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MIRA
INFORM REPORT
|
Report No. : |
490700 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
WOODS IMPEX LLP |
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|
|
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Registered
Office : |
No. 5, 2nd Cross, Kammanahalli Main Road, St. Thomas Town Post, Bangalore
- 560084, Karnataka |
|
Tel. No. : |
91-80-42734500 |
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|
|
Country : |
India |
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Financial as on: |
31.03.2017 |
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Date of
Incorporation : |
11.03.2016 |
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|
|
|
Total Obligation
of Contribution : |
INR 0.100 Million |
|
|
|
|
LLPIN : |
AAF-9082 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRW01927C |
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|
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PAN No.: [Permanent Account No.] |
AACFW2656E |
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|
|
|
Legal Form : |
Limited Liabilities Partnership |
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Line of Business
: |
Dealers, Importers and Exporters of all
kinds of furniture, fittings, wooden products, ply wood and teak wood and
other ancillary (Registered Activity) Note: Line of
business is updated as per latest annual report 2017 |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 : |
Relatively new firm |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new firm established on 11th March 2016 and it is a dealers, importers and exporters of all kinds of furniture, fittings, wooden products, ply wood and teak wood and other ancillary. As per financials of March 2017, the firm has commenced its business operations which resulted to decent revenue profile and has reported average profit margin. Rating takes into consideration the firm’s limited track record of business operations along with moderate capital base and average liquidity position. Payments seem to be slow but correct. In view of aforesaid, the firm can be considered for business dealings with some caution. Note: Information regarding Import are not available from any sources
and management also denied to provide the information on the same. |
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 |
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
31-03-2016.
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 08.02.2018
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 DECLINED BY
|
Name : |
Ms. Shweta |
|
Designation : |
Accountant |
|
Contact No.: |
91-80-42734500 |
|
Date : |
07.02.2018 |
LOCATIONS
|
Registered Office : |
No. 5, 2nd Cross, Kammanahalli Main Road, St. Thomas Town Post, Bangalore
- 560084, Karnataka, India |
|
Tel. No. : |
91-80-42734500 |
|
Fax No. : |
Not Available |
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E-Mail: |
PARTNERS
|
Name : |
Mr. Subramaniam Mathan |
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|
Designation : |
Designated Partner |
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Address : |
No 5, 2nd Cross, Kammanahalli Main Road, Saint Thomas Town, Bangalore 560094, Karnataka, India |
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Date of Birth/Age : |
19.11.1976 |
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Date of Appointment : |
11.03.2016 |
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DPIN No.: |
05001211 |
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Other Directorship :
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Name : |
Mr. Subramaniam Vijai |
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Designation : |
Designated Partner |
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|
Address : |
No.5, 2nd Cross, Kammanahalli Main Road, St Thomas Town, Bangalore 560084, Karnataka, India |
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Date of Birth/Age : |
19.09.1975 |
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Date of Appointment : |
11.03.2016 |
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DPIN No.: |
05001482 |
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Other Directorship :
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Name : |
Mrs. Maheswari Vijai |
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Designation : |
Partner |
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|
Address : |
No 5, 2nd Cross, Kammanahalli Main Road, St. Thomas Town, Bangalore- 560084, Karnataka, India |
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Date of Appointment : |
11.03.2016 |
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PAN No.: |
ADQPV6436L |
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Name : |
Mrs. Preethi Somasundaram |
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Designation : |
Partner |
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|
Address : |
No 5, 2nd Cross, Kammanahalli Main Road, St. Thomas Town, Bangalore- 560084, Karnataka, India |
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PAN No.: |
CPKPS7958L |
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Note:
- Director’s details has been updated and rectified as per the latest government registry records.
- It was a typo error in our earlier report, correct name of partner is Mrs. Maheswari Vijai
KEY EXECUTIVES
|
Name : |
Ms. Shweta |
|
Designation : |
Accountant |
CONTRIBUTION DETAILS
As on 31.03.2017
|
Names of Persons |
INR In Million |
|
Preethi Somasundaram |
0.025 |
|
Vijai Maheswari |
0.025 |
|
Vijai Subramaniam |
0.025 |
|
Mathan Subramaniam |
0.025 |
|
Total |
0.100 |
BUSINESS DETAILS
|
Line of Business : |
Dealers, Importers and Exporters of all
kinds of furniture, fittings, wooden products, ply wood and teak wood and
other ancillary (Registered Activity) Note: Line of
business is updated as per latest annual report 2017 |
|
|
|
|
Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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|
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
|
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Auditors : |
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|
Name : |
Nagadheep Sathyanarayana and Company Chartered Accountants |
|
Address : |
Flat No. S-2, Level-3, No.13, Vasavi Temple Street, Basavanagudi, Bangalore-
560004,
Karnataka, India |
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|
|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Sister Concerns : |
Not Divulged |
CAPITAL STRUCTURE
|
Particular |
31.03.2017 |
|
|
|
|
Total Obligation of
Contribution: |
INR 0.100 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
EQUITY
AND LIABILITIES |
|
|
|
|
|
1] Contribution received |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
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3] Reserves & Surplus |
|
|
0.000 |
|
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
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|
0.100 |
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|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
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2] Unsecured Loans |
|
|
0.000 |
|
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3] Short term borrowings |
|
|
1.000 |
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TOTAL BORROWING |
|
|
1.000 |
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DEFERRED TAX LIABILITIES |
|
|
0.000 |
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|
|
|
|
|
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TOTAL |
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|
1.100 |
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
|
0.050 |
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Capital work-in-progress |
|
|
0.000 |
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|
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INVESTMENT |
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|
0.000 |
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|
DEFERREX TAX ASSETS |
|
|
0.000 |
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|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
35.440
|
|
|
Cash & Bank Balances |
|
|
8.342
|
|
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Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
4.492
|
|
Total
Current Assets |
|
|
48.274
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
39.726
|
|
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Other Current Liabilities |
|
|
1.873
|
|
|
Provisions |
|
|
5.625
|
|
Total
Current Liabilities |
|
|
47.224
|
|
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Net Current Assets |
|
|
1.050
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1.100 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
35.488 |
|
|
Other Income |
|
|
0.098 |
|
|
TOTAL |
|
|
35.586 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Raw material consumed |
|
|
30.845 |
|
|
Personnel Expenses |
|
|
2.612 |
|
|
Administrative Expenses |
|
|
1.384 |
|
|
TOTAL |
|
|
34.841 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
0.745 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
|
0.745 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.006 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
0.739 |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.256 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
0.483 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
364.51 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
|
1.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
470.09 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
|
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
14.90 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.88 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
10.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
425.99 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.50 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
|
|
1.36 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
1.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
483.00 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
|
1.03 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
10.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
1.03 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
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 |
Yes |
|
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 |
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 one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
M05159850 |
100127886 |
Axis Bank Limited |
27/09/2017 |
- |
- |
75000000.0 |
CORPORATE BANKING BRANCH, SECOND FLOO EXPRESS BUILDING, NO.1, QUEEN'S ROAD BANGALORE -560001, KARNATAKA, INDIA |
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 63.61 |
|
|
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
YES |
|
--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.