MIRA INFORM REPORT

 

 

Report No. :

341069

Report Date :

14.09.2015

           

IDENTIFICATION DETAILS

 

Name :

FORD INDIA PRIVATE LIMITED

 

 

Registered Office :

S.P. Koil Post, Chengalpattu, Kanchipuram, Chennai – 603204, Tamilnadu

Tel. No.:

91-44-67403333

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

09.08.2000

 

 

Com. Reg. No.:

18-045537

 

 

Capital Investment / Paid-up Capital :

Rs.57000.000 Million

 

 

CIN No.:

[Company Identification No.]

U34103TN2000PTC045537

 

 

IEC No.:

0396011853

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEM02210F

 

 

PAN No.:

[Permanent Account No.]

AAACM4454H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing and Selling of Passenger Vehicles.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 95000000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is a subsidiary of Ford Motor USA, an auto giant.

 

It is an established company incorporated in the year 2000 having a satisfactory track record.

 

The company has incurred some accumulated losses from its operation.

 

However, the rating takes into consideration rich experience of its promoters, established brand image and strong operating efficiency of the company.

 

The ratings also continue to derive strength from its prominent parentage (viz, Ford Motor USA) and its experienced management.

 

Trade relations are reported as fair. Business is active. Payment are reported to be usually correct.

 

In view of strong holding support, the company can be considered normal 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

 

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 DENIED BY

 

Management Non Co-operative (91-44-67403200 / 67403333)

 

 

LOCATIONS

 

Registered Office/ Factory/ Corporate Office :

S.P. Koil Post, Chengalpattu, Kanchipuram, Chennai – 603204, Tamilnadu, India

Tel. No.:

91-4114-27454375

91-44-67403333

Fax No.:

91-4114-4254278

E-Mail :

sramesh4@ford.com

cavneesh@ford.com

Website :

http://www.india.ford.com

Area :

350 Acres

 

 

Corporate Office - North:

3rd Floor, Building 10C, DLF Cyber City, DLF Phase – II, Gurgaon – 122002, Haryana, India

Tel. No.:

91-124-3873001

Fax No.:

91-124-3873999

 

 

New Plant

(Under Construction) :

Revenue Survey 1, Village Northkaputa, Taluka Sanand, Ahmedabad, Gujarat, India

 

 

Regional Office :

West

301, Central Plaza, CST Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India

Tel. : 91-22-67024300

Fax: 91-22-67024305

 

South

Block – 1B, 1st Floor, RMZ Millenia Business Park, 143, Dr. MGR Road, North Veeranam Salai, Perungudi, Chennai – 600096, Tamilnadu, India

Tel. : 91-44-24551500

Fax : 91-44-24559965

 

East

6th Floor, Unit # D2, Aakash Tower, 781, Anandpur, Kolkata - 70010, West Bengal, India

Tel. : 91-33-40073930-34

 

 

DIRECTORS

 

As on:  30.09.2013

 

Name :

David Linden Schoch

Designation :

Director

Address :

36th Floor Sit No 211, Century Avenue, Shanghai, Na,  China

Date of Appointment :

27.03.2013

DIN No.:

06537288

 

 

Name :

Nigel Charles Harris

Designation :

Managing Director

Address :

Apartment No 1002 A,The Magnolias, Dlf Golf Links Dlf City, Near Golf Course Road, Gurgaon - 122001, Haryana, India

Date of Appointment :

19.09.2014

DIN No.:

06950351

 

 

Name :

David Allan Schock

Designation :

Whole-Time Director

Address :

Apartment No 311A The Magnolias DLF Golf Links, DLF Golf Links, DLF Phase-5, Gurgaon - 122001, Haryana, INDIA

Date of Appointment :

19.09.2014

DIN No.:

06950353

 

 

Name :

Kelvin John Kearns

Designation :

Whole-Time Director

Address :

20 Mandar Bunglows Near Auda Sports Complex, Thaltej Opposite ajanta Ellora Housing Complex, Ahmedabad - 380054, Gujarat, India

Date of Appointment :

01.12.2014

DIN No.:

06992071

 

