|
|
|
MIRA INFORM REPORT
|
Report No. : |
502092 |
|
Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ORIENT ELECTRIC LIMITED |
|
|
|
|
Registered
Office : |
Unit VIII, Plot No. 7, Bhoinagar, Bhubaneswar, Cuttack – 751012,
Orissa |
|
Tel. No.: |
91-674-2396930 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
10.10.2016 |
|
|
|
|
Com. Reg. No.: |
15-025892 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31100OR2016PLC025892 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
06AACCO3929R1ZV |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCO3929R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing assembling and dealing in all types of consumer electrical goods, home appliances, personal appliances, electronic equipment, and instruments. [Registered Activity] |
|
|
|
|
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 : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is
a part of C.K. Birla group and it was incorporated during October 2016. The
Consumer Electric Division of Orient Paper and Industries Limited (OPIL) has
been demerged into Orient Electric Limited (OEL) with effect from 1st March
2017; vide the scheme of Demerger, approved by the National Company Law
Tribunal (NCLT), Kolkata on November 09, 2017. Rating takes into consideration the long experience of the promoters, being part of established C.K. Birla group and continuous improvement in the performance of consumer electricals segment. Rating
also takes into account its dominant position in the Fan business with strong
brand recall for its other consumer electricals products amidst favorable
outlook for the consumer electrical business. However,
ratings strength is partially offset by stiff completion from established
players in the industry and unorganized players in the fan business. Payments
seems to be usually correct. In view
of aforesaid, 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
|
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 |
CARE |
|
Rating |
Long Term Rating= AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
21.02.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating= A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
21.02.2018 |
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 06.04.2018
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 DENIED
Management Non-Cooperative (91-674-2396930)
Mr. Anand Rathi – Not working in the company.
LOCATIONS
|
Registered Office : |
Unit VIII, Plot No. 7, Bhoinagar, Bhubaneswar, Cuttack – 751012,
Orissa, India |
|
Tel. No.: |
91-674-2396930 / 2396364 / 2392947 |
|
Fax No.: |
91-674-2396364 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 11, Industrial Estate, Mathura Road, Sector 6, Faridabad –
121006, Haryana, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Rakesh Khanna |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
C-86, Vishal Towers, Near Anand Nagar
Crossing, Satellite, Ahmedabad – 380015, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.01.2018 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00266132 |
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|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Alka Marezban Bharucha |
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|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
7E, Harbour Heights, N. A. Sawant Marg,
Colaba, Mumbai – 400005, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2018 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00114067 |
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|
Other Directorship:
|
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Chandrakant Birla |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Sundaram 24, Dr. A.P.J. Abdul Kalam Road,
Udyog Bhawan, Central Delhi – 110011, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2018 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00118473 |
||||||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Desh Deepak Khetrapal |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
3/11, Ist Floor, Shanti Niketan, New Delhi
– 110021, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2018 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02362633 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
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|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ranganathan Anandanpillai Tirumalai
Cunnavakaum Anandanpillai |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
236, Munirka Vihar, SFS Flats, Munirka, New
Delhi – 110067, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2018 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03091352 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Pradeep Chandra Kathi |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
8-2-541/A, Road No. 7, Banjara Hills,
Hyderabad – 500034, Telangana, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.01.2018 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05345536 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Hitesh Kumar Jain |
|
Designation : |
Company Secretary |
|
Address : |
1/ 11956 Uldhanpur, M 106 , Naveen
Shahadra, Delhi – 110032, India |
|
Date of Appointment : |
19.12.2017 |
|
PAN No.: |
AGCPJ4054H |
|
|
|
|
Name : |
Mr. Manoj Kumar Dugar |
|
Designation : |
Chief Financial Officer |
|
Address : |
28, Mangalam Apartment, Sector 21D,
Faridabad – 121001, Haryana, India |
|
Date of Appointment : |
23.01.2018 |
|
PAN No.: |
ABBPD9471E |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Orient
Paper and Industries Limited, India |
499994 |
|
Pradeep
Kumar Sonthalia |
1 |
|
Manohar
Lal Pachisia |
1 |
|
Pramod
Chandra Agarwala |
1 |
|
Gautam
Mullick |
1 |
|
Niranjan
Kumar Saha |
1 |
|
Amalendu
Kulla |
1 |
|
|
|
|
Total |
500000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 09.08.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing assembling and dealing in all types of consumer electrical goods, home appliances, personal appliances, electronic equipment, and instruments. [Registered Activity] |
