|
|
|
MIRA INFORM REPORT
|
Report No. : |
503405 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
DAJIKAKA GADGIL DEVELOPERS PRIVATE LIMITED (w.e.f. 20.08.2009) |
|
|
|
|
Formerly Known
As : |
SVG
INFRASTRUCTURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101, Express Tower, 594 Sadashiv Peth, Laxmi Road, Pune-411030,
Maharashtra |
|
Tel. No.: |
91-20-25665154/ 55/ 56 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
29.08.2008 |
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|
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|
Com. Reg. No.: |
11-132730 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 9.999 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45209PN2008PTC132730 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAMCS7438R1Z9 |
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|
|
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TIN No: |
27955221663 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS7438R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
The Company is in the business of
Construction and Development.
(Registered Activity) |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 120000 INR 8640000 |
|
|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of Gadgil Holdings Private Limited. It was incorporated in the year 2008 and is engaged in construction activity. As per financials of March 2017, the company has registered sharp decline in its revenue and has reported huge losses. Rating takes into consideration the company’s continuous losses from its operations along with deteriorating financial risk profile and below average liquidity position.
Rating is further constrained on account of company’s presence in highly competitive and huge working capital requirement construction industry. However, rating weakness is partial offset by sound net worth base of the company. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution. |
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
31-03-2018.
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 13.04.2017
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) / DENIED BY
|
Name : |
Mr. Vikrant Kokate |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-8308848798 |
|
Date : |
11.04.2018 |
Management non-cooperative (Tel No.: 91-20-25445153)
LOCATIONS
|
Registered Office : |
101, Express Tower, 594 Sadashiv Peth, Laxmi Road, Pune-411030,
Maharashtra, India |
|
Tel. No.: |
91-20-25665154/ 55/ 56 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Corporate Office: |
“Bharat Eletta”, Sr. No. 37, Plot No. 1, Row House No. 3, Near Indira Height, Erandwane, Pune-411038, Maharashtra, India |
|
Tel. No.: |
91-20 – 25445153 |
|
Fax No.: |
91-20 – 25445154 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Amol Dilip Tavildar |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
Flat No-302, B-2, Shivsagar City, Phase-1, Suncity Road, Anand Nagar, Sinh Gad Road, Pune-411041 , Maharashtra, India |
||||||||
|
Date of Birth/Age : |
15.02.1977 |
||||||||
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Date of Appointment : |
01.06.2013 |
||||||||
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DIN No: |
06435453 |
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|
|
||||||||
|
Name : |
Mr. Sunil Jain |
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Designation : |
Director |
||||||||
|
Address : |
Flat-16, Lysha Enclave, Salunke Vihar Road, Opposite Kotak Mahindara Bank, Kondhwa, Pune – 411048, Maharashtra, India |
||||||||
|
Date of Appointment : |
05.07.2016 |
||||||||
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DIN No: |
07143956 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Gadgil Holdings Private Limited, India |
|
994992 |
|
Vaishali Vidyadhar Gadgil |
|
1 |
|
Radhika Saurabh Gadgil |
|
1 |
|
Vidyadhar Anant Gadgil |
|
1 |
|
Saurabh Vidyadhar Gadgil |
|
5004 |
|
Total |
|
999999 |
Equity Share Break up (Percentage of Total Equity)
As on” 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
0.50 |
|
Promoters (Body corporate) |
99.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
The Company is in the business of
Construction and Development.
(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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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Manas M. Bapat Chartered Accountant |
|
Address : |
1024/12 B, Mitranagar, Model Colony, Pune – 411016, Maharashtra, India |
|
Mobile No.: |
91-9890026206 |
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E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AJSPB6675P |
|
Memberships No: |
121396 |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company: |
Gadgil Holdings Private Limited (U74999PN2008PTC131819) |
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Other Related Parties: |
|
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
999999 |
Equity Shares |
INR 10/- each |
INR 9.999 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
9.999 |
9.999 |
9.999 |
|
(b) Reserves & Surplus |
33.209 |
60.320 |
60.715 |
|
(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) |
43.208 |
70.319 |
70.714 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
26.856 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
26.856 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
619.072 |
588.591 |
672.850 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
116.407 |
81.443 |
25.404 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
735.479 |
670.034 |
698.254 |
|
|
|
|
|
|
TOTAL |
805.543 |
740.353 |
768.968 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4.196 |
3.071 |
4.255 |
|
(ii) Intangible
Assets |
0.032 |
0.032 |