 

Name :

Balasundaram Radhakrishnan

Designation :

Whole-Time Director

Address :

A7/1/13 Lakshyavan Apartments South Mada Street, Sri Nagar Colony Saidapet, Chennai - 600015, Tamil Nadu, India

Date of Appointment :

01.12.2014

DIN No.:

07009700

 

 

KEY EXECUTIVES

 

Name :

Avneesh Chopra

Designation :

Secretary

Address :

C-4/4, Plot No.53, Mangla Apartments, Patparganj, IP Extension, Delhi – 110092, India 

Date of Birth/Age :

20.08.195

Date of Appointment :

01.05.2013

PAN No.:

ABXPC7602C

 

 

MAJOR SHAREHOLDERS

 

As on: 30.09.2013

 

Names of Shareholders

No. of Shares

Percentage

Ford Motor Company, USA

418654904

84.16

Ford International Services LLC, USA

79045096

15.84

Total

497700000

100.00

 

 

LIST OF ALLOTTES:

 

As on: 29.01.2014

 

Names of Shareholders

 

No. of Shares

Ford Motor Company, USA

 

15645948

Ford International Services LLC, USA

 

2954052

Total

 

18600000

 

As on: 20.12.2013

 

Names of Shareholders

 

No. of Shares

Ford Motor Company, USA

 

13879470

Ford International Services LLC, USA

 

2620530

Total

 

16500000

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 30.09.2013

 

Category

 

Percentage

 

 

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

100.00

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Selling of Passenger Vehicles.

 

 

Products :

Category

ITC Code

Passenger Cars

87033191

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

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

ICICI Bank Limited

Branch Address

Land Mark Race Course Circle, Vadodara, Gujarat, 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

 

  • The Hongkong and Shanghai Banking Coporation Limited No 30 Rajaji Salai, Chennai - 600001, Tamilnadu, India

 

 

Facilities :

(Rs. In Million)

Secured Loan

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

0.200

1595.500

Total

0.200

1595.500

 

Auditors :

 

Name :

Lovelock and Lewes

Chartered Accountants

Address :

32, Khader Nawaz Khan Road, Nungambakkam, Chennai – 600034, Chennai, Tamilnadu, India

Tel. No.:

AABFL5878L

 

 

Fellow Subsidiary company
  • Auto Alliance Company Thailand, Thailand
  • Changan Ford, China
  • Chongqing Ante Trading Company Limited, Taiwan
  • Dubai Parts Distribution Limited, United Arab Emirates
  • FCE Bank plc, UK
  • Ford Argentina S.C.A, Argentina
  • Ford Australia, Australia
  • Ford Business Services Center Private Limited, India
  • Ford Espana, Spain
  • Ford Global Technologies L/C, US
  • Ford Group Philippines LLC, Philippines
  • Ford International Services, LLC, US
  • Ford Japan Limited, Japan
  • Ford Motor (China) Limited, China
  • Ford Motor Company (Thailand) Limited, Thailand
  • Ford Motor Company Brazil Limited, Brazil
  • Ford Motor Company of Canada, Canada
  • Ford Motor Company, Philippines
  • Ford Motor Company of New Zealand Limited, New Zealand
  • Ford Motor Company, USA
  • Ford Operations (Thailand) Company Limited, Thailand
  • Ford Sollers Russia, Russia
  • Ford South Africa, South Africa
  • Ford Taiwan (Lio Ho), Taiwan, Province of china
  • Ford Trading Company, US
  • Ford Vietnam Limited, Viet Nam
  • Ford of Britain, UK
  • Ford of Germany, Germany
  • Ford of Maxico, Maxico
  • Getrag Ford Trans – Cologne, Germany
  • Getrag Ford Transmissions GMBH, Germany
  • Mazda Motor Corporation, Japan
  • Troy Design and Manufacturing, US
  • Valencia Parts Ops, US
  • Tom Scaria Chackalackal
  • PT Ford Motor Indonesia, Indonesia

 

 

CAPITAL STRUCTURE

 

After as on: 30.09.2014

 

Authorized Capital: Rs.105000.000 Million

 

