|
|
|
MIRA INFORM REPORT
|
Report No. : |
489510 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HELIOS MERCANTILE LIMITED (w.e.f. 06.11.2013) |
|
|
|
|
Formerly Known
As : |
HELIOS
MERCANTILE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
99, Maker Tower, 'F' Cuffe Parade, Mumbai – 400005,
Maharashtra, India |
|
Tel. No.: |
91-22-40290011/40290013 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
13.04.2010 |
|
|
|
|
Com. Reg. No.: |
11- 201977 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 16.840 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52399MH2010PLC201977 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN/UIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH3797G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is
engaged for Trading of Textiles Products etc. [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 : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2010 and it is engaged in trading
of textile products. As per financials of March 2017, the company has registered decline in
its revenue as compared to its previous year’s revenue and has reported
minimal profit margin of 0.11%. Rating takes into consideration the company’s satisfactory track
record of business operations marked by sound net worth base along with
average debt coverage indicators and decent liquidity position. Rating also takes into account the experience of the promoters in the
textile industry and regular fund infusion from the promoters However, rating strength is
partially offset by low profitability margin, susceptibility to adverse
movement in the raw material prices, highly competitive and fragmented nature
of industry. Payments seems to be slow but correct. In view of aforesaid, 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 |
CARE |
|
Rating |
Long term rating: BBB (SO) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
28.03.2017 |
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 03.02.2018
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 BY
|
Name : |
Mrs. Laxmi |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-40290013 |
|
|
|
|
Name : |
Mr. Sharma |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-40290011 |
|
|
|
|
Date : |
03.02.2018 |
LOCATIONS
|
Registered Office : |
99, Maker Tower, 'F' Cuffe Parade, Mumbai – 400005,
Maharashtra, India |
|
Tel. No.: |
91-22-40290011/40290013 |
|
Fax No.: |
91-22-40290033 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Chirag Vinod Kumar Pittie |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
97, Maker Tower ,F,' Cuffe Parade, Mumbai – 400005,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.05.1982 |
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|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2011 |
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DIN No.: |
00117368 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Palak Kanaiyalal Bhavsar |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat-1001, Floor-10, Wing-B, Riviera CHS, Thane (West),
Siddeshwar Garden,Village Dhokali, Kolshet Road, Thane- 400607, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.08.1992 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2016 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07425056 |
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Other Directorship:
|
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Bhumika Ramesh Ruparelia |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
901 Pushp Vinod 3, 9th Floor S. V. Road, Borivali West,
Mumbai - 400092, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.09.1990 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2017 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07785779 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Praveen Sammul Shelly |
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|
Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
37, Central School Scheme, Jodhpur -342002, Rajasthan,
India |
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|
Date of Birth/Age : |
08.12.1947 |
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|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
04.10.2013 |
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|
DIN No.: |
01922237 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Sharma |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Chirag Vinod Kumar Pittie |
9950 |
|
Scenario Communication Limited |
10 |
|
Shrivallabh Pittie Mercantile Private Limited |
10 |
|
Helios Exports Limited |
10 |
|
Citron Infraprojects Limited |
1674000 |
|
Shrivallabh Pittie Infraprojects Private Limited |
10 |
|
Platinum Textiles Limited |
10 |
|
Total |
1684000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
0.59 |
|
Promoters- Body corporate |
99.41 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged for Trading of Textiles Products etc. [Registered Activity] |
||||
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||||
|
Products / Services
: |
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||||
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|
||||
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Brand Names : |
Not Available |
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|
||||
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
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|
||||
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Imports : |
Not Divulged |
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|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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|
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Shah Motilal and Associates Chartered Accountants |
|
Address : |
304, Orchid Plaza, Behind Gokul Shopping Center Next to Platform No. 8, Off S. V. Road, Borivali (West), Mumbai - 400 092, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
FEHPS1962H |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Citron Infraprojects Limited, India [U45201MH2008PLC177616] |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1684000 |
