MIRA INFORM REPORT

 

 

Report No. :

344570

Report Date :

15.10.2015

 

 IDENTIFICATION DETAILS

 

Name :

CHADHA RUBBER PRIVATE LIMITED (w.e.f. 13.06.2003)

 

 

Formerly Known As :

CHADHA RUBBER LIMITED

CHADHA RUBBER PRIVATE LIMITED

 

 

Registered Office :

Compound Chadha Palace, Prince Road, Moradabad – 244001, Uttar Pradesh

Mobile. No.:

91-9999107516 (Mr. Ajay Kumar)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

10.03.1988

 

 

Com. Reg. No.:

20-009435

 

 

Capital Investment / Paid-up Capital :

Rs. 15.194 Million

 

 

CIN No.:

[Company Identification No.]

U25111UP1988PTC009435

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

LKNC05227F

 

 

PAN No.:

[Permanent Account No.]

AABCR4523R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of all types of tubes, inner tubes, flaps and etc.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 1400

 

 

Status :

Moderate

 

 

Payment Behavior :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated on 10th March, 1988. It has moderate track record.

 

Management of the company has failed to file its financial for the year 2014 with the Government Department.

 

As per available financial of 2013, the rating takes into consideration hefty debt level which leads to create risk to liquidity position of the company. Further, the company is continuously incurring a losses from its operations.

 

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 caution.

 

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

 

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 BY

 

Name :

Mr. Ajay Kumar

Designation :

Marketing Department

Contact No.:

91-9999107516

Date :

14.10.2015

 

 

LOCATIONS

 

Registered Office :

Compound Chadha Palace, Prince Road, Moradabad – 244001, Uttar Pradesh, India

Tel. No.:

91-591-2310856/2311025

Mobile No.:

91-9999107516 (Mr. Ajay Kumar)

Fax No.:

Not Available

E-Mail :

mbd@chadharubber.com

Website :

http://www.Chadharubber.com  

 

 

Factory :

Plot No. B-143, 1St Floor, Okhla Industrial Area, Phase -1, New Delhi – 110020, India

Tel. No.:

91-11-41628419

Fax No.:

91-11-40587050

 

 

DIRECTORS

 

AS ON 30.09.2013

 

Name :

Mr. Parminder Singh Chadha

Designation :

Director

Address :

455, Civil Lines, Moradabad - 244001, Uttar Pradesh, India

Date of Birth/Age :

14.10.1975

Date of Appointment :

01.04.1995

DIN No.:

00229347

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

U25111UP1988PTC009435

CHADHA RUBBER PRIVATE LIMITED

Director

01/04/1995

01/04/1995

-

Active

NO

2

U70109DL2006PTC153523

WATSONIA TOWN PLANNERS PRIVATE LIMITED

Director

30/09/2008

30/07/2008

-

Active

NO

3

U45309DL2011PTC216969

WAVE INFRATRADE PRIVATE LIMITED

Director

04/04/2011

04/04/2011

-

Active

NO

 

 

Name :

Mr. Balbir Kaur Chadha

Designation :

Director

Address :

455, Civil Lines, Main Post Office, Moradabad - 244001, Uttar Pradesh, India

Date of Birth/Age :

20.10.1955

Date of Appointment :

16.03.2004

DIN No.:

00993000

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

U25111UP1988PTC009435

CHADHA RUBBER PRIVATE LIMITED

Director

16/03/2004

16/03/2004

-

Active

NO

2

U70109DL2006PTC153523

WATSONIA TOWN PLANNERS PRIVATE LIMITED

Director

30/09/2008

30/07/2008

-

Active

NO

 

 

Name :

Mr. Surjeet Singh Chadha

Designation :

Director

Address :

H. No. 455, Civil Lines, Moradabad - 244001, Uttar Pradesh, India

Date of Birth/Age :

15.07.1952

Date of Appointment :

10.03.1988

DIN No.:

00992696

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

U25111UP1988PTC009435

CHADHA RUBBER PRIVATE LIMITED

Director

10/03/1988

10/03/1988

-

Active

NO

2

U70109DL2006PTC153523

WATSONIA TOWN PLANNERS PRIVATE LIMITED

Director

30/09/2008

30/07/2008

-

Active

NO

3

U74210DL1998PTC096766

ISTHMUS INDUSTRIES PRIVATE LIMITED

Director

22/09/2009

02/01/2009

-

Active

NO

4

U67190DL2013PTC260054

ISTHMUS CAPITAL HOLDINGS PRIVATE LIMITED

Director

07/11/2013

07/11/2013

-

Active

NO

5

U65990DL2013PTC261348

ISTHMUS CAPITAL ADVISORS PRIVATE LIMITED

Director

29/11/2013

29/11/2013

-

Active

NO

 

 

Name :

