|
|
|
MIRA INFORM REPORT
|
Report No. : |
503959 |
|
Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
PROMINENT FORGINGS PRIVATE LIMITED (w.e.f. 18.10.2000) |
|
|
|
|
Formerly Known
As : |
PUNJRATH FINANCE AND DEPOSITS PRIVATE LIMITED |
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Registered
Office : |
SCO No.22, Ist Floor, G S Complex, Partap Nagar, Basant Road, Ludhiana - 141003, Punjab |
|
Tel. No.: |
91-161-2512696 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
09.03.1995 |
|
|
|
|
Com. Reg. No.: |
16-016004 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 9.792 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910PB1995PTC016004 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR0756C |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
The Company is engaged in the business of manufacturing and Exporter of Cycle Parts, Gardening Tools and Accessories and Art ware of iron. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 124000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company incorporated in the year 1995 having
satisfactory track record. For the financial year ended 2017, revenue of the company has slightly
declined and has reported fair profit margin at 1.53% (Approximately) The company possesses sound financial risk profile marked by healthy
networth base along with comfortable debt level and favourable gap between
trade payable to its trade receivables. The company also derives strength from its long standing track record
of business operation. Trade relation are reported as fair. Business is active. Payment terms
are seems to be usually correct and as per commitments. 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 |
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 18.04.2018
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 BY
|
Name : |
Mr. Rashpal |
|
Designation : |
Accountant |
|
Contact No.: |
91-161-2512696 |
|
Date : |
17.04.2018 |
(Mobile No.:
91-9356888696 – number switched off)
LOCATIONS
|
Registered Office : |
SCO No.22, Ist Floor, G S Complex, Partap Nagar, Basant Road, Ludhiana - 141003, Punjab, India |
|
Tel. No.: |
91-161-2512696 |
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Fax No.: |
91-161-2512345 |
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E-Mail : |
|
|
|
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Factory : |
V.P.O. Jospal Bangar Kanganwal Road, Ludhiana – 141122, Punjab,
India |
|
Tel. No.: |
91-161-2512696/ 2512796 |
|
Fax No.: |
91-161-2512345/ 346 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Gurcharan Singh |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
H. No 290, Model Gram, Ludhiana – 141002, Punjab, India |
||||||||
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Date of Birth/Age : |
15.02.1950 |
||||||||
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Date of Appointment : |
01.04.2008 |
||||||||
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DIN No.: |
00775205 |
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Other
Directorship:
|
|||||||||
|
|
|
||||||||
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Name : |
Mr. Bikramjit Singh |
||||||||
|
Designation : |
Whole Time Director |
||||||||
|
Address : |
H. No 290, Model Gram, Ludhiana – 141002, Punjab, India |
||||||||
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Date of Birth/Age : |
26.09.1976 |
||||||||
|
Date of Appointment : |
01.04.2008 |
||||||||
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DIN No.: |
00775092 |
||||||||
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Other
Directorship:
|
|||||||||
|
|
|
||||||||
|
Name : |
Mr. Sandeep Singh |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
3525–MIG, Flats Phase-II, Dugri, Ludhiana - 141001, Punjab, India |
||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||
|
DIN No.: |
06932826 |
||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rashpal |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Bikramjit Singh |
|
540000 |
|
Gurcharan Singh |
|
700 |
|
Harvinder Kaur |
|
500 |
|
Gurpreet Kaur |
|
6000 |
|
White Swan Industries Private Limited, India |
|
432000 |
|
Total |
|
979200 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
55.88 |
|
Promoters (Body corporate) |
44.12 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacturing and Exporter of Cycle Parts, Gardening Tools and Accessories and Art ware of iron. (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 : |
Not Divulged |
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Bankers : |
·
Axis Bank Limited ·
Punjab National Bank ·
State Bank of India ·
Central Bank of India |
|||||||||||||||||||||||||||
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|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Vinay and Associates Chartered Accountants |
|
Address : |
18-G, Shaheed Bhagat Singh Nagar, Pakhowal Road, Ludhiana – 141001, Punjab,
India |
|
Tel. No.: |
91-161-4605918 |
|
Mobile No.: |
91-9814023203 |
|
Fax No.: |
91-161-2561533 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AACFV0520C |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
979200 |
Equity Shares |
INR 10/- each |
INR 9.792 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 |
9.792 |
9.792 |
9.792 |
|
(b) Reserves & Surplus |
33.643 |
31.112 |
20.937 |
|
(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) |
43.435 |
40.904 |
30.729 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.933 |
4.161 |
2.393 |
|
(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) |
2.933 |
4.161 |
2.393 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
40.533 |
24.401 |
18.161 |
|
(b) Trade payables |
22.744 |
23.173 |
9.844 |
|
(c) Other current liabilities |
5.557 |
16.093 |
5.820 |
|
(d) Short-term provisions |
1.360 |
1.182 |
1.863 |
|
Total
Current Liabilities (4) |
70.194 |
64.849 |
35.688 |
|
|
|
|
|
|
TOTAL |
116.562 |
109.914 |
68.810 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
26.654 |
20.584 |
8.749 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
4.297 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.470 |
0.515 |
0.498 |
|
(e) Other Non-current assets |
0.008 |
0.008 |
0.000 |
|
Total
Non-Current Assets |
27.132 |
25.404 |
