MIRA INFORM REPORT

 

 

Report No. :

340742

Report Date :

12.09.2015

 

IDENTIFICATION DETAILS

 

Name :

SHAH BROTHERS ISPAT PRIVATE LIMITED

 

 

Registered Office :

5A/5B, Trust House, Dr. E Broges Road, Opposite Shirodkar High School, Parel (East), Mumbai – 400012, Maharashtra

Tel. No.:

91-22-40555444/445

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014 (Consolidated)

 

 

Date of Incorporation :

04.08.2004

 

 

Com. Reg. No.:

11-147842

 

 

Capital Investment / Paid-up Capital :

Rs.14.350 Million (Consolidated)

 

 

IEC No.:

0388167475

 

 

CIN No.:

[Company Identification No.]

U27101MH2004PTC147842

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS45609E

 

 

PAN No.:

[Permanent Account No.]

AAKCS2766A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader, Exporter, Importer and Supplier of Boiler Quality Steel Plates and Hot Rolled Coils.

 

 

No. of Employees :

55 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The company possesses an acceptable financial risk profile marked by comfortable capital structure along with fair profitability in fY14.

 

Management has witnessed a growth in its revenue base, whereas has reported a profit during FY14 as against a previous year loss.

 

Trade relations seem to be fair. Business is active. Payment terms are reported as slow but correct.

 

In view of long standing experience of the promoters, the company can be considered for business dealings at 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

CARE

Rating

Long term bank facilities: BB+ (Suspended)

Rating Explanation

Inadequate credit quality and high credit risk.

Date

11.02.2015

 

Rating Agency Name

CARE

Rating

Short term bank facilities: A4+ (Suspended)

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

11.02.2015

 

Reasons for suspension: Company has not furnished information to care.

 

 

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. Atmaram Medage

Designation :

Accounts Executive

Contact No.:

91-22-40555444

Date :

11.09.2015

 

 

LOCATIONS

 

Registered Office :

5A/5B, Trust House, Dr. E Broges Road, Opposite Shirodkar High School, Parel (East), Mumbai – 400 012, Maharashtra, India

Tel. No.:

91-22-40555444 /445

Fax No.:                              

91-22-23436925

E-Mail :

accounts@sbispat.com

sales@sbispat.com

Website :

http://www.sbispat.com

Area :

4000 Sq. Ft.

Location :

Rented

Locality:

Commercial

 

 

Warehouse :

L-5, Taloja Industrial Area, MIDC, Taluka-Panvel, District – Raigad, Maharashtra, India

Location:

Owned

 

 

Branch Office 1 :

Shop No.718, Loha Mandi, Ghaziabad – 201 001, Uttar Pradesh, India

 

 

Branch Office 2 :

E-7, 7th Floor, Vardan Complex, Ahmedabad – 380009, Gujarat, India

 

 

Branch Offices :

Also located at:

 

·         Bangalore

·         Bhilai

·         Chennai

·         Delhi

·         Hyderabad

·         Vadodara

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Rajesh Chinubhai Shah

Designation :

Director

Address :

31, Anupam, 11, Manav Mandir Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

10.07.1965

Date of Appointment :

04.08.2004

DIN No.:

00022645

 

 

Name :

Mr. Sanjiv Pravin Mehta

Designation :

Director

Address :

15, Nirmal Mahal, Bomanji Petit Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

14.12.1963

Date of Appointment :

04.08.2004

DIN No.:

00022691

 

 

Name :

Mr. Chinubhai Himatlal Shah

Designation :

Director

Address :

13/3, Anupam, Manav Mandir Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

13.03.1936

Date of Appointment :

04.08.2006

DIN No.:

00022747

 

 

Name :

Mr. Pravin Pranlal Mehta

Designation :

Director

Address :

15, Nirmal Mahal, Bomanji Petit Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

31.08.1935

Date of Appointment :

04.08.2004

DIN No.:

00026803

 

 

KEY EXECUTIVES

 

Name :

Mr. Atmaram Medage

Designation :

Accounts Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Chinubhai Himatlal Shah Jointly Manjuben C. Shah Jointly Dharmesh C. Shah

 

72000

Chinubhai Himatlal Shah Jointly Manjuben C. Shah Jointly Rajesh C. Shah

 

72000

Pravin Pranlal Mehta Jointly Ranjanbala Mehta Jointly Sanjiv Mehta

 

215250

Sanjiv Pravin Mehta Jointly Heena Mehta

 

257000

Dharmesh Chinubhai Shah Jointly Sangeeta Shah

 

243950

Rajesh Chinubhai Shah Jointly Minal Shah

 

243950

Ranjanbala Pravin Mehta Jointly Pravin P. Mehta Jointly Sanjiv P. Mehta

 

80000

Heena Sanjiv Mehta Jointly Sanjiv P. Mehta

 

143500

Pravin P. Mehta HUF through its Karta Pravin P. Mehta

 

10000

Ranjanbala P. Mehta Jointly Pravin P. Mehta

 

19326

Chinubhai H. Shah Jointly Manjula C. Shah

 

85600

Chinubhai Shah HUF

 

12121

Sangeeta Shah

 

5303

Minal Shah

 

5303

Keshavi Mehta

 

15152

Total

 

1480455

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader, Exporter, Importer and Supplier of Boiler Quality Steel Plates and Hot Rolled Coils.

