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|
MIRA INFORM REPORT
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Report No. : |
492244 |
|
Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TYTAN ORGANICS PRIVATE LIMITED |
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Registered
Office : |
3rd Floor, Sunama House, August Kranti Marg, Mumbai - 400026, Maharashtra |
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Tel. No.: |
91-22-61597500 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
16.10.1991 |
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Com. Reg. No.: |
11-063639 |
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Capital
Investment / Paid-up Capital : |
INR 7.118 Million |
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CIN No.: [Company Identification
No.] |
U24100MH1991PTC063639 |
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IEC No.: |
0393039471 |
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GSTIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACT2158H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1991. It is engaged as manufacturer and exporter of speciality chemicals and intermediates and importer of raw material. Management has not file its financials with the registrar of companies after 2013. As per available financials of 2013, the general financial position of the company is characterized by it eroded net worth base and high solvency level. Further, rating gets constrained on account of non-availability of latest financials along with its presence in highly competitive and fragmented chemical industry. However, Mr. Bhagyesh (Senior Account & Finance Department) provided information and claimed that the company has achieved revenue of approximately INR 180.000 million in FY-2016 and approximately INR 200.000 million for FY-2017, these figures are not verified. Business is active. Payment seems to be unknown. In view of aforesaid, the company can be considered for business dealings at fully safe and secured 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
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 16.02.2018.
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 PARTED BY
|
Name : |
Mr. Bhagyesh |
|
Designation : |
Senior Accounts and Finance Department |
|
Contact No.: |
91-22-61597500 |
|
Date : |
14.02.2018 |
LOCATIONS
|
Registered Office : |
3rd Floor, Sunama House, August Kranti Marg, Mumbai-400026, Maharashtra, India |
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Tel. No.: |
91-22-61597500 |
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Fax No.: |
91-22-23851767 |
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E-Mail : |
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Website : |
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Head Office/ Factory 1 : |
C-146, Trans Thane Creek Industrial Area, Pawne, Thane Belapur Road,
Thane-400703, Maharashtra, India |
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Tel. No.: |
91-22-64573300 |
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Fax No.: |
91-22-27671744 |
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Factory 2 : |
T-29, Taloja Industrial Area, MIDC Taloja, Taluka Panvel, District Raigad
– 410208, Maharashtra, India |
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Tel. No.: |
91-22-65473800 |
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Fax No.: |
91-22-27401029 |
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|
|
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Overseas Plant Office : |
Post Box 41605, Hamriyah Free Zone, Sharjah, UAE |
DIRECTORS
AS ON 2017
|
Name : |
Mr. Cyrus Maneck Bahadurji |
|
Designation : |
Director |
|
Address : |
2/3, Spenta Co-Operative Housing Society Limited, |
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Date of Birth/Age : |
24.01.1958 |
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Date of Appointment : |
16.10.1991 |
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DIN No.: |
00064818 |
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|
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Name : |
Mrs. Tanaz Cyrus Bahadurji |
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Designation : |
Director |
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Address : |
2/3, Spenta Co-Operative Housing Society Limited, |
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Date of Birth/Age : |
27.12.1956 |
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Date of Appointment : |
16.10.1991 |
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DIN No.: |
00064961 |
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|
|
|
Name : |
Mr. Anil Malhotra |
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Designation : |
Nominee Director |
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Address : |
Flat No. 411, Nestle Apartment, Mombay Dyeing Mill
Compound, Worli, Mumbai-400013, |
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Date of Birth/Age : |
25.02.1954 |
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Date of Appointment : |
04.03.2010 |
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DIN No.: |
03133593 |
KEY EXECUTIVES
|
Name : |
Mr. Bhagyesh |
|
Designation : |
Sr. Accounts and Finance Department |
MAJOR SHAREHOLDERS
AS ON 23.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Mazda Middle East (FZE), United Arab Emirates |
361767 |
50.83 |
|
Cyrus Maneck Bahadurji |
342500 |
48.12 |
|
Tanaz Bahadurji |
7500 |
1.05 |
|
Total |
711767 |
100.00 |
AS ON 23.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
50.83 |
|
Directors
or relatives of directors |
49.17 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, L/C and Credit [30,60 Days] |
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Purchasing : |
Cash, L/C and Credit [30,60 Days] |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
Note: LONG TERM BORROWINGS: a. Term loans I
Working Capital Term Loans from Central Bank of India are secured as under:
Interest Rates
Repayment schedule
b. Car loans from Kotak Mahindra Prime &
HDFC Bank Limited are secured by asset purchased under the scheme. interest Rates and
Repayment Schedule
c. Loans received
from related parties are unsecured. INR 45.000 million
carries an interest rate of 2.50% p.a. and balance INR 131.300 million is interest free. The Above loan is
repayable on or after 1st April, 2016. SHORT TERM BORROWINGS: a. Above facilities
from Central Bank of India are secured as under:
b. Cash Credit and
Overdraft facilities carry an interest rate (Base rate + 35%) as al 31st
March 2013, repayable on demand. C. Export credit
facilities from Central Bank of India are further secured by export
documents. It carries an interest rate ranging from 11.25% to 14.25% and are
payable upto 180 days. d. Local Bills
Negotiation carry an interest rale ranging from 14% to ]4.25% and are payable
upto 180 days. |
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Auditors : |
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|
Name : |
Kalyaniwala and Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage, 127, M. G. Road, Mumbai – 400001, Maharashtra, India |
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PAN No.: |
AAAFK7554R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : [As On 31.03.2013] |
Mazda (ME) FZE Erstwhile Tytan Combine FZE |
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Fellow Subsidiary : [As On 31.03.2013] |
Tytan Organic Chemicals (Middle East) FZE |
CAPITAL STRUCTURE
AS ON 23.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
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|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
711767 |
Equity Shares |
INR 10/- each |
INR 7.118 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.118 |
7.118 |
7.118 |
|
(b) Reserves &
Surplus |
(152.452) |
(153.861) |
(112.830) |
|
(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) |
(145.334) |
(146.743) |
(105.712) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
299.550 |
278.013 |
199.052 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
184.521 |
196.821 |
47.198 |
|
(d) long-term provisions |
5.421 |
4.431 |
3.408 |
|
Total Non-current
Liabilities (3) |
489.492 |
479.265 |
249.658 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
162.136 |
170.374 |
182.074 |
|
(b) Trade payables |
112.504 |
169.433 |
232.221 |
|
(c) Other current
liabilities |
87.940 |
39.922 |
196.729 |
|
(d) Short-term provisions |
3.536 |
3.585 |
5.237 |
|
Total Current Liabilities
(4) |
366.116 |
383.314 |
616.261 |
|
|
|
|
|
|
TOTAL |
710.274 |
715.836 |
760.207 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
399.221 |
423.331 |
444.998 |
|
(ii) Intangible Assets |
0.139 |
0.369 |
0.177 |
|
(iii) Capital
work-in-progress |
1.145 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.875 |
1.875 |
1.996 |
|
(c) Deferred tax assets
(net) |
2.182 |
1.873 |
1.594 |
|
(d) Long-term Loan and Advances |
3.091 |
3.279 |
0.092 |
|
(e) Other Non-current
assets |
0.057 |
0.676 |
0.655 |
|
Total Non-Current Assets |
407.710 |
431.403 |
449.512 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
34.543 |
40.523 |
47.545 |
|
(c) Trade receivables |
134.732 |
116.933 |
158.747 |
|
(d) Cash and cash
equivalents |
10.784 |
7.499 |
1.375 |
|
(e) Short-term loans and
advances |
108.725 |
110.798 |
102.937 |
|
(f) Other current assets |
13.780 |
8.680 |
0.091 |
|
Total Current Assets |
302.564 |
284.433 |
310.695 |
|
|
|
|
|
|
TOTAL |
710.274 |
715.836 |
760.207 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
481.191 |
415.256 |
552.852 |
|
|
Other Income |
3.773 |
10.982 |
6.923 |
|
|
TOTAL |
484.964 |
426.238 |
559.775 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Other Expenses |
414.986 |
400.021 |
509.411 |
|
|
Prior year adjustment |
0.000 |
(0.029) |
1.238 |
|
|
TOTAL |
414.986 |
399.992 |
510.649 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
69.978 |
26.246 |
49.126 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
43.486 |
41.025 |
38.24 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
26.492 |
(14.779) |
10.886 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
22.192 |
24.032 |
22.591 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
4.300 |
(38.811) |
(11.705) |
|
|
|
|
|
|
|
Less |
TAX |
0.284 |
(0.387) |
0.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4.016 |
(38.424) |
(11.905) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(364.609) |
(326.185) |
(314.280) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(360.593) |
(364.609) |
(326.185) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of goods at FOB value |
351.890 |
238.432 |
40.101 |
|
|
Freight |
33.533 |
17.343 |
17.343 |
|
|
Insurance |
0.000 |
0.000 |
0.191 |
|
|
Interest Income |
1.826 |
1.826 |
1.826 |
|
|
Guarantee Commission |
3.326 |
3.326 |
1.304 |
|
|
TOTAL EARNINGS |
390.575 |
260.927 |
60.765 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
9.578 |
7.383 |
22.904 |
|
|
TOTAL IMPORTS |
9.578 |
7.383 |
22.904 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.64 |
53.98 |
16.73 |
|
Particulars |
|
31.03.2017 |
31.03.2016 |
|
Sales Turnover (Approximately) |
|
200.000 |
180.000 |
|
|
|
|
|
Expected Sales (2017-2018): INR 200.000 Million
The above information has been parted by Mr. Bhagyesh (Senior Accounts
and Finance Department)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
32.147 |
28.513 |
18.026 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activities |
31.555 |
(25.542) |
(19.038) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
102.20 |
102.78 |
104.81 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
3.57 |
3.55 |
3.48 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.03 |
0.65 |
1.03 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.17 |
0.06 |
0.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.98 |
0.96 |
1.10 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(3.40) |
(3.25) |
(3.78) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(2.52) |
(2.61) |
(5.83) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(2.76) |
(2.89) |
(4.21) |
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial Charges] |
1.61 |
0.64 |
1.28 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
0.83 |
(9.25) |
(2.15) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.57 |
(5.37) |
(1.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(2.76) |
26.18 |
11.26 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.83 |
0.74 |
0.50 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.73 |
0.64 |
0.43 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(0.20) |
(0.20) |
(0.14) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
69.38 |
67.00 |
56.08 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.83 |
0.74 |
0.50 |
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 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
7.118 |
7.118 |
7.118 |
|
Reserves & Surplus |
(112.830) |
(153.861) |
(152.452) |
|
Net
worth |
(105.712) |
(146.743) |
(145.334) |
|
|
|
|
|
|
Long Term borrowings |
199.052 |
278.013 |
299.550 |
|
Short Term borrowings |
182.074 |
170.374 |
162.136 |
|
Current Maturities of Long term debt |
18.026 |
28.513 |
32.147 |
|
Total
borrowings |
399.152 |
476.900 |
493.833 |
|
Debt/Equity
ratio |
(3.776) |
(3.250) |
(3.398) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
552.852 |
415.256 |
481.191 |
|
|
|
(24.888) |
15.878 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
552.852 |
415.256 |
481.191 |
|
Profit/ (Loss) |
(11.905) |
(38.424) |
4.016 |
|
|
(2.15%) |
(9.25%) |
0.83% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION: [As
On 31.03.2013]
Subject is a private limited company domiciled and incorporated in tile Republic of India. The Company was incorporated under the Companies Act, 1956 on October 16, 1991. The Company is a diversified chemical business company and its principal activities include manufacturing and marketing of oil field chemicals and leather chemicals.
UNSECURED LOANS:
|
Particulars |
31.03.2013 INR In Million |
31.03.2012 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances
from related parties |
|
|
|
Directors |
175.856 |
162.262 |
|
Relatives of
Directors |
0.465 |
0.465 |
|
Total |
176.321 |
162.727 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C64330137 |
80001774 |
CENTRAL BANK OF INDIA |
06/01/2001 |
19/08/2015 |
- |
352300000.0 |
CORPROATE FINANCE BRANCH, CHANDER MUKHI,GR FLOOR, NARIMAN POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
|
2 |
C64326119 |
80001236 |
CENTRAL BANK OF INDIA |
27/07/1995 |
19/08/2015 |
- |
352300000.0 |
CORPROATE FINANCE BRANCH, CHANDER MUKHI,GR FLOOR, NARIMAN POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
CONTINGENT LIABILITIES:
[As On 31.03.2013]
The Company issued corporate guarantee as a parent company of the
erstwhile subsidiary for loans of INR 665.288 Million (AED 53223000) (Previous
year INR 665.288 Million (AED 53223000) subject to limits specified under the
Reserve Bank of India’s guidelines. The Company has issued another bank
guarantee in favour of one of its customer for INR 0.750 Million.
FIXED ASSETS:
Tangible Assets
·
Land - Leasehold
·
Factory Building
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicles
·
Office Equipment
·
Laboratory Equipment
·
Data Processing Equipment
·
Motor Car
·
Electrical Installations
Intangible assets
- Software Licenses
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 63.92 |
|
|
1 |
INR 79.68 |
|
Euro |
1 |
INR 89.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
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.