MIRA INFORM REPORT
|
Report No. : |
344583 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VALEO INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Block A, Tecci Park, No. 285, Rajiv Gandhi Salai (OMR Road),
Sholinganallur, Chennai - 600119, Tamilnadu |
|
Tel. No.: |
91-44-66235182 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.12.2005 |
|
|
|
|
Com. Reg. No.: |
18-081914 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1449.247 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130TN2005PTC081914 |
|
|
|
|
IEC No.: |
0506023787 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC11087G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV1939N |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Alternators and Starter Motors |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
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 |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject was incorporated on 29th December, 2005. It is
subsidiary of Valeo Bayen, France. It is engaged into business of manufacturing
of alternators and starter motors. It has moderate track record. The company has incurred a huge accumulated loss which has eroded the
networth of the company. However, business is active. Payment are reported to be slow. The company can be considered for business dealings on safe and
secured 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 |
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 DENIED
Management non co-operative (Tel. No.: 91-44-66235017/66235000/66235182)
LOCATIONS
|
Registered Office : |
Block A, 4th Floor, Tecci Park, No. 285, Rajiv
Gandhi Salai (OMR Road), Sholinganallur, Chennai - 600119, Tamilnadu, India |
|
Tel. No.: |
91-44-22505000 / 66715500 / 66235000 |
|
Fax No.: |
91-44-22505011 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory : |
Engine and Electrical Systems, Gat No. 24, 744 and 745 Village-Lonikand, Taluka Haveli, India |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Ashok Kumar Belani |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 1412, Building No. 14, Clover Highland, Near NIBM Road, Pune
– 411048, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1960 |
|
Qualification : |
B.E |
|
Date of Appointment : |
12.11.2013 |
|
DIN No.: |
02153002 |
|
|
|
|
Name : |
Mr. Claude Paul Marie Gislain Leichle |
|
Designation : |
Director |
|
Address : |
04. Rue De L" Ariego. Roquettes, 31120, France |
|
Date of Birth/Age : |
13.12.1948 |
|
Date of Appointment : |
30.12.2011 |
|
DIN No.: |
02294104 |
|
|
|
|
Name : |
Mr. Sanjay Sethi |
|
Designation : |
Director |
|
Address : |
3157, sector 23, Gurgaon – 122001, Haryana, india |
|
Date of Birth/Age : |
10.08.1970 |
|
Date of Appointment : |
29.09.2014 |
|
DIN No.: |
02796512 |
|
|
|
|
Name : |
Mr. Jabbarali Mehabubali Inamdar |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 201, Pudumjee Park, S. No 989 MH, Near Nana Peth, Pune –
411002, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1966 |
|
Date of Appointment : |
26.06.2014 |
|
DIN No.: |
06877596 |
|
|
|
|
Name : |
Mr. Visarankkottai Berchmans Dominicsavio |
|
Designation : |
Director |
|
Address : |
Flat 2/1, Vsr Casstle, Pillair Koli Street, Thuraipakkam,
Chennai
– 600097, Tamilnadu, India |
|
Date of Birth/Age : |
24.11.1958 |
|
Date of Appointment : |
29.09.2014 |
|
DIN No.: |
06932421 |
KEY EXECUTIVES
|
Name : |
Mrs. S Meenakshi Sundaram |
|
Designation : |
Secretary |
|
Address : |
No.4.11 Main Road, Nggo Nagar, Tirjsinravur. R.S., Chennai
– 602024, Tamilnadu, India |
|
Date of Birth/Age : |
20.06.1971 |
|
Date of Appointment : |
18.09.2009 |
|
Pan No.: |
AISPS5179E |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
% of holding |
|
Valeo Bayen S.A.S., France |
189504420 |
99.78 |
|
Valeo Finance S.A.S., France |
402600 |
0.21 |
|
Equipment 11, France |
17705 |
0.01 |
|
Total |
189924725 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Alternators and Starter Motors. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||
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|
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Auditors : |
|
|
Name : |
S R B C and Company Chartered Accountant |
