MIRA INFORM REPORT

 

 

Report No. :

338527

Report Date :

02.09.2015

 

IDENTIFICATION DETAILS

 

Name :

MITTAL IRON FOUNDRY PRIVATE LIMITED (w. e. f. 05.09.2012)

 

 

Formerly Known As :

MITTAL IRON FOUNDRY LIMITED

 

 

Registered Office :

Hind Apartment, 545, G T Road, (South), Room No 429, 4th Floor, Howrah-711101, West Bengal

Tel. No.:

91-33-26387002 / 9655

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

09.07.1992

 

 

Com. Reg. No.:

21-055915

 

 

Capital Investment / Paid-up Capital :

Rs. 13.008 Million

 

 

CIN No.:

[Company Identification No.]

U27109WB1992PTC055915

 

 

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 :

Manufacturer of Dies, Jigs and Moulds, Ingot Mould, Cast Iron Manhole Covers, Cast Iron Fan Covers and Cast Iron Engine Parts.

 

 

No. of Employees :

100  (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

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 is an established company incorporated during the year 1992. It has a moderate track record.

 

For the financial year 2014, the company possesses average operational activity and incurred losses during the year.

 

The rating is constrained on account of company’s moderate financial risk profile and huge borrowing taken by the company.

 

However, trade relations are reported as fair. Business is active. Payments terms are slow but correct.

 

In view of moderate financial risk profile, the company can be considered for business dealings with some cautions.

 

 

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

CRISIL

Rating

Long Term Rating (Suspended)

Rating Explanation

Absence of requisite information.

Date

23.01.2015

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Vjay Kumar Agarwal

Designation :

Director

Contact No.:

91-9830044555

Date :

26.08.2015

 

LOCATIONS

 

Registered Office :

Hind Apartment, 545, G T Road, (South), Room No 429, 4th Floor, Howrah-711101, West Bengal, India

Tel. No.:

91-33-26387002 / 9655

Mobile No.:

91-9830044555 (Mr. Vjay Kumar Agarwal)

Fax No.:

91-33-26386002

E-Mail :

vijaymittal3@hotmail.com

mifpl1992@gmail.com

Website :

http://www.mittalfountry.com

Location :

Owned

Locality :

Commercial

 

 

Factory:

National Highway No. 6, P. O. Bankra, Howrah-711403, West Bengal, India

Tel. No.:

91-2653-5684/5917

 

 

DIRECTORS

 

AS ON: 30.09.2014

 

Name :

Mr. Ramji Lal Agarwal

Designation :

Managing director

Address :

3, Lower Rowdon Street, 3rd Floor, Kolkata-700020, West Bengal, India

Date of Birth/Age :

26.11.1942

Date of Appointment :

01.04.1996

DIN No.:

00846981

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

U65923WB1992PTC056477

RLA HOLDINGS PRIVATE LIMITED

Director

10/04/2014

02/09/1992

-

Active

NO

2

U27109WB1992PTC055915

MITTAL IRON FOUNDRY Private Limited

Managing director

01/04/1996

01/04/1996

-

Active

NO

3

U90002WB2002PTC094800

MITTAL FERROCAST PRIVATE LIMITED

Director

25/06/2002

25/06/2002

-

Active

NO

4

U45400WB2011PTC162675

MITTAL TOWERS PRIVATE LIMITED

Director

16/05/2011

16/05/2011

-

Active

NO

5

U51109WB2006PTC108039

SUKHSAGAR SUPPLIERS PRIVATE LIMITED

Director

30/05/2011

30/05/2011

-

Active

NO

6

U70109WB2011PTC170666

STARPOINT FOUNDRY PRIVATE LIMITED

Director

14/12/2011

14/12/2011

-

Active

NO

 

 

Name :

Mr. Vijay Kumar Agarwal

Designation :

Director

Address :

Flat No.3G, 3,Lower Rowdon Street, Lala Lajpat Sarani, Kolkata-700020, West Bengal, India

Date of Birth/Age :

07.03.1975

Date of Appointment :

13.10.1997

DIN No.:

01052656

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

U51109WB1994PTC066368

VKA COMMERCIAL PRIVATE LIMITED

Director

06/12/1994

06/12/1994

15/06/2012

Active

NO

2

U51909WB1994PTC066367

RKA COMMERCIAL PRIVATE LIMITED

Director

06/12/1994

06/12/1994

15/06/2012

Active

NO

3

U27109WB1992PTC055915

MITTAL IRON FOUNDRY Private Limited

Director

13/10/1997

13/10/1997

-

Active

NO

4

U90002WB2002PTC094800

MITTAL FERROCAST PRIVATE LIMITED

Director

25/06/2002

25/06/2002

-

Active

NO

5

U27109WB2004PTC099672

H R ISPAT PRIVATE LIMITED

Director

03/09/2005

03/09/2005

04/02/2008

Active

NO

6

U91200WB1952NPL020468

INDIAN FOUNDRY ASSOCIATION

Director

25/01/2006

25/01/2006

-

Active

NO

7

U45400WB2011PTC162675

MITTAL TOWERS PRIVATE LIMITED

Director

16/05/2011

16/05/2011

20/03/2015

Active

NO

8

U51109WB2006PTC108039

SUKHSAGAR SUPPLIERS PRIVATE LIMITED

Director

30/05/2011

30/05/2011

-

Active

NO

9

U70109WB2011PTC170666

STARPOINT FOUNDRY PRIVATE LIMITED

Director

14/12/2011

14/12/2011

-

Active

NO

10

U70102WB2012PTC186257

VNP TOWERS PRIVATE LIMITED

Director

21/09/2012

21/09/2012

-

Active

NO

11

U25190WB2012PTC187214

AMVAY PLAST FORM PRIVATE LIMITED

Director

15/10/2012

15/10/2012

29/05/2014

Active

NO

12

U51909WB2012PTC185839

SHRISTIDATA VANIJYA PRIVATE LIMITED

Director

16/10/2012

16/10/2012

29/05/2014

Active

NO

 

 

Name :

Mr. Shyam Sunder Agarwal

Designation :

Director

Address :

P/18, Dobson Lane, Sadar, Howrah-711101, West Bengal, India

Date of Appointment :

24.04.2015

DIN No.:

06934325

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

U45400WB2011PTC162675

MITTAL TOWERS PRIVATE LIMITED

Director

20/03/2015

20/03/2015

-

Active

NO

2

U27109WB1992PTC055915

MITTAL IRON FOUNDRY Private Limited

Director

24/04/2015

24/04/2015

-

Active

NO

3

U90002WB2002PTC094800

MITTAL FERROCAST PRIVATE LIMITED

Director

24/04/2015

24/04/2015

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Dhaneswar Sahoo

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 30.09.2014

 

Names of Shareholders

 

No. of Shares

Ramji Lal Agarwal

 

672200

Ashok Kumar Agarwal

 

1000

RLA Holdings Private Limited

 

68000

MDA Commercial Private Limited

 

121800

VKA Commercial Private Limited

 

66200

Mina Devi Agarwal

 

3100

Rajesh Kumar Agarwal

 

1100

Santosh Agrawala

 

100

B. N. Agrawal and Sons (HUF)

 

100

Kavita Agarwal

 

500

Vijay Kumar Agarwal

 

100500

Biswanath Agrawala

 

100

Prakash Kotriwal

 

100

Srivani Merchants Private Limited

 

24000

R. L. Agarwal and Others (HUF)

 

1000

Sweta Agarwal

 

128100

Debi Ladia

 

100

Latangi Vyaapar Private Limited

 

23000

Vivek Agarwal

 

100

RKS Commercial Private Limited

 

10400

Usha Agarwal

 

100

Sambuddha Tracon private Limited

 

20000

Sekhar Commodities Private Limited

 

10000

Cyber Pack Private Limited

 

42200

 

 

 

Total

 

1293800

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 30.09.2014

 

Category

Percentage

Bodies corporate

30.18

Directors or relatives of Directors

69.78

Other top fifty shareholders

0.04

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Dies, Jigs and Moulds, Ingot Mould, Cast Iron Manhole Covers, Cast Iron Fan Covers and Cast Iron Engine Parts.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

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 :

Jai Balaji Steels Limited

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
  • Jainex Metalika Limited

 

 

 

Customers :

End Users and OEM’s

Reference :

Khaitan Electrical Limited

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
  • Polar Fan Industries Limited

 

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

N. S. Road Branch, 8, N. S. Road, Kolkata - 700001, West Bengal, 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
  • Bank of India, Howrah Branch, 43, G.T. Road, 1st Floor, Howrah - 711101, West Bengal, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans From Banks

139.581

0.000

 

 

 

SHORT TERM BORROWING

 

 

Loans Repayable on Demand

 

 

State Bank of India (Cash, Credit a/c)

0.000

132.725

State Bank of India (L/C a/c)

0.000

7.336

State Bank of India (SLC a/c)

0.000

15.207

Bank of India (Overdraft a/c)

2.859

2.583

 

 

 

Total

142.440

157.851

 

Auditors :

 

Name :

T N Data and Associates

Chartered Accountants

Address :

