MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

506608

Report Date :

30.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

NEMINATH HOMES PRIVATE LIMITED (w.e.f. 20.01.2012)

 

 

Formerly Known As :

ORBIT HEIGHT PRIVATE LIMITED

 

 

Registered Office :

115, Development Bank Building, 4th Floor, Ramabai Ambedkar Marg, Crawford Market, Fort, Mumbai - 400001, Maharashtra

Mobile No.:

91-22-22612201

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

16.04.2009

 

 

Com. Reg. No.:

11-191747

 

 

Capital Investment / Paid-up Capital :

INR 8.225 Million

 

 

CIN No.:

[Company Identification No.]

U45203MH2009PTC191747

 

 

IEC No.:

[Import-Export Code No.]

Not Applicable (As informed by the management that firm does not have export and import)

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AABCO2184R1ZV

 

 

TIN No:

27740958774

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCO2184R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Construction Activity.  (Registered Activity)

 

 

No. of Employees :

10 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2009 and it is engaged in real estate development business.

 

For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year and has shown improved profitability margin during the year.

 

However, the company possesses weak financial position which is reflected by its eroded net worth base due to heavy losses incurred in previous year.

 

Rating takes into account, the slowdown in the infrastructure and real estate sector which affect the growth of the company.

 

These rating weakness gets partially offset by its improvement in its operations along with long standing experience of its promoters in real estate sector.

 

 Payment seems to be slow.

 

In view of aforesaid, the company can be considered for business dealings at fully safe and secured 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 30.04.2018

 

 

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 PARTED BY 

 

Name :

Mr. Ravi Chalke

Designation :

Site Supervisor

Contact No.:

91-9323915929

Date :

28.04.2018

 

 

 

LOCATIONS

 

Registered Office :

115, Development Bank Building, 4th Floor, Ramabai Ambedkar Marg, Crawford Market, Fort, Mumbai - 400001, Maharashtra, India

Tel. No.:

91-22-22612201

Mobile No.:

91-9323915929 (Mr. Ravi Chalke)

Fax No.:

Not Available

E-Mail :

cacisa@gmail.com

contact@neminathgroup.com

neminathhomes@rediffmail.com

Website :

http://www.neminathgroup.com

Location :

Owned

Locality :

Commercial

 

 

Corporate Office :

Chaitanya, 7th Floor, S.V. Road, Opposite Ram Mandir Signal, Goregaon (West), Mumbai-401104, Maharashtra, India

 

 

Sales Office:

Plot No. 71/72, Four Bunglows, S.V.P. Nagar, MHADA, Andheri (West), Mumbai – 400053, Maharashtra, India

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Tapan Mahendra Jhaveri

Designation :

Director

Address :

115, Development Bank Building, 4th Floor, Ramabai Ambedkar Marg, Crawford Market, Fort, Mumbai - 400001, Maharashtra, India

Date of Birth/Age :

24.07.1973

Date of Appointment :

16.04.2009

DIN No:

00948968

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U70100MH1995PTC088778

JHAVERI PREMISES PRIVATE LIMITED

25/05/1995

-

U45203MH2009PTC191747

NEMINATH HOMES PRIVATE LIMITED

16/04/2009

-

U45400MH2010PTC199019

STAR ONE REALCON PRIVATE LIMITED

25/06/2014

-

 

 

Name :

Mr. Nemichand Poonamchand Jain

Designation :

Director

Address :

B-2, Matru Ashish, 6th Floor, Nepean Sea Road, Mumbai -400036, Maharashtra, India

Date of Birth/Age :

04.05.1961

Date of Appointment :

16.04..2009

DIN No:

02147956

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U70100MH1995PTC088778

JHAVERI PREMISES PRIVATE LIMITED

14/07/2004

-

U45400MH2010PTC199019

STAR ONE REALCON PRIVATE LIMITED

01/12/2010

-

U45200MH2002PTC138161

N M RESIDENCY PRIVATE LIMITED

06/12/2002

-

 

LLPIN/FLLPIN

LLP Name

Begin Date

End Date

AAB-4407

DEVTARU HOMES LLP

03/04/2013

-

AAB-7040

NEMINATH STRUCTURES LLP

13/08/2013

-

AAD-3622

ELLORA REALCON LLP

13/02/2015

-

AAE-2700

JCM REALTORS LLP

29/06/2015

-

AAG-7745

MUMBAI SHELTER PROJECT JAIRAJRATAN LLP

25/06/2016

-

 

 

KEY EXECUTIVES

 

Name :

N. Bagaria and Associates

Designation :

