MIRA INFORM REPORT

 

 

Report No. :

345850

Report Date :

20.10.2015

 

IDENTIFICATION DETAILS

 

Name :

CONTINENTAL AUTOMOTIVE COMPONENTS (INDIA) PRIVATE LIMITED

 

 

Registered Office :

Plot No 53B, Bommasandra Industrial Area, Attibele Hobli, Anekal Taluk, Bangalore – 560099, Karnataka

Tel. No.:

91-80-66115100

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.06.2007

 

 

Com. Reg. No.:

08-043146

 

 

Capital Investment / Paid-up Capital :

Rs.4560.190 Million

 

 

CIN No.:

[Company Identification No.]

U72900KA2007PTC043146

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing and trading of instrumentation products, clusters, sensors and other allied components.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (57)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 11000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a wholly subsidiary of “Continental Automotive Gmbh, Germany”. Which is a fortune 500 company, which is one of the world’s top five automotive parts suppliers. Continental began operating in India in 2007 with headquarter in Bangalore. At present the company has four manufacturing locations, Bangalore, Gurgaon, Manesar and Pune, located strategically in the automotive hubs of the country. It has fair track.

 

The company has been incurring continuous accumulated losses from its operations, however, the company has strong networth base and minimal debt level. Further, the company has reported strong revenue base.

 

Trade relations are fair. Business is active. Payment terms are reported to be regular and as per the commitments.

 

In view of managerial and technical support from its holding company, the subject can be considered for business dealings with usual 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 DECLINED

 

MANAGEMENT NON CO-OPERATIVE (91-80-66115100)

 

 

LOCATIONS

 

Registered Office :

Plot No 53B, Bommasandra Industrial Area, Attibele Hobli, Anekal Taluk, Bangalore – 560099, Karnataka, India

Tel. No.:

91-80-66115100/66115580

Fax No.:

91-80-66115115

E-Mail :

srinivasaiah.govindappa@continental-corporation.com

Website:

www.continental-corporation.com

 

 

Manufacturing unit :

No-16, Sector V, IMT Manesar, Gurgaon – 122001, Haryana, India

 

 

Manufacturing unit:

Location at

 

  • Bangalore
  • Gurgaon, Manesar
  • Pune

 

 

DIRECTORS

 

AS ON 23.09.2014

 

Name :

Claude Alex D'gama Rose

Designation :

Managing director

Address :

Flat No. 111, The Embassy, No. 15, Ali Askar Road, Bangalore - 560052, Karnataka, India

Date of Birth/Age :

29.10.1956

Date of Appointment :

01.01.2010

DIN No.:

01494440

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

U72900KA2007PTC043146

Continental Automotive Components (India) Private Limited

Managing director

1/1/2010

15/06/2007

-

Active

NO

2

U29130TN2007PLC064471

AUTOMOTIVE INFOTRONICS LIMITED

Director

17/08/2007

17/08/2007

16/11/2007

Under liquidation

NO

3

U74900HR2008PTC037519

Continental Automotive Brake Systems (I) Private Limited

Alternate director

25/11/2011

29/04/2008

-

Active

NO

4

U34200HR2007FTC037177

CONTINENTAL AUTOMOTIVE INDIA PRIVATE LIMITED

Director

29/06/2010

2/11/2009

-

Active

NO

5

U25203DL2006PLC153993

Continental India Limited

Director

25/09/2013

15/07/2011

-

Active

NO

6

U29299PN2005PTC021027

EMITEC EMISSION CONTROL TECHNOLOGIES INDIA PRIVATE LIMITED

Additional director

27/04/2015

27/04/2015

-

Active

NO

 

 

Name :

Michael Joerg Ruf

Designation :

Director

Address :

Schw.-Sylvia-Str. 20A, Malsch, 76316, Germany

Date of Birth/Age :

25.07.1964

Date of Appointment :

23.09.2014

DIN No.:

02703911

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

U29130TN2007PLC064471

AUTOMOTIVE INFOTRONICS LIMITED

Director

20/09/2010

30/06/2009

-

Under liquidation

NO

2

U72900KA2007PTC043146

Continental Automotive Components (India) Private Limited

Director

23/09/2014

10/12/2013

-

Active

NO

 

 

Name :

Carsten Pfuhl

Designation :

Director

Address :

Room No.705, Building 6, Lane 1068,Xinzha Road, Shanghai, 200041, China

Date of Birth/Age :

27.02.1976

Date of Appointment :

28.06.2010

DIN No.:

02950152

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

U72900KA2007PTC043146

Continental Automotive Components (India) Private Limited

Director

28/06/2010

29/03/2010

-

Active

NO

 

 

Name :

Minaz Hassam

Designation :

Director

Address :

No.525, 16th Cross, Binnamangala, 2nd Stage Extension, Indira Nagar,, Bangalore - 560038, Karnataka, India

Date of Birth/Age :

23.12.1954

Date of Appointment :

