MIRA INFORM REPORT
|
Report No. : |
338971 |
|
Report Date : |
01.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ICMC CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
36, Ambattur Industrial Estate, Chennai – 600058, Tamilnadu |
|
Tel. No.: |
91-44-42298700 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.01.1995 |
|
|
|
|
Com. Reg. No.: |
18-029929 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.62.637 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24294TN1995PLC029929 |
|
|
|
|
IEC No.: |
0494028009 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHE102341D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI7030D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Fertilizers and Printing and
Packing of Cotton Box, Labels, etc. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
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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|
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Comments : |
Subject is an established company having moderate track record. Management has failed to file its financial record with government
department for the year 2014. As per previous financial record of 2013, the company has incurred
huge accumulated losses which have eroded net worth of the company. Business is active. Payments are reported to be slow. In view of weak financial profile, 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
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
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Jagannathan |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9382295102 |
|
Date : |
28.08.2015 |
LOCATIONS
|
Registered Office/ Factory 1: |
36, Ambattur Industrial Estate, Chennai – 600058, |
|
Tel. No.: |
91-44-42298700 / 42298701 |
|
Mobile No.: |
91-9382295107 (Mr. Jassannathan) |
|
Fax No.: |
91-44-42298705 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Admin Office: |
I/3, Industrial Estate Ariyamanglam, Trichy – 620010, Tamil Nadu,
India |
|
Tel. No.: |
91-431-2441208 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
Adinath Food Industrial Compound, Village Bagnbania, Nalagarh –
174101, District Solan, Himachal Pradesh, India |
|
Tel. No.: |
91-44-42080531 |
|
E-Mail : |
|
|
|
|
|
Factory 3: |
Milam Village, Tindivanam Taluk, District Villupuram, Tamilnadu, India |
|
Tel. No.: |
91-4147-241303 |
|
|
|
|
Factory 4: |
1/5, Industrial Estate, Ariyamanglam, Trichy – 620010, Tamilnadu,
India |
|
Tel. No.: |
91-431-244918 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mrs. Mahalakshmi |
|
Designation : |
Director |
|
Address : |
No.40, Gandhi Nagar, Ponnagar, Trichy - 620001, Tamilnadu, India |
|
Date of Birth/Age : |
14.10.1961 |
|
Date of Appointment : |
13.07.1996 |
|
DIN No.: |
06747182 |
|
|
|
|
Name : |
Mr. Mahadevan Kannan |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 2, Ritechoice Kumars, 1st Floor, 24, Yogambal Street, T.Nagar, Chennai - 600017, Tamilnadu, India |
|
Date of Birth/Age : |
02.06.1969 |
|
Qualification : |
BE |
|
Date of Appointment : |
24.01.1995 |
|
DIN No.: |
00982521 |
|
|
|
|
Name : |
Mr. Ravi Mahadevan |
|
Designation : |
Whole-Time Director |
|
Address : |
Door No.13, Habibullah Road, Chennai -600017, Tamilnadu, India |
|
Date of Birth/Age : |
04.04.1960 |
|
Qualification : |
M.Com |
|
Date of Appointment : |
24.01.1995 |
|
DIN No.: |
00982588 |
|
|
|
|
Name : |
Mr. Mahadevan Ganapathy Subramanian |
|
Designation : |
Director |
|
Address : |
G 1194, Guruprasad Flat No R 2, II Floor, VI Avenue, Anna Nagar, Chennai - 600040, Tamilnadu, India |
|
Date of Birth/Age : |
08.11.1956 |
|
Date of Appointment : |
24.01.1995 |
|
DIN No.: |
02478891 |
|
|
|
|
Name : |
Mr. Bhuvana Kannan |
|
Designation : |
Director |
|
Address : |
C4, Ceebros Tirumala, 21,22,23, Venkatraman Street, T Nagar, Chennai - 600017, Tamil Nadu, India |
|
Date of Birth/Age : |
23.09.1974 |
|
Date of Appointment : |
05.09.2012 |
|
DIN No.: |
01955181 |
KEY EXECUTIVES
|
Name : |