Company Secretary

Address :

Shah Arcade 1, “A” Wing, 1st Floor, Rani Sati Road, Malad (East), Mumbai – 400097, Maharashtra, India

Tel. No:

91-22-28884504/ 10

Fax. No:

91-22-28881721

Email:

N_bagaria@hotmailo.com

 

 

Name :

Mr. Ravi Chalke

Designation :

Site Supervisor

 

 

MAJOR SHAREHOLDERS

 

As on 31.03.2017

 

Names of Shareholders

 

No. of Shares

Mahendra Jhaveri

 

1225

Tapan Jhaveri

 

2268

Harsh Jain

 

2275

Nemichand Poonamchand Jain

 

4225

Tapan Jhaveri (Jt. Holder Mahavir Shanilal Jain)

 

1

Tapan Jhaveri (Jt. Holder Rajul Ganpatraj Choudhary)

 

1

Tapan Jhaveri (Jt. Holder Sampatraj Choudhary)

 

1

Tapan Jhaveri (Jt. Holder Nilam D. Kothari)

 

1

Tapan Jhaveri (Jt. Vinay Chand Kothari)

 

1

Tapan Jhaveri (Jt. Holder Anil Babulalji Chokhara)

 

1

Tapan Jhaveri (Jt. Holder Meena V. Kothari)

 

1

Total

 

10000

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 30.09.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family – Indian)

100.00

Total 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Construction Activity.  (Registered Activity)

 

 

Services :

Item Code No.

Services Description

7010

Sale of Flats

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cheque and RTGS

 

 

Purchasing :

Cheque and RTGS

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Builders 

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

10 (Approximately)

 

 

Bankers :

Banker Name :

Bank of Baroda

Branch :

Dada Manzil, 67/69, Mohd. Ali Road, Ramabai Ambedkar Marg, Crawford Market, Fort, Mumbai - 400001, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

91-22-23453196 (does not exists)

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

  • Union Bank of India, Sakinaka Branch, Mittal Industrial Estate, Gala No.15, Sanjay Building No.2, Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Short-term borrowings

 

 

Bank Overdraft Account

50.130

0.000

Total

50.130

0.000

 

Note:

 

Bank Overdraft account, is secured against mortgage of Flats n under construction project of Plot 71/72

 

Loans balance are subject to confirmation and reconciliation.

 

Auditors :

 

Name :

Jain and Jain

Chartered Accountants

Address :

601, Jolly Bhavan No.2, 51, New Marine Lines, Opposite Nirmala Niketan Collage, Mumbai – 400020, Maharashtra, India

Tel. No.:

91-22-43408888

Fax No.:

91-22-22641689

E-Mail :

caclsa@jainandjain.com

Income-tax PAN of auditor or auditor's firm :

AAAFJ1726A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Significant Influence by KMP:

  • Star One Reaicon Private Limited
  • Neminath Heights Private Limited
  • Orbit Group Companies
  • Jhaveri Premises Private Limited
  • Devtaru Home LLP
  • Neminath Structures LLP
  • Eiiora Reaicon LLP
  • JCM Realtors LLP
  • Mumbai Shelter Project Jairajratan LLP
  • N.M. Residency Private Limited
  • Sanmukh Tradelink Private Limited
  • Prem Realtors
  • Vasai Land Development Corporation
  • Neminath Enterprises
  • Neminath Associates
  • Neminath Realty
  • Manas Developers
  • Kamla Landmarc Property Leasing and Finance Private Limited
  • Planet Infrapian Private Limited
  • Ellora Project Consultants Private Limited
  • Gagangiri  Buildcon Private Limited
  • Valens Consultancy Services Private Limited
  • B.R. Motels Private Limited
  • B.R. Holidays Private Limited
  • Westin Developers Private Limited
  • Westin Rely Infra Projects Private Limited
  • N and D Constructions LLP
  • Silversun Realty LLP
  • Eiiora Divine Infrastructure LLP

 

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1750000

Equity Shares

INR 10/- each

INR 17.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 Million

 

Add: Share forfeited

 

INR 8.125 million

 

Total

 

INR 8.225 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

8.225

8.225

8.225

(b) Reserves & Surplus

(52.996)

(76.307)

(6.206)

(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)

(44.771)

(68.082)

2.019

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

937.122

(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)

0.000

0.000

937.122

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

974.816

936.085

115.884

(b) Trade payables

59.925

45.183

61.856

(c) Other current liabilities

1052.643

1363.026

906.994

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

2087.384

2344.294

1084.734

 

 

 

 

