MIRA INFORM REPORT

 

 

Report No. :

342976

Report Date :

30.09.2015

 

IDENTIFICATION DETAILS

 

Name :

EXPERT GLOBAL SOLUTIONS PRIVATE LIMITED (w.e.f.17.09.2009)

 

 

Formerly Known As :

EXPERT NET-CAD SOLUTIONS PRIVATE LIMITED

 

 

Registered Office :

Plot No T-11, MIDC Area, Chikalthana, Aurangabad – 431210, Maharashtra

Tel. No.:

91-240-6600200/570

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

01.07.1999

 

 

Com. Reg. No.:

11-120603

 

 

Capital Investment / Paid-up Capital :

Rs. 0.226 Million

 

 

CIN No.:

[Company Identification No.]

U72900MH1999PTC120603

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

NSKE00425F

 

 

PAN No.:

[Permanent Account No.]

AAACE8345H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into providing engineering services of modeling tool design, analysis etc. and also trading and exporting of Coffee vending machine parts.

 

 

No. of Employees :

225 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 102700

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1999. It is engaged into providing engineering services of modeling tools design, analysis etc. and also trading and exporting of coffee vending machine parts.

 

For the financial year 2014, the company has satisfactory sales turnover but there is decline in its profit margin compared to previous year which is marked at 4.92%.

 

The company possesses adequate net worth base marked by decline in its borrowings and there is favourable gap between trade payables and receivables.

 

Trade relations are fair. Business is active. Payments 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

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 (GENERAL DETAILS)

 

Name :

Mrs. Neha Deshkar

Designation :

Finance Manager

Contact No.:

91-240-6604570

Date :

28.09.2015

 

 

LOCATIONS

 

Registered Office :

Plot No T-11, MIDC Area, Chikalthana, Aurangabad – 431210, Maharashtra, India

Tel. No.:

91-240-6600200/570

Fax No.:

Not Available

E-Mail :

nehad@expertgs.com

Website :

www.expertgs.com

 

 

Branch Office :

“G O Square” B Building, 1st Floor, Office No. 110 and 111, Near Croma Showroom, Kaspate Chowk, Wakad,  Pune – 411057, Maharashtra, India

Tel. No.:

91-20-65109110

 

 

Warehouse :

MIDC, Walunj, Aurangabad, Maharashtra, India

 

 

Overseas Office :

Located At

  • United States of America
  • Germany

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Sachin Kher

Designation :

Director

Address :

Plot No.41,Khivansara Park, Near Vishwabharti Colony, Aurangabad – 431005, Maharashtra, India

Date of Birth/Age :

02.01.1969

Date of Appointment :

01.07.1999

DIN No.:

01684843

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

U72200MH1996PTC099655

EXPERT SOLUTIONS (INDIA) PRIVATE LIMITED

Director

26/08/1996

26/08/1996

-

Active

NO

2

U72900MH1999PTC120603

Expert Global Solutions Private Limited

Director

01/07/1999

01/07/1999

-

Active

NO

3

U72900MH2003PTC261705

DA VINCI DESIGN SOLUTIONS PRIVATE LIMITED

Director

29/09/2012

27/03/2012

-

Active

NO

 

 

Name :

Mr. Prashant Vijay Deshpande

Designation :

Director

Address :

7 Samadhan Colony Behind Dist Court, Aurangabad – 431005, Maharashtra, India

Date of Birth/Age :

28.08.1965

Date of Appointment :

01.07.1999

DIN No.:

01684995

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

U72200MH1996PTC099655

EXPERT SOLUTIONS (INDIA) PRIVATE LIMITED

Director

17/05/1996

17/05/1996

-

Active

NO

2

U72900MH1999PTC120603

Expert Global Solutions Private Limited

Director

01/07/1999

01/07/1999

-

Active

NO

3

U74900MH2008PTC219193

VIMATRAY Design Solutions Private Limited

Director

03/02/2009

03/02/2009

31/03/2012

Active

NO

4

U74900PN2010PTC136244

Three D Design Automation Solutions Private Limited

Director

05/05/2010

05/05/2010

31/03/2012

Active

NO

5

U72900MH2003PTC261705

DA VINCI DESIGN SOLUTIONS PRIVATE LIMITED

Additional director

20/10/2014

20/10/2014

-

Active

NO

6

U74990MH2015NPL266188

SARASWATI BHUVAN ALUMNI ASSOCIATION

Director

01/07/2015

01/07/2015

-

Active

NO

 

 

Name :

Mr. Pravin Kamalakar Deshpande

Designation :

Director

Address :

30, Aditya Nagar, Jawahar Colony, Aurangabad – 431005, Maharashtra, India

Date of Birth/Age :

02.12.1963

Date of Appointment :

01.07.1999

DIN No.:

01685066

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

U72200MH1996PTC099655

EXPERT SOLUTIONS (INDIA) PRIVATE LIMITED

Director

17/05/1996

17/05/1996

-

Active

NO

2

U72900MH1999PTC120603

Expert Global Solutions Private Limited

Director

01/07/1999

01/07/1999

-

Active

NO

 

 

Name :

Mr. Mukund Achyut Kulkarni

Designation :

Director

Address :

L-4, Chetana Nagar, Aurangabad – 431005, Maharashtra, India

Date of Birth/Age :

22.01.1965

Date of Appointment :

18.05.2004

DIN No.:

03481615

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

U72200MH1996PTC099655

EXPERT SOLUTIONS (INDIA) PRIVATE LIMITED

Director

17/05/2004

17/05/2004

-

Active

NO

2

U72900MH1999PTC120603

Expert Global Solutions Private Limited

Director

18/05/2004

18/05/2004

-

Active

NO

3

U72900MH2003PTC261705

DA VINCI DESIGN SOLUTIONS PRIVATE LIMITED

Director

29/09/2012

27/03/2012

-

Active

NO

4

L55101PN1986PLC133909

DHANADA CORPORATION LIMITED

Director

16/12/2014

16/12/2014

12/05/2015

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mrs. Neha Deshkar

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Sachin Arvind Kher

 

3982

Pravin Kamalakar Deshpande

 

3982

Prashant Vijay Deshpande

 

3982

Expert Solutions (I) Private Limited, India

 

3982

Mukund Achyut Kulkarni

 

3982

Dalip Bhuchar

 

1087

Naveen Sharma

 

652

Nitin Manikrao Nalgirkar

 

1087

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Bodies corporate

17.60

Directors or relatives of Directors

82.40

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into providing engineering services of modeling tool design, analysis etc. and also trader and Exporter of Coffee vending machine parts.

 

 

Products/Services :
  • 3s Design Services
  • Cam Designing Solution
  • Animation Design Services

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

Germany

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Sanjay Technoplast Private Limited, Aurangabad, Maharashtra, India

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 :

Wholesalers, Retailers, End Users and Others

 

Reference :

Honeywell Automation India Limited, Pune, Maharashtra, India

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 :

225 (Approximately) 

 

 

Bankers :
  • State Bank of India, IF Branch, Kranti Chowk, Aurangabad - 431005, Maharashtra, India

 

Bank Name

State Bank of India Assets and Small Medium Enterprises

Branch

Zonal Office Building, Plot No. 79, N-5, CIDCO, Aurangabad - 431003, 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

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Export Packing Credit

4.190

2.172

SBI- Term Loan a/c (31135926368)

0.000

1.184

SB1- Term Loan a/c (32255612971)

3.681

4.893

 

 

 

Total

7.871

8.249

 

Note:

 

Above bank loans are secured against mortgage of land and Building situated at T11, STPI, MIDC, Chikalthana and Personal Guarantee of Directors. No special remuneration/compensation is payable to Directors for their personal guarantee.

 

 

Auditors :

 

Name :

Vithal Deshmukh and Associates

Chartered Accountants

Address :

First Floor, Tapan Down Town, Adalat Road, Aurangabad – 431001, Maharashtra, India

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

ABIPD0102B

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates :
  • Expert Solutions (I) Private Limited
  • Expert 3D Solutions Private Limited

 

 

Subsidiaries :
  • Expert Global Solutions INC.
  • Da Vinci Design Solutions Private Limited
  • Expert Global Solutions (Pty) Private Limited

 

 

CAPITAL STRUCTURE

 

After 30.09.2014

 

Authorised Capital : Rs. 5.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 4.752 Million

 

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs. 5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

22631

Equity Shares

Rs.10/- each

Rs. 0.226 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

0.226

0.226

0.226

(b) Reserves & Surplus

35.727

32.714

26.741

(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)

35.953

32.940

26.967

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

7.871

12.266

15.392

(b) Deferred tax liabilities (Net)

1.022

1.005

0.766

(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)

8.893

13.271

16.158

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

4.131

5.838

5.710

(c) Other current liabilities

0.427

0.795

0.488

(d) Short-term provisions

13.359

10.353

8.451

Total Current Liabilities (4)

17.917

16.986

14.649

 

 

 

 

TOTAL

62.763

63.197

57.774

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

16.614

18.448

12.303

(ii) Intangible Assets

4.450

5.407

2.563

(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

15.966

14.166

10.068

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

1.164

5.910

(e) Other Non-current assets

0.912

0.562

0.482

Total Non-Current Assets

37.942

39.747

31.326

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

2.133

1.476

0.473

(c) Trade receivables

9.738

14.043

19.249

(d) Cash and cash equivalents

0.390

1.344

0.173

(e) Short-term loans and advances

2.107

0.490

2.585

(f) Other current assets

10.453

6.097

3.968

Total Current Assets

24.821

23.450

26.448

 

 

 

 

TOTAL

62.763

63.197

57.774

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

71.308

67.131

65.276

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

15.022

12.114

9.079

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

5.055

3.271

2.293

 

 

 

 

 

Less

Exceptional Item

0.055

0.000

0.000

 

 

                          

 

 

PROFIT/ (LOSS)  BEFORE TAX

5.000

8.843

6.786

 

 

 

 

 

Less

TAX

1.494

2.791

1.990

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

3.506

6.052

4.796

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

25.349

19.981

16.573

 

 

 

 

 

Less

ADJUSTMENTS

(0.415)

0.000

(0.829)

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

0.351

0.605

0.480

 

Dividend on equity shares @Rs. 10/- each

0.068

0.068

0.068

 

Dividend for the earlier years

0.000

0.000

0.000

 

Dividend distribution tax and Interest thereon

0.011

0.011

0.011

 

Total

0.430

0.684

0.559

 

 

 

 

 

 

Balance Carried to the B/S

28.010

25.349

19.981

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

61.253

71.137

49.681

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 154.92

267.42 

211.92 

 

 

Expected Sales (2015-2016):  Rs. 150.000 Million

 

The above information has been parted by Mrs. Neha Deshkar (Finance Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

4.92

9.02

7.35

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.68

18.04

14.22

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14

0.27

0.25

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.22

0.37

0.57

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.39

1.38

1.81

 

 

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

0.226

0.226

0.226

Reserves & Surplus

26.741

32.714

35.727

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

26.967

32.940

35.953

 

 

 

 

long-term borrowings

15.392

12.266

7.871

Short term borrowings

0.000

0.000

0.000

Total borrowings

15.392

12.266

7.871

Debt/Equity ratio

0.571

0.372

0.219

 

 

 

 

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)

Sales

65.276

67.131

71.308

 

 

2.842

6.222

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

65.276

67.131

71.308

Profit

4.796

6.052

3.506

 

7.35%

9.02%

4.92%

 

 

 

 

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

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

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from 1st Floor, Sarada Arcade friends Co-operative Housing Society, Station road, Aurangabad – 431005, Maharashtra, India to the present address w.e.f. 10.08.2012

 

 

OPERATIONAL PERFORMANCE

 

The "Board of Directors" views the operations of the Company during 2013-14 as follows:

 

USA Operations:

 

Their USA operations for the year 2013-14 registered 13% reduction in revenue over the "last year. This happened due to reduction in business from two of their customers, one from Shipping domain and another from an equipment manufacturer. They expect this will continue in current year as well. Later next year this situation may improve.

 

They are experiencing slowdown in USA in the year 2013-14. They may not be able to grow the business; on the other hand there might be slightly negative growth. The management is taking efforts to control the costs and improve operational efficiency.

 

Europe Operation:

 

Their Europe operation for the year 2013-14 has registered 29 % growth in revenue over the last year. Their consistent efforts of last 3 years in marketing their services in Europe have yielded positive results and we expecting some few long term services contracts in the year 2014-15. They had one major setback from their customer in Netherlands resulting into bad debt. That had major impact on overall profitability.

 

India Operation:

 

Their ongoing strategy to strengthen Indian operations has yielded positive results. The company has grown and this will continue to grow in the year 201415 as well.

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From Directors

 

 

Prashant Deshpande

0.000

1.141

Pravin Deshpande

0.000

1.154

Sachin Kher

0.000

0.722

From Others:

 

 

B.C. Chinchalkar - HUF

0.000

0.500

Shivani Dhande

0.000

0.300

Pushpa Kulkarni

0.000

0.200

 

 

 

Total

0.000

4.017

 

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10010104

30/05/2006

1,000,000.00

STATE BANK OF INDIA

KRANTICHOWK AURANGABAD, MUMBAI, Maharashtra - 4310 05, INDIA

A02408003

2

10010114

30/05/2006

1,000,000.00

STATE BANK OF INDIA

KRANTI CHOWK, AURANGABAD, Maharashtra - 431001, INDIA

A02449619

3

90145619

29/05/2015 *

28,200,000.00

State Bank of India

Small & Medium Enterprises City Credit Centre, Sai Square Building, 1st Floor, Osmanpura Circle, Aurangabad, Maharashtra - 431005, INDIA

C55898324

4

80010314

02/08/2006 *

3,500,000.00

STATE BANK OF INDIA

KRANTICHOWK AURANGABAD, AURANGABAD, Maharashtra - 
431005, INDIA

-

5

90142988

10/11/2000 *

675,000.00

DEOGIRI NAGARI SAHKARI BANK LIMITED

KRANTI CHOWK BRANCH, AURANGABAD, Maharashtra, INDIA

-

 

*Date of charge modification

 

 

FIXED ASSETS

  • Land and Building
  • Plant and Machinery
  • Office Equipment
  • Fire Equipment
  • Electrical Fitting
  • 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.66.08

UK Pound

1

Rs.100.32

Euro

1

Rs.73.81

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

AMR

 

 

Report Prepared by :

ART

 

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

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

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

 

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

 

--

 

 

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.