MIRA INFORM REPORT
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Report No. : |
340721 |
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Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
K. VENKATA RAJU ENGINEERS AND CONTRACTORS PRIVATE LIMITED |
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Formerly known
as : |
K. VENKATA RAJU ENGINEERS AND CONTRACTORS |
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Registered
Office : |
D.No. 54-20-6, Kanakadurga Gazetted Officers Colony, Road No. 1,
Gurunanak Nagar, Vijayawada – 520008, Andhra Pradesh |
|
Tel. No.: |
91-866-2546364 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 [K. Venkata Raju Engineers And Contractors (Partnership
Concern)] |
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Date of
Incorporation : |
28.06.2014 |
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Com. Reg. No.: |
09-094718 |
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Capital
Investment / Paid-up Capital : |
Rs. 140.000 Million |
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|
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CIN No.: [Company Identification
No.] |
U45200AP2014PTC094718 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAFFK1861Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Civil Contractor |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was established on 15th June 2002 as partnership
concern and it was reconstituted into private limited company on 28th
June 2014 under current subject name. It is engaged in providing civil engineering services having
satisfactory track. Mr. V. Srinivas, (Accounts Manager) has provided all information of
the subject to us. As per financial of the concern for the year 2014, its overall
financial position seems to be good with decent profitability margins,
healthy net worth base and strong debt protection metrics. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. 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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
V. Srinivas |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9849269595 |
|
Date : |
21.09.2015 |
LOCATIONS
|
Registered Office : |
D.No. 54-20-6, Kanakadurga Gazetted Officers Colony, Road No. 1, Gurunanak
Nagar, Vijayawada – 520008, Andhra Pradesh, India |
|
Tel. No.: |
91-866-2546364 |
|
Mobile No.: |
91-9849269595 (V. Srinivas) |
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Fax No.: |
91-866-2486360 |
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E-Mail : |
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Area : |
1500 Sq. Ft. |
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Location : |
Rented |
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Branch Office : |
K. Venkata Raju Engineers and Contractors Private Limited, D.No.
49-54-12/AHIG 12, Green Park Colony, BS Layout, Sithammdara, Visakhapatnam –
16, India |
|
Area : |
1500 sq. ft. |
|
Location : |
Rented |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Kishan Kumar Thotakura |
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Designation : |
Director |
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Address : |
F.No.401,Trend Set Harmony 3rd Line,Meharbaba Marg, Gayatri Nagar,Venkateswarapuram, Krishna, Vijayawada – 520010, Andhra Pradesh, India |
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Date of Birth/Age : |
15.12.1965 |
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Qualification : |
Be (Civil) |
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Experience : |
26 Years |
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Date of Appointment : |
28.06.2014 |
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DIN No.: |
02425879 |
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Other Directorship :
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Name : |
Charukuri Murali Mohan |
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Designation : |
Director |
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Address : |
48-18-3, Gunadala, Vijayawada – 520005, Andhra Pradesh, India |
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Date of Birth/Age : |
01.11.1963 |
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Qualification : |
Be (Civil) |
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Experience : |
26 Years |
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Date of Appointment : |
28.06.2014 |
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DIN No.: |
00898309 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
V. Srinivas |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2014
|
Names of Shareholders |
No. of Shares |
% of holdings |
|
Thotakura Kishan Kumar |
5320000 |
38.00 |
|
Cherukuri Murali Mohan |
3780000 |
27.00 |
|
Thotakumar Vaumathi |
2800000 |
20.00 |
|
Cherukuri Sri Devi |
1260000 |
9.00 |
|
Nadipalli Veera Venkata Satyanarayana |
700000 |
5.00 |
|
Bandikrishna Mohan |
70000 |
0.50 |
|
Munukutla Subramanya Sarma |
70000 |
0.50 |
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|
|
|
|
Total |
14000000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Civil Contractor |
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Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
VV Ramana Murthy Chartered Accountant |
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Address : |
40-03-15, 1st Floor, Krishna Nagar, Labbipet, Vijaywada –
520010, Andhra Pradesh, India |
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Tel. No.: |
91-886-282544 |
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E-Mail : |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
KVR Aqua Clare Private Limited Address: D.No. 48-18-3, Nagarjun Nagar, Gunadala, Vijaywada – 520008,
Andhra Pradesh, India Line of Busines : Water Plant |
CAPITAL STRUCTURE
Authorised Capital: Rs. 150.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 140.000
Million
K.