Equity Shares |
INR 10/- each |
INR 16.840 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 |
16.840 |
16.840 |
16.840 |
|
(b) Reserves and Surplus |
231.493 |
228.125 |
223.939 |
|
(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) |
248.333 |
244.965 |
240.779 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
99.492 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
286.262 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
99.492 |
286.262 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
615.935 |
787.819 |
476.359 |
|
(b) Trade
payables |
146.819 |
468.966 |
227.782 |
|
(c) Other
current liabilities |
0.897 |
0.382 |
0.540 |
|
(d) Short-term
provisions |
1.895 |
0.927 |
1.693 |
|
Total Current
Liabilities (4) |
765.546 |
1258.094 |
706.374 |
|
|
|
|
|
|
TOTAL |
1013.879 |
1602.551 |
1233.415 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
0.000 |
0.000 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
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 |
0.001 |
0.001 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
0.025 |
0.025 |
4.354 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.078 |
|
Total Non-Current
Assets |
0.026 |
0.026 |
4.432 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
7.822 |
31.416 |
56.754 |
|
(c) Trade
receivables |
836.542 |
1397.940 |
1030.934 |
|
(d) Cash and
bank balances |
166.928 |
164.635 |
0.906 |
|
(e)
Short-term loans and advances |
0.704 |
6.679 |
2.184 |
|
(f) Other
current assets |
1.857 |
1.855 |
138.205 |
|
Total
Current Assets |
1013.853 |
1602.525 |
1228.983 |
|
|
|
|
|
|
TOTAL |
1013.879 |
1602.551 |
1233.415 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3004.774 |
4227.622 |
3054.123 |
|
|
Other Income |
13.563 |
13.164 |
5.381 |
|
|
TOTAL |
3018.337 |
4240.786 |
3059.504 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2934.598 |
4157.913 |
2971.680 |
|
|
Employee benefit expense |
5.616 |
3.785 |
4.287 |
|
|
Other expenses |
0.516 |
0.709 |
4.738 |
|
|
TOTAL |
2940.730 |
4162.407 |
2980.705 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
77.607 |
78.379 |
78.799 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
71.636 |
73.060 |
73.256 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.971 |
5.319 |
5.543 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.065 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
5.971 |
5.319 |
5.478 |
|
|
|
|
|
|
|
Less |
TAX |
2.602 |
1.133 |
1.927 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3.369 |
4.186 |
3.551 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
14.964 |
10.778 |
7.227 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
18.333 |
14.964 |
10.778 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.00 |
2.47 |
2.11 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
275.353 |
(101.136) |
5.478 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
273.669 |
(103.035) |
5.478 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
101.62 |
120.69 |
123.21 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.59 |
3.02 |
2.96 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
18.26 |
41.17 |
27.98 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
9.92 |
2.49 |
1.39 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.00 |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.76 |
0.85 |
0.57 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.48 |
3.62 |
1.98 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.08 |
5.14 |
2.93 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.08 |
1.07 |
1.08 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.11 |
0.10 |
0.12 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.33 |
0.26 |
0.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.36 |
1.71 |
1.47 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.32 |
1.27 |
1.74 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.31 |
1.25 |
1.66 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.15 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
36.58 |
52.69 |
28.29 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.32 |
1.27 |
1.74 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
16.840 |
16.840 |
16.840 |
|
Reserves & Surplus |
223.939 |
228.125 |
231.493 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
240.779 |
244.965 |
248.333 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
99.492 |
0.000 |
|
Short term borrowings |
476.359 |
787.819 |
615.935 |
|
Total
borrowings |
476.359 |
887.311 |
615.935 |
|
Debt/Equity
ratio |
1.978 |
3.622 |
2.480 |
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 |
3054.123 |
4227.622 |
3004.774 |
|
|
|
38.423 |
(28.925) |
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 |
3054.123 |
4227.622 |
3004.774 |
|
Profit/ (Loss) |
3.551 |
4.186 |
3.369 |
|
|
0.12
% |
0.10
% |
0.11
% |
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 |
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 |
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 |
CORPORATE INFORMATION
Subject is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged for Trading of Textiles Products etc.
FINANCIAL AND
OPERATIONAL HIGHLIGHTS
During the year, the company Profit after tax has decreased and stood at INR 3.369 Million as compared to previous year Profit after tax INR 4.186 Million. The Directors are hopeful for better performance in the coming years.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Other loans and advances, others |
0.000 |
99.492 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others |
19.581 |
0.000 |
|
Other loans and advances, others |
121.453 |
301.232 |
|
Total |
141.034 |
400.724 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
C04521225 |
10329826 |
INDIAN OVERSEAS BANK |
15/12/2011 |
24/03/2014 |
480000000.0 |
MERCHANT CHAMBER,
OPP. S.N.D.T. COLLAGENEW MARINE LINESMUMBAIMH400020IN |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 64.08 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
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 |
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.