|
|
|
MIRA INFORM REPORT
|
Report No. : |
490015 |
|
Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BORANA PLASTIC LIMITED (w.e.f. 15.09.1992) |
|
|
|
|
Formerly Known
As : |
BORANA PLASTIC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-11, Wadala Udyog Bhavan, Naigaon Cross Road, Wadala, Mumbai –
400031, Maharashtra |
|
Tel. No.: |
91-22-24147581/ 40572999 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.04.1988 |
|
|
|
|
Com. Reg. No.: |
11-046988 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 8.701 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1988PLC046988 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMB11738G |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB3552D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
(Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined 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 1988. It is engaged in polymer
business and also acts as a Del Credere Agent of Indian Oil. For the financial year 2017, the company has achieved revenue growth as
compared to the previous year along with a decent profit margin. The satisfactory financial risk profile of the company is marked by
negligible debt balance sheet profile. Rating takes into account the subject’s long established track record of
business operations along with extensive experience of its promoters. 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 |
ICRA |
|
Rating |
Long Term Borrowing = BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
20.03.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Borrowing = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
20.03.2017 |
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 07.02.2018
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 : |
Mr. Manish Borana Baboolal |
|
Designation : |
Director |
|
Contact No.: |
91-9821014717 |
|
Date : |
05.02.2018 |
Mobile No.: 91-9820046004 – Switch Off
MANAGEMENT NON-COOPERATIVE: Tel. No.:
91-22-24147581 / 40572999
LOCATIONS
|
Registered Office : |
B-11, Wadala Udyog Bhavan, Naigaon Cross Road, Wadala, Mumbai –
400031, Maharashtra, India |
|
Tel. No.: |
91-22-24147581 / 40572999 |
|
Mobile No.: |
91-9821014717 [Mr. Baboolal Borana] 91-9820046004 [Mr. Manish Borana] |
|
Fax No.: |
91-22-40572900 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Branch Office : |
Plot No.1, Agarwal Industrial Estate No.4, Agarwal Udyog Nagar, Valiv,
Vasai, Thane, Maharashtra, India |
|
Location : |
Owned |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Manish Borana Baboolal |
|
Designation : |
Director |
|
Address : |
Flat No. 9, Homelands CHS Limited, 55/A, Hill Road, Ramdas Nayak Marg,
Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
18.06.1980 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
23.02.1999 |
|
DIN No.: |
00090941 |
|
PAN No.: |
ACSPB2604B |
|
|
|
|
Name : |
Mrs. Ratandevi Baboolal Borana |
|
Designation : |
Director |
|
Address : |
Flat No. 9, Homelands CHS Limited, 55/A, Hill Road, Ramdas Nayak Marg,
Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
16.07.1956 |
|
Qualification : |
S.S.C |
|
Date of Appointment : |
15.10.2003 |
|
DIN No.: |
00091045 |
|
|
|
|
Name : |
Mrs. Kajal Manish Borana |
|
Designation : |
Director |
|
Address : |
9, Homelands CHS Limited, 55/A, Hill Road, Ramdas Nayak Marg, Bandra (West),
Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1985 |
|
Qualification : |
M.Com |
|
Date of Appointment : |
04.11.2004 |
|
DIN No.: |
00091093 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Pradeep C Borana |
|
10 |
|
Manish B Borana |
|
387710 |
|
Ratandevi B Borana |
|
262310 |
|
Dayamanti P Borana |
|
10 |
|
Pankaj C Hingarh |
|
10 |
|
Sonal P Hingarh |
|
10 |
|
Bhupeth P Seth |
|
10 |
|
Kajal M Borana |
|
80010 |
|
Caliber Marketing Private Limited, India |
|
35000 |
|
Paras Corporate Services Private Limited, India |
|
35000 |
|
Universal Credit and Sec. Limited, India |
|
35000 |
|
Raunak Securities Private Limited, India |
|
35000 |
|
Total |
|
870080 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
83.90 |
|
Public – (Individual/ Hindu Undivided
Family – Indian) |
16.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
(Registered activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
S. V. Navalkar and Associates Chartered Accountants |
|
Address : |
Flat No. 206, Building No.2B, Swan Mill Compound, New Mill Road, Kurla
[West], Mumbai – 400070, Maharashtra, India |
|
Tel No.: |
91-22-22080691/22069137 |
|
Fax No.: |
91-22-22034833 |
|
Membership No.: |
40433 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACIPN5337M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
870080 |
Equity Shares |
INR 10/- each |
INR 8.701 Million |
|
|
|
|
|
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8.701 |
8.701 |
8.701 |
|
(b) Reserves & Surplus |
84.872 |
78.137 |
73.262 |
|
(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) |
93.573 |
86.838 |
81.963 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
101.307 |
81.646 |
67.134 |
|
(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) |
101.307 |
81.646 |
67.134 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
36.233 |
23.318 |
2.277 |
|
(c) Other current liabilities |
6.885 |
7.453 |
11.539 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
43.118 |
30.771 |
13.816 |
|
|
|
|
|
|
TOTAL |
237.998 |
199.255 |
