|
|
|
MIRA INFORM REPORT
|
Report No. : |
491266 |
|
Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
CITY AND INDUSTRIAL DEVELOPMENT CORPORATION OF MAHARASHTRA
LIMITED |
|
|
|
|
Registered
Office : |
Nirmal 2nd Floor Nariman Point Mumbai – 400021 Maharashtra |
|
Tel. No.: |
91-22-67918557 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
17.03.1970 |
|
|
|
|
Com. Reg. No.: |
11-014574 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 39.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1970SGC014574 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN/UIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC3303K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
operates as a property development company. The company develops residential,
commercial and industrial sectors, CIDCO offers planning, projects
management, and consultancy services in India. (Indirect source) |
|
|
|
|
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a fully owned subsidiary of “Government of Maharashtra” incorporated in the year 1970 with the major mandate given to it of developing a new city with a view of decongesting Mumbai via infrastructure works. Further CIDCO is an established company and it is having fine track record. Management has failed to file its financials with Registrar of Companies after 2015. As per the available financials of March 2015 “CIDCO” has achieved a stable revenue along with fair profitability margin during the year. Rating takes into consideration the sound financial position marked by adequate net worth base and low solvency level. Rating continue to derive strength from its long and established track record of its business operation backed by State Government. Further CIDCO has undertaken huge projects of building “Navi Mumbai Airport” which is to be completed by 2019 and Mumbai Trans Harbour Link (MTHL) project which would reduce travel time between south Mumbai and Navi Mumbai. However these rating strengths gets partially offset by its non-availability of its latest financial record along with residual project implementation risks considering possible time and cost over runs susceptibility of the project to macro-economic factors investment patterns of the financial service industry and inherent cyclicality in the real estate and construction space. Payments seems to be regular. 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.
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 09.02.2018
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. Pradeep Ranjan Rath |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-67918557 |
|
Date : |
08.02.2018 |
Continuously ringing (91-22-66500900)
LOCATIONS
|
Registered Office : |
Nirmal 2nd Floor Nariman Point Mumbai – 400021 Maharashtra
India |
|
Tel. No.: |
91-22-67918557 / 66500900 |
|
Fax No.: |
91-22-22002250 / 22022509 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head office: |
CIDCO Bhavan CBD Belapur Navi Mumbai – 400614 Maharashtra India |
|
Tel. No.: |
91-6791-8123/8564 |
|
Fax No.: |
91-22-67918194 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Bhushan Ashok Gagrani |
|
Designation : |
Managing Director |
|
Address : |
34 Yashodhan Opposite To C.C.I Churchgate Mumbai – 400020
Maharashtra India |
|
Date of Appointment : |
13.04.2016 |
|
DIN No.: |
00204045 |
|
|
|
|
Name : |
Mr. Nitin Nandkishor Kareer |
|
Designation : |
Director |
|
Address : |
40 Floor-10th Amber Narayan Dabholkar Road Malabar Hill
Mumbai – 400006 Maharashtra India |
|
Date of Appointment : |
05.01.2015 |
|
DIN No.: |
01624863 |
|
|
|
|
Name : |
Mr. Anil Udhavrao Diggikar |
|
Designation : |
Director |
|
Address : |
10 6th Floor Suruchi Bldg G J Bhosale Marg Nariman Point
Mumbai – 400021 Maharashtra India |
|
Date of Appointment : |
03.09.2015 |
|
DIN No.: |
01757101 |
|
|
|
|
Name : |
Mr. Rajendra Ramchandra Chavan |
|
Designation : |
Director |
|
Address : |
Sugar Commissioner Banglow Sakhar Sankul Shivajinagar Pune
– 411005 Maharashtra India |
|
Date of Appointment : |
18.09.2015 |
|
DIN No.: |