Issued, Subscribed & Paid-up Capital: Rs.75180.000 Million

 

 

As on: 31.03.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

700000000

Equity Shares

Rs.100/- each

Rs.70000.000 Million

250000000

Preference Shares

Rs.100/- each

Rs.25000.000 Million

 

Total

 

Rs.95000.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

570000000

Equity Shares

Rs.100/- each

Rs.57000.000 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

57000.000

47670.000

28890.000

(b) Reserves & Surplus

(23595.000)

(17626.700)

(13428.176)

(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)

33405.000

30043.300

15461.824

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

42012.500

20562.600

14290.982

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

582.600

535.800

724.621

(d) long-term provisions

160.800

29.300

257.661

Total Non-current Liabilities (3)

42755.900

21127.7000

15273.264

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3611.800

4134.600

3908.682

(b) Trade payables

16027.300

12439.800

12925.187

(c) Other current liabilities

13957.900

4936.400

1085.951

(d) Short-term provisions

1489.500

2086.300

1203.261

Total Current Liabilities (4)

35086.500

23597.100

19123.081

 

 

 

 

TOTAL

111247.400

74768.100

49858.169

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

32238.700

24407.700

23603.200

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

36266.500

15562.700

2802.037

(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

6087.200

6547.500

3735.653

(e) Other Non-current assets

17.000

239.800

24.605

Total Non-Current Assets

74609.400

46757.700

30165.495

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

15035.800

10616.600

8780.959

(c) Trade receivables

6252.000

2699.900

2373.026

(d) Cash and cash equivalents

3512.2000

8107.800

6043.434

(e) Short-term loans and advances

7087.700

4521.800

2257.965

(f) Other current assets

4750.300

2064.300

237.290

Total Current Assets

36638.000

28010.400

19692.674

 

 

 

 

TOTAL

111247.400

74768.100

49858.169

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

 

 

Other Income

 

 

 

 

TOTAL

89240.000

59060.000

66850.000

 

 

 

 

 

 

EXPENSES

 

 

 

 

Manufacturing, administrative and selling Expenses

89670.000

59160.000

64810.000

 

TOTAL

89670.000

59160.000

64810.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

(430.000)

(100.000)

2040.000

 

 

 

 

 

 

FINANCIAL EXPENSES

1290.000

1210.000

600.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(1720.000)

(1310.000)

1440.000

 

 

 

 

 

 

DEPRECIATION/ AMORTISATIN

4250.000

2890.000

2840.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(5970.000)

(4200.000)

(1400.000)

 

 

 

 

 

 

TAX

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(5970.000)

(4200.000)

(1400.000)

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

(17630.000)

(13440.000)

(12040.000)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

(23600.000)

(17630.000)

(13440.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(0.01)

(0.14)

(0.09)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

256.300

256.300

256.256

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(2961.900)

(5088.500)

88.522

 

 

KEY RATIOS

 

Particular

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

(7.96)

(7.09)

(2.98)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.18)

(0.14)

(0.09)

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.37

0.82

1.18

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.04

1.19

1.03

 

 

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

28890.000

47670.000

57000.000

Reserves & Surplus

(13428.176)

(17626.700)

(23595.000)

Net worth

15461.824

30043.300

33405.000

 

 

 

 

long-term borrowings

14290.982

20562.600

42012.500

Short term borrowings

3908.682

4134.600

3611.800

Current Maturities of Long Term Debt

256.256

256.300

256.300

Total borrowings

18455.920

24953.500

45880.600

Debt/Equity ratio

1.194

0.831

1.373

 

 

 

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)

Total Income

66850.000

59060.000

89240.000

 

 

(11.653)

51.101

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

66850.000

59060.000

89240.000

Profit

(1400.000)

(4200.000)

(5970.000)

 

(2.09%)

(7.11%)

(6.69%)

 

 

 

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

No

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

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

Yes

33

Market information

----------------------

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CHENNAI COURT

CASE STATUS INFORMATION SYSTEM

 

Case Status:

Pending

Status Of:

TAX CASE APPEAL  12  Of  2014

Litigants :