162.913 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8.197 |
9.175 |
9.341 |
|
(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 |
0.228 |
0.228 |
0.228 |
|
(c) Deferred tax assets (net) |
1.804 |
1.643 |
1.390 |
|
(d) Long-term Loan and Advances |
3.952 |
5.309 |
5.514 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
14.181 |
16.355 |
16.473 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
210.880 |
160.762 |
126.995 |
|
(d) Cash and cash equivalents |
9.656 |
19.241 |
17.750 |
|
(e) Short-term loans and
advances |
3.281 |
2.897 |
1.695 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
223.817 |
182.900 |
146.440 |
|
|
|
|
|
|
TOTAL |
237.998 |
199.255 |
162.913 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
Other Income |
28.571 |
23.209 |
28.905 |
|
|
TOTAL
|
28.571 |
23.209 |
28.905 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits expense |
6.988 |
6.203 |
6.121 |
|
|
Other administrative expenses |
4.078 |
4.716 |
4.821 |
|
|
TOTAL |
11.066 |
10.919 |
10.942 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
17.505 |
12.290 |
17.963 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.418 |
3.956 |
1.974 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.087 |
8.334 |
15.989 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.999 |
1.278 |
1.529 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
10.088 |
7.056 |
14.460 |
|
|
|
|
|
|
|
Less |
TAX |
3.353 |
2.180 |
4.697 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
6.735 |
4.876 |
9.763 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
71.137 |
66.261 |
56.498 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
77.872 |
71.137 |
66.261 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
7.73 |
5.60 |
11.21 |
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 flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Total Income * 365 Days) |
2694.03 |
2528.25 |
1603.64 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.14 |
0.14 |
0.23 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.14 |
1.34 |
1.92 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.61 |
0.56 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.08 |
0.94 |
0.82 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.46 |
0.35 |
0.17 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.09 |
0.11 |
0.11 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.73 |
3.11 |
9.10 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Total
Income) * 100) |
% |
23.57 |
21.01 |
33.78 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.83 |
2.45 |
5.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
7.20 |
5.62 |
11.91 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
5.19 |
5.94 |
10.60 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
5.19 |
5.94 |
10.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.39 |
0.44 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
11.64 |
9.38 |
7.72 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
5.19 |
5.94 |
10.60 |
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 |
8.701 |
8.701 |
8.701 |
|
Reserves & Surplus |
73.262 |
78.137 |
84.872 |
|
Net
worth |
81.963 |
86.838 |
93.573 |
|
|
|
|
|
|
Long Term borrowings |
67.134 |
81.646 |
101.307 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
67.134 |
81.646 |
101.307 |
|
Debt/Equity
ratio |
0.819 |
0.940 |
1.083 |
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 |
|
Total
Income |
28.905 |
23.209 |
28.571 |
|
|
|
(19.706) |
23.103 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Total
Income |
28.905 |
23.209 |
28.571 |
|
Profit |
9.763 |
4.876 |
6.735 |
|
|
33.78% |
21.01% |
23.57% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
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 |
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 |
NOTE: Registered office
of the company has been shifted from 14-B, Wadala Udyog Bhavan, Naigaum Cross
Road, Mumbai – 400031, Maharashtra, India to the present address w.e.f.
06.04.2010
OPERATIONS:
The company has reported total income of INR 28.571 Million for the current
year as compared to INR 23.209 Million in the previous year. The Net Profit for
the year amounted to INR 6.735 Million in the current year as compared to INR
4.876 Million in the previous year.
UNSECURED LOAN
|
UNSECURED LOAN |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and Advances from Related Parties |
0.635 |
0.635 |
|
Loans from Directors |
19.574 |
18.571 |
|
Total |
20.209 |
19.206 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C79036018 |
10620142 |
HDFC BANK LIMITED |
02/01/2016 |
- |
- |
884000.0 |
SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
2 |
G73761207 |
10395521 |
STATE BANK OF INDIA |
10/12/2012 |
26/12/2017 |
- |
240000000.0 |
SHIVSAGAR ESTATE BRANCH, GROUND FLOOR, DEVCHAND HOUSE, DR. A. B. ROAD, WORLI (SOUTH), MUMBAI – 400018, MAHARASHTRA, INDIA |
|
3 |
C76096478 |
90241068 |
CORPORATION BANK |
08/12/2003 |
31/12/2007 |
14/01/2016 |
50000000.0 |
SHIVAJI PARK BRANCH, 127, MANMALA TANK ROAD,TAIKALWADI, BARKHA CINEMA BUILDING, MUMBAI – 400016, Maharashtra, India |
FIXED ASSETS
- Furniture and Fixture
- Computer
- Air Conditioner
- Telex machine
- Fax Machine
- Security Systems
- Office Equipment
- Cars
- Vehicles
- Zerox Machine
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 64.02 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.