MIRA INFORM REPORT

 

 

Report No. :

344421

Report Date :

09.10.2015

 

IDENTIFICATION DETAILS

 

Name :

ENDEAVOUR INSTRUMENT PRIVATE LIMITED (ENDEAVOUR FIN)

 

 

Formerly Known As :

ENDEAVOUR FINANCE PRIVATE LIMITED

 

 

Registered Office :

401, Mohini – II, 4th Floor, Opposite Gandhigram Railway Station, Near Sakar - I, Ellisbridge, Ahmedabad – 380006, Gujarat

Tel No.:

91-79-26582694

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.06.1994

 

 

Com. Reg. No.:

04-022270

 

 

Capital Investment / Paid-up Capital :

Rs. 5.220 million

 

 

CIN No.:

[Company Identification No.]

U51909GJ1994PTC022270

 

 

IEC No.:

0801008921

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHME00429C

 

 

PAN No.:

[Permanent Account No.]

AAACE4190N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Weighing and Material Handling Equipments.

 

 

No. of Employees :

500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear 

 

 

Comments :

Subject is an Ahmedabad based company incorporated in the year 1994. It has moderate track record.

 

The rating takes into consideration hefty debt level which leads to create risk to liquidity position of the company. Profitability of the company is also low during FY 2014.

 

However, trade relations are fair. Business is active. Payment are reported to be slow but correct.

 

The company can be considered for business dealings with some cautions. 

 

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 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. Kamlesh Maheshbhai Upadhyaya

Designation :

Director

Contact No.:

91-9824035345

Date :

08.10.2015

 

 

LOCATIONS

 

Registered Office/ Corporate office :

401, Mohini – II, 4th Floor, Opposite Gandhigram Railway Station, Near Sakar - I, Ellisbridge, Ahmedabad – 380006, Gujarat, India

Tel. No.:

91-79-26582694

Mobile No.:

91-9737045338 (Mr. Rajhans Shukla)

91-9824035345 (Mr. Kamlesh Maheshbhai Upadhyaya)

Fax No.:

Not Available

E-Mail :

account3@endeavourweigh.com

info@endelweighing.com

eipl@endeavourweigh.com

Website :

www.endeavourweigh.com

 

 

Factory  :

45/3, Changoder Industrial Estate, Ahmedabad District Co-operative Bank Road, Opposite S.T. Bus Stand, Sarkhej-Bavla Highway, Changoder, Ahmedabad – 382231, Gujarat, India

Tel. No.:

91-2717-250691 / 250475

Fax No.:

91-2717-250475

Website :

www.endeavourweigh.com

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Parag Rameshbhai Shah

Designation :

Director

Address :

2, Sangemermer Complex, Opposite Supreme Tower, Ambawadi, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

29.03.1969

Date of Appointment :

15.06.1994

DIN No.:

00512469

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

U51909GJ1994PTC022270

ENDEAVOUR INSTRUMENT PRIVATE LIMITED (ENDEAVOUR FIN )

Director

15/06/1994

15/06/1994

-

Active

NO

2

U51909GJ2002PTC040752

ENDEL RETAIL AND CUSTOMER CARE PRIVATE LIMITED

Director

17/05/2002

17/05/2002

-

Active

NO

3

U51909GJ2002PTC040873

ENDEL WEIGH SYSTEM PRIVATE LIMITED

Director

19/06/2002

19/06/2002

-

Active

NO

4

U67120GJ1984PTC054214

KUNVARJI FINCORP PRIVATE LIMITED

Director

31/08/2007

15/12/2006

23/08/2008

Active

NO

5

U65999GJ2003PTC042812

KUNVARJI COMMODITIES BROKERS PRIVATE LIMITED

Director

25/06/2007

25/06/2007

6/10/2007

Active

NO

6

L67120MP1992PLC007182

ARIHANT CAPITAL MARKETS LIMITED

Director

9/9/2010

30/01/2010

-

Active

NO

 

 

Name :

Mr. Kamlesh Maheshbhai Upadhyaya

Designation :

Director

Address :

6, Abhikram Apartment, 27, Inklab Society, Opposite Sears Towers, Ahmedabad – 380009, Gujarat, India

Date of Birth/Age :

29.01.1969

Date of Appointment :

15.06.1994

DIN No.:

00512483

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

U51909GJ1994PTC022270

ENDEAVOUR INSTRUMENT PRIVATE LIMITED (ENDEAVOUR FIN )

Director

15/06/1994

15/06/1994

-

Active

NO

2

U67120GJ1996PTC028902

ENDEAVOUR SECURITIES PRIVATE LIMITED

Director

23/02/1996

23/02/1996

30/04/2011

Active

NO

3

U51909GJ2002PTC040873

ENDEL WEIGH SYSTEM PRIVATE LIMITED

Director

20/05/2005

20/05/2005

-

Active

NO

 