 

 

Products :

·         Ferrous and Non - Ferrous Metal

·         Boiler Quality Plates

·         High Tensile Steel Plate

·         Alloy Steel Plate

·         Mild Steel Products

·         HR Coils

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Dubai

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Ukraine
  • China
  • Russia

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Jindal Steel and Power 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

 

  • Duferco S.A , Switzerland
  • Steel Authority of India

 

 

Customers :

Reference :

Raj Engineering Company

Name of the Person :

Mr. Rajendra Singh

Contact No.:

91-9820303421

Since How Long Known :

Long time

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Good

Good

Good

Remark:

They gave us positive response about subject company they are satisfied with their product quality and delivery behavior.

 

·         R D Engineering

·         Thermax Limited

 

 

No. of Employees :

55 (Approximately)

 

 

Bankers :

Bank Name

Central Bank of India

Branch

M G Road, Fort, Mumbai – 400 023, Maharashtra, 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 Baroda, Cuffe Parade, Mumbai, Maharashtra, India

 

·         State Bank of India, Chembur, Mumbai, Maharashtra, India

 

  • Union Bank of India, fort, Mumbai, Maharashtra, India

 

·         Central Bank of India and 3 Others, Corporate Finance Branch, 1stFloor, M.M.O Building, M G Road, Fort, Mumbai – 400 023, Maharashtra, India

 

·         State Bank of India, Commercial Branch, 1548/A, Sadasiv Peth, Tilak Road, Pune – 41103, Maharahshtra, India

 

 

Facilities :

·         Central Bank of India

Cash Credit Limit : Rs. 210.000 Million

Non Fund Base : Rs. 2500.000 Million

 

·         Bank of Baroda

Cash Credit Limit : Rs. 50.000 Million

Non Fund Base : Rs. 650.000 Million

 

·         Union Bank of India

Cash Credit Limit : Rs. 77.000 Million 

Non Fund Base : Rs. 1000.000 Million

 

·         State Bank of India

Cash Credit Limit : Rs. 50.000 Million

Non Fund Base : Rs. 650.000 Million

 

 

 

Auditors :

 

Name :

H.M. Mody and Company

Chartered Accountants

Address :

12, Indus Court, A Road, Churchgate, Mumbai – 400 020, Maharashtra, India

Tel. No.:

91-22-22046924

Fax No.:

91-22-22873255

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

AGBPM4701B

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates (AS ON 31.03.2013):
  • New Excelsior Theatre Private Limited, India [U92112MH1974PTC017802]
  • Meshco Steels
  • Peace Fort Chemind Engineering Private Limited, India [U74999MH1971PTC015360]
  • GTI Toykraft Private Limited, India [U36940MH1995PTC095129]
  • Chinubhai H. Shah (HUF)
  • Pravin P. Mehta (HUF)
  • Rajesh C. Shah (HUF)

 

 

 

 

 

 

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014 (CONSOLIDATED)

 

 

Authorised Capital : NOT AVAILABLE

 

Issued, Subscribed & Paid-up Capital : Rs.14.350 Million

 

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1500000

Equity Shares

Rs.10/- each

Rs.15.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1480455

Equity Shares

Rs.10/- each

Rs.14.805 Million

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

(Consolidated)

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

14.350

14.350

14.350

(b) Reserves & Surplus

1089.921

1009.239

1258.412

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

30.000

30.000

0.000

Total Shareholders’ Funds (1) + (2)

1134.271

1053.589

1272.762

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

221.275

269.140

86.251

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

2.020

1.210

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

223.295

270.350

86.251

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

354.999

234.973

291.548

(b) Trade payables

3442.003

2912.864

2892.187

(c) Other current liabilities

18.564

56.334

33.398

(d) Short-term provisions

1.114

0.457

0.446

Total Current Liabilities (4)

3816.680

3204.628

3217.579

 

 

 

 

TOTAL

5174.246

4528.567

4576.592

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

511.467

526.536

475.538

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

51.050

(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)

1.987

1.987

1.986

(d)  Long-term Loan and Advances

82.284

14.333

16.944

(e) Other Non-current assets

69.888

62.464

30.350

Total Non-Current Assets

665.626

605.320

575.868

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 0.000

 0.000

 0.000

(b) Inventories

1021.053

1663.163

1194.413

(c) Trade receivables

2900.900

1707.892

2078.128

(d) Cash and cash equivalents

354.033

294.050

465.203

(e) Short-term loans and advances

100.674

160.989

200.748

(f) Other current assets

131.960

97.153

62.232

Total Current Assets

4508.620

3923.247

4000.724

 

 

 

 

TOTAL

5174.246

4528.567

4576.592

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

(Consolidated)

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

6948.663

5867.704

8524.758

 

 

Other Income

195.398

129.442

128.491

 

 

TOTAL                                     (A)

