MIRA INFORM REPORT

 

 

Report No. :

344851

Report Date :

14.10.2015

 

IDENTIFICATION DETAILS

 

Name :

RMP FAB SOURCING PRIVATE LIMITED

 

 

Registered Office :

425/3, Kucha Brij Naga, Chandni Chowk, Delhi - 110006

Tel. No.:

91-11-23921736

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

09.05.2003

 

 

Com. Reg. No.:

55-120261

 

 

Capital Investment / Paid-up Capital :

Rs.9.763 Million

 

 

CIN No.:

[Company Identification No.]

U18101DL2003PTC120261

 

 

IEC No.:

0505075296

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCR4945G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of schiffli embroidery and fabrics.

 

 

No. of Employees :

100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (32)

 

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 was incorporated in the year 2003 and it is engaged in the manufacturing of woven fabric, Schiffli embroidery work and dyeing and printing of blended fabrics.

 

For the financial year ended 2014, company has reported 54.80% sales turnover growth as compared to previous sales turnover but company has failed to maintain profitability margins and reported low margins at 0.96%.

 

Rating remain constrained on account of company's moderate financial profile marked by modest net worth along with huge borrowings and moderate debt coverage indicators of the company.

 

However, trade relations are reported as fair. Payments are reported to be slow but correct:

 

In view of aforesaid, the company can be considered for business dealing 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

 

Rating Agency Name

CARE

Rating

Long term bank facilities: BB-

Rating Explanation

Inadequate credit quality and high credit risk.

Date

28.04.2015

 

Rating Agency Name

CARE

Rating

Short term bank facilities: A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

28.04.2015

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Manish Gupta

Designation :

Director

Contact No.:

91-9810168774

Date :

13.10.2015

 

 

LOCATIONS

 

Registered Office :

425/3, Kucha Brij Naga, Chandni Chowk, Delhi – 110006, India

Tel. No.:

91-11-23921736/23925369

Mobile No.:

91-9810168774 (Mr. Manish Gupta)

Fax No.:

Not Available

E-Mail :

sagarwal1910@gmail.com

Location:

Owned

Locality:

Commercial

 

 

Factory 1 :

Plot No.289, Sector-58, Faridabad – 121005, Haryana, India

 

 

Factory 2 :

S-70, Okhla Industrial Area, Phase-II, New Delhi – 110020, India

Tel. No.:

91-11-26385300/26388791/26385336/41616451/40616450

Fax No.:

91-11-41708651

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Manish Gupta

Designation :

Director

Address :

A-2, Vivek Vihar, New Delhi - 110095, India

Date of Birth/Age :

01.09.1970

Date of Appointment :

19.05.2003

DIN No.:

00385978

PAN No.:

AGAPG0903A

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

U18102DL1998PTC096080

RMP TEXTILES PRIVATE LIMITED

Director

7/9/1998

7/9/1998

8/6/2015

Active

NO

2

U18101DL2003PTC120261

RMP FAB SOURCING PRIVATE LIMITED

Director

19/05/2003

19/05/2003

-

Active

NO

3

U18101DL2003PTC120690

RIDDHI SIDDHI TEXTILE MILLS PRIVATE LIMITED

Director

3/6/2003

3/6/2003

-

Active

NO

 

 

Name :

Mr. Rajesh Gupta

Designation :

Director

Address :

A-2, Vivek Vihar, New Delhi - 110095, India

Date of Birth/Age :

21.03.1964

Date of Appointment :

19.05.2003

DIN No.:

00385899

PAN No.:

AAEPG9287F

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

U18102DL1998PTC096080

RMP TEXTILES PRIVATE LIMITED

Director

7/9/1998

7/9/1998

8/6/2015

Active

NO

2

U18101DL2003PTC120261

RMP FAB SOURCING PRIVATE LIMITED

Director

19/05/2003

19/05/2003

-

Active

NO

3

U18101DL2003PTC120690

RIDDHI SIDDHI TEXTILE MILLS PRIVATE LIMITED

Director

3/6/2003

3/6/2003

-

Active

NO

 

 

Name :

Mr. Pankaj Gupta

Designation :

Director

Address :

A-2, Vivek Vihar, New Delhi - 110095, India

Date of Birth/Age :

18.08.1974

Date of Appointment :

19.05.2003

DIN No.:

00386062

PAN No.:

AGSPG2741G

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

U18102DL1998PTC096080

RMP TEXTILES PRIVATE LIMITED

Director

7/9/1998

7/9/1998

8/6/2015

Active

NO

2

U18101DL2003PTC120261

RMP FAB SOURCING PRIVATE LIMITED

Director

19/05/2003

19/05/2003

-

Active

NO

3

U18101DL2003PTC120690

RIDDHI SIDDHI TEXTILE MILLS PRIVATE LIMITED

Director

3/6/2003

3/6/2003

-

Active

NO

 

 

Name :

Manav Gupta

Designation :

Additional director

Address :

C-624, New Friends Colony, New Delhi - 110025, India

Date of Appointment :

16.05.2014

DIN No.:

06869591

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

Rajesh Gupta

 

47580

Manish Gupta

 

242100

Pankaj Gupta

 

200600

G D Gupta

 

10

Ashita Gupta

 

162510

Meenu Gupta

 

172500

Bharti Gupta

 

151000

 

 

 

Total

 

976300

 

AS ON 11.11.2014

 

Names of Allottees

 

No. of Shares

Rajesh Gupta

 

320000

Manish Gupta

 

100000

Pankaj Gupta

 

150000

G D Gupta

 

5000

Manav Gupta

 

16000

Total

 

591000

 

AS ON 20.08.2015

 

Names of Allottees

 

No. of Shares

Rajesh Gupta

 

133700

Manish Gupta

 

150000

Pankaj Gupta

 

149000

Total

 

432700

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of schiffli embroidery and fabrics.

 

 

Products :

Schiffli embroidery and fabrics

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Germany
  • France

 

 

Terms :

 

Selling :

Cash and Credit (30,60,90 Days)

 

 

Purchasing :

Cash and Credit (30,60,90 Days)

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

Banker Name

Tamilnad Mercantile Bank Limited

Branch Address

384-390,First Floor, Loke Nath Building, Chandni Chowk, Delhi - 110006, India

Person Name (With Designation)

Not Divulged

Contact Number

91-11-23979251 (Number not responding)

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)

Cash/Credit : Rs. 44.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Rupee term loans from banks

149.263

144.897

Loans taken for vehicles

3.726

5.150

SHORT TERM BORROWING

 

 

Rupee term loans from banks

25.337

28.536

Working capital loans from banks

0.000

46.989

Loans taken for vehicles

2.689

2.116

Other loans and advances, others

206.638

198.978

Total

387.653

426.666

 

Auditors :

 

Name :

S. Agarwal and Company

Chartered Accountant

Address :

123, Vinoba Puri, Lajpat Nagar, New Delhi—110024, India

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

ACFFS3175H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs. 20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs. 20.000 Million

 

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs. 20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

976300

Equity Shares

Rs.10/- each

Rs. 9.763 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

9.763

9.763

9.763

(b) Reserves & Surplus

96.055

78.856

68.484

(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)

105.818

88.619

78.247

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

160.494

197.927

194.675

(b) Deferred tax liabilities (Net)

13.352

15.387

10.058

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

5.743

4.075

1.311

Total Non-current Liabilities (3)

179.589

217.389

206.044

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

234.664

276.619

177.550

(b) Trade payables

450.967

235.877

272.478

(c) Other current liabilities

10.112

11.057

26.745

(d) Short-term provisions

29.211

18.576

11.594

Total Current Liabilities (4)

724.954

542.129

488.367

 

 

 

 

TOTAL

1010.361

848.137

772.658

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

376.848

380.752

153.873

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

11.834

4.593

221.677

(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

3.547

3.505

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

392.229

388.850

375.550

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

80.165

45.585

44.118

(c) Trade receivables

442.522

325.376

267.801

(d) Cash and cash equivalents

47.343

40.172

50.942

(e) Short-term loans and advances

47.724

47.892

34.068

(f) Other current assets

0.378

0.262

0.179

Total Current Assets

618.132

459.287

397.108

 

 

 

 

TOTAL

1010.361

848.137

772.658

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Turnover/Receipt

1777.534

1148.224

923.943

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

 

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

25.484

22.366

14.781

 

 

 

 

 

 

TAX

10.304

6.664

6.595

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

17.199

10.372

10.561

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

56.853

67.255

16.487

 

 

 

 

 

 

CIF VALUE OF IMPORTED MATERIAL (CAPITAL GOODS)

0.000

6.070

31.498

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

17.62

NA

NA

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)                          

 

 

2000.000

 

The above information has been parted by Mr. Manish Gupta

 

 

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

175.990

(10.968)

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

2.55

2.65

2.68

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.24

0.25

0.19

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.73

5.35

4.76

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.85

0.85

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

9.763

9.763

9.763

Reserves & Surplus

68.484

78.856

96.055

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

78.247

88.619

105.818

 

