|
|
|
MIRA INFORM REPORT
|
Report No. : |
501666 |
|
Report Date : |
05.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
CHEENU ENTERPRISES |
|
|
|
|
Registered
Office : |
252/B, Mariammam Koil Street, Peeluamedu Pudur, Opposite Shanthi Theatre,
Coimbatore – 641004, Tamilnadu |
|
Mobile No.: |
91-9659455000 (Mr.
Prabhu Devarajan) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of
Establishment : |
1980 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 48.499 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
3210025975 |
|
|
|
|
TIN No.: |
33562100076 |
|
|
|
|
GSTIN : [Goods & Service Tax Registration No.] |
33AABFC2951P1ZD |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABFC2951P |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Trader, Exporter of Coconut Product and Distributor
of Electronic Product. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 1980 as a partnership firm and it is having good track. It is a trader of coconut products and distributor of electronic products. For the financial year 2017, the firm has increased in its revenue from operations as compared to previous year and maintained average profitability margin of 1.90%. Rating takes into consideration firm’s sound financial risk profile marked by healthy capital base and average debt balance sheet. The firm also derives strength from its established track records of business operations, improvement in the revenue profile and comfortable liquidity position. Trade relations are reported as fair. Business is active. Payment terms are seems to be regular. In view of aforesaid, the firm can be considered for business dealings at usual trade terms and condition. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 05.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr.
Prabhu Devarajan |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9659455000 |
|
Date : |
31.03.2018 |
LOCATIONS
|
Registered Office : |
252/B, Mariammam Koil Street, Peeluamedu Pudur, Opposite Shanthi
Theatre, Coimbatore – 641004, Tamilnadu, India |
|
Tel. No.: |
91-422-2564166/ 2568600 |
|
Mobile No.: |
91-9659455000 (Mr.
Prabhu Devarajan) |
|
Fax No.: |
91-422-2563685 |
|
E-Mail : |
|
|
|
|
|
Branch 1 : |
214, Suramangalam, Main Road, Salem, Tamilnadu, India |
|
|
|
|
Branch 2 : |
169, Perundurai Road, Palayapalayam, Erode, Tamilnadu, India |
PARTNERS
|
Name : |
Mrs. M. Chaithanya Keerthy |
|
Designation : |
Partner |
|
Address : |
No.45A/70, Dr. Jaganatha Nagar, Opposite Coimbatore
Medical College, |
|
|
|
|
Name : |
Mr. P. Moorthy |
|
Designation : |
Partner |
|
Address : |
252/101, Mariamman Koil Street, Peelamedu Pudur, Coimbatore - 641004, Tamil Nadu, India |
|
|
|
|
Name : |
Ms. Cheenu Amma Aalloy Private Limited |
|
Designation : |
Partner |
|
Address : |
379-380, Mariamman Koil Street, Peelamedu Pudur, Coimbatore - 641004, Tamil Nadu, India |
KEY EXECUTIVES
|
Name : |
Mr.
Prabhu Devarajan |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter of Coconut Product and Distributor
of Electronic Product. (Confirmed by management) |
|
|
|
|
Products : |
40 (Approximately) |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Samsung |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
South Asian |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment, Cheque and Credit |
|
|
|
|
Purchasing : |
Advance Payment, Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Retailers, End Users
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
40 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
M. Alagiriswamy and Company Chartered Accountants |
|
Address : |
No. 16, 6th Street, TATABAD, Coimbatore, Tamilnadu -641012,
India |
|
Mobile No.: |
91-9942911828 |
|
E-Mail : |
|
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Membership : |
Not Available |
|
|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
As on 31.03.2017
PARTNER’S CAPITAL
ACCOUNT
(INR In Million)
|
Particulars : |
Amount |
|
P. Moorthy |
0.070 |
|
M. Chaitanya
Keerthy |
0.070 |
|
Cheenu Amma
Alloy Private Limited |
0.060 |
|
Total : |
0.200 |
CURRENT ACCOUNT
|
Particulars : |
Amount |
|