Mr. Jagannathan |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
M. Kannan |
3061960 |
|
M. Ravi |
50 |
|
M. Ganapathy Subramanian |
180510 |
|
Bhuvana Kannan |
2905870 |
|
M. Mahalakshmi |
115210 |
|
S. Kalayani Rani |
50 |
|
Bhuvana Kannan |
50 |
|
|
|
|
Total |
6263700 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Fertilizers and Printing and
Packing of Cotton Box, Labels, etc. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Paper Printing |
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Countries : |
Middle East Countries |
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Imports : |
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Products : |
Paper |
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Countries : |
· Austria · Italy · Germany |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
800 (Approximately) |
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Bankers : |
· LLL Lakshmi Vilas Bank limited, Mylapore Branch, 38 North Mada Street, Chennai – 600004, Tamilnadu, India ·
Indian Bank, Thousand Lights Branch, 611, Anna
Salai Chennai – 600006, Tamilnadu, India |
|
Auditors : |
|
|
Name : |
Vasu Jayaraman and Company Chartered Accountants |
|
Address : |
24/4, Dr.Natsan, Road, Ashok Nagar, Chennai-600083, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIPJ1192J |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs. 10/- each |
Rs.70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6263700 |
Equity Shares |
Rs. 10/- each |
Rs.62.637 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 |
62.637 |
62.637 |
62.637 |
|
(b) Reserves & Surplus |
(156.668) |
(152.986) |
(18.654) |
|
(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) |
(94.031) |
(90.349) |
43.983 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
133.473 |
62.834 |
38.174 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
1309.794 |
670.693 |
737.181 |
|
(d)
long-term provisions |
21.105 |
3.500 |
6.066 |
|
Total
Non-current Liabilities (3) |
1464.372 |
737.027 |
781.421 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
1370.341 |
646.678 |
825.404 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
236.767 |
244.673 |
266.573 |
|
(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 |
39.953 |
43.130 |
44.121 |
|
(c) Deferred tax assets
(net) |
2.206 |
0.749 |
0.000 |
|
(d) Long-term Loan
and Advances |
54.085 |
53.275 |
52.707 |
|
(e)
Other Non-current assets |
22.536 |
25.874 |
22.294 |
|
Total
Non-Current Assets |
355.547 |
367.701 |
385.695 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
318.931 |
98.224 |
92.056 |
|
(c)
Trade receivables |
399.801 |
155.470 |
317.353 |
|
(d)
Cash and cash equivalents |
296.062 |
25.283 |
30.300 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1014.794 |
278.977 |
439.709 |
|
|
|
|
|
|
TOTAL |
1370.341 |
646.678 |
825.404 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1288.544 |
744.117 |
980.797 |
|
|
|
Other Income |
19.22 |
6.997 |
48.098 |
|
|
|
TOTAL (A) |
1307.764 |
751.114 |
1028.895 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
924.783 |
541.093 |
651.772 |
|
|
|
Administrative Expenses |
57.853 |
50.035 |
56.723 |
|
|
|
Advertising Expenses |
197.988 |
185.233 |
206.567 |
|
|
|
TOTAL (B) |
1180.624 |
776.361 |
915.062 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
127.140 |
(25.247) |
113.833 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
104.679 |
80.507 |
70.586 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.461 |
(105.754) |
43.247 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.599 |
28.578 |
32.723 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(5.138) |
(134.332) |
10.524 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.457) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(3.681) |
(134.332) |
10.524 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.59) |
(21.45) |
1.68 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
(5.138) |
(134.332) |
(10.523) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.29) |
