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MIRA INFORM REPORT
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Report No. : |
504876 |
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Report Date : |
21.04.2018 |
IDENTIFICATION DETAILS
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Name : |
REGENT PLAST PRIVATE LIMITED (w.e.f. 16.12.2002) |
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Formerly Known
As : |
REGENT PLAST LIMITED |
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Registered Office
: |
603, Raheja Centre 214, Free Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra |
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Tel. No.: |
91-22-22881818 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
21.06.1985 |
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Com. Reg. No.: |
11-036642 |
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Capital
Investment / Paid-up Capital : |
INR 10.938 Million |
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CIN No.: [Company Identification
No.] |
U25202MH1985PTC036642 |
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IEC No.: [Import-Export Code No.] |
Not Applicable [As informed by the management that firm does
not have export and import] |
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TIN No.: |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCR3050K1ZF |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCR3050K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Articles for Packing of Goods (Plastic Bags, Sacks, Containers, Boxes, Cases, Carboys, Bottles etc.) [Registered Activity] |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1985 having satisfactory track record. For the year ended 2017, revenue of the company has marginally declined. However, its has reported growth in its profit and has achieved profit margin at 2.61% (Approx.). The company possesses sound financial risk profile marked by decent net worth base along with debt free balance sheet and favourable gap between trade payables to its trade receivables. The company also derives strength from its long standing track record of business operation. Trade relations 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial Reconstruction)
list as of 21.04.2018.
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.: 91-22-22881818]
LOCATIONS
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Registered Office : |
603, Raheja Centre 214, Free Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Tel. No.: |
91-22-22881818/ 33916455 |
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Fax No.: |
91-22-22854466 |
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E-Mail : |
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Website : |
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Factory: |
1804, GIDC, Umbergaon, Valsad - 396171, Gujarat, India |
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Tel. No.: |
91-260-2562462/ 3209966 |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Kashi Sitaram Deora |
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Designation : |
Director |
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Address : |
20, Anand Niwas A Road, Churchgate, Mumbai-400020, Maharashtra, India |
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Date of Birth/Age : |
25.11.1946 |
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Date of Appointment : |
09.02.1988 |
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DIN No.: |
00229458 |
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Name : |
Mr. Kartik Kashi Deora |
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Designation : |
Director |
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Address : |
20, Anand Niwas A Road, Churchgate, Mumbai-400020, Maharashtra, India |
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Date of Birth/Age : |
24.12.1977 |
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Date of Appointment : |
29.05.2005 |
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DIN No.: |
00229541 |
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Name : |
Mr. Sunil Satyanarayan Jhunjhunwala |
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Designation : |
Director |
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Address : |
B 503, Prachi Co Op Hsg So Judges Apartment Behind HDFC
Bank, Varsova Link Road, Andheri (West), Mumbai-400053, Maharashtra, India |
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Date of Appointment : |
20.06.1989 |
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DIN No.: |
00312529 |
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Name : |
Mr. Mahabiraprasad Sitaramji Deora |
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Designation : |
Director |
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Address : |
17, Fairfield Siphai Malani Marg, Near K. C. College, Churchgate, Mumbai-400020, Maharashtra, India |
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Date of Birth/Age : |
22.03.1934 |
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Date of Appointment : |
10.10.1989 |
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DIN No.: |
01073326 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
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Names of Shareholders |
No. of Shares |
% age holding |
|
Kashi Sitaram |
47430 |
4.34 |
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Kiran Kashi Deora |
94635 |
8.65 |
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Kartik Kashi Deora |
726750 |
66.44 |
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Aryaharsh Enterprises represented by Kartik Deora |
225000 |
20.57 |
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Total |
1093815 |
100.00 |
AS ON: 29.09.2017
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters (Individual/Hindu Undivided Family - Indian) |
79.43 |
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Promoters (Others-Association of persons-Aryahars) |
20.57 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Plastic Articles for Packing of Goods (Plastic Bags, Sacks, Containers, Boxes, Cases, Carboys, Bottles etc.) [Registered Activity] |
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Products : |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 declined by the management |
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Bankers : |
· Bank of Baroda SIR. P. M. Road, Laxmi Building, Fort, Mumbai - 400001, Maharashtra, India · HDFC Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
M. L. Bhuwania and Company Chartered Accountants |
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Address : |
F-11, 3rd Floor, Manek Mahal, 90, Veer Nariman Road, Churchgate,
Mumbai- 400020, Maharashtra, India |
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Tel. No.: |
91-22-61174949 |
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Fax No.: |
91-22-61174950 |
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Email: |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFM1380R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Parties Where Key Management Personnel/ Their Relatives Have Control/
Significant Influence : |
· Mustang Mouldings private Limited ·
Paramount Industries ·
Regent Plast Employee Gratuity Fund |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
1250000 |
Equity Shares |
INR 10/- each |
INR 12.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
1093815 |
Equity Shares |
INR 10/- each |
INR 10.938
Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
10.938 |
10.938 |
10.938 |
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(b) Reserves & Surplus |
96.731 |
88.993 |
84.742 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
107.669 |
99.931 |
95.680 |
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(3)
Non-Current Liabilities |
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(a) Long-term borrowings |
0.000 |
0.463 |
0.982 |
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(b) Deferred tax liabilities (Net) |
1.412 |
1.910 |
2.426 |
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(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
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(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
1.412 |
2.373 |
3.408 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
0.000 |
4.744 |
5.420 |
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(b)
Trade payables |
13.368 |
14.390 |
12.631 |
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(c)
Other current liabilities |
2.962 |
2.420 |
2.021 |
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(d)
Short-term provisions |
1.037 |
0.370 |
0.516 |
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Total
Current Liabilities (4) |
17.367 |
21.924 |
20.588 |
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TOTAL |
126.448 |
124.228 |
119.676 |
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II.
