|
|
|
MIRA INFORM REPORT
|
Report No. : |
493976 |
|
Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
D J APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
508, 5 Floor, Building No 20, Samartha Vaibhav, Shree Swami, Samarth
Nagar, New Link Road, Oshiwara, Andheri (West), Mumbai – 400053, Maharashtra |
|
Tel. No.: |
91-22-42669938 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
03.06.2008 |
|
|
|
|
Com. Reg. No.: |
11-183082 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2008PTC183082 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTIN: |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCD0627Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Retail sale of refrigerators, washing machines and other electrical/electronic household goods. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
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 2008 and it is having moderate track. Management of the company has not filed its financials of 2017 with government department. For the financials year 2016, the company has registered decrease in its revenue from operations as compared to previous year and maintained minimal profitability margin of 0.60%. However, rating takes into consideration moderate financial profile of the company along with negative reserves position recorded. Further, rating constrained on account of low and volatile profitability profile inherent risk associated with business operation, excess of borrowing recorded during the year and intense competition from industry. Trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings 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.
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 23.02.2018
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. Rohan Kap |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-42669938 |
|
Date : |
23.02.2018 |
LOCATIONS
|
Registered Office : |
508, 5 Floor, Building No 20, Samartha Vaibhav, Shree Swami, Samarth
Nagar, New Link Road, Oshiwara, Andheri (West), Mumbai – 400053, Maharashtra,
India |
|
Tel. No.: |
91-22-42669938 |
|
Fax No.: |
91-22-67251834 |
|
E-Mail : |
|
|
Website: |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Store 1: |
2 and 3, Modi Niwas, S.V. Road Santacruz-(West) Mumbai – 400054, Maharashtra, India |
|
Tel. No.: |
91-22-6710 5086 / 87 / 88 / 6736 6272 / 2649 2297 |
|
|
|
|
Store 2: |
Puspagandha, Appasaheb Marathe Marg Opposite Saraswat
Bank, Prabhadevi |
|
Tel. No.: |
6617 0955, 66170956, 24318889 |
|
|
|
|
Store 1: |
1230, 26-Main Road,9th Block South End Road, Jayanagar, Bangalore - 560 011, Karnataka, India |
|
Tel. No.: |
91-80- 3200 1820 / 4120 9869 / 2653 4837 |
|
|
|
|
Store 1: |
Prabhat Arcade. No. 862, 8th Block Koramangala Extension, Bangalore - 560 095, Karnataka, India |
|
Tel. No.: |
91-80-4112 2511 / 12 |
|
|
|
|
Store 1: |
2/87, Bazulla Road, T.Nagar Opp Benz Park Hotel, Chennai - 600 017, Tamilnadu, India |
|
Tel. No.: |
91-44-4212 1014 / 24 |
|
|
|
|
Store 2: |
T-92, 3rd Avenue, Anna Nagar, Chennai - 600 040, Tamilnadu, India |
|
|
|
|
Showroom: |
Located at:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mrs. Jagruti Jayraj Pandit |
|
Designation : |
Director |
|
Address : |
16/603, Swami Samartha Prasana Oshiwara, Unit 14, Indra