Name :

Mr. Kushalkumar Vansraj Bhansali

Designation :

Director

Address :

27, Panchshil Society, Usmanpura,, Ahmedabad - 380013, Gujarat, India

Date of Appointment :

30.09.2014

DIN No.:

01541419

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

U17119GJ1994PTC022385

SUNSHINE WEIGH SYSTEMS PVT LTD

Director

30/06/1994

30/06/1994

14/08/2007

Active

NO

2

U28910GJ2009PTC057066

RASHMI STRIPS PRIVATE LIMITED

Director

30/07/2012

30/07/2012

-

Active

NO

3

U51909GJ1994PTC022270

ENDEAVOUR INSTRUMENT PRIVATE LIMITED (ENDEAVOUR FIN )

Director

30/09/2014

1/1/2014

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

Percentage

Parag Rameshbhai Shah

218100

41.78

Upasi Parag Shah

22500

4.31

Prafulla Rameshbhai Shah

20000

3.83

Suhina L Parikh

100

0.02

Samir L Parikh

100

0.02

Upen L Parikh

100

0.02

Vandita U Parikh

100

0.02

Kamlesh Maheshbhai Upadhyay

250000

47.89

Minaxi Kamlesh Upadhyay

11000

2.11

Total

522000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Weighing and Material Handling Equipments.

 

 

Products :

Weighing and Material Handling Equipments

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Middle East Country
  • Africa Country

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

S R Steels

Name of the Person :

Not Divulged 

Contact No.:

Not Divulged 

Since How Long Known :

Not Divulged 

Experience :

Not Divulged 

Maximum Limit Dealt :

Not Divulged 

 

 

Customers :

End users and OESM

 

Reference :

LNT

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 :

500 (Approximately)

 

 

Bankers :

Banker Name :

State Bank of India

Branch Address :

Laghu Udhyog Branch, Opposite Gandhgram Railway Station, Ahmedabad - 380009, Gujarat, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

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

 

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

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

From Banks

 

 

HDFC Bank Limited - Term Loan

6.274

11.380

HDFC Bank Limited - Vehicle Loan

0.000

0.031

Vehicle Loans from NBFC

 

 

Kotak Mahindra Prime Limited

0.000

0.134

Short Term Borrowing

 

 

Loan repayable on demand From Bank (Secured)

 

 

HDFC Bank Limited - Cash Credit

40.876

40.005

Total

47.150

51.550

 

Notes:

1. Term loan is secured by equitable mortagage of its immovable properties situtate at Changodar, sub-plot no.12,13 and 11/B of Block No.388, Hypothecation of Stocks, Book Debts, Plant & Machineries, Vehicles, and other Fixed Assets of the company and personal guarantee of directors. Further collateral security of Office premises situated at office no.401 & 402, Mohini, owned by the company and relative of director. The rate of Interest is 12.75%. Term Loan is repayble in 60 monthly installments commencing from July 2011.

 

2. Cash Credit Facility is secured by equitable mortagage of its immovable properties situtate at Changodar, sub-plot no.12,13 & 11/B of Block No.388, Hypothecation of Stocks, Book Debts, Plant & Machineries, Vehicles, and other Fixed Assets of the company and personal guarantee of directors. Further collateral security of Office premises situated at office no.401 & 402, Mohini, owned by the company and relative of director. The rate of Interest is 12.25%.

 

Auditors :

 

Name :

M. R. Pandhi and Associates

Chartered Accountants 

Address :

101, Panchdeep Complex, Mayur Colony, Near Mithakhali Six Road, Navarangpura, Ahmedabad – 380009, Gujarat, India

Tel. No.:

91-79-26565949/ 26420994

E-Mail :

mrpandhi@gmail.com

PAN No.:

AABFM1229N

 

 

Memberships :      

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :
  • Endel Weigh Systems Private Limited
  • Endeavour Securities Private Limited
  • Endeavour Wealth Management Private Limited
  • Parag Distributors Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

750000

Equity Shares

Rs.10/- each

Rs.7.500 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

522000

Equity Shares

Rs.10/- each

Rs.5.220 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

5.220

3.000

3.000

(b) Reserves & Surplus

7.574

(1.064)

9.818

(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)

12.794

1.936

12.818

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

6.273

11.545

16.770

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.847

1.005

0.948

Total Non-current Liabilities (3)

7.120

12.550

17.718

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

83.929

94.494

89.397

(b) Trade payables

14.992

22.179

25.030

(c) Other current liabilities

16.834

18.828

21.763

(d) Short-term provisions

0.404

0.459

0.522

Total Current Liabilities (4)