0.032 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1.059 |
1.051 |
0.929 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
110.676 |
97.784 |
611.998 |
|
Total Non-Current
Assets |
115.963 |
101.938 |
617.214 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
578.317 |
518.647 |
26.569 |
|
(c) Trade
receivables |
21.802 |
28.348 |
26.595 |
|
(d) Cash
and cash equivalents |
0.731 |
0.847 |
6.419 |
|
(e)
Short-term loans and advances |
88.730 |
90.573 |
92.171 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
689.580 |
638.415 |
151.754 |
|
|
|
|
|
|
TOTAL |
805.543 |
740.353 |
768.968 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
4.851 |
19.005 |
15.400 |
|
|
Increase/Decrease in
Inventories |
59.670 |
492.077 |
4.744 |
|
|
Other Income |
3.922 |
0.001 |
21.222 |
|
|
TOTAL |
68.443 |
511.083 |
41.366 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Land and Development
Expenses |
18.713 |
421.526 |
6.081 |
|
|
Employees benefits
expense |
21.045 |
18.634 |
6.435 |
|
|
Prior Period |
0.000 |
0.000 |
0.002 |
|
|
Other expenses |
48.785 |
68.065 |
12.966 |
|
|
TOTAL |
88.543 |
508.225 |
25.484 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(20.100) |
2.858 |
15.882 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
4.169 |
1.306 |
11.950 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(24.269) |
1.552 |
3.932 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1.776 |
1.451 |
2.461 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(26.045) |
0.101 |
1.471 |
|
|
|
|
|
|
|
Less |
TAX |
1.257 |
0.496 |
2.317 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(27.302) |
(0.395) |
(0.846) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(27.30) |
(0.40) |
(0.85) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(22.805) |
(4.687) |
(42.229) |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
(24.070) |
(5.305) |
(43.176) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
1640.43 |
544.44 |
630.34 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.22 |
0.67 |
0.58 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.03) |
0.01 |
0.60 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(4.75) |
0.92 |
3.70 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.95 |
0.91 |
0.91 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
14.95 |
8.37 |
9.52 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
17.02 |
9.53 |
9.87 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.10 |
0.04 |
0.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
-4.82 |
2.19 |
1.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(562.81) |
(2.08) |
(5.49) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(3.39) |
(0.05) |
(0.11) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(63.19) |
(0.56) |
(1.20) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.94 |
0.95 |
0.22 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.15 |
0.18 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.05 |
0.09 |
0.09 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
64.60 |
58.86 |
67.29 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.94 |
0.95 |
0.22 |
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 |
|
Share Capital |
9.999 |
9.999 |
9.999 |
|
Reserves & Surplus |
60.715 |
60.320 |
33.209 |
|
Net
worth |
70.714 |
70.319 |
43.208 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
26.856 |
|
Short term borrowings |
672.850 |
588.591 |
619.072 |
|
Total
borrowings |
672.850 |
588.591 |
645.928 |
|
Debt/Equity
ratio |
9.515 |
8.370 |
14.949 |
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 |
15.400 |
19.005 |
4.851 |
|
|
|
23.410 |
(74.475) |
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 |
15.400 |
19.005 |
4.851 |
|
Profit /(Loss) |
(0.846) |
(0.395) |
(27.302) |
|
|
(5.49%) |
(2.08%) |
(562.81%) |
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 |
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 |
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 two/ 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 |
No |
|
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) |
|
Short-term
borrowings |
|
|
|
Others (form related parties) |
619.172 |
588.591 |
|
Total |
619.172 |
588.591 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G16975278 |
100055954 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
29/09/2016 |
- |
- |
100000000.0 |
RAMON HOUSE,H.T.PAREKH MARG,169,BACKBAY RECLAMATIOBACKBAY RECLAMATION, CHURCHGATEMUMBAIMH411005IN |
|
2 |
G17212333 |
100052255 |
IFCI LIMITED |
30/08/2016 |
26/09/2016 |
- |
450000000.0 |
IFCI Tower, 61 Nehru PlaceNew DelhiDL110019IN |
|
3 |
G07455934 |
100038389 |
HDFC BANK LIMITED |
24/06/2016 |
- |
- |
2057500.0 |
HDFC BANK LIMITED, HDFC Bank House,Senapati Bapat Marg, Lower Parel WestMumbaiMH400013IN |
|
4 |
C37801818 |
10538182 |
BANK OF BARODA (Karve nagar Branch) |
07/11/2014 |
- |
- |
40000000.0 |
CITY S NO 1081, S NO 18A/1A/1/1/1, KACHARE CLASSICAPARTMENT, ERANDWANEPUNEMH411038IN |
|
5 |
B98778038 |
10386561 |
Indian Overseas Bank |
26/09/2012 |
27/09/2012 |
26/02/2014 |
62300000.0 |
23 Mahalaxmi Chambers,Budhwar Peth, Bajirao Road, Appa Balwant ChowkPuneMH411002IN |
|
6 |
B72653918 |
10251405 |
PUNJAB NATIONAL BANK |
06/10/2010 |
31/12/2010 |
23/03/2013 |
200000000.0 |
MID CORPORATE BANKKALYANINAGARPUNEMH411006IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Claim against the Company not acknowledge |
9.424 |
1.609 |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- 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 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
|
INR |
|
US Dollar |
1 |
INR 65.35 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
|
|
--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.