TOTAL

2042.613

2276.212

2023.875

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.503

0.437

0.579

(ii) Intangible Assets

0.000

0.000

0.000

(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

0.050

0.000

0.000

(c) Deferred tax assets (net)

37.460

44.482

13.508

(d)  Long-term Loan and Advances

366.755

337.436

242.260

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

404.768

382.355

256.347

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1616.830

1846.623

1823.428

(c) Trade receivables

0.000

0.000

0.000

(d) Cash and cash equivalents

(22.361)

13.469

(79.035)

(e) Short-term loans and advances

43.376

33.765

23.128

(f) Other current assets

0.000

0.000

0.007

Total Current Assets

1637.845

1893.857

1767.528

 

 

 

 

TOTAL

2042.613

2276.212

2023.875

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

756.633

568.496

91.570

 

Other Income

41.075

31.354

21.256

 

TOTAL

797.708

599.850

112.826

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

102.911

165.346

38.808

 

Construction Activity

303.960

371.337

466.627

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

229.793

(23.195)

(539.128)

 

Employees benefits expense

4.912

5.282

4.916

 

Other expenses

45.092

91.629

85.712

 

TOTAL

686.668

610.399

56.935

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

111.040

(10.549)

55.891

 

 

 

 

 

Less

FINANCIAL EXPENSES

80.574

90.343

99.541

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

30.466

(100.892)

(43.650)

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

0.133

0.182

0.227

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

30.333

(101.074)

(43.877)

 

 

 

 

 

Less

TAX

7.022

(30.973)

(13.433)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

23.311

(70.101)

(30.444)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

2331.15

(7010.07)

(3044.39)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

0.000

0.000

0.102

Cash generated from operations

18.021

394.422

(161.853)

Net cash flows from (used in) operating activity

18.021

394.422

(161.853)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

0.00

0.00

0.00

 
 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

0.00

0.00

0.00

 
 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

212.54

99.74

581.77

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.07

(0.01)

0.03

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

220.76

(24.14)

96.53

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

1.02

1.03

1.00

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

(21.77)

(13.75)

521.60

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

(46.62)

(34.43)

537.26

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

(0.01)

(0.01)

0.29

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.38

(0.12)

0.56

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

3.08

(12.33)

(33.25)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

1.14

(3.08)

(1.50)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(52.07)

102.97

(1507.88)

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.78

0.81

1.63

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.01

0.02

(0.05)

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

(0.02)

(0.03)

0.00

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

118.52

113.81

128.04

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.78

0.81

1.63

 

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

8.225

8.225

8.225

Reserves & Surplus

(6.206)

(76.307)

(52.996)

Net worth

2.019

(68.082)

(44.771)

 

 

 

 

long-term borrowings

937.122

0.000

0.000

Short term borrowings

115.884

936.085

974.816

Total borrowings

1053.108

936.085

974.816

Debt/Equity ratio

521.599

(13.749)

(21.773)

 

 

 

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

91.570

568.496

756.633

 

 

520.832

33.094

 

 

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

91.570

568.496

756.633

Profit /(Loss)

(30.444)

(70.101)

23.311

 

(33.25%)

(12.33%)

3.08%

 

 

 

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

Yes

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

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

FINANCIAL PERFORMANCE

 

During the year, the Company has earned Total Revenue of INR 797.708 million in comparison to INR 599.850 million during the previous year. The Company has earned net profit after tax of INR 23.311 million in comparison to net loss of INR 70.101 million during the previous year.

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Short-term borrowings

 

 

Loans from Directors and their relatives

2.618

38.975

Loans from Others

922.068

897.110

Total

924.686

936.085

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G41482217

100091120

UNION BANK OF INDIA

22/03/2017

-

-

50000000.0

TURNER ROAD BRANCH,191/192, TURNER ROAD, BANDRA (WEST),MUMBAIMH400053IN

2

B61647236

10385235

UNION BANK OFINDIA

27/09/2012

-

-

145000000.0

Sakinaka Branch,Mittal Industrial Estate,Gala No15Sanjay Building No.2,Andheri-Kurla Rd,Andheri (E)MumbaiMH400059IN

 

 

 

 

FIXED ASSETS

  • LCD and Mobile Equipment
  • Plant and Equipment
  • Furniture and Fixture
  • Vehicles
  • Computers

 

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 66.78

UK Pound

1

INR 92.89

Euro

1

INR 80.74

 

 

INFORMATION DETAILS

 

Information Gathered by :

TJL

 

 

Analysis Done by :

NSG

 

 

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

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)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.