MIRA INFORM REPORT

 

 

Report No. :

343843

Report Date :

07.10.2015

 

IDENTIFICATION DETAILS

 

Name :

WHITE METALS LIMITED (w.e.f. 20.05.2011)

 

 

Formerly Known As :

MIDI EXTRUSIONS LIMITED

 

 

Registered Office :

9009, D. B. Gupta Road, Pahar Ganj, New Delhi - 110055

Tel. No.:

91-120-6516371

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

13.11.1987

 

 

Com. Reg. No.:

55-029767

 

 

Capital Investment / Paid-up Capital :

Rs.244.057 Million

 

 

CIN No.:

[Company Identification No.]

U28111DL1987PLC029767

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Aluminium Extrusion, Auto Parts etc.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (14)

 

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

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1987. It has moderate track.

 

Rating is constrained on account of adverse business activity of the company as reflected by loss making operations in the year FY – 14.

 

The company has moderate financial base and weak debt protection metrics along with unfavorable gap between trade payables and receivables.

 

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

 

The company can be considered for business dealings on safe and secure trade terms and conditions.

 

Note :

 

Company has found under RBI defaulter list and defaulted safety amount with corporation bank.

 

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name has been found enlisted as a defaulter in the publicly available RBI Defaulters’ list and the details of the same are as under :

 

Borrowers’ Name :

White Metals 

Address :

77, LGF West Avenue Road,Punjabi Bagh West, New Delhi-110026, , India

Name of Individual :

Aarti Kalra,

Sanjay Kumar Kalra

Name of Credit Grantors / Bank & Branch:

Corporation Bank, New Delhi-Vasanth Kunj PBB

Amount (Rs. In Million) :

Rs. 40.000

 

 

 

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 :

Ms. Sangeeta

Designation :

Senior Admin executive

Contact No.:

91-120-6516373

Date :

03.10.2015

 

 

LOCATIONS

 

Registered Office :

9009, D. B. Gupta Road, Pahar Ganj, New Delhi – 110055, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

cs@sigmalegal.in

 

 

Branch Office / Factory

A23-26, Hosiery Complex Phase-II Extension, Noida – 201305, Uttar Pradesh, India

Tel. No.:

91-120-6516371 / 6516372 / 6516373

Fax No.:

91-120-2462028

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Ranjit Kumar Kapoor

Designation :

Director

Address :

C-52, Malviya Nagar, New Delhi, 110017, India

Date of Birth/Age :

02.10.1950

Qualification:

Graduate

Date of Appointment :

13.11.1987

DIN No.:

00447570

Election Commission Identity Card No.:

DL0200803318

PAN No.:

AINPK2786N

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

U28111DL1987PLC029767

WHITE METALS LIMITED

Director

13/11/1987

13/11/1987

-

Active

NO

2

U74899DL1980PTC010618

NOIDA ALLOYS AND CONDUCTORS PVT LTD

Director

20/07/1991

20/07/1991

31/08/2010

Active

NO

3

U72900DL1994PLC063108

KIRANJIT CONSULTANCY SERVICES LIMITED

Director

1/12/1994

1/12/1994

-

Active

NO

4

U27103DL1999PTC099959

KIRANJIT MANUFACTURING PRIVATE LIMITED

Director

30/11/2006

30/11/2006

10/4/2008

Active

NO

 

 

Name :

Mr. Rakesh Kapoor

Designation :

Director

Address :

C-52, Malviya Nagar, New Delhi, 110017, India

Date of Birth/Age :

05.11.1959

Qualification:

Graduate

Date of Appointment :

12.04.2007

DIN No.:

00447637

PAN No.:

AJCPK7106L

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

U72900DL1994PLC063108

KIRANJIT CONSULTANCY SERVICES LIMITED

Director

1/12/1994

1/12/1994

-

Active

NO

2

U27104WB1997PTC083604

WHITE METALS INDUSTRIES PRIVATE LIMITED

Director

25/03/1997

25/03/1997

1/12/2008

Active

NO

3

U27103DL1999PTC099959

KIRANJIT MANUFACTURING PRIVATE LIMITED

Director

26/05/1999

26/05/1999

-

Active

NO

4

U28111DL1987PLC029767

WHITE METALS LIMITED

Director

12/4/2007

12/4/2007

-

Active

NO

 

 

Name :

Mr. Shabbir Ahmad Khan

Designation :

Director

Address :

36, Kaush Ghat Road, Sadar, Howrah - 711102, West Bengal, India

Date of Birth/Age :

08.01.1963

Qualification:

Graduate

Date of Appointment :

05.08.2012

DIN No.:

03229475

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

U74899DL1980PTC010618

NOIDA ALLOYS AND CONDUCTORS PVT LTD

Director

30/09/2010

30/08/2010

6/1/2012

Active

NO

2

U28111DL1987PLC029767

WHITE METALS LIMITED

Director

5/8/2012

5/8/2012

-

Active

NO

 

 

KEY EXECUTIVE

 

Name :

Ms. Sangeeta

Designation :

Senior Admin executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Ranjit Kumar Kapoor

 

301500

Manjri Kapoor

 

403000

Tejan Kapoor

 

2212630

Tejan Kapoor

 

400000

Babita Kapoor

 

400000

Rakesh Kapoor

 

337500

Kiran Kumar Kapoor

 

250000

Rohit Kapoor

 

2245150

Rahul Kapoor

 

2293460

Jyoti Kapoor

 

7500

Kiranjit Consultancy Services Limited, India (Formerly known as Kiranjit Foils Limited, India)

 

3654000

White Metals Indus Private Limited, India

 

11900950

Total

 

24405690

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

63.74

Directors or relatives of Directors

36.26

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Aluminium Extrusion, Auto Parts etc.

 

 

Products :
  • Aluminium Extrusion
  • Auto Parts

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

No. of Employees :

Not Available

 

 

Bankers :
  • Punjab National Bank, NSEZ, Noida - 201301, Uttar Pradesh, India
  • Punjab National Bank, Cc 21, Nehru Enclave, Opposite Nehru Place, New Delhi - 110019, India
  • Canara Bank, Gole Market, New Delhi, India
  • Punjab National Bank, Bo : Nehru Place, Dohil Chambers, Nehru Place, New Delhi - 110019, Delhi, India
  • Punjab National Bank, 46-Dohil Chambers, Nehru Place, New Delhi - 110019, India

 

Banker Name

Indian Overseas Bank

Branch Address

Yusuf Sarai Branch, C-1 Green Park Extn, Main Aurobindo Road, New Delhi - 110016, India

Person Name (With Designation)

Not Available

Contact Number

Not Available

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Rupee term loans from banks

1556.906

1562.945

Total

1556.906

1562.945

 

Auditors :

 

Name :

G P Agrawal and Company

Chartered Accountants

Address :

252A, Vijay, Tower Shahpur, Jat Pancheel Park

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

AACFG8964F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000000

Equity Shares

Rs.10/- each

Rs. 500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

24405690

Equity Shares

Rs.10/- each

Rs. 244.057 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

244.057

244.057

244.057

(b) Reserves & Surplus

(19.098)

49.630

68.225

(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)

224.959

293.687

312.282

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

23.674

23.674

716.847

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.765

0.271

0.666

(d) long-term provisions

5.190

3.744

2.767

Total Non-current Liabilities (3)

29.629

27.689

720.280

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1556.906

1562.945

894.508

(b) Trade payables

130.957

106.272

95.005

(c) Other current liabilities

35.649

33.337

31.901

(d) Short-term provisions

8.340

4.735

2.310

Total Current Liabilities (4)

1731.852

1707.289

1023.724

 

 

 

 

TOTAL

1986.440

2028.665

2056.286

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1013.552

820.705

769.984

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

16.513

41.312

21.602

(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)

181.853

191.586

171.414

(d)  Long-term Loan and Advances

7.101

7.371

6.395

(e) Other Non-current assets

350.813

261.347

261.527

Total Non-Current Assets

1569.832

1322.321

1230.922

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.800

0.800

0.800

(b) Inventories

69.432

180.804

202.090

(c) Trade receivables

93.856

362.550

519.113

(d) Cash and cash equivalents

(3.388

5.800

32.001

(e) Short-term loans and advances

255.908

156.390

71.360

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

416.608

706.344

825.364

 

 

 

 

TOTAL

1986.440

2028.665

2056.286

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

596.769

1084.289

2020.678

 

Other Income

5.214

2.561

5.217

 

TOTAL (A)

601.983

1086.850

2025.895

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

339.479

455.194

1120.926

 

Purchases of Stock-in-Trade

91.184

447.402

715.367

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

23.970

31.833

39.515

 

Employees benefits expense

38.453

38.244

34.847

 

Other expenses

86.474

96.687

126.456

 

TOTAL (B)

579.560

1069.360

2037.111

 

 

 

 

 

Less

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

22.423

17.490

-11.216

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

5.709

13.116

197.950

 

 

 

 

 

 

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

16.714

4.374

-209.166

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

75.709

43.142

42.059

 

 

 

 

 

 

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

(58.995)

(38.768)

(251.225)

 

 

 

 

 

Less

TAX (H)

9.733

(20.172)