116.159

135.960

136.712

 

 

 

 

TOTAL

136.073

150.446

167.248

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

32.263

38.605

11.209

(ii) Intangible Assets

0.197

0.082

0.078

(iii) Capital work-in-progress

0.000

0.000

28.069

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

1.842

(c) Deferred tax assets (net)

1.214

1.476

0.000

(d)  Long-term Loan and Advances

0.000

0.000

1.012

(e) Other Non-current assets

6.555

5.517

0.000

Total Non-Current Assets

40.229

45.680

42.210

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

37.122

36.305

34.004

(c) Trade receivables

48.525

58.509

63.063

(d) Cash and cash equivalents

2.935

2.163

2.453

(e) Short-term loans and advances

3.299

2.799

7.798

(f) Other current assets

3.963

4.990

17.720

Total Current Assets

95.844

104.766

125.038

 

 

 

 

TOTAL

136.073

150.446

167.248

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

 

TOTAL INCOME                     

152.121

167.364

181.577

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

146.312

172.962

194.869

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

5.809

(5.598)

(13.292)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

4.940

5.284

2.546

 

 

 

 

 

 

PROFIT/LOSS BEFORE TAX                           

0.869

(10.882)

(15.838)

 

 

 

 

 

Less

TAX                                                                 

0.000

0.000

0.001

 

 

 

 

 

 

PROFIT/LOSS AFTER TAX (G-H)                     

0.869

(10.882)

(15.839)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

(8.104)

2.778

18.617

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

(7.235)

(8.104)

2.778

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY ON ACCOUNT OF EXPORT

7.809

15.895

7.752

 

 

 

 

 

 

VALUE OF IMPORTS ON C. I. F BASIS

11.372

5.758

7.424

 

 

 

 

 

 

Earnings Per Share (Rs.)

1.66

NA

NA

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

200.000

 

The above information has been parted By Mr. Kamlesh Maheshbhai Upadhyaya

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

4.848

6.071

8.525

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.57

(6.50)

(8.72)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.64

(7.30)

(11.53)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.07

(5.62)

(1.24)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

7.43

57.91

8.95

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.83

0.77

0.91

 

 

 

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

3.000

3.000

5.220

Reserves & Surplus

9.818

(1.064)

7.574

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

12.818

1.936

12.794

 

 

 

 

long-term borrowings

16.770

11.545

6.273

Short term borrowings

89.397

94.494

83.929

Current Maturities of Long-Term Debts

8.525

6.071

4.848

Total borrowings

114.692

112.110

95.050

Debt/Equity ratio

8.948

57.908

7.429

 

 

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

181.577

167.364

152.121

 

 

(7.828)

(9.108)

 

 

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

181.577

167.364

152.121

Profit

(15.839)

(10.882)

0.869

 

(8.72%)

(6.50%)

0.57%

 

 

 

 

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

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

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 four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

--

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

 

Note:

Registered office of the company has been shifted from 307 Anand Chambers, Near Gujarat high Court, Railway Crossing, Ahmedabad – 380009, Gujarat India to the present address w.e.f.26.05.2012

 

OPERATIONS:

 

The sales turnover of the company amounted to Rs.147.700 million in the current year as compared to Rs.165.200 million in previous year which shows an decrease of about 10.70 %. The company has made a net profit of Rs.0.869 million during the year as against net loss of Rs.10.883 million in last year.

 

 

UNSECURED LOAN

(Rs. In Million)

Particular

As on

31.03.2014

As on

31.03.2013

Short Term Borrowing

 

 

From Directors & Related Parties

37.835

46.411

From Member

3.730

3.352

Inter Corporate Deposit

1.487

4.726

Total

43.052

54.489

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10272894

13/05/2011 *

90,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W 
, MUMBAI, Maharashtra - 400013, INDIA

B12841532

 

* Date of charge modification

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

 

 

 

Counter Guarantee

9.140

19.527

Claims not acknowledged as Debts

0.657

0.000

Sales Tax demands for the year 2006-07 against the company not acknowledged as debts and not provided for as the same are disputed by the company in appeal before

0.109

0.109

Service tax demand (Rs. 0.378 Million services tax and Rs.2.021 Million Penalty) against the company not acknowledged as debts and not provided for as the same are disputed by the company in appeal before Commissioner of

2.398

2.398

 

 

FIXED ASSETS

  • Land –Freehold
  • Buildings
  • Plant and Equipments
  • Furniture and Fixtures
  • Vehicles
  • Computer Software

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.65.18

UK Pound

1

Rs.99.78

Euro

1

Rs.73.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP 

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

KVT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

2

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

28

 

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.