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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

489306

Report Date :

01.02.2018

 

IDENTIFICATION DETAILS

 

Name :

JAISINGH ALLOYS PRIVATE LIMITED

 

 

Registered Office :

207, Imperial Plaza Corner of 27th and 30th Road, Linking Road, Bandra (West) Mumbai – 400050, Maharashtra

Tel. No.:

91-22-61166000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

04.06.2010

 

 

Com. Reg. No.:

11-203722

 

 

Capital Investment / Paid-up Capital :

INR 20.000 Million

 

 

CIN No.:

[Company Identification No.]

U27320MH2010PTC203722

 

 

IEC No.:

Not Divulged

 

 

GSTIN/UIN:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCJ3700B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :
  • Subject is the dealer in all classes and kinds of ferrous and nonferrous metals.
  • Manufacturer of Aluminium and products of Aluminium and alloys.

 

[Registered Activity]

 

 

No. of Employees :

Information denied by the management

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2010 and it is having moderate track.

 

Management of the company has not filed its financials of 2017 with government department.

 

As per available financials of 2016, the company has marginal declined in its revenue from operations as compared to previous year and maintained minimal profitability margin of 0.31%.

 

However, rating takes into consideration moderate financial profile of the company marked by low reserves level.

 

Further, rating constrained on account of high debt recorded which can act as threat to its liquidity position, unfavourable gap between trade payables and receivables, low and volatile profitability margins inherent in the secondary aluminium alloys manufacturing business and exposure to foreign exchange fluctuation risk and intense competition from industry.

 

Trade relations are reported as fair. Business is active. Payments terms are reported 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.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term rating: BB+

Rating Explanation

Moderate risk of default.

Date

27.01.2017

 

Rating Agency Name

CARE

Rating

Short term rating: A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

27.01.2017

 

 

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 01.02.2018

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

INFORMATION DENIED

 

Management Non-Cooperative (91-22-61166000)

 

91-2192-268500 – number is continuously ringing

 

LOCATIONS

 

Registered Office :

207, Imperial Plaza Corner of 27th and 30th Road, Linking Road, Bandra (West) Mumbai – 400050, Maharashtra, India

Tel. No.:

91-22-61166000

Fax No.:

91-22-61166060

E-Mail :

info@jaisinghalloys.com

accounts@jaisinghalloys.com

ati@asiantradersindia.com

Website :

www.jaisinghalloys.com

 

 

Works :

Survey No.6/2, 7/1, 2A/7, Honad Village, Takai Aadoshi Road, Tal: Khalapur, Khopoli, Raigad – 410203, Maharashtra, India

Tel. No.:

91-2192-268500

Fax No.:

91-2192-267500

 

 

Branch office:

Located at

 

  • Goa

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Raj Gokaldas Jaisingh

Designation :

Director

Address :

901 - 902, Gym View Cooperative Housing Society, 16th Road, Opp. Khar Gymkhana, Khar – West, Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

15.12.1952

Date of Appointment :

04.06.2010

DIN No.:

00445266

 

 

Name :

Mr. Samay Raj Jaisingh

Designation :

Director

Address :

901 - 902, Gym View Cooperative Housing Society, 16th Road, Opp. Khar Gymkhana, Khar – West, Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

03.10.1984

Date of Appointment :

04.06.2010

DIN No.:

00445776

 

 

Name :

Mr. Sharan Raj Jaisingh

Designation :

Director

Address :

901 - 902, Gym View Cooperative Housing Society, 16th Road, Opp. Khar Gymkhana, Khar – West, Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

03.02.1986

Date of Appointment :

04.06.2010

DIN No.:

00445930

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2016

 

Names of Shareholders

No. of Shares

% of Holding

Raj Gokaldas Jaisingh

800000

40.00

Samay Raj Jaisingh

600000

30.00

Sharan Raj Jaisingh

600000

30.00

Total

2000000

100.00

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2016

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :
  • Subject is the dealer in all classes and kinds of ferrous and nonferrous metals.
  • Manufacturer of Aluminium and products of Aluminium and alloys.

