 

BUSINESS OUTLOOK (AS ON 31.03.2013):

 

Due to poor economic Condition, The Management has opted for a formal method of loan restructuring in August 2013, the company has initiated the process under Non-Corporate Debt Restructuring Mechanism envisaged under the Reserve Bank of India (RBI) guidelines. The Proposal is under consideration by the committee as on today.

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

Loans and advances from others

132.370

123.465

Total

132.370

123.465

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10385850

27/05/2014 *

703,200,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, JEEVANDEEP, 1,MIDDLETON STREET
, JEEVANDEEP BUILDING, 2ND FLOOR, KOLKATA, WEST BE
NGAL - 700071, INDIA

C05535067

2

10340352

31/03/2014 *

237,500,000.00

BANK OF BARODA

BANK OF BARODA, INDIAN EXCHANGE PLACE BRANCH, 4,
INDIAN EXCHANGE P, KOLKATA, WEST BENGAL - 700001,
INDIA

C04631453

3

10195104

27/02/2013 *

364,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, N. S. ROAD, 8, N. S. ROAD, KOL
KATA, WEST BENGAL - 700001, INDIA

B70690508

4

10195103

02/01/2014 *

539,700,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, N. S. ROAD, 8, N. S. ROAD, KOL
KATA, WEST BENGAL - 700001, INDIA

B93083830

 

* Date of charge modification

 

 

FIXED ASSETS

 

Tangible assets

 

 

Intangible assets

 

 

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.65.29

UK Pound

1

Rs.99.31

Euro

1

Rs.73.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

--

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--CREDIT LINES

1~10

2

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

22

 

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.