(61.233)

 

 

 

 

 

 

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

(68.728)

18.596)

(189.992)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

31.411

33.153

66.940

 

TOTAL EARNINGS

31.411

33.153

66.940

 

 

 

 

 

 

IMPORTS

 

 

 

 

Capital Goods

6.288

3.996

0.000

 

Raw Materials

39.558

101.405

261.745

 

Consumables:

0.172

1.546

8.986

 

TOTAL IMPORTS

46.018

106.947

270.731

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(2.82)

(0.76)

(7.78)

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

340.743

153.250

681.807

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(11.52)

(1.72)

(9.40)

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

3.76

1.61

(0.56)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(3.30)

(2.16)

(13.48)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.26)

(0.13)

(0.80)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

7.03

5.40

5.16

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.24

0.41

0.81

 

 

 

 

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

244.057

244.057

244.057

Reserves & Surplus

68.225

49.630

(19.098)

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

312.282

293.687

224.959

 

 

 

 

long-term borrowings

716.847

23.674

23.674

Short term borrowings

894.508

1562.945

1556.906

Total borrowings

1611.355

1586.619

1580.580

Debt/Equity ratio

5.160

5.402

7.026

 

 

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

2020.678

1084.289

596.769

 

 

(46.340)

(44.962)

 

 

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

2020.678

1084.289

596.769

Profit

(189.992)

(18.596)

(68.728)

 

(9.40%)

(1.72%)

(11.52%)

 

 

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

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

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

 

FINANCIAL RESULTS

 

During the year total income of the Company was Rs. 601.983 Million as against Rs. 1086.850 Million in the previous year. The Directors are putting in their best efforts to improve the performance of the Company.

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and advances from others

23.575

23.575

Loans and advances from directors

0.099

0.099

Total

23.674

23.674

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10311132

20/08/2011

12,000,000.00

PUNJAB NATIONAL BANK

CC 21, NEHRU ENCLAVE, OPP. NEHRU PLACE, NEW DELHI
, DELHI - 110019, INDIA

B22922405

2

10307721

28/07/2011

25,000,000.00

INDIAN OVERSEAS BANK

YUSUF SARAI BRANCH, C-1, GREEN PARK EXTN., MAIN A
URBINDO MARG, NEW DELHI, DELHI - 110016, INDIA

B21196811

3

10216947

31/03/2010

50,000,000.00

INDIAN OVERSEAS BANK

YUSUF SARAI BRANCH, C-1 GREEN PARK EXTN, MAIN AUR
OBINDO ROAD, NEW DELHI, DELHI - 110016, INDIA

A84134410

4

10216952

31/03/2010

119,500,000.00

INDIAN OVERSEAS BANK

YUSUF SARAI BRANCH, C-1 GREEN PARK EXTN, MAIN AUR
OBINDO ROAD, NEW DELHI, DELHI - 110016, INDIA

A84143866

5

10216959

31/03/2010

300,000,000.00

INDIAN OVERSEAS BANK

YUSUF SARAI BRANCH, C-1 GREEN PARK EXTN, MAIN AUR
OBINDO ROAD, NEW DELHI, DELHI - 110016, INDIA

A84148261

6

10216960

31/03/2010

300,000,000.00

INDIAN OVERSEAS BANK

YUSUF SARAI BRANCH, C-1 GREEN PARK EXTN, MAIN AUR
OBINDO ROAD, NEW DELHI, DELHI - 110016, INDIA

A84149137

7

10099348

14/03/2008

40,000,000.00

PUNJAB NATIONAL BANK

NSEZ, NOIDA, NOIDA, UTTAR PRADESH - 201301, INDIA

A37034295

8

10099347

26/02/2008

11,000,000.00

PUNJAB NATIONAL BANK

NSEZ, NOIDA, NOIDA, UTTAR PRADESH - 201301, INDIA

A37033909

9

10023590

09/10/2006

15,000,000.00

INDIAN OVERSEAS BANK

C-1, GREEN PARK EXTN., YUSUF SARAI, NEW DELHI, DEL
HI - 110016, INDIA

A05839584

10

10000422

10/08/2010 *

1,780,400,000.00

INDIAN OVERSEAS BANK

YUSUF SARAI BRANCH, C-1, GREEN PARK EXTN., MAIN A
URBINDO MARG, NEW DELHI, DELHI - 110016, INDIA

A91981241

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible 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.65.39

UK Pound

1

Rs.99.05

Euro

1

Rs.73.19

 

 

INFORMATION DETAILS

 

Analysis Done by :

TRI

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILITY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

1

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

YES

--EPF

YES/NO

NO

TOTAL

 

14

 

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.