Mr. Narender Singh Chadha

Designation :

Director

Address :

455, Civil Lines, Moradabad - 244001, Uttar Pradesh, India

Date of Birth/Age :

14.08.1954

Date of Appointment :

10.03.1988

DIN No.:

00260109

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

U25111UP1988PTC009435

CHADHA RUBBER PRIVATE LIMITED

Director

10/03/1988

10/03/1988

-

Active

NO

2

U74999DL1979PTC009538

PIONEER THEATRES PRIVATE LIMITED

Director

03/01/1991

03/01/1991

-

Active

NO

3

U45201UP2004PTC029163

KC DEVELOPERS (INDIA) PRIVATE LIMITED

Director

13/10/2004

13/10/2004

-

Active

NO

4

U45400UP2011PTC046614

PLATINUM INFRABUILD PRIVATE LIMITED

Director

14/09/2011

14/09/2011

-

Active

NO

5

U70109DL2012PTC246352

WOODPECKER BUILDHOMES PRIVATE LIMITED

Director

10/02/2013

10/02/2013

28/02/2014

Active

NO

6

U70200DL2012PTC245631

APK BUILDHOMES PRIVATE LIMITED

Director

20/07/2013

20/07/2013

-

Active

NO

7

U70102UP2013PTC059853

SKYDREAMS INFRACREATIONS PRIVATE LIMITED

Director

02/10/2013

02/10/2013

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Ajay Kumar

Designation :

Marketing Department

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2013

 

Names of Shareholders

 

No. of Shares

Harbhajan Singh Chadha

 

31390

Surjeet Singh Chadha

 

13480

Prakash Kaur

 

750

Jasbir Kaur

 

250

Balbir Kaur

 

11530

Rajinder Kaur

 

1250

Ravinder Kaur

 

1100

Jitender Kaur

 

500

Narender Singh Chadha

 

500

Rajinder Singh Chadha

 

1000

Inderjeet Singh Chadha

 

2500

Gurjeet Singh Chadha

 

1000

Gurdeep Singh Chadha

 

8820

Hardeep Singh Chadha

 

4750

Dinita Chadha

 

1500

Bandana Chadha

 

1500

Satender Singh Chadha

 

5388

Parminder Singh Chadha

 

36680

Kulwant Singh Chadha

 

15000

T.S. Chadha

 

13050

Total

 

151938

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2013

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of all types of tubes, inner tubes, flaps and etc.

 

 

Products :
  • Tyre
  • Tube Flaps
  • Inner Tubes

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: (AS ON 31.03.2013)

 

Licensed Capacity

9000 KGS

Installed Capacity

9000 KGS

 

ACTUAL PRODUCTION:

 

Particular

Unit

Actual production

Tubes

(Nos)

135753

FCCB and Envelopes

(Nos)

194

Scrap

(Kgs)

3685.1

 

 

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 Name

Allahabad Bank

Branch

International Branch, Puri Market Count Road, Moradabad - 244001, Uttar Pradesh, 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

 

  • Standard Chartered Bank
  • HDFC Bank

 

 

Facilities :

Secured Loan

31.03.2013

(Rs. in Million)

31.03.2012

(Rs. in Million)

Long-term Borrowings

 

 

Loans From Banks

 

 

Term Loan from Allahabad Bank

(Against hypothecation of machinery)

5.797

7.261

Term Loan from Standard Chartered Bank

(Against hypothecation of machinery)

0.000

0.000

Loans From Others

 

 

Loan from Tata Capital Limited

(Against hypothecation of Car)

0.000

0.771

Term Loan from Reliance Capital Limited

(Against hypothecation of machinery)

1.662

2.558

Short-term borrowings

 

 

Working Capital loans

 

 

Allahabad Bank CC

0.636

19.771

Allahabad Bank PCL

6.311

29.970

Total

14.406

60.331

 

Financial Institution
  • Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India
  • Tata Capital Limited
  • Cholamandalam DBS Finance Limited

 

 

Auditors :

 

Name :

Mahesh Chandra and Company

Chartered Accountants

Address :

MIG, A-138 Ramganga Vihar 1st Floor, Stadium Road, Moradabad – 244001, Uttar Pradesh, India

PAN. No.:

AHXPA9947J

 

 

Memberships :

-----

 

 

Collaborators :

-----

 

 

Associates/Subsidiaries :

Not Divulged 

 

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

Rs.100/- each

Rs. 20.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

151938

Equity Shares

Rs.100/- each

Rs. 15.194 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

15.194

15.194

15.194

(b) Reserves & Surplus

(14.710)

(5.969)

17.464

(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)

0.484

9.225

32.658

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

72.840

72.561

74.604

(b) Deferred tax liabilities (Net)

(9.441)

(5.788)

5.169

(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)