|
Address : |
6th and 7th floor, “A” Block, Tidel Park,
(Module 601, 701 and 702) No 4, Rajiv Gandhi Sala, Taramani, Chennai –
600113, Tamilnadu, India |
|
PAN No.: |
ACHFS9117R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
Valeo Bayen, France |
|
|
|
|
Ultimate Holding Company : |
Valeo S.A, France |
|
|
|
|
Entities under common control (restricted to where transactions exist)
: |
·
Valeo Sistemas Automotivos , Brazil ·
Valeo Equipement Electrique Moteur, St Quentin
Fallavie ·
Valeo Sistemas Electronics, SA, Mexico ·
Shanghai Valeo Automotive Electrical Systems
Company Limited ·
Valeo Electric and Electronic Systems Sp.ZO.O.,
Poland ·
Valeo Japan Company Limited ·
Valeo Oto Sist A.S., Turkey ·
Valeo Electrical Systems Korea Limited ·
Valeo Equip. Electriques Moteu-Eda ·
Valeo Air Management, Shanghai ·
Valeo Engine And Electrical Systems, Campinas,
Brazil ·
Valeo Systèmes Electriques, Etaples-Sur-Mer,
France ·
Valeo Management ( Beijing) Company Limited,
China ·
Amalgamations Valeo Clutch India Private Limited CIN No.: U29130TN1997PTC037909 ·
Minda Valeo Security Systems Private Limited CIN No.: U34300DL2007PTC157344 ·
Nanjing Valeo Clutch Comapny Limited, China ·
Priti Suri Associates, India ·
Shanghai Valeo Automobile, China ·
Taizhou Valeo Wenling Aut, China ·
Valeo Systemes Thermique, France ·
Valeo Autosystemy Sp.Zo.O, Poland ·
Valeo Compressor, France ·
Valeo Eclairage Signalisa, France ·
Valeo Electric And Electricals , Poland ·
Valeo Embrayage, France ·
Valeo Engine and Electrical,South Korea ·
Valeo Engine And Electric, France ·
Valeo Equipments Electriques , France ·
Valeo Etudes Electroniques, France ·
Valeo Frizioni, Italy ·
Valeo Interior Controls, France ·
Valeo Japan Company Limited ·
Valeo Lighting Hubei Tech, China ·
Valeo Lighting Systems, France ·
Valeo Management Beijing, China ·
Valeo Management Services, France ·
Valeo Pyeonghwa Co Limited, South Korea ·
Valeo Schalter And Sensor, Germany ·
Valeo Security Systems, France ·
Valeo Service India Autoparts Private Limited CIN No.: U50100TN2012PTC084043 ·
Valeo Service, France ·
Valeo Siam Thermal Systems Company Limited,
Thailand ·
Valeo Systemes Dessuyage, France ·
Valeo Systemes Electrique, France ·
Valeo Systemes Thermiques, France ·
Valeo Thermal Systems Japan Corporation, Japan ·
Valeo Thermique Moteu, France ·
Valeo Ths Tpt, France ·
Valeo Transmissions, Usa ·
Valeo Unisia Transmission, Japan ·
Vec P2 Ams Division,France |
|
|
|
|
Significant Influence : |
·
Valeo Lighting Systems India Private Limited CIN No.: U51505DL2008PTC179801 ·
Priti Suri and Associates (Till March 22, 2012) |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250075300 |
Equity Shares |
Rs.10/- each |
Rs. 2500.753 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
189924725 |
Equity Shares |
Rs.10/- each |
Rs. 1899.274
Millions |
|
|
|
|
|
AFTER 29.09.2014
Authorised Capital: Rs. 3170.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 3165.247
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250753000 |
Equity Shares |
Rs.10/- each |
Rs. 2507.530 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
144924725 |
Equity Shares |
Rs.10/- each |
Rs. 1449.247
Millions |
|
|
|
|
|
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 |
1449.247 |
1189.247 |
689.247 |
|
(b) Reserves & Surplus |
(1808.350) |
(1398.669) |
(463.966) |
|
(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) |
(359.103) |
(209.422) |
225.281 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33.333 |
166.666 |
300.000 |
|
(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 |
20.730 |
36.111 |
16.560 |
|
Total Non-current
Liabilities (3) |
54.063 |
202.777 |
316.560 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
787.913 |
677.503 |
147.973 |
|
(b) Trade
payables |
1260.814 |
711.867 |
871.427 |
|
(c) Other
current liabilities |
299.867 |
219.773 |
132.127 |
|
(d) Short-term
provisions |
51.327 |
39.583 |
30.937 |
|
Total Current
Liabilities (4) |
2399.921 |
1648.726 |
1182.464 |
|
|
|
|
|
|
TOTAL |
2094.881 |
1642.081 |
1724.305 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
472.244 |
364.538 |
480.516 |
|
(ii)
Intangible Assets |
45.605 |