 

[Registered Activity]

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Manufacturer of Aluminium and products of Aluminium and alloys

#24202

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :
  • Moho Imteyaz
  • Neyaz Ahmed Moho Nisa
  • 2 M Marketing
  • Bhagwandas Rai
  • Bombay Auto Stores
  • Lara Steel and Tubes Private Limited
  • Janak C Pandya
  • King Computer Services
  • K.N.Kapoor and Co.
  • M.M.Kuvalekar and Associates
  • National Engineering Works
  • Nihar Enterprises
  • Oriental Gases
  • Pawar Electric and Hardware Stores
  • Penta Electronics Systems
  • Ramdev Electric and Hardware Stores

 

Reference :

Revival Engineers

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :
  • Chaudhry Traders
  • Hasib Corporation
  • Kohinoor Metal Corporation
  • Mamta Trading Co.
  • Nasik Strips Private Limited
  • National Traders
  • Qual Cast Pattern Shop
  • Ravi Metal Works
  • S. N. Castings Limited

 

Reference :

Bhagwati Ferro Metal Private Limited

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

ICICI Bank Limited

Branch :

ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara - 390007, Gujarat, India

Person Name (With Designation) :

--

Contact Number :

--

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 :

--

 

  • Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India
  • The Hongkong and Shanghai Banking Corporation Limited, 52/60, Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India
  • Union Bank of India, Mumbai Samachar Marg, Mumbai - 400023, Maharashtra, India

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2016

As on

31.03.2015

SHORT TERM BORROWING

 

 

From Banks

214.897

200.015

Total

214.897

200.015

 

NOTE:

 

SHORT TERM BORROWING

 

  • Security offered towards loans from banks are movable and immovable property and current assets of the company.
  • Loans repayable on demand from banks have been guaranteed by all the directors.
  • The company has not defaulted in repayment of loans and interest in respect of any borrowings.

 

Auditors :

 

Name :

M. M. Kuvalekar and Associates

Chartered Accountants

Address :

Krishnalaya, 1st Floor, 65-67, 2nd Marine Street, Near Gol Masjid, Dhobi Talao, Mumbai- 400002, Maharashtra, India

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

ABGPK7912C

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

--

 

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2016

 

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

 

 

 

 

2000000

Equity Shares

INR 10/- each

INR 20.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2016

31.03.2015

31.03.2014

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

20.000

20.000

20.000

(b) Reserves & Surplus

10.144

7.509

-4.279

(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)

30.144

27.509

15.721

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

155.111

155.111

155.111

(b) Deferred tax liabilities (Net)

1.791

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

1.162

0.000

0.000

Total Non-current Liabilities (3)

158.064

155.111

155.111

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

342.597

289.715

118.052

(b) Trade payables

0.419

47.996

8.980

(c) Other current liabilities

7.780

11.645

16.212

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

350.796

349.356

143.244

 

 

 

 

TOTAL

539.004

531.976

314.076

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

90.919

78.827

75.497

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

2.500

1.793

(d)  Long-term Loan and Advances

3.429

4.121

2.712

(e) Other Non-current assets

0.000

0.848

0.198

Total Non-Current Assets

94.348

86.296

80.200

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

195.260

189.350

78.555

(c) Trade receivables

122.083

140.915

111.312

(d) Cash and cash equivalents

34.985

35.818

9.428

(e) Short-term loans and advances

92.320

79.558

34.555

(f) Other current assets

0.008

0.039

0.026

Total Current Assets

444.656

445.680

233.876

 

 

 

 

TOTAL

539.004

531.976

314.076

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2016

31.03.2015

31.03.2014

 

SALES

 

 

 

 

Income

848.905

875.435

593.396

 

Other Income

12.916

7.123

4.082

 

TOTAL

861.821

882.558

597.478

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

720.527

750.151

517.796

 

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

(12.076)

(6.521)

23.401

 

Employees benefits expense

5.859

4.287

3.495

 

Other expenses

106.815

102.521

45.911

 

TOTAL

821.125

850.438

590.603

 

 

 

 

 

 

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

40.696

32.120

6.875

 

 

 

 

 

Less

FINANCIAL EXPENSES

19.737

10.915

8.236

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

20.959

21.205

(1.361)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

10.517

10.124

8.505

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

10.442

11.081

(9.866)

 

 

 

 

 

Less

TAX

7.808

(0.707)

(2.864)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  

2.634

11.788

(7.002)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

7.509

(4.279)

2.723

 

 

 

 

 

 

Balance Carried to the B/S

10.143

7.509

(4.279)

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

 650.254

722.494 

306.504 

 