63.399

66.773

79.773

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

6.947

49.741

84.167

(b) Trade payables

36.648

54.985

53.737

(c) Other current liabilities

3.359

24.249

37.354

(d) Short-term provisions

3.008

3.228

3.228

Total Current Liabilities (4)

49.962

132.203

178.486

 

 

 

 

TOTAL

113.845

208.201

290.917

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

53.560

58.715

63.948

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

2.385

3.261

2.561

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

4.601

3.537

(e) Other Non-current assets

1.611

1.900

1.900

Total Non-Current Assets

57.556

68.477

71.946

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

15.977

44.577

116.041

(c) Trade receivables

20.983

67.589

67.713

(d) Cash and cash equivalents

13.240

16.624

21.580

(e) Short-term loans and advances

4.562

9.475

12.020

(f) Other current assets

1.527

1.459

1.617

Total Current Assets

56.289

139.724

218.971

 

 

 

 

TOTAL

113.845

208.201

290.917

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Net Sales

424.112

180.356

284.733

 

Other Income

73.377

2.918

5.642

 

TOTAL

497.489

183.274

290.375

 

 

 

 

 

TOTAL EXPENSES

522.469

201.754

275.183

 

 

 

 

 

INTEREST 

4.937

10.693

10.762

 

 

 

 

 

DEPRECIATION

5.178

5.217

4.019

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(12.613)

(34.390)

0.411

 

 

 

 

 

PROVISION FOR TAXATION

3.873

0.000

0.077

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

(8.740)

(23.434)

0.334

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 (57.52)

(154.23) 

2.19 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

 

 

 

Loans From Banks

 

 

 

Term Loan from Allahabad Bank

1.200

1.200

1.103

Term Loan from Standard Chartered Bank

0.072

0.861

0.660

Loan from HDFC Bank

0.000

0.096

0.981

Loan from Kotak Mahindra Bank

0.000

0.000

0.188

Loan from Barclays Bank

0.000

0.000

1.079

Loans From Others

 

 

 

Loan from Tata Capital Limited

0.771

1.731

1.572

Term Loan from Reliance Capital Limited

0.896

0.896

0.770

Loan from Tata Capital Limited

0.000

0.189

0.382

Loan from Cholamandalam DBS Finance Limited

0.000

0.175

0.212

Total

2.939

5.148

6.947

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)

(2.06)

(12.99)

0.12

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(11.32)

(16.78)

0.14

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(26.06)

(3.73)

0.01

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

164.85

13.26

4.86

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.13

1.06

1.23

 

 

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

15.194

15.194

15.194

Reserves & Surplus

17.464

(5.969)

(14.710)

Money received against share warrants

0.000

0.000

0.000

Net worth

32.658

9.225

0.484

 

 

 

 

long-term borrowings

74.604

72.561

72.840

Short term borrowings

84.167

49.741

6.947

Current maturities of long-term debts

6.947

5.148

2.939

Total borrowings

165.718

127.450

82.726

Debt/Equity ratio

5.074

13.816

170.921

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Net Sales

284.733

180.356

424.112

 

 

(36.658)

135.153

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Net Sales

284.733

180.356

424.112

Profit

0.334

(23.434)

(8.740)

 

0.12%

(12.99%)

(2.06%)

 

 

 

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 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

 

UNSECURED LOAN

 

PARTICULARS

31.03.2013

(Rs. in Million)

31.03.2012

(Rs. in Million)

Long-term Borrowings

 

 

Loan From Corporate Bodies

0.575

0.575

Loan From related parties

64.806

61.396

Total

65.381

61.971

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10431436

22/05/2013

56,000,000.00

ALLAHABAD BANK

INTERNATIONAL BRANCH, PURI MARKET COUNT ROAD, MOR 
ADABAD - 244001, UTTAR PRADESH, INDIA

B77231629

2

10212914

26/02/2010

5,014,075.00

RELIANCE CAPITAL LIMITED

"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI  - 400710, MAHARASHTRA, INDIA

A83726810

3

90273231

12/10/2004 *

45,300,000.00

ALLAHABAD BANK

MORADABAD, MORADABAD, UTTAR PRADESH, INDIA

-

4

90269165

21/11/2000 *

41,700,000.00

ALLAHABAD BANK

CIVIL LINES, MORADABAD, UTTAR PRADESH, INDIA

-

5

90268438

27/04/2005 *

8,000,000.00

ALLAHABAD BANK

CIVIL LINES, MORADABAD, UTTAR PRADESH, INDIA

-

 

* Date of charge modification

 

FIXED ASSETS

 

  • Buildings
  • Electrical Fittings
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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. 65.11

UK Pound

1

Rs. 99.50

Euro

1

Rs. 74.24

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SANS

 

 

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

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--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

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

 

26

 

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 unfavorable 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.