53.582 |
70.375 |
|
(iii)
Capital work-in-progress |
26.262 |
61.225 |
70.551 |
|
(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 |
122.632 |
82.052 |
73.964 |
|
(e) Other
Non-current assets |
1.428 |
1.427 |
1.428 |
|
Total Non-Current
Assets |
668.171 |
562.824 |
696.834 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
445.998 |
296.394 |
374.421 |
|
(c) Trade
receivables |
500.951 |
322.262 |
305.719 |
|
(d) Cash
and cash equivalents |
17.890 |
41.791 |
14.385 |
|
(e)
Short-term loans and advances |
446.797 |
391.762 |
332.946 |
|
(f) Other
current assets |
15.074 |
27.048 |
0.000 |
|
Total Current
Assets |
1426.710 |
1079.257 |
1027.471 |
|
|
|
|
|
|
TOTAL |
2094.881 |
1642.081 |
1724.305 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(294.751) |
(484.823) |
(451.719) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
100.912 |
157.922 |
141.522 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
0.000 |
(286.300) |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ITEMS |
(14.018) |
(5.658) |
(47.389) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(409.681) |
(934.703) |
(640.629) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(409.681) |
(934.703) |
(640.629) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
449.730 |
394.516 |
375.081 |
|
|
TOTAL EARNINGS |
449.730 |
844.246 |
769.597 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.16) |
(4.92) |
(3.37) |
|
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 flow from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.80) |
(59.13) |
(38.74) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.14 |
4.46 |
(2.84) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(2.29) |
(4.03) |
1.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.59 |
0.65 |
0.87 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs.
In Millions) |
|
Share Capital |
689.247 |
1189.247 |
1449.247 |
|
Reserves & Surplus |
(463.966) |
(1398.669) |
(1808.350) |
|
Net worth |
225.281 |
(209.422) |
(359.103) |
|
|
|
|
|
|
long-term borrowings |
300.000 |
166.666 |
33.333 |
|
Short term borrowings |
147.973 |
677.503 |
787.913 |
|
Total
borrowings |
447.973 |
844.169 |
821.246 |
|
Debt/Equity
ratio |
1.989 |
(4.031) |
(2.287) |
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 |
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 |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
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 |
NOTE
The registered office of the company has been shifted from
14A and B, Hansalaya, 15, Barakhamba Road, New Delhi – 110001, India to present
address w.e.f.18.07.2011
CORPORATE INFORMATION
The Company was incorporated on December 29, 2005. The Company is engaged Valeo in the business of providing design and simulation services to its group companies across the globe. With effect from April 1, 2010, Valeo Engine Electrical Systems India Private Limited ('VEESIL') was amalgamated into the Company which is engaged in the business of manufacturing, assembling, sub-assembling, designing, developing, fabrication, export sales, distribution of alternators and starter motors.
OPERATIONS FOR THE
YEAR
Their company results comprises of Manufacturing of Starters / Altrnators, R & D Division, Shared Services, Thermal Operations. The loss for the year Rs.41.000 Millions which is -12% (Previous year -34%). Includes prior period items of Rs. 41.000 Millions. Excluding this exceptional items, the loss was reduced from 23% to 12% due to localization steps taken, optimum utilizing the capacity and shared services income for the full year.
The company is taking steps to recover the loss by localization of material, controlling overhead expenses, revising selling price to customers and developing new profitable business including exports, the company’s thermal operations have started their operational during the year.
.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
· Plant and Equipment
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· 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. 64.73 |
|
UK Pound |
1 |
Rs. 99.30 |
|
Euro |
1 |
Rs. 73.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.