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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

492987

Report Date :

20.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

LANCE ENERGY SOLUTIONS PRIVATE LIMITED

 

 

Registered Office :

1/2, Pravin Estate, Nagarvel Hanuman Road, Rakhiyal, Ahmedabad – 380023, Gujarat

Mobile No.:

91-22-26871002

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

09.06.2011

 

 

Com. Reg. No.:

04-065805

 

 

Capital Investment / Paid-up Capital :

INR 6.500 Million

 

 

CIN No.:

[Company Identification No.]

U31909GJ2011PTC065805

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

24AACCL0280A1Z9

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCL0280A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :
  • Manufacture, repair, purchase sell, import, export or otherwise deal all types of electrical products to carry on business as electrical engineers and to take turnkey projects. (Registered Activity)
  • Trader of clarius grid ceiling lights, dome light and flexi led light strip, led light. (Confirmed by management)

 

 

No. of Employees :

500 (Approximately)

 

 

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 :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2011 and it is a manufacturer, importer, exporter and dealer of electrical products.

 

As per financials of March 2017, the company has registered decline in its revenue as compared to its previous year’s revenue and has reported average profit margin of 1.78%.

 

Rating takes into consideration the company’s moderate financial risk profile along with low reserves level and average liquidity position.

 

Payments seems to be slow but correct.

 

In view of aforesaid, the company can be considered for business operations with some caution. 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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 20.02.2018

 

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 (GENERAL DETAILS)

 

Name :

Mr. Rajendra

Designation :

Accounts Department

Contact No.:

91-22-26871002

Date :

19.02.2018

 

 

LOCATIONS

 

Registered Office :

1/2, Pravin Estate, Nagarvel Hanuman Road, Rakhiyal, Ahmedabad – 380023, Gujarat, India

Tel. No.:

91-22-26871002

Fax No.:

Not Available

E-Mail :

dhval.shah@lance.lighting

Website :

http://www.lance.lighting.com

 

 

Corporate office:

G-17, Apollo Industrial Estate, Near Paper Box, Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India

 

 

Branch Office:

Located At:

  • Bengaluru
  • Hyderabad
  • Chennai
  • Gurugram  

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Sanjay Murlidhar Shah

Designation :

Director

Address :

C Labhsrushti 203, Vallabh Bhai Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India

Date of Appointment :

15.02.2016

DIN No.:

00865214

Other Directorship:

CIN/FCRN

COMPANY NAME

BEGIN DATE

END DATE

U74900MH2007PTC171024

LAMMFA PROJECTS PRIVATE LIMITED

22/05/2007

-

U31901MH2011PTC217409

LITURA ENERGY SOLUTIONS PRIVATE LIMITED

12/05/2011

-

U31100MH2004PTC144490

LITURA ELECTRICAL TECHNOLOGIES PRIVATE LIMITED

12/02/2004

-

U29190MH2004PTC144365

ENPAL AIRCON PRIVATE LIMITED

04/02/2004

-

U74900MH2015PTC265444

LANCE BUILDING PRODUCTS PRIVATE LIMITED

11/06/2015

-

 

 

Name :

Mr. Prasad Lakshminarasimha Chilakamarri

Designation :

Director

Address :

D/111, Sai Jyot, Lalubhai Park Lane, Vile Parle (West), Mumbai – 400056, Maharashtra, India

Date of Appointment :

08.08.2016

DIN No.:

00865326

Other Directorship:

CIN/FCRN

COMPANY NAME

BEGIN DATE

END DATE

U74900MH2007PTC171024

LAMMFA PROJECTS PRIVATE LIMITED

22/05/2007

-

U31901MH2011PTC217409

LITURA ENERGY SOLUTIONS PRIVATE LIMITED

12/05/2011

-

U31100MH2004PTC144490

LITURA ELECTRICAL TECHNOLOGIES PRIVATE LIMITED

12/02/2004

-

U29190MH2004PTC144365

ENPAL AIRCON PRIVATE LIMITED

04/02/2004

-

U74900MH2015PTC265444

LANCE BUILDING PRODUCTS PRIVATE LIMITED

11/06/2015

-

U74999MH2017PTC293731

JARNAIRE AIRCON PRIVATE LIMITED

11/04/2017

-

 