(18.05) |
1.07 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.87 |
(3.39) |
11.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.39) |
(22.28) |
1.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
1.49 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(1.42) |
(0.70) |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.00 |
0.00 |
0.00 |
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 |
62.637 |
62.637 |
62.637 |
|
Reserves & Surplus |
(18.654) |
(152.986) |
(156.668) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
43.983 |
(90.349) |
(94.031) |
|
|
|
|
|
|
Long-term borrowings |
38.174 |
62.834 |
133.473 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
38.174 |
62.834 |
133.473 |
|
Debt/Equity
ratio |
0.868 |
(0.695) |
(1.419) |
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) |
|
Sales |
980.797 |
744.117 |
1288.544 |
|
|
|
(24.131) |
73.164 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
980.797 |
744.117 |
1288.544 |
|
Profit |
10.524 |
(134.332) |
(3.681) |
|
|
1.07% |
(18.05%) |
(0.29%) |
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 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
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10401404 |
05/02/2013 |
1,219,000,000.00 |
STATE
BANK OF MAURITIUS LTD-LEADER OF THE CONSORTI |
PRINCE
ARCADE, 22A CATHEDRAL ROAD, CHENNAI - 600086, TAMILNADU, INDIA |
B67410803 |
|
2 |
10330704 |
10/01/2012 |
22,500,000.00 |
LAKSHMI
VILAS BANK LTD |
MYLAPORE
BRANCH, 38 NORTH MADA STREET, CHENNAI - 600004, TAMILNADU, INDIA |
B30193593 |
|
3 |
10313157 |
29/09/2011 |
1,481,658.00 |
RELIGARE
FINVEST LIMITED |
D3,
P3B, DISTRICT CENTRE, SAKET, NEW DELHI - 110017, INDIA |
B23526825 |
|
4 |
10253900 |
10/11/2010 |
50,000,000.00 |
STATE
BANK OF MAURITIUS LTD |
PRINCE
ARCADE, 22A CATHEDRAL ROAD, CHENNAI - 600086, TAMILNADU, INDIA |
B00768879 |
|
5 |
10041563 |
09/07/2010
* |
442,800,000.00 |
INDIAN
BANK |
THOUSAND
LIGHTS BRANCH, 611, ANNA SALAI, CHENNAI - 600006, TAMILNADU, INDIA |
A92571249 |
|
6 |
10014956 |
03/08/2006 |
234,200.00 |
SUNDARAM
FINANCE LIMITED |
21
PATULLOS ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A03624558 |
|
7 |
90291020 |
20/12/2005 |
30,000,000.00 |
INDIAN
BANK |
THOUSAND
LIGHTS BRANCH, KANNAMMAI BUILDING; 611 ANNA SALAI, CHENNAI - 600006,
TAMILNADU, INDIA |
- |
|
8 |
90289852 |
12/12/2005 |
1,045,786.00 |
SUNDARAM
FINANCE LTD |
NO. 21,
PATULLOS ROAD, CHENNAI - 6000 |
- |
|
9 |
80025134 |
09/07/2010
* |
442,800,000.00 |
INDIAN
BANK |
THOUSAND
LIGHTS BRANCH, 611, ANNA SALAI, CHENNAI - 600006, |
A92570589 |
|
10 |
90287765 |
07/09/2012
* |
895,000,000.00 |
STATE
BANK OF MAURITIUS LTD-LEADER OF THE CONSORTI |
PRINCE
ARCADE, 22A CATHEDRAL ROAD, CHENNAI -
600086, TAMILNADU, INDIA |
B59281428 |
|
11 |
90047866 |
30/03/2000
* |
279,000.00 |
PUNJAB
NATIONAL BANK |
NAJAFGARH,
SOLAN, HIMACHAL PRADESH, INDIA |
- |
|
12 |
80020442 |
20/01/2012
* |
367,500,000.00 |
STATE
BANK OF MAURITIUS LTD |
PRINCE
ARCADE, 22A, CATHEDRAL ROAD, CHENNAI - 600086,, TAMILNADU INDIA |
B31503592 |
|
13 |
90046102 |
02/02/1994 |
225,000.00 |
PUNJAB
NATIONAL BANK |
NAJAFGARH,
SOLAN, HIMACHAL PRADESH, INDIA |
- |
|
14 |
90045946 |
20/08/2001
* |
450,000.00 |
PUNJAB
NATIONAL BANK |
NAJAFGARH,
SOLAN, HIMACHAL PRADESH, INDIA |
- |
|
15 |
90045584 |
15/01/1997
* |
160,000.00 |
PUNJAB
NATIONAL BANK |
NAJAFGARH,
SOLAN, HIMACHAL PRADESH, INDIA |
- |
|
16 |
90045486 |
21/08/2001
* |
1,450,000.00 |
PUNJAB
NATIONAL BANK |
NAJAFGARH,
SOLAN, HIMACHAL PRADESH, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
133.473 |
62.834 |
|
|
|
|
|
Total |
133.473 |
62.834 |
OPERATIONS
During the year, the Company has incurred a Net Loss of Rs.3.681 (in Million) and expect more performance coming year.
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipment’s
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.66.26 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
YES |
|
--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.