7144.061

5997.146

8653.249

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of Stock-in-Trade

5995.811

6114.822

7419.766

 

 

Changes in inventories

642.111

(468.751)

744.259

 

 

Employees benefits expense

22.618

19.826

53.369

 

 

Operating and Other expenses

181.155

266.963

216.248

 

 

TOTAL                                     (B)

6841.695

5932.860

8433.642

 

 

 

 

 

 

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

302.366

64.286

219.607

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

258.207

290.959

191.462

 

 

 

 

 

 

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

44.159

(226.673)

28.145

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

4.300

13.149

4.311

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

39.859

(239.822)

23.834

 

 

 

 

 

Less

TAX                                                                  (H)

(54.392)

2.610

(41.312)

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

94.251

(242.432)

65.146

 

 

 

 

 

 

Earnings Per Share (Rs.)

656.80

(1689.40)

453.90

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

6840.000

(Market Fluctuation)

 

Expected Sales (2015-2016) : Rs.6800.000 Million

 

The above information has been parted by Mr. Atmaram Medage (Accounts Executive)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

(Consolidated)

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

0.000

0.000

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

(300.630)

(112.198)

Net cash flow from operating activity

NA

(114.222)

11.946

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

(Consolidated)

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.36

(4.13)

0.76

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

4.35

1.10

2.58

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.77

(5.30)

0.53

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.04

(0.23)

0.02

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.51

0.48

0.30

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.18

1.22

1.24

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

(Consolidated)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

14.350

14.350

14.350

Reserves & Surplus

1258.412

1009.239

1089.921

Share Application money pending allotment

0.000

30.000

30.000

Net worth

1272.762

1053.589

1134.271

 

 

 

 

long-term borrowings

86.251

269.140

221.275

Short term borrowings

291.548

234.973

354.999

Total borrowings

377.799

504.113

576.274

Debt/Equity ratio

0.297

0.478

0.508

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

(Consolidated)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

8524.758

5867.704

6948.663

 

 

(31.169)

18.422

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

(Consolidated)

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

8524.758

5867.704

6948.663

Profit/ (Loss)

65.146

(242.432)

94.251

 

0.76%

(4.13%)

1.36%

 

 

 

 

 

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

Yes

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

Yes

18

Major suppliers

Yes

19

Major customers

Yes

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%

Yes

28

Estimation for coming financial year

Yes

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

 

 

CHANGE OF ADDRESS

 

The Registered office of the company has been shifted 406 Giriraj, S T Road, Mumbai – 400009, Maharashtra, India to the present address w.e.f. 23.03.2012

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10364745

18/06/2012

226,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH, 1ST FLOOR, MMO BUILDING
, M. G. ROAD, MUMBAI, MAHARASHTRA - 400023, INDIA

B43296045

2

10364746

18/06/2012

120,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH, 1ST FLOOR, MMO BUILDING
, M. G. ROAD, MUMBAI, MAHARASHTRA - 400023, INDIA

B43296375

3

10321501

24/10/2011

700,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH,1548/A, SADASHIV PETH,TILAK ROA
D, PUNE, MAHARASHTRA - 411030, INDIA

B27083369

4

10134345

24/11/2008

300,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,, MMO. BUILDING,1ST FLOO
R,M.G.ROAD,FORT,, MUMBAI, MAHARASHTRA - 400001, IN
DIA

A53083986

5

10054510

18/04/2007

150,000,000.00

UNION BANK OF INDIA

VEER NARIMAN ROAD BRANCH, RAJ MAHAL,, VEER NARIMA
N ROAD, CHURCHGATE,, MUMBAI, MAHARASHTRA - 400020,
INDIA

A16339202

6

10048052

20/03/2007

500,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BR, CENTRAL BANK BUILDING, FORT,
, MUMBAI, MAHARASHTRA - 400001, INDIA

A13088869

7

10110101

03/11/2006

143,000,000.00

BANK OF BARODA

CUFFE PARADE BRANCH, G. D. SOMANI SCHOOL BUILDING,
, G. D. SOMANI SCHOOL MARG, CUFFE PARADE,, MUMBAI
, MAHARASHTRA - 400005, INDIA

A09042284

8

80007073

04/04/2012 *

5,196,400,000.00

CENTRAL BANK OF INDIA & 3 OTHERS

CORPORATE FINANCE BRANCH, 1ST FLOOR, MMO BUILDING
, M. G. ROAD, MUMBAI, MAHARASHTRA - 400023, INDIA

B42068221

9

10008546

16/03/2012 *

5,196,400,000.00

CENTRAL BANK OF INDIA & 3 OTHERS

CORPORATE FINANCE BRANCH, 1ST FLOOR, MMO BUILDING
, M. G. ROAD, MUMBAI, MAHARASHTRA - 400023, INDIA

B42069112

10

10006349

29/05/2006

674,400,000.00

UNION BANK OF INDIA LIMITED

, , MAHARASHTRA, INDIA

A01341924

 

 

FIXED ASSETS

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

 

 

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.66.38

UK Pound

1

Rs.102.59

Euro

1

Rs.74.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SUD

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

42

 

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.