 

Name :

Mr. Rashpalsingh Jasbir Singh Chass

Designation :

Director

Address :

D-11, Mangnum U D Co So Lokhandwala Comp, Andheri West, Mumbai – 400053, Maharashtra, India

Date of Appointment :

08.08.2016

DIN No.:

01249296

Other Directorship:

CIN/FCRN

COMPANY NAME

BEGIN DATE

END DATE

U74900MH2007PTC171024

LAMMFA PROJECTS PRIVATE LIMITED

22/05/2007

-

U29190MH2004PTC144365

ENPAL AIRCON PRIVATE LIMITED

01/04/2008

-

U74900MH2015PTC265444

LANCE BUILDING PRODUCTS PRIVATE LIMITED

11/06/2015

-

 

 

Name :

Mr. Dhaval Jayeshkumar Shah

Designation :

Director

Address :

9, Pandav Nagar Society, Mirambica- Road, Naranpura, Ahmedabad 380013 Gj In

Date of Birth/Age :

23.05.1989

Date of Appointment :

09.06.2011

DIN No.:

03163409

Other Directorship:

CIN/FCRN

COMPANY NAME

BEGIN DATE

END DATE

 

U74900MH2015PTC265444

LANCE BUILDING PRODUCTS PRIVATE LIMITED

11/06/2015

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Rajendra

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

No. of Shares

% of Holding

Sanjay M Shah

550000

84.62

Jayesh lshwarlal Patel

50000

7.69

Rashpaal J Chass

40000

6.15

Dhaval J Shah

10000

1.54

Total

650000

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

84.62

Promoters- Others

15.38

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :
  • Manufacture, repair, purchase sell, import, export or otherwise deal all types of electrical products to carry on business as electrical engineers and to take turnkey projects. (Registered Activity)
  • Trader of clarius grid ceiling lights, dome light and flexi led light strip, led light. (Confirmed by management)

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

manufacture, repair, purchase sell, import, export or otherwise deal all types of electrical products to carry on business as electrical engineers and to take turnkey projects

271/272/273

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Selling :

Cash, L/C, Credit (30/60 Days)

 

 

Purchasing :

Cash, L/C, Credit (30/60 Days)

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :
  • Wholesalers, Retailers, End Users
  • ADP Private Limited
  • Amdocs Development Centre India Private Limited
  • Arvind Limited
  • Carrier Air Conditioning Limited
  • Cisco Systems (I) Private Limited
  • Clariant Chemicals (India) Private Limited
  • Credit Suisse Services (India) Private Limited
  • Freight Systems
  • Hewlett Packard
  • Mavenir Systems
  • Nvidia Graphics Private Limited

Reference :

Power Drive Bearings Private Limited

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

500 (Approximately)

 

 

Bankers :

Banker Name :

United Bank of India

Branch :

32, New Brahmakshtriya Society, fills Bridge Pritamnagar, Ahmedabad – 380006, Gujarat, India 

Person Name (With Designation) :

--

Contact Number :

91-79-26577894

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

Continuously Ringing

 

Banker Name :

Citi Bank

Branch :

Sakinaka, Mumbai, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

 

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Vehicle Loan

0.042

0.157

Less: current portion (Secured against respective vehicle)

(0.042)

(0.116)

SHORT TERM BORROWING

 

 

Working capital loans

3.437

3.400

Current portion of vehicle loan

0.041

0.116

Total

3.522

3.557

 

 

Auditors :

 

Name :

Deopura and Kabra

Chartered Accountants

Address :

302, Haash Complex, Nagri Hospital, Law-Garden Road, Near Police Line, Ahmedabad - 380006, Gujarat, India 

Tel. No.:

91-79-26445905

PAN N Income-tax PAN of auditor or auditor's firm :

AAFFD3300D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Other Related Party :
  • Litura Electrical Technologies Private Limited
  • Lamfa Projects Private Limited

 

 

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

 

 

 

 

650000

Equity Shares

INR 10/- each

INR 6.500 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

6.500

6.500

6.500

(b) Reserves & Surplus

0.377

(1.172)

(4.462)

(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)

6.877

5.328

2.038

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

37.468

25.557

24.314

(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)