P. Moorthy |
36.572 |
|
M. Chaitanya
Keerthy |
3.146 |
|
Cheenu Amma Alloy
Private Limited |
8.581 |
|
Total : |
48.299 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
EQUITY
AND LIABILITIES |
|
|
|
|
|
1] Partner’s Capital Account |
0.200 |
0.200 |
0.200 |
|
|
2] Partners’ Current Account |
48.299 |
44.892 |
28.807 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
5] God Accounts |
0.001 |
0.001 |
0.001 |
|
|
NETWORTH |
48.500 |
45.093 |
29.008 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
147.109 |
133.433 |
144.517 |
|
|
2] Unsecured Loans |
3.621 |
33.058 |
3.625 |
|
|
3] Bank OD Account |
271.964 |
228.209 |
202.183 |
|
|
TOTAL BORROWING |
422.694 |
394.700 |
350.325 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
471.194 |
439.793 |
379.333 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
135.893 |
137.581 |
141.581 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.481 |
0.481 |
0.293 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
78.573 |
52.280 |
73.648 |
|
|
Sundry Debtors |
191.558 |
225.290 |
209.328 |
|
|
Cash & Bank Balances |
13.162 |
6.162 |
9.633 |
|
|
Other Current Assets |
143.956 |
50.289 |
19.826 |
|
|
Loans & Advances and Deposit |
36.686 |
47.026 |
22.517 |
|
Total
Current Assets |
463.935
|
381.047
|
334.952
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
67.303 |
46.266 |
78.163 |
|
|
Other Current Liabilities |
61.105 |
26.867 |
20.592 |
|
|
Provisions |
1.640 |
8.049 |
1.536 |
|
Total
Current Liabilities |
130.048
|
81.182
|
100.291
|
|
|
Net Current Assets |
333.887
|
299.865
|
234.661
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.933 |
1.866 |
2.798 |
|
|
|
|
|
|
|
|
TOTAL |
471.194 |
439.793 |
379.333 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1149.404 |
948.216 |
1094.315 |
|
|
Other Income |
101.797 |
99.123 |
74.797 |
|
|
TOTAL
|
1251.201 |
1047.339 |
1169.112 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1092.431 |
912.008 |
1057.127 |
|
|
Other expenses |
0.000 |
0.086 |
0.000 |
|
|
Wages |
0.228 |
0.502 |
0.479 |
|
|
Clearing a Forwarding |
4.730 |
0.356 |
0.301 |
|
|
Carriage Inward |
3.756 |
0.000 |
0.000 |
|
|
Fright Charges |
5.857 |
2.791 |
3.242 |
|
|
Inspection Charges |
0.457 |
0.000 |
0.000 |
|
|
licenses proceeding Charges |
0.055 |
0.038 |
0.095 |
|
|
Packaging Charges |
0.433 |
0.000 |
0.000 |
|
|
Refining Charges |
0.043 |
0.000 |
0.000 |
|
|
Store and Consumables |
0.203 |
0.450 |
0.388 |
|
|
Wheeling Transmission |
4.036 |
0.151 |
1.891 |
|
|
Advertisement |
0.133 |
0.028 |
0.062 |
|
|
Audit Fees |
0.049 |
0.049 |
0.022 |
|
|
Bad Debts |
1.420 |
0.000 |
0.266 |
|
|
Bonus |
0.633 |
0.738 |
0.541 |
|
|
Building Maintenance |
0.000 |
0.000 |
0.024 |
|
|
Promotion Expenses |
0.032 |
0.000 |
0.000 |
|
|
Computer maintenance |
0.094 |
0.008 |
0.021 |
|
|
Consultancy Charges |
0.002 |
0.000 |
0.020 |
|
|
DGFT duty Interest |
0.003 |
0.000 |
0.000 |
|
|
Discount |
4.993 |
39.325 |
24.842 |
|
Donation |
0.000 |
0.005 |
0.000 |
|
|
|
Driver |
0.149 |
0.109 |
0.093 |
|
|
ED Charges |
0.095 |
0.089 |
0.021 |
|
|
Electrical Maintenance |
0.000 |
0.000 |
0.011 |
|
|
Penalty |
0.000 |
0.011 |
0.000 |
|
|
ESI Contribution |
0.021 |
0.017 |
0.014 |
|
|
FCL Exchange |
0.026 |
0.008 |
2.005 |
|
|
Fright |
0.000 |
0.002 |
0.032 |
|
|
Fuel Expenses |
3.353 |
1.551 |
0.032 |
|
|
Godown Expenses |
0.034 |
0.338 |
2.128 |
|
|
Incentive |
0.191 |
0.450 |
0.993 |
|
|
Insurance |
0.905 |
0.286 |
0.342 |
|
|
Legal Expenses |
0.120 |
0.000 |
0.000 |
|
|
Loading & Unloading |
0.011 |
1.040 |
0.608 |
|
|
Loss on sale of asset |
0.406 |
0.331 |
0.000 |
|
|
Licenses proceeding Charges |
0.229 |
0.299 |
0.263 |
|
|
Miscellaneous expenses |
0.121 |
0.060 |
0.047 |
|
|
Office rent |
0.168 |
0.007 |
0.000 |
|
|
Office Maintenance |
0.045 |
0.198 |
0.182 |
|
|
Partners salary |
0.208 |
0.360 |
0.360 |
|
|
PF Contribution |
0.360 |
0.287 |
0.251 |
|
|
Pooja Expenses |
0.310 |
0.042 |
0.330 |
|
|
Postage and Courier |
0.043 |
0.066 |
0.067 |
|
|
Printing & Stationery |
0.119 |
0.166 |
0.132 |
|
|
Rent |
0.155 |
0.060 |
0.355 |
|
|
Repair and Maintenance |
0.060 |