TOTAL IMPORTS

 650.254

722.494 

306.504 

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

1.32

5.89

(3.50)

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2016

31.03.2015

31.03.2014

Current Maturities of Long term debt

NA

NA

NA

 

 

 

 

Cash generated from operations

(27.515)

(127.879)

NA

 

 

 

 

Net cash flows from (used in) operations

(29.075)

(129.588)

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

52.49

58.75

68.47

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

6.95

6.21

5.33

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

0.21

23.35

6.33

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.21

0.17

0.09

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.45

0.41

0.09

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.94

0.95

0.95

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

16.51

16.17

17.38

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

11.64

12.70

9.11

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

3.02

2.87

4.80

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.06

2.94

0.83

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2016

31.03.2015

31.03.2014

Net Profit Margin

((PAT / Sales) * 100)

%

0.31

1.35

(1.18)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.49

2.22

(2.23)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

8.74

42.85

(44.54)

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

1.27

1.28

1.63

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.71

0.73

1.08

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.06

0.05

0.05

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

24.89

22.24

13.66

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.27

1.28

1.63

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Share Capital

20.000

20.000

20.000

Reserves & Surplus

(4.279)

7.509

10.144

Share Application money pending allotment

0.000

0.000

0.000

Net worth

15.721

27.509

30.144

 

 

 

 

Long Term borrowings

155.111

155.111

155.111

Short Term borrowings

118.052

289.715

342.597

Total borrowings

273.163

444.826

497.708

Debt/Equity ratio

17.376

16.170

16.511

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

593.396

875.435

848.905

 

 

47.530

(3.030)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

31.03.2016

 

INR In Million

INR In Million

INR In Million

Sales

593.396

875.435

848.905

Profit

(7.002)

11.788

2.634

 

(1.18%)

1.35%

0.31%

 

 

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

No

18

Major suppliers

Yes

19

Major customers

Yes

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

No

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

Yes

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

 

STATE OF THE COMPANY'S AFFAIRS / OPERATION REVIEW:

 

This year the Company has achieved the total net revenue from Operation of INR 848.905 Million. The revenue is less by 3.03% compare to previous year. The Company has achieved profit before tax INR 10.442 Million compared to last year profit of INR 11.081 Million However, due to higher provisions towards deferred tax liability, the net profit is at INR 2.634 Million, which is less 77.65%. The Company is confident to improve its performance in coming year.

 

UNSECURED LOANS:

 

(INR In Million)

Particulars

As on

31.03.2016

As on

31.03.2015

LONG TERM BORROWING

 

 

Loans and advances from related parties

155.111

155.111

SHORT TERM BORROWING

 

 

Loans and advances from related parties

127.700

89.700

Total

282.811

244.811

NOTE:

 

LONG TERM BORROWING

 

The company has not issued any bonds / debentures

The company does not have any others long term borrowings

The company has not defaulted in repayment of loans and interest in respect of any borrowings

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

G39748975

100075533

ICICI BANK LIMITED

02/02/2017

24/03/2017

-

75000000.0

ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN

2

G68147321

10565203

YES BANK LIMITED

23/03/2015

19/09/2017

-

240000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN

3

G05950969

10361417

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

29/05/2012

25/05/2016

-

120000000.0

52/60, MAHATMA GANDHI ROAD, FORTMUMBAIMH400001IN

4

G33402454

10540302

UNION BANK OF INDIA

19/11/2014

-

07/01/2017

70000000.0

MUMBAI SAMACHAR MARG,MUMBAIMH400023IN

5

C57971459

10482284

THE SOUTH INDIAN BANK LIMITED

17/02/2014

11/06/2014

10/06/2015

70000000.0

NARIMAN POINT BRANCH,8,GROUND FLOOR, EMBASSY CENTRE, 207, NARIMAN POINTMUMBAIMH400021IN

 

 

FIXED ASSETS:

 

  • Freehold Land
  • Forklift Truck
  • Computers
  • Electrical Fittings and Fixtures
  • Air conditioner
  • Furniture and Fixtures
  • Fire Extinguisher
  • Office Equipment’s
  • Photocopy Machine     
  • Telephones Instruments
  • Water Cooler
  • Two Wheeler

 

 

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 records 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 63.69

UK Pound

1

INR 90.35

Euro

1

INR 79.21

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

PSD

 

 

Report Prepared by :

KVT

 

 

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)

 

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.