37.468

25.557

24.314

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3.478

3.516

3.127

(b) Trade payables

18.389

22.298

9.910

(c) Other current liabilities

4.016

2.739

0.209

(d) Short-term provisions

2.355

1.759

0.727

Total Current Liabilities (4)

28.238

30.312

13.973

 

 

 

 

TOTAL

72.583

61.197

40.325

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5.862

3.699

1.576

(ii) Intangible Assets

15.924

2.462

0.000

(iii) Capital work-in-progress

0.000

3.294

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.675

0.418

0.000

(d)  Long-term Loan and Advances

5.682

5.224

4.814

(e) Other Non-current assets

5.396

5.646

6.386

Total Non-Current Assets

33.539

20.743

12.776

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

14.565

9.035

9.745

(c) Trade receivables

19.994

29.215

16.419

(d) Cash and cash equivalents

2.223

0.478

0.705

(e) Short-term loans and advances

2.262

1.726

0.680

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

39.044

40.454

27.549

 

 

 

 

TOTAL

72.583

61.197

40.325

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

86.987

101.545

54.982

 

Other Income

0.011

0.293

0.121

 

TOTAL

86.998

101.838

55.103

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

0.000

0.000

0.000

 

Purchases of Stock-in-Trade

61.220

68.390

37.570

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(5.529)

0.710

(2.699)

 

Employees benefits expense

12.279

11.334

5.159

 

Other expenses

11.327

13.214

8.327

 

TOTAL

79.297

93.648

48.357

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

7.701

8.190

6.746

 

 

 

 

 

Less

FINANCIAL EXPENSES

3.456

3.468

3.482

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

4.245

4.722

3.264

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

2.954

1.851

1.444

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1.291

2.871

1.820

 

 

 

 

 

Less

TAX

(0.257)

(0.418)

0.295

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1.548

3.289

1.525

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

2.38

5.06

2.35

 

 

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

7.924

10.650

7.135

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

83.90

105.01

109.00

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

4.35

3.48

3.35

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

109.64

119.01

96.28

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.53

0.91

0.69

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.35

0.87

4.28

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.91

0.91

0.95

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

5.95

5.46

13.46

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

4.11

5.69

6.86

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

3.17

1.77

0.77

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.23

2.36

1.94

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

1.78

3.24

2.77

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

2.13

5.37

3.78

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

22.51

61.73

74.83

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.38

1.33

1.97

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.87

1.04

1.27

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.09

0.09

0.05

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

6.30

4.47

4.22

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.38

1.33

1.97

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

6.500

6.500

6.500

Reserves & Surplus

(4.462)

(1.172)

0.377

Share Application money pending allotment

0.000

0.000

0.000

Net worth

2.038

5.328

6.877

 

 

 

 

long-term borrowings

24.314

25.557

37.468

Short term borrowings

3.127

3.516

3.478

Total borrowings

27.441

29.073

40.946

Debt/Equity ratio

13.465

5.457

5.954

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

54.982

101.545

86.987

 

 

84.688

(14.337)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

54.982

101.545

86.987

Profit/(Loss)

1.525

3.289

1.548

 

2.77%

3.24%

1.78%

 

 

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

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

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

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

 

 

UNSECURED LOANS:

 

Particulars

31.03.2017

INR In Million

31.03.2016

INR In Million

LONG TERM BORROWINGS

 

 

Term loans against guarantee of director

23.202

0.000

Unsecured loan against guarantee of director

12.766

25.516

From directors

1.500

0.000

Total

37.468

25.516

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

B44272631

10366836

UNITED BANK OF INDIA

29/06/2012

-

-

3800000.0

PRITAMNAGAR BRANCH, 32, NEW BRAHMAKSHTRIYA SOCIETYELLISBRIDGE, PRATAMNAGARAHMEDABADGJ380006IN

 

 

FIXED ASSETS:

 

  • Air conditioner
  • Car
  • Fan
  • Fire and salary instruments
  • Furniture and fixture
  • Laptop and computer
  • Mobile phones
  • Cooler purchase
  • Testing meter
  • Tooling
  • Water purifier
  • Camera
  • Software
  • Office building

 

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 63.90

UK Pound

1

INR 90.31

Euro

1

INR 80.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRI

 

 

Analysis Done by :

VIV

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.