ASSETS |
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(1) Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
26.327 |
23.826 |
25.717 |
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(ii)
Intangible Assets |
0.079 |
0.168 |
0.181 |
|
(iii)
Capital work-in-progress |
1.395 |
1.395 |
3.055 |
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(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
7.035 |
1.159 |
1.069 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
3.194 |
2.734 |
6.272 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
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Total
Non-Current Assets |
38.030 |
29.282 |
36.294 |
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(2) Current assets |
|
|
|
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
14.160 |
18.632 |
23.918 |
|
(c)
Trade receivables |
43.066 |
39.613 |
33.419 |
|
(d)
Cash and cash equivalents |
27.029 |
33.054 |
19.460 |
|
(e)
Short-term loans and advances |
2.664 |
2.533 |
4.517 |
|
(f)
Other current assets |
1.499 |
1.114 |
2.068 |
|
Total
Current Assets |
88.418 |
94.946 |
83.382 |
|
|
|
|
|
|
TOTAL |
126.448 |
124.228 |
119.676 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
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|
|
|
|
|
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Revenue from Operations |
296.241 |
301.278 |
290.251 |
|
|
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Other Income |
3.302 |
3.705 |
2.378 |
|
|
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TOTAL |
299.543 |
304.983 |
292.629 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
209.601 |
219.904 |
204.751 |
|
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|
Purchases of Stock-in-Trade |
0.860 |
0.000 |
2.228 |
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|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(0.378) |
(0.995) |
2.443 |
|
|
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Employees benefits expense |
13.545 |
13.613 |
11.693 |
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Other expenses |
58.805 |
60.010 |
54.543 |
|
|
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TOTAL |
282.433 |
292.532 |
275.658 |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
17.110 |
12.451 |
16.971 |
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Less |
FINANCIAL
EXPENSES |
0.157 |
0.366 |
0.689 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.953 |
12.085 |
16.282 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
5.779 |
5.553 |
5.273 |
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|
PROFIT BEFORE
TAX |
11.174 |
6.532 |
11.009 |
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|
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Less |
TAX |
3.436 |
2.281 |
3.878 |
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PROFIT AFTER TAX
|
7.738 |
4.251 |
7.131 |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
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Export Earnings |
8.645 |
1.111 |
2.232 |
|
|
|
Freight charges |
0.003 |
0.000 |
0.021 |
|
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|
Mould making charges reimbursed |
0.452 |
0.000 |
0.000 |
|
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TOTAL EXPORTS |
9.100 |
1.111 |
2.253 |
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IMPORTS |
|
|
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|
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Raw Materials |
2.429 |
20.332 |
18.232 |
|
|
|
Purchase - trading |
0.341 |
0.000 |
2.228 |
|
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|
Capital Goods |
4.226 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
6.996 |
20.332 |
20.460 |
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|
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Earnings Per
Share (INR) |
7.07 |
3.89 |
6.52 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.266 |
0.514 |
0.449 |
|
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|
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Cash generated from operations |
12.536 |
(0.017) |
19.937 |
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|
|
Net Cash from Operating Activities |
9.859 |
(1.003) |
16.348 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
53.06 |
47.99 |
42.03 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.88 |
7.61 |
8.69 |
|
|
|
|
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|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
23.18 |
23.88 |
22.27 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.21 |
0.67 |
