|
|
|
MIRA INFORM REPORT
|
Report No. : |
502142 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ECOMOTEL HOTEL LIMITED |
|
|
|
|
Registered
Office : |
Hincon House, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai - 400083, Maharashtra |
|
Tel. No.: |
91-22-40256400 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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|
|
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Date of
Incorporation : |
18.08.2008 |
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|
|
|
Com. Reg. No.: |
11-185873 |
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|
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Capital
Investment / Paid-up Capital : |
INR 198.794 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55101MH2008PLC185873 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
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TIN No : |
27205213200 |
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|
|
|
GSTIN : [Goods & Service Tax Registration No.] |
27AACCE0383M1ZH |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AACCE0383M |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in Providing Hospitality Services. (Registered Activity) |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Poor |
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|
|
|
Payment Behaviour : |
Slow and delayed |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject was incorporated in the year 2008. It is a (73.27) Joint
venture between Celebration Resorts and Hotels India private Limited and Lavasa
Corporate Limited. Management has not filed its financial record with government
department for the year 2017 and same are not available from any other
sources. As per the financial of 2016, the company has reported a declined in
it’s revenue as compared to the previous year and has incurred operational
losses. The moderate financial position of the company is reflected by
negative reserve base along with very high debt balance sheet profile and
poor liquidity position. Rating is further constrained on account of delayed in debt servicing. Business is active. Payment seems to be slow and delayed. In view of aforesaid, the concern can be considered for business
dealings on safe and secured 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Loans = D |
|
Rating Explanation |
Lowest credit quality and very low prospectus of recovery. |
|
Date |
06.10.2016 |
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 07.04.2018
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 DECLINED
Management non-cooperative (Tel No.: 91-22-40256400)
LOCATIONS
|
Registered Office : |
Hincon House, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai - 400083, Maharashtra, India |
|
Tel. No.: |
91-22-40256400/ 6000 |
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Fax No.: |
91-22-40256889 |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Kamaljeet Hora |
||
|
Designation : |
Director |
||
|
Address : |
A-1, Sai Nagar, Raipur - 492001, Chhattisgarh, India |
||
|
Date of Birth/Age : |
15.08.1968 |
||
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PAN : |
AAOPH8534Q |
||
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Date of Appointment : |
21.10.2015 |
||
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DIN No : |
00605135 |
||
|
|
|
||
|
Name : |
Mr. Sureshkumar Prabhakar Pendharkar |
||
|
Designation : |
Director |
||
|
Address : |
E 11/1:2, Sector 1, Vashi, Navi Mumbai – 400703, Maharashtra, India |
||
|
Date of Birth/Age : |
04.05.1946 |
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PAN : |
AAAPP1643G |
||
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Date of Appointment : |
18.08.2008 |
||
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DIN No : |
02284028 |
||
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|
|
||
|
Name : |
Mr. Hamshire Rodriguez |
||
|
Designation : |
Director |
||
|
Address : |
Hamdale, I/532, Fort Nagar, Fort Kochi Ernakulam – 682001, Kerala, India |
||
|
Date of Appointment : |
15.01.2016 |
||
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DIN No : |
06538992 |
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|
|
||
|
Name : |
Mr. Sandeep Surinder Pushkarna |
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|
Designation : |
Manager |
||
|
Address : |
2b, 605-606, Siddachal Ph 6, Off Pokhran Road 2, Thane - 400610, Maharashtra, India |
||
|
Date of Birth/Age : |
18.10.1972 |
||
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Date of Appointment : |
25.03.2013 |
||
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PAN No : |
ABPPP1938G |
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|
|
||
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Name : |
Ms. Amruta Rajendra Bam |
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|
Designation : |
Director |
||
|
Address : |
105, Rama Narayan Co-Op HSG Society, Hanuman Ali, Chawadi Naka, Pen – 402107, Maharashtra, India |
||
|
Date of Appointment : |
15.01.2016 |
||
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DIN No : |
07136342 |
||
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|||
|
Name : |
Mr. Hemant Pandurang Bangar |
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Designation : |
Additional Director |
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Address : |
Shiv Shakti Nagar, 365, Collector Colony, R.C. Road, Chembur, Mumbai - 400074 Maharashtra, India |
|
|
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Date of Appointment : |
29.12.2017 |
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|
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DIN No : |
07989667 |
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KEY EXECUTIVES
|
Name : |
Ms. Smita Ashish Kelkar |
|
Designation : |
Company Secretary |
|
Address : |
A-101, Piccadilly, Shiv Sai Paradise Near Fatima Church, Majiwada, Thane – 400601, Maharashtra, India |
|
PAN No : |
ANEPM3272B |
|
Date of Appointment : |
02.11.2016 |
|
|
|
|
Name : |
Mr. Sanjay Pandharinath Kakade |
|
Designation : |
Chief Finance Officer |
|
Address : |
Rohini F-003, DSK Vishwa, Dhayri, Pune – 411041, Maharashtra, India |
|
Experience : |
AHIPK4362Q |
|
Date of Appointment : |
15.01.2016 |
MAJOR SHAREHOLDERS
As on 31.03.2016
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Lavasa Corporation Limited |
8632240 |
50.99 |
|
Celebration Resorts and Hotels India Private Limited |
8297147 |
49.01 |
|
Total |
16929387 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 12.07.2016
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Providing Hospitality Services. (Registered Activity) |
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Products / Services
: |
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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 |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
K.S. Aiyar and Company Chartered Accountants |
|
Address : |
# F-7 Laxmi Mills, Shakti Mills Lane (Off Dr. EMoses Road), Mahalaxmi, Mumbai 400 011, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFK6843P |
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|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Holding Company
& Ultimate Holding Company : |
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Parent Company : |
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|
Fellow Subsidiary
Companies & Other Related Parties : |
(CIN - U55101CT1993PTC007755)
(CIN -U74900MH2010PLC199381)
(CIN - U74990MH2011PLC219078)
|
CAPITAL STRUCTURE
After 12.07.2016
Authorised Capital : INR 260.000 Million
Issued, Subscribed & Paid-up Capital : INR 198.794
Million
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21000000 |
Equity Shares |
INR 10/- each |
INR 210.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17480947 |
Equity Shares |
INR 10/- each |
INR 174.809 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16929447 |
Equity Shares |
INR 10/- each |
INR 169.294 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
169.294 |
97.018 |
90.518 |
|
(b) Reserves and Surplus |
(166.580) |
(150.578) |
(134.989) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
19.300 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
22.014 |
(53.560) |
(44.471) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
84.500 |
116.498 |
136.500 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.752 |
0.502 |
0.500 |
|
Total Non-current Liabilities
(3) |
85.252 |
117.000 |
137.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
49.702 |
52.702 |
|
(b) Trade
payables |
24.172 |
33.247 |
32.047 |
|
(c) Other
current liabilities |
95.999 |
98.103 |
82.566 |
|
(d) Short-term
provisions |
0.555 |
0.467 |
0.333 |
|
Total Current
Liabilities (4) |
120.726 |
181.519 |
167.648 |
|
|
|
|
|
|
TOTAL |
227.992 |
244.959 |
260.177 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
180.519 |
198.073 |
220.258 |
|
(ii)
Intangible Assets |
0.319 |
0.381 |
0.631 |
|
(iii) Tangible assets
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
5.333 |
4.055 |
4.099 |
|
(d)
Long-term loans and advances |
3.197 |
3.230 |
3.196 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
189.368 |
205.739 |
228.184 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3.012 |
2.685 |
1.679 |
|
(c) Trade
receivables |
23.729 |
27.184 |
15.158 |
|
(d) Cash and
bank balances |
5.372 |
4.451 |
7.854 |
|
(e)
Short-term loans and advances |
6.511 |
4.900 |
7.302 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
38.624 |
39.220 |
31.993 |
|
|
|
|
|
|
TOTAL |
227.992 |
244.959 |
260.177 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
121.855 |
128.160 |
117.686 |
|
|
Other Income |
0.011 |
0.140 |
0.508 |
|
|
TOTAL |
121.866 |
128.300 |
118.194 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
7.605 |
7.836 |
8.124 |
|
|
Employee benefit expense |
31.400 |
30.606 |
30.756 |
|
|
Other expenses |
57.734 |
52.579 |
49.600 |
|
|
TOTAL |
96.739 |
91.021 |
88.480 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
25.127 |
37.279 |
29.714 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
22.339 |
29.855 |
35.801 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.788 |
7.424 |
(6.087) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
20.069 |
22.968 |
26.302 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(17.281) |
(15.544) |
(32.389) |
|
|
|
|
|
|
|
Less |
TAX |
(1.279) |
0.045 |
0.572 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(16.002) |
(15.589) |
(32.961) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.915) |
(1.533) |
(329) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
37.000 |
23.000 |
12.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
19.862 |
23.856 |
14.318 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
18.902 |
24.599 |
14.318 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
71.08 |
77.42 |
47.01 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.14 |
4.71 |
7.76 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
1160.13 |
1548.64 |
1439.83 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
8.34 |
13.88 |
17.70 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.14 |
0.19 |
0.13 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
1.06 |
1.31 |
1.22 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
5.52 |
(3.53) |
(4.52) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
5.48 |
(3.39) |
(3.77) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
8.21 |
(3.71) |
(4.97) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.12 |
1.25 |
0.83 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(13.13) |
(12.16) |
(28.01) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(7.02) |
(6.36) |
(12.67) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(72.69) |
29.11 |
74.12 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.32 |
0.22 |
0.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.29 |
0.20 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.10 |
(0.22) |
(0.17) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.72 |
1.95 |
2.22 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.32 |
0.22 |
0.19 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
90.518 |
97.018 |
169.294 |
|
Reserves & Surplus |
(134.989) |
(150.578) |
(166.580) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
19.300 |
|
Net
worth |
(44.471) |
(53.560) |
22.014 |
|
|
|
|
|
|
long-term borrowings |
136.500 |
116.498 |
84.500 |
|
Short term borrowings |
52.702 |
49.702 |
0.000 |
|
Current maturities of
long-term debts |
12.000 |
23.000 |
37.000 |
|
Total
borrowings |
201.202 |
189.200 |
121.500 |
|
Debt/Equity
ratio |
(4.524) |
(3.532) |
5.519 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
117.686 |
128.160 |
121.855 |
|
|
|
8.900 |
(4.920) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
117.686 |
128.160 |
121.855 |
|
Profit/ (Loss) |
(32.961) |
(15.589) |
(16.002) |
|
|
(28.01
%) |
(12.16
%) |
(13.13
%) |
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 |
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) |
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 |
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 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 |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted from Hincon House, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai – Maharashtra, India 400083 to the present address w.e.f. 16.11.2011
OPERATIONS AND FUTURE
OUTLOOK
The compnay has set up the Mercure Hotel at Lavasa. This 130 room budget hotel is being operated by the Accor Group. The Mercure assures the traveler, comfort of a luxury hotel at an affordable cost. Each Mercure hotel has its own personality and the hospitality know-how of the group makes every guests stay unique, warm and individual. The hotel was inaugurated in August 2010. Mercure has established itself as economy hotel in Dasve and has achieved an average of 62% occupancy levels. Its operating systems have been established and all key professionals are on board. The hotel is poised for better business targets as soon as Dasve is better equipped from tourists perspective
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short Term
Borrowing |
|
|
|
Intercorporate borrowings |
0.000 |
49.702 |
|
Total |
0.000 |
49.702 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
C64018237 |
10188249 |
STATE BANK OF PATIALA |
26/10/2009 |
14/08/2015 |
148500000.0 |
COMMERCIAL BRANCH, ATLANTA, 1ST FLOOR, NARIMAN POINT, MUMBAI-400021, MAHARSHTRA, INDIA |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 64.98 |
|
|
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.