9.247 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11.507 |
20.357 |
19.098 |
|
(c) Trade receivables |
24.607 |
24.872 |
9.772 |
|
(d) Cash and cash equivalents |
36.225 |
21.286 |
15.672 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
17.091 |
17.995 |
15.021 |
|
Total
Current Assets |
89.430 |
84.510 |
59.563 |
|
|
|
|
|
|
TOTAL |
116.562 |
109.914 |
68.810 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
164.766 |
182.161 |
149.968 |
|
|
Other Income |
22.717 |
22.632 |
21.551 |
|
|
TOTAL
|
187.483 |
204.793 |
171.519 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Materials Consumed |
106.594 |
132.085 |
103.773 |
|
|
Decrease / (Increase) in Stock |
6.358 |
(0.227) |
5.096 |
|
|
Employees benefits expense |
14.507 |
15.032 |
8.603 |
|
|
Other expenses |
51.670 |
50.159 |
47.472 |
|
|
Extraordinary items |
0.001 |
0.000 |
0.000 |
|
|
TOTAL |
179.130 |
197.049 |
164.944 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
8.353 |
7.744 |
6.575 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.722 |
2.016 |
2.196 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.631 |
5.728 |
4.379 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2.740 |
2.280 |
1.469 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3.891 |
3.448 |
2.910 |
|
|
|
|
|
|
|
Less |
TAX |
1.360 |
1.182 |
0.993 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.531 |
2.266 |
1.917 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
151.412 |
171.699 |
141.065 |
|
|
TOTAL
EARNINGS |
151.412 |
171.699 |
141.065 |
|
|
|
|
|
|
|
|
CIF
Value of IMPORTS |
16.682 |
5.217 |
10.827 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
2.58 |
2.31 |
1.96 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.228 |
1.120 |
0.000 |
|
Cash generated from operations |
21.530 |
15.782 |
2.034 |
|
Net cash flows from (used in) operating activity |
20.170 |
13.919 |
1.329 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
54.51 |
49.84 |
23.78 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.70 |
7.32 |
15.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
77.88 |
64.04 |
34.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.73 |
0.38 |
0.34 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.31 |
0.31 |
0.71 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.64 |
0.64 |
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.03 |
0.73 |
0.67 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.62 |
1.59 |
1.16 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.61 |
0.61 |
0.30 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.85 |
3.84 |
2.99 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.54 |
1.24 |
1.28 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.17 |
2.06 |
2.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
5.83 |
5.54 |
6.24 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.27 |
1.30 |
1.67 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.11 |
0.99 |
1.13 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.37 |
0.37 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.56 |
3.03 |
2.10 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.27 |
1.30 |
1.67 |
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 |
9.792 |
9.792 |
9.792 |
|
Reserves & Surplus |
20.937 |
31.112 |
33.643 |
|
Net
worth |
30.729 |
40.904 |
43.435 |
|
|
|
|
|
|
long-term borrowings |
2.393 |
4.161 |
2.933 |
|
Short term borrowings |
18.161 |
24.401 |
40.533 |
|
Current maturities of
long-term debts |
0.000 |
1.120 |
1.228 |
|
Total
borrowings |
20.554 |
29.682 |
44.694 |
|
Debt/Equity
ratio |
0.669 |
0.726 |
1.029 |
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 |
149.968 |
182.161 |
164.766 |
|
|
|
21.467 |
-9.549 |
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 |
149.968 |
182.161 |
164.766 |
|
Profit |
1.917 |
2.266 |
2.531 |
|
|
1.28% |
1.24% |
1.54% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
No |
|
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 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 |
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 |
CORPORATE
INFORMATION
The company is a Private Limited company incorporated in India under the provisions of the Companies Act, 1956. The Company is engaged in the business of manufacturing and Exporter of Cycle Parts, Gardening Tools and Accessories and Art ware of iron
BRIEF DESCRIPTION OF
THE COMPANY'S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIR
The sales during the period have been INR 164.766 Million as against INR 182.161 Million in the previous year. The profit before depreciation and taxation has been INR 6.630 Million against INR 5.728 Million in the previous year. For FY2017, the Company's profit after tax stood at INR 2.530 Million vis-a-vis INR 2.266 Million in the previous year.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
2.392 |
2.392 |
|
Total |
2.392 |
2.392 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
3 |
C35317049 |
90175171 |
CENTRAL BANK OF INDIA |
03/01/2001 |
30/10/2004 |
13/11/2014 |
3000000.0 |
MILLER GANJ BRANCH LUDHIANA PUNJAB INDIA |
|
4 |
C35318609 |
90311524 |
CENTRAL BANK OF INDIA |
03/01/2001 |
- |
13/11/2014 |
3000000.0 |
MILLER GANJ BRANCH LUDHIANA PUNJAB INDIA |
|
5 |
C35307636 |
90173894 |
CENTRAL BANK OF INDIA |
03/01/2001 |
25/08/2007 |
13/11/2014 |
14500000.0 |
IBD MILLER GANJ LUDHIANA PUNJAB 141003 INDIA |
|
6 |
C34161794 |
10421211 |
AXIS BANK |
26/02/2013 |
- |
11/11/2014 |
40000000.0 |
SME CENTRE, 5-A, IIND FLOOR, SURYA TOWER, MALL ROAD, LUDIANA PUNJAB 141001 INDIA |
|
1 |
C78081270 |
10618155 |
Axis Bank Limited |
27/11/2015 |
- |
- |
50000000.0 |
SME CENTRE, 5-A, IIND FLOOR, SURYA TOWER, MALL ROAD, LUDIANA PUNJAB 141001 INDIA |
|
2 |
G30493977 |
10184157 |
HDFC BANK LIMITED |
30/09/2009 |
19/06/2015 |
08/12/2016 |
76871000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG LOWER PAREL W MUMBAI MAHARASHTRA 400013 INDIA |
FIXED ASSETS
·
Land
·
Building
·
Air Conditioner
·
Plant and Machinery
·
Furniture and Fixture
·
Fax Machine
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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 65.45 |
|
UK Pound |
1 |
INR 93.28 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
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.
·