THE COMMISSIONER OF INCOME TAX Vs.   FORD INDIA PRIVATE LIMITED

Pet's Advocate :

M/S.T.RAVIKUMAR

Res's Advocate :

CHENNAI

 

Last Listed on: 04.06.2014

Case Updated on :

June 05, 2014

 

 

UNSECURED LOAN

                                                                                                                    (Rs. In Million)

Particular

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWINGS

 

 

Intercorporate borrowings

31296.300

12357.100

Term Loan From Banks

2333.000

0.000

Differed Payment Liabilities

8383.200

8205.500

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

3611.600

2539.100

Total

45624.100

23101.700

 

 

NEW BUSINESS ACTIVITY:

 

Ford India launched the 2014 editions of the Ford Fiesta, Ford Figo and Ford Endeavour.

 

Furthermore, in its commitment to elevating the brand and ownership experience for consumers, Ford India strengthened its sales and service outreach in India by expanding its network to 304 sales and service outlets/facilities across 164 cities. Besides network expansion, Ford also launched the? Happy Pocket Service? Offering extremely competitive and highly transparent fixed pricing on scheduled service costs, starting at Rs. 0.002 Million.

 

The construction of Ford India second integrated manufacturing plant in Sanand, Gujarat is progressing well, with construction nearing completion. The manufacturing plant will be operational towards the end of 2014, and vehicles and engines will roll off the assembly lines sometime in 2015.

 

This new facility involved the investment of approximately USD $ 1 billion, for two plants, one for vehicle manufacturing with an initial capacity of 240,000 vehicles, and the other for engines with an initial capacity of 270,000 engines.

 

PRODUCTION:

 

During the financial year ended March 31, 2014, Ford India has produced 134,195 passenger cars consisting of Ford Figo, Ford Fiesta, Ford Classic and Ford Endeavour, for both domestic and export markets. Ford India achieved a major milestone in August 2014 Ford Eco Sport sales milestone of 100,000 units in August 2014 for domestic wholesales and exports combined.

 

 

SALES:

 

The total sales in the financial year 2013-14 were 132,582 vehicles as against 106,657 for the previous year.

 

 

EXPORTS:

 

Ford India continues to export Figo, Classic and Eco Sport and also petrol and diesel powertrains from its facility in Chennai. The vehicle exports for financial year ended March 31, 2014 year increased by more than 82% over the from financial year ended March, 31 2013. The value of exports during the financial year was Rs. 33870.000 Million, which helped Ford India meet its ongoing export obligations under the Export Promotion Capital Goods (EPCG) Scheme.

 

 

BUSINESS PLAN:

 

 

Ford India plans to launch global vehicles in India to meet the customers’ needs and desires. The current models will be refreshed at the regular intervals to suit evolving trends and consumer needs. 

 

During the financial year, Ford India received Rs 9330.000 Million in equity contribution from its shareholders to fund the expansion activities. Ford India will continue to receive the support from its shareholders to meet its future funding requirements in the form of equity and inter-corporate loans. Ford India already has received Rs 18940.000 Million in form of Inter-corporate loans since April 2013.

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10542501

19/12/2014

1,000,000,000.00

YES BANK LIMITED

NEHRU CENTRE, DISCOVERY OF INDIA,, DR. A.B. ROAD, 
WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA

C40164584

2

10512108

04/07/2014

1,500,000,000.00

KOTAK MAHINDRA BANK LIMITED

27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI - 400051, MAHARASHTRA, INDIA

C14518906

3

90285769

24/09/2012 *

1,500,000,000.00

STATE BANK OF INDIA

CAG BRANCH, 3RD FLOOR, SIGAPI AACHI BUILDING, RUKMANI LAKSHMIPATI ROAD, CHENNAI - 600008, TAMIL NADU, INDIA

B60359122

 

* Date of charge modification

 

 

FIXED ASSETS

 

Tangible Assets

  • Buildings
  • Land
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer Equipments

 

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 judgment 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 :

SPY

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

PNM

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

2

--CREDIT LINES

1~10

6

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

 

50

 

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.