31.07.2015

DIN No.:

05284769

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

U72900KA2007PTC043146

Continental Automotive Components (India) Private Limited

Director

31/07/2015

24/05/2012

-

Active

NO

2

U34200HR2007FTC037177

CONTINENTAL AUTOMOTIVE INDIA PRIVATE LIMITED

Director

29/09/2014

11/9/2014

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Srinivasaiah Govindappa

Designation :

Secretary

Address :

No.12, Subbaiah Lane, Murugeshpalya, Airport Road,  Bangalore, 560017, Karnataka, India

Date of Birth/Age :

08.12.1965

Date of Appointment :

24.01.2008

PAN No:

ACRPS2799H

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 23.09.2014

 

Names of Shareholders

 

No. of Shares

Continental Automotive Gmbh, Germany

 

456019374

Cas One Holdinggesellschaft Gmbh, Germany

 

1

Total

 

456019375

 

AS ON 30.03.2015

 

Names of Allottees

 

No. of Shares

Continental Automotive Gmbh, Germany

 

176000000

Total

 

176000000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 23.09.2014

 

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 :

Manufacturing and trading of instrumentation products, clusters, sensors and other allied components.

 

 

Products :

Item Code No.

Product Description

87089900

Instrument cluster and Immobilisers

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

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 :

Information declined by the management 

 

 

Bankers :

Banker Name

Not Divulged

Branch Address

Not Divulged

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

 

Auditors :

 

Name :

B S R and Associates LLP

Chartered Accountant

Address :

1st Floor, Lodha Excelus Apollo Mills Compound N.M. Joshi Marg, Mahalakshmi

Mumbai - 400 011, Maharashtra, India

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

AADFB6889R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Ultimate holding company:
  • Continental AG, Germany

 

 

Holding company:
  • Continental Automotive Gmbh, Germany

 

 

Parties under common control with whom transactions have taken place during the year:
  • Benecke-Kaliko AG, Germany
  • Continental India Limited. India
  • Conti Tech India Pvt Limited, Sonepat-India
  • Continental Teves AG & Company GmbH , Germany
  • Continental Automotive Benelux BVBA, Benelux
  • Continental Automotive Corporation, South Korea
  • Continental Automotive Brake Systems (I) P. Limited, Gurgaon-India
  • Continental Automotive Hungary Kft, Hungary
  • Continental Automotive Sys. Ti
  • Continental Automotive Mexicana S.A de C.V., Mexico
  • Continental Automotive Corporation K.K., Japan
  • Continental Automotive Corporation (LYG) Company Limited, Lianyungang China
  • Continental Automotive Corporation
  • Continental Automotive Jinan Company, China
  • Continental Brake Systems (Shanghai) Company Limited. China
  • Conti Temic Microelectronic, Germany
  • Continental Automotive Systems (Shanghai) Company Limited., China
  • Continental Temic Electronics Inc, Calambia
  • Continental Automotive Systems Inc, USA
  • Temic Mexico
  • Continental Automotive Interior Wuhu Company Limited. China
  • Continental Automotive Changchun Company Limited, Changchun
  • Continental Powertrain Romania SRL, Romania
  • Continental Automotive Gmbh, Germany
  • Continental Aftermarket GmbH., Germany
  • Continental Trading GmbH, Germany
  • Continental Mechanical Components GmbH, Germany
  • Continental Pty Limited., Australia
  • Continental Brasil Industria Automotive Limiteda, Brazil
  • Continental Industria e Comércio, Brazil
  • Continental Automotive Switzerland AG, Switzerland
  • Continental Automotive Holding Company Limited, Shanghai
  • Continental Automotive Changchun Company Limited, China
  • Continental Automotiv Wuhu Company Limited, China
  • Continental Automotive Czech Republic s.r.o., Czech Republic
  • Continental Automotive Czech Republic s.r.o., Czech Republic
  • Continental Automotive Spain, S.A., Spain
  • Continental Automotive Rambouillet France SAS, France
  • Continental Automotive France SAS, France
  • Continental Automotive Italy SpA, Italy
  • Continental Automotive Japan K.K., Japan
  • Continental Automotive Electronics LLC, South Korea
  • Continental Automotive Systems Corporation (SASCO), South Korea
  • Continental Automotive Korea Limited, South Korea
  • Continental Automotive Guadalajara Mexico S.A.de C.V., Mexico
  • Continental Guadalajara Services Mexico, S.A. de C.V.
  • Continental Automotive Malaysia Sdn. Bhd., Malaysia
  • Continental Automotive Components Malaysia Sdn. Bhd., Malaysia
  • Continental Automotive Romania Srl, Romania
  • LLC Continental Automotive Sys. Russia
  • Continental Automotive (Thailand) Company Limited., Thailand
  • Continental Automotive Systems US Inc, USA
  • Synerject SAS, France

 

 

CAPITAL STRUCTURE

 

AFTER 23.09.2014

 