 

 

 

long-term borrowings

194.675

197.927

160.494

Short term borrowings

177.550

276.619

234.664

Total borrowings

372.225

474.546

395.158

Debt/Equity ratio

4.757

5.355

3.734

 

 

 

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)

Turnover/Receipt

923.943

1148.224

1777.534

 

 

24.274

54.807

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Turnover/Receipt

923.943

1148.224

1777.534

Profit

10.561

10.372

17.199

 

1.14%

0.90%

0.97%

 

 

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)

Yes

16

No. of employees

Yes

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 four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

OPERATIONS AND DEVELOPMENT

 

During the year the Turnover/Receipt of the company was Rs.1777.534 Million as compared to last year of Rs. 1148.224 Million. The Company has earned a net profit before tax of Rs 25.484 Million as compared to previous year profit of Rs. 22.366 Million. The company has made the provision of income tax of Rs. 10.304 Million and in the last year provision was also Rs. 6.664 Million. The Management is trying its best to get the business and profitability during the current year.

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and advances from directors

2.995

13.620

Loans and advances from others

0.000

24.750

Other loans and advances, others

4.510

9.510

Total

7.505

47.880

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10578520

08/05/2015

60,000,000.00

TAMILNAD MERCANTILE BANK LIMITED

384-390, FIRST FLOOR, LOKE NATH BUILDING, (OPPOSI
TE TO FATEHPURI POST OFFICE) CHANDNI CHOWK, DELHI,
DELHI - 110006, INDIA

C58218140

2

10547039

16/01/2015

70,000,000.00

TAMILNAD MERCANTILE BANK LIMITED

384-390 FIRST FLOOR, LOKE NATH BUILDING, (OPPOSIT
E TO FATEHPURI POST OFFICE) CHANDNI CHOWK, DELHI,
DELHI - 110006, INDIA

C42437509

3

10533537

13/11/2014

85,000,000.00

TAMILNAD MERCANTILE BANK LIMITED

384-390, FIRST FLOOR, LOKE NATH BULIDING, (OPP. T
O FATEHPURI POST OFFICE) CHANDNI CHOWK, DELHI, DEL
HI - 110006, INDIA

C35154566

4

10527830

25/09/2014

750,000.00

TAMILNAD MERCANTILE BANK LIMITED

384-390 FIRST FLOOR , LOKE NATH BUILDING, CHAND
NI CHOWK , DELHI-110006, DELHI, DELHI - 110006, IN
DIA

C31203938

5

10520269

22/08/2014

355,000.00

TAMILNAD MERCANTILE BANK LIMITED

384-390 FIRST FLOOR , LOKE NATH BUILDING,, (OPP.
TO FATEHPURI POST OFFICE) CHANDNI CHOWK, DELHI, DE
LHI - 110006, INDIA

C20906624

6

10494333

17/04/2014

355,000.00

TAMILNAD MERCANTILE BANK LIMITED

TAMILNAD MERCANTILE BANK LTD, CHANDNI CHOWK , DEL
HI-110006, DELHI, DELHI - 110006, INDIA

C03140779

7

10494367

24/03/2014

50,000,000.00

TAMILNAD MERCANTILE BANK LIMITED

TAMILNAD MERCANTILE BANK LIMITED, CHOWK, DELHI, D
ELHI - 110006, INDIA

C03142015

8

10475340

09/01/2014

44,400,000.00

TAMILNAD MERCANTILE BANK LIMITED

384-390, FIRST FLOOR,, LOKE NATH BUILDING, CHANDN
I CHOWK, DELHI, DELHI - 110006, INDIA

B95395406

9

10376547

02/09/2014 *

250,000,000.00

TAMILNAD MERCANTILE BANK LIMITED

384-390 FIRST FLOOR , LOKE NATH BUILDING,, (OPP.
TO FATEHPURI POST OFFICE) CHANDNI CHOWK, DELHI, DE
LHI - 110006, INDIA

C21172903

10

10303763

19/07/2011

147,500,000.00

TAMILNAD MERCANTILE BANK LIMITED

384-390, FIRST FLOOR, LOKE NATH BUILDING,, OPP. F
ATEH PURI POST OFFICE, CHANDNI CHOWK, DELHI, DELHI
- 110006, INDIA

B19438027

 

* 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 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.65.02

UK Pound

1

Rs.99.89

Euro

1

Rs.73.92

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KAR

 

 

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

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--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

 

32

 

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.