0.71 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.62 |
0.49 |
0.59 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.14 |
0.18 |
0.18 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.06 |
0.07 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.16 |
0.22 |
0.22 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.26 |
0.25 |
0.30 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
108.98 |
34.02 |
24.63 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.61 |
1.41 |
2.46 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.12 |
3.42 |
5.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
7.19 |
4.25 |
7.45 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
5.09 |
4.33 |
4.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
4.28 |
3.48 |
2.89 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.85 |
0.80 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.02 |
0.52 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
5.09 |
4.33 |
4.05 |
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 |
10.938 |
10.938 |
10.938 |
|
Reserves & Surplus |
84.742 |
88.993 |
96.731 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
95.680 |
99.931 |
107.669 |
|
|
|
|
|
|
long-term borrowings |
0.982 |
0.463 |
0.000 |
|
Short term borrowings |
5.420 |
4.744 |
0.000 |
|
Current Maturities of Long
term debt |
0.449 |
0.514 |
0.266 |
|
Total
borrowings |
6.851 |
5.721 |
0.266 |
|
Debt/Equity
ratio |
0.072 |
0.057 |
0.002 |
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 |
290.251 |
301.278 |
296.241 |
|
|
|
3.799 |
-1.672 |
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 |
290.251 |
301.278 |
296.241 |
|
Profit |
7.131 |
4.251 |
7.738 |
|
|
2.46% |
1.41% |
2.61% |
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 |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G67794800 |
100136439 |
KOTAK MAHINDRA
PRIME LIMITED |
19/08/2017 |
- |
- |
1124000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
2 |
C35970631 |
10531209 |
HDFC BANK LIMITED |
11/10/2014 |
29/11/2014 |
- |
31500000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
B39374301 |
10206127 |
BANK OF BARODA |
17/02/2010 |
21/03/2011 |
23/04/2012 |
18579000.0 |
SIR. P. M. ROAD,
LAXMI BUILDING,FORTMUMBAIMH400001IN |
|
4 |
B39373394 |
10206129 |
BANK OF BARODA |
17/02/2010 |
21/03/2011 |
23/04/2012 |
18579000.0 |
SIR. P. M. ROAD,
LAXMI BUILDING,FORT,MUMBAIMH400001IN |
|
5 |
Y10314130 |
90212231 |
GUJARAT INDUSTRIAL
INVESTMNET CORPORATION LIMITED |
18/12/1991 |
- |
18/06/2002 |
2000000.0 |
CHUNIBHAI
CHAMBERS; ASHRAM ROADAHMEDABADGJ380009IN |
|
6 |
Y10313702 |
90211803 |
GUJARAT INDUSTRIAL
INVESTMNET CORPORATION LIMITED |
19/07/1988 |
- |
11/10/2001 |
5300000.0 |
CHUNIBHAI
CHAMBERS; ASHRAM ROADAHMEDABADGJ380009IN |
|
7 |
Y10313847 |
90211948 |
BANK OF BARODA |
26/06/1989 |
21/07/1989 |
29/08/1998 |
1200000.0 |
SIR P.M. ROAD
BRANCH; LAXMI INSURANCE BUILINDGGROUND FLOOR; SIR P.M. ROADBOMBAYMH400001IN |
|
8 |
Y10313843 |
90211944 |
BANK OF BARODA |
20/06/1989 |
21/07/1989 |
29/08/1995 |
500000.0 |
SIR P.M. ROAD
BRANCH; LAXMI INSURANCE BUILINDGGROUND FLOOR; SIR P.M. ROADBOMBAYMH400001IN |
CHANGE OF ADDRESS:
Registered address of the company has been shifted from 807, Raheja
Centre, 214 Free Press Journal Marg, Nariman Point, Mumbai - 400021,
Maharashtra, india to the present address w.e.f. 24.01.2012
STATE OF COMPANY'S AFFAIRS:
During the year, the Company revenue from operation stood at INR 296.241 million as against INR 301.278 in the previous year. The Company has earned a net profit (after tax) of INR 7.738 million as compared to INR 4.251 million during the previous year. Because of tough competition in the market there is no scope to increase the sales price although there is overall increase in the cost because of general inflation in the economy, which had adversely effected the profitability. Because of substantial increase in the export sales, the profitability has increased in the year under review compared to previous year. During the current financial year also the directors are not much hopeful of improving the present situation.
FIXED ASSETS:
Tangible Assets
- Land
- Factory building
- Road
- Staff Quarters
- Plant and Machinery
- Mould and Dies
- Factory Equipment’s
- Electrical Installation
- Generator
- Furniture and Fixture
- Vehicles
- Office Equipment
- Computer
- Air conditioner
- Leasehold Premises Improvement
Intangible Assets
- Software
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 66.02 |
|
UK Pound |
1 |
INR 92.73 |
|
Euro |
1 |
INR 81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
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.