Authorised Capital : Rs. 9000.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 6978.413 Million

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

470000000

Equity Shares

Rs.10/- each

Rs. 4700.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

456019375

Equity Shares

Rs.10/- each

Rs. 4560.190 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

(15 Months)

31.12.2012

(12 Months)

31.12.2011

(12 Months)

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

4560.190

4180.600

2830.100

(b) Reserves & Surplus

(828.950)

(496.550)

(2420.470)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

1709.500

Total Shareholders’ Funds (1) + (2)

3731.240

3684.050

2119.130

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

27.990

9.270

31.050

(d) long-term provisions

106.470

67.170

47.510

Total Non-current Liabilities (3)

134.460

76.440

78.560

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

75.740

541.270

1119.100

(b) Trade payables

1797.830

1664.230

2031.590

(c) Other current liabilities

805.660

547.780

1417.320

(d) Short-term provisions

25.970

49.470

79.270

Total Current Liabilities (4)

2705.200

2802.750

4647.280

 

 

 

 

TOTAL

6570.900

6563.240

6844.970

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2058.510

2025.280

1926.630

(ii) Intangible Assets

395.040

661.580

815.270

(iii) Capital work-in-progress

254.690

249.030

352.190

(iv) Intangible assets under development

332.120

201.210

244.230

(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

344.590

257.320

257.470

(e) Other Non-current assets

0.000

1.150

0.000

Total Non-Current Assets

3384.950

3395.570

3595.790

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

907.390

863.290

850.570

(c) Trade receivables

903.790

1078.790

1805.910

(d) Cash and cash equivalents

118.480

376.210

7.520

(e) Short-term loans and advances

1012.030

788.820

541.850

(f) Other current assets

244.260

60.560

43.330

Total Current Assets

3185.950

3167.670

3249.180

 

 

 

 

TOTAL

6570.900

6563.240

6844.970

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

(15 Months)

31.12.2012

(12 Months)

31.12.2011

(12 Months)

 

SALES

 

 

 

 

Income

10154.070

10071.170

8230.080

 

Other Income

 

 

 

 

TOTAL

10154.070

10071.170

8230.080

 

 

 

 

 

Less

EXPENSES

11169.730

10934.600

9184.550

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(1015.660)

(863.430)

(954.470)

 

 

 

 

 

Less

TAX

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(1015.660)

(863.430)

(954.470)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export of goods calculated on F.O.B. basis

NA

303.240

231.900

 

Service revenue

NA

1175.650

972.620

 

TOTAL EARNINGS

NA

1478.890

1204.520

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw materials

NA

266.550

201.460

 

Components and spare parts

NA

2237.150

2231.180

 

Capital goods including technical know how

NA

465.030

815.560

 

TOTAL IMPORTS

NA

2968.730

3248.200

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(2.23)

(2.49)

(3.37)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

(15 Months)

31.12.2012

(12 Months)

31.12.2011

(12 Months)

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

32.260

(194.910)

(790.970)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

(15 Months)

31.12.2012

(12 Months)

31.12.2011

(12 Months)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(16.97)

(14.12)

(15.28)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.27)

(0.23)

(0.45)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.02

0.15

0.53

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.18

1.13

0.70

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.12.2011

31.12.2012

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

2830.100

4180.600

4560.190

Reserves & Surplus

(2420.470)

(496.550)

(828.950)

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

1709.500

0.000

0.000

Net worth

2119.130

3684.050

3731.240

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

1119.100

541.270

75.740

Total borrowings

1119.100

541.270

75.740

Debt/Equity ratio

0.528

0.147

0.020

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2011

31.12.2012

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

8230.080

10071.170

10154.070

 

 

22.370

0.823

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2011

31.12.2012

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

8230.080

10071.170

10154.070

Profit

(954.470)

(863.430)

(1015.660)

 

(11.60%)

(8.57%)

(10.00%)

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

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

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

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

CHANGE IN FINANCIAL YEAR

 

The Financial year of the Company has been changed to April to March in place January to December followed earlier. In view of the financial year for the period is from 01.01.2013 to 31.03.2014

 

BACKGROUND

 

Subject was incorporated on 15 June 2007 as a private limited company under the provisions of the Companies Act, 1956, (`the Act') with its registered office in Bangalore, India.

 

The Company is primarily in the business of manufacturing and trading of instrumentation products, clusters, sensors and other allied components for the automobile industry. The Company is a subsidiary of Continental Automotive GmbH, Germany and its ultimate holding company is Continental AG, Germany

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

(15 Months)

As on

31.12.2012

(12 Months)

SHORT TERM BORROWING

 

 

Working capital loans from banks

75.740

0.000

Foreign currency term loans from others

0.000

541.270

Total

75.740

541.270

 

 

FIXED ASSETS

 

Tangible assets

 

 

Intangible assets

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.64.82

UK Pound

1

Rs.100.12

Euro

1

Rs.73.75

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

57

 

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.