87/B, Cossipore Road, Block-B, Kolkata-700002, West Bengal, India

Tel. No.:

91-33-25573950

Mobile No.:

91-9831034757

PAN No.:

ACYPD2911R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises over which KMP and Relatives of KMP have significant influence:
  • RKA Commercial Private Limited
  • RLA Holdings Private Limited
  • VKA Commercial Private Limited
  • Vijay Iron Foundry
  • MDA Commercial Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1750000

Equity Shares

Rs.10/- each

Rs. 17.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1300800

Equity Shares

Rs.10/- each

Rs. 13.008 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

13.008

13.008

13.008

(b) Reserves & Surplus

32.448

56.313

54.945

(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)

45.456

69.321

67.953

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

139.581

1.083

5.827

(b) Deferred tax liabilities (Net)

0.329

0.387

0.514

(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)

139.910

1.470

6.341

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

4.933

160.834

158.125

(b) Trade payables

2.253

6.458

45.907

(c) Other current liabilities

24.523

14.510

14.243

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

31.709

181.802

218.275

 

 

 

 

TOTAL

217.075

252.593

292.569

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

24.705

14.426

17.552

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

5.471

1.971

14.151

(e) Other Non-current assets

17.720

14.202

15.039

Total Non-Current Assets

47.896

30.599

46.742

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

33.556

64.459

58.614

(c) Trade receivables

100.217

99.905

154.525

(d) Cash and cash equivalents

2.024

3.529

4.353

(e) Short-term loans and advances

33.366

53.775

28.335

(f) Other current assets

0.016

0.326

0.000

Total Current Assets

169.179

221.994

245.827

 

 

 

 

TOTAL

217.075

252.593

292.569

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Revenue from Operations

161.819

264.724

394.629

 

Other Income

1.194

0.612

2.037

 

TOTAL (A)

163.013

265.336

396.666

 

 

 

 

 

Less:

EXPENSES

 

 

 

 

Cost of Materials Consumed

97.394

217.163

345.537

 

Purchases of Stock-in-Trade

32.249

11.484

5.821

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

10.309

(13.201)

(5.968)

 

Employees benefits expense

2.658

2.892

2.153

 

Other expenses

18.365

18.075

21.197

 

TOTAL (B)

160.975

236.413

368.740

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)    (C)

2.038

28.923

27.926

 

 

 

 

 

Less:

FINANCIAL EXPENSES (D)

22.860

24.268

22.423

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

(20.822)

4.655

5.503

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION (F)

3.101

2.660

3.139

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)

(23.923)

1.995

2.364

 

 

 

 

 

Less:

TAX (H)

(0.058)

0.628

0.794

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)                  (I)

(23.865)

1.367

1.570

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(18.35)

1.05

1.21

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

200.000

 

 

The above information has been parted by Mr. Vijay Kumar Agarwal (Director)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

16.683

7.243

7.826

Cash generated from operations

NA

NA

NA

Net cash from operating activities

36.251

9.259

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(14.75)

0.52

0.40

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

1.26

10.93

7.08

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(11.02)

0.79

0.81

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.53)

0.03

0.03

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.55

2.44

2.53

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

5.34

1.22

1.13

 

 

 

 

 

 

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

13.008

13.008

13.008

Reserves & Surplus

54.945

56.313

32.448

Net worth

67.953

69.321

45.456

 

 

 

 

long-term borrowings

5.827

1.083

139.581

Short term borrowings

158.125

160.834

4.933

Current Maturities of Long-Term Debts

7.826

7.243

16.683

Total borrowings

171.778

169.160

161.197

Debt/Equity ratio

2.528

2.440

3.546

 

 

 

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)

Revenue from Operations

394.629

264.724

161.819

 

 

(32.918)

(38.873)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations

394.629

264.724

161.819

Profit

1.570

1.367

(23.865)

 

0.40%

0.52%

(14.75%)

 

 

 

 

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

Yes

17

Details of sister concerns

Yes

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

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

 

 

 

 

 

UNSECURED LOAN:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Term Loans From Banks

0.000

0.616

From Others (NBFC)

0.000

0.467

 

 

 

SHORT TERM BORRWOINGS

 

 

From related parties

2.074

2.983

 

 

 

Total

2.074

4.066

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10375321

25/03/2013 *

286,000,000.00

STATE BANK OF INDIA

N. S. ROAD BRANCH, 8, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA

B73538043

2

10072567

22/08/2014 *

155,000,000.00

State Bank of India

N. S. ROAD BRANCH, 8, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA

C35691377

 

 

FIXED 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.66.26

UK Pound

1

  Rs.101.99

Euro

1

Rs.74.79

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

THR

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

28

 

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.