0.041 |
0.106 |
|
|
Round Off |
0.475 |
0.002 |
0.026 |
|
|
REC- Insurance Fees |
0.031 |
0.043 |
0.019 |
|
|
REC-Trading Fees |
0.067 |
0.057 |
0.016 |
|
|
Salary |
6.793 |
6.819 |
5.748 |
|
|
Sales promotion |
1.255 |
1.090 |
0.939 |
|
|
Sales Tax |
0.339 |
0.000 |
0.084 |
|
|
Staff Welfare |
0.319 |
0.343 |
0.307 |
|
|
Services Tax |
0.008 |
0.014 |
0.013 |
|
|
Solar panel Cleaning |
0.131 |
0.120 |
0.000 |
|
|
Subscription Fees |
0.006 |
0.004 |
0.000 |
|
|
Telephone |
0.255 |
0.273 |
0.280 |
|
|
Traveling |
2.437 |
1.779 |
1.954 |
|
|
Vehicle |
0.239 |
0.139 |
0.160 |
|
|
Vehicle Maintenance |
0.987 |
0.929 |
0.930 |
|
|
Weight bright Maintenance |
0.064 |
0.058 |
0.025 |
|
|
Pre-operative Expenses |
0.932 |
0.933 |
0.932 |
|
|
TOTAL |
1141.055 |
974.956 |
1109.126 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
110.146 |
72.383 |
59.986 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
78.986 |
37.416 |
40.913 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
31.160 |
34.967 |
19.073 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
9.305 |
9.559 |
10.166 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
21.855 |
25.408 |
8.907 |
The above information has been denied by Mr. Prabhu Devarajan (Chief Executive
Officer)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Operating Income * 365
Days) |
60.83 |
86.72 |
69.82 |
|
|
|
|
|
|
Account Receivables Turnover (Operating Income
/ Sundry Debtors) |
6.00 |
4.21 |
5.23 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
22.49 |
18.52 |
26.99 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.40 |
1.38 |
0.81 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.81 |
0.53 |
0.42 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.47 |
0.48 |
0.52 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
3.11 |
3.69 |
5.11 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.76 |
2.53 |
3.58 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
2.80 |
3.05 |
4.88 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.39 |
1.93 |
1.47 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT
/ Sales) * 100) |
% |
1.90 |
2.68 |
0.81 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.63 |
4.88 |
1.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
45.06 |
56.35 |
30.71 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
3.48 |
3.36 |
3.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.89 |
2.90 |
2.54 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.08 |
0.09 |
0.06 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.11 |
3.69 |
5.11 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
3.48 |
3.36 |
3.25 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Partners’ Capital Account |
0.200 |
0.200 |
0.200 |
|
Current Account |
28.807 |
44.892 |
48.299 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
29.007 |
45.092 |
48.499 |
|
|
|
|
|
|
Secured borrowings |
144.517 |
133.433 |
147.109 |
|
Unsecured borrowings |
3.625 |
33.058 |
3.621 |
|
Bank OD Account |
271.964 |
228.209 |
202.183 |
|
Total
borrowings |
420.106 |
394.700 |
352.913 |
|
Debt/Equity
ratio |
14.483 |
8.753 |
7.277 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Sales |
1094.315 |
948.216 |
1149.404 |
|
|
|
(13.351) |
21.218 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
1094.315 |
948.216 |
1149.404 |
|
Profit |
8.907 |
25.408 |
21.855 |
|
|
0.81% |
2.68% |
1.90% |
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 |
No |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
No |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
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 |
No |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Unsecured Loan |
3.621 |
33.058 |
|
Bank OD Account |
271.964 |
228.209 |
|
Total |
275.585 |
261.267 |
FIXED ASSET
- Building
- Furniture
- Electrical Fittings
- Computer
- Vehicle
- Office equipment
- Software
- UPS
- Laptop
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
UK Pound |
1 |
INR 91.45 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
TRUP |
SCORE FACTORS
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.