VENKATA RAJU ENGINEERS AND CONTRACTORS (PARTNERSHIP CONCERN)
AS ON 31.03.2014
|
Capital Investment : |
|
|
Owned : |
Rs. 223.703
Million (Estimated) |
|
Borrowed : |
-- |
|
Total : |
Rs. 223.703 Million
(Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
K.
VENKATA RAJU ENGINEERS AND CONTRACTORS (PARTNERSHIP CONCERN)
|
SOURCES OF
FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
223.703 |
197.760 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
223.703 |
197.760 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
180.894 |
185.690 |
|
|
2] Unsecured Loans |
|
13.143 |
18.201 |
|
|
TOTAL BORROWING |
|
194.037 |
203.891 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
417.740 |
401.651 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
49.098 |
67.996 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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|
|
|
|
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INVESTMENT |
|
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
|
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|
Inventories |
|
38.958
|
21.819
|
|
|
Sundry Debtors |
|
121.105
|
282.708
|
|
|
Cash & Bank Balances |
|
3.672
|
12.008
|
|
|
Other Current Assets |
|
15.230
|
40.562
|
|
|
Loans & Advances and Deposits |
|
199.430
|
174.702
|
|
Total
Current Assets |
|
378.395
|
531.799
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
7.308
|
70.412
|
|
|
Provisions and Taxes |
|
2.445
|
127.732
|
|
Total
Current Liabilities |
|
9.753
|
198.144
|
|
|
Net Current Assets |
|
368.642
|
333.655
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
417.740 |
401.651 |
|
PROFIT
& LOSS ACCOUNT
K. VENKATA
RAJU ENGINEERS AND CONTRACTORS (PARTNERSHIP CONCERN)
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
|
INCOME |
|
703.809 |
698.411 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Opening Work in Progress |
|
21.820 |
10.300 |
|
|
Administrative expenses |
|
31.930 |
63.696 |
|
|
Department recoveries |
|
35.705 |
27.105 |
|
|
Financial Charges |
|
2.250 |
2.489 |
|
|
Interest – Bank and Government |
|
30.807 |
25.667 |
|
|
Material purchase |
|
105.591 |
213.150 |
|
|
Purchase of Site |
|
0.000 |
15.760 |
|
|
Sub contract |
|
392.519 |
276.684 |
|
|
Work expenses |
|
27.179 |
10.491 |
|
|
Remuneration |
|
7.000 |
7.000 |
|
|
TOTAL |
|
654.801 |
652.342 |
|
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|
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
49.008 |
46.069 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
7.765 |
10.621 |
|
|
|
|
|
|
|
|
NET PROFIT |
|
71.243 |
35.448 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flow from (used in) operation |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin
(PAT / Sales) |
(%) |
|
10.12 |
5.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
19.33 |
10.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.32 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.87 |
1.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.03 |
1.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
K. VENKATA
RAJU ENGINEERS AND CONTRACTORS (PARTNERSHIP CONCERN)
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
197.760 |
223.703 |
|
Reserves & Surplus |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net
worth |
197.760 |
223.703 |
|
|
|
|
|
Secured loans |
185.690 |
180.894 |
|
Unsecured loans |
18.201 |
13.143 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
|
Total
borrowings |
203.891 |
194.037 |
|
Debt/Equity
ratio |
1.031 |
0.867 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
698.411 |
703.809 |
|
|
|
0.773 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
698.411 |
703.809 |
|
Profit |
35.448 |
71.243 |
|
|
5.08% |
10.12% |
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 |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last two 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 |
10554534 |
28/06/2014 |
340,000,000.00 |
State Bank of India |
MEDIUM ENTERPRISES SALES HUB, PATAMATA, VIJAYAWADA, Andhra Pradesh - 520007, INDIA |
C46383691 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its
beneficial owners, controlling shareholders or senior officers as terrorist or
terrorist organization or whom notice had been received that all financial
transactions involving their assets have been blocked or convicted, found
guilty or against whom a judgement or order had been entered in a proceedings
for violating money-laundering, anti-corruption or bribery or international
economic or anti-terrorism sanction laws or whose assets were seized, blocked,
frozen or ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the
property or assets of the subject are derived from criminal conduct or a
prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 65.63 |
|
UK Pound |
1 |
Rs. 101.73 |
|
Euro |
1 |
Rs. 73.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.