03083340 |
|
|
|
|
Name : |
Mr. Urvinder Pal Singh Madan |
|
Designation : |
Director |
|
Address : |
Pent House 8th Floor Jetwan Bandra Kurla Complex Bandra
East Mumbai - 400051 Maharashtra India |
|
Date of Appointment : |
05.07.2014 |
|
DIN No.: |
03570256 |
|
|
|
|
Name : |
Mr. Jagdish Patil Devidasrao |
|
Designation : |
Director |
|
Address : |
Shivdarshan Collectors Residence Siddheshwar Peth Solapur
– 413003 Maharashtra India |
|
Date of Appointment : |
07.06.2017 |
|
DIN No.: |
03635966 |
|
|
|
|
Name : |
Mrs. Prajakta Lavangare Verma |
|
Designation : |
Director |
|
Address : |
Sdm Bungalow Opposite Po Vaijapur Shivrai Rd Vaijapur
Aurangabad – 423701 Maharashtra India |
|
Date of Appointment : |
10.08.2016 |
|
DIN No.: |
05117895 |
|
|
|
|
Name : |
Mrs. Maneesha Patankar Mhaiskar |
|
Designation : |
Director |
|
Address : |
16 Bel Heaven 5th Floor Near Bombay Hospital New Marine Lines
Churchgate Mumbai - 400020 Maharashtra India |
|
Date of Appointment : |
05.01.2015 |
|
DIN No.: |
07113770 |
|
|
|
|
Name : |
Mr. Ramaswami Nallamuthu |
|
Designation : |
Director |
|
Address : |
Commissioner's Bunglow Plot No.E-11 Sector 21 Nr. Nerul Railw
Ay Station Navi Mumbai - 400706 Maharashtra India |
|
Date of Appointment : |
27.03.2017 |
|
DIN No.: |
07955412 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Ranjan Rath |
|
Designation : |
Company Secretary |
|
Address : |
L451 Raghunath Vihar Sector 14 Army Colony Kharghar Navi
Mumbai – 410210 Maharashtra India |
|
Date of Appointment : |
10.12.2009 |
|
PAN No.: |
ADKPR6760M |
MAJOR SHAREHOLDERS
AS ON 25.09.2017
|
Names of Shareholders |
No. of Shares |
|
|
Government of Maharashtra India |
|
394993 |
|
G. A. Lokhande |
|
1 |
|
M. M. Patil |
|
1 |
|
Vinayak s. Chavhan |
|
1 |
|
Sanjay Banait |
|
1 |
|
R. V. Kulkarni |
|
1 |
|
A.S. Jivane |
|
1 |
|
Suresh Kakani |
|
1 |
|
Total |
|
395000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- state Government |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is operates as a property development company. The company develops residential,
commercial and industrial sectors, CIDCO offers planning, projects
management, and consultancy services in India. (Indirect source) |
||||
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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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No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Kailash Chand Jain and Company Chartered Accountants |
|
Address : |
EDENA 1st Floor 97 Maharshi Karve Road Near Income Tax
Office Mumbai – 400020 Maharashtra India |
|
Tel No: |
91-22-22009131/22065373 |
|
Fax No: |
91-22-22089978 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFK3998D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary: |
Mahatourism Corporation Limited – [U93090MH2009SGC192415] |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 100/- each |
INR 50.000 Million |
|
|
|
|
|
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
395000 |
Equity Shares |
INR 100/- each |
INR 39.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
39.500 |
39.500 |
39.500 |
|
(b) Reserves &
Surplus |
22.045 |
21.700 |
21.200 |
|
(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) |
61.545 |
61.200 |
60.700 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
118.753 |
137.143 |
158.354 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
90062.518 |
97479.283 |
92744.535 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
90181.271 |
97616.426 |
92902.889 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1228.915 |
2830.140 |
3492.249 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
4571.499 |
4157.804 |
3714.297 |
|
(d) Short-term provisions |
5.948 |
5.793 |
5.793 |
|
Total Current Liabilities
(4) |
5806.362 |
6993.737 |
7212.339 |
|
|
|
|
|
|
TOTAL |
96049.178 |
104671.363 |
100175.928 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
138.561 |
151.445 |
128.640 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
26.046 |
26.046 |