|
|
|
|
Products / Services
: |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
22, Camac Street, 3rd Floor, Block – C, Kolkata – 700016,West Bengal, India |
|
Tel. No.: |
91-33-66153400 |
|
Fax No.: |
91-33-22817750 |
|
PAN No.: |
ACHFS9180N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
·
Orient Paper and Industries Limited, India
[L21011OR1936PLC000117] |
CAPITAL STRUCTURE
AFTER 09.08.2017
Authorised Capital : INR 250.000 Million
Issued, Subscribed & Paid-up Capital : INR 212.186
Million
AS ON 09.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 1/- each |
INR 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 1/- each |
INR 0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.500 |
|
(b) Reserves & Surplus |
|
|
(8.745) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
(8.245) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) Long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
0.000 |
|
(b) Trade
payables |
|
|
0.050 |
|
(c) Other
current liabilities |
|
|
8.694 |
|
(d) Short-term
provisions |
|
|
0.000 |
|
Total Current
Liabilities (4) |
|
|
8.744 |
|
|
|
|
|
|
TOTAL |
|
|
0.499 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
0.000 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d)
Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
0.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
0.000 |
|
(c) Trade
receivables |
|
|
0.000 |
|
(d) Cash
and cash equivalents |
|
|
0.498 |
|
(e) Short-term
loans and advances |
|
|
0.000 |
|
(f) Other
current assets |
|
|
0.001 |
|
Total
Current Assets |
|
|
0.499 |
|
|
|
|
|
|
TOTAL |
|
|
0.499 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
0.000 |
|
|
|
Other Income |
|
|
0.006 |
|
|
|
TOTAL |
|
|
0.006 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Preliminary expenses written off |
|
|
0.061 |
|
|
|
Professional and consultancy expenses |
|
|
8.634 |
|
|
|
Miscellaneous expenses |
|
|
0.006 |
|
|
|
Payment to auditors |
|
|
0.050 |
|
|
|
TOTAL |
|
|
8.751 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
(8.745) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(8.745) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
|
(8.745) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
|
|
(8.745) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
|
|
(17.49) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
31.03.2017 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Cash generated from operations |
|
|
NA |
|
Net cash generated from operations |
|
|
(0.001) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
|
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
|
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
|
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
|
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
|
17.52 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
|
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
|
(1.06) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
|
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
|
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
|
(1752.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
|
106.06 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
|
0.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
|
0.06 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
|
(16.52) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
|
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
|
0.06 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
LEGAL CASE
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
Yes |
|
26 |
Turnover of firm for last about five
months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about five months |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO CHARGES
EXISTS FOR COMPANY
BACKGROUND:
The company is a subsidiary Orient Paper and industries Limited. The company has been incorporated on 10th October 2016. The company has not stated any business activity. However, a scheme of arrangement has been approved by the Board of Directors of the company subject to obtaining necessary approval as stated.
The company’s board of directors at its meeting held on October 17, 2016 has approved a scheme of arrangement between the company and Orient Paper and Industries Limited (OPIL) in terms of the provisions of Section 391 to 394 and other applicable provisions of the companies act. 1956 and companies act 2013 to the extent applicable, for transfer of consumer electric business OPIL to the company on a going concern basis with effect from 1st March 2017, subject to necessary approvals.
OPERATIONS AND
FINANCIAL RESULTS:
The company was incorporated on 10th October 2016 as a subsidiary of Orient Paper and industries Limited (OPIL) for the purpose of transfer of OPIL’s Consumer Electric Business w.e.f. 1st March, 2017 as per the scheme of arrangement between the company and OPIL.
The company has not yet started any business activities.
OPIL, the company has incurred certain professional and consultancy expenses and other miscellaneous expenses towards the incorporation of the company and in terms of the scheme of arrangement, the said expenses are reimbursable to the holding company.
During the period, the company has earned total INR 0.006 million from interest on bank deposits. Total expenses incurred were INR 8.751 million. Loss for the period was INR 8.745 million and since this being the first financial year of the company, the previous year figures have not been given.
No dividend has been recommended and no amount has been transferred to any reserve during the financial year 2016-17 since incorporation.
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 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 65.06 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.