13.580 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2147.913 |
2147.913 |
2147.913 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3163.293 |
10327.142 |
10016.434 |
|
(e) Other Non-current
assets |
2067.080 |
1891.921 |
1720.860 |
|
Total Non-Current Assets |
7542.893 |
14544.467 |
14027.427 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
77461.896 |
79008.144 |
75682.527 |
|
(e) Short-term loans and
advances |
713.648 |
284.852 |
158.762 |
|
(f) Other current assets |
10330.741 |
10833.900 |
10307.212 |
|
Total Current Assets |
88506.285 |
90126.896 |
86148.501 |
|
|
|
|
|
|
TOTAL |
96049.178 |
104671.363 |
100175.928 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
0.500 |
0.500 |
0.500 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
0.500 |
0.500 |
0.500 |
|
|
|
TOTAL |
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
0.000 |
0.000 |
0.000 |
|
|
Other expenses |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
Less |
TAX |
0.155 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.345 |
0.500 |
0.500 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
|
|
|
|
|
Basic |
0.87 |
1.27 |
1.27 |
|
|
Diluted |
0.87 |
1.27 |
1.27 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.00 |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.06 |
0.07 |
0.07 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
21.90 |
48.49 |
60.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
94.34 |
114.28 |
118.82 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
2.67 |
2.90 |
2.34 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
69.00 |
100.00 |
100.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
0.56 |
0.82 |
0.82 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Ratio (Current Assets / Current Liabilities) |
15.24 |
12.89 |
11.94 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
15.24 |
12.89 |
11.94 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
34.12 |
75.12 |
92.42 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
15.24 |
12.89 |
11.94 |
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 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
39.500 |
39.500 |
39.500 |
|
Reserves & Surplus |
21.200 |
21.700 |
22.045 |
|
Net worth |
60.700 |
61.200 |
61.545 |
|
|
|
|
|
|
long-term borrowings |
158.354 |
137.143 |
118.753 |
|
Short term borrowings |
3492.249 |
2830.140 |
1228.915 |
|
Total borrowings |
3650.603 |
2967.283 |
1347.668 |
|
Debt/Equity ratio |
60.142 |
48.485 |
21.897 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
0.500 |
0.500 |
0.500 |
|
|
|
0.000 |
0.000 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
0.500 |
0.500 |
0.500 |
|
Profit/ (Loss) |
0.500 |
0.500 |
0.345 |
|
|
100.00% |
100.00% |
69.00% |
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 |
No |
|
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 |
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 CHARGE: NO CHARGES
EXISTS FOR COMPANY
WEBSITE DETAILS:
PRESS RELEASE/ NEWS:
WORK ON NAVI MUMBAI
AIRPORT TO BE COMPLETED BY END-2019: CIDCO
February 04 2018
THANE: The work on the new airport coming up at Navi Mumbai would be completed by the end of 2019 City and Industrial Development Corporation (CIDCO) Managing Director Bhushan Gagrani today said. CIDCO is the Special Planning Authority for the airport project.
Gagrani was speaking at the annual meet of the Rotary District 3142 here
yesterday.
Incidentally Minister of State for Civil Aviation Jayant Sinha while talking at
the annual CAPA (Centre for Asia Pacific Aviation) summit through a video link
on January 31 had said that the Navi Mumbai airport could take four to five
years to be operational.
Gagrani termed the Sewri-Nhava Sheva Mumbai Trans Harbour Link (MTHL) as an important project as it would reduce travel time between south Mumbai and Navi Mumbai to just about 25 minutes.
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 64.37 |
|
|
1 |
INR 78.89 |
|
Euro |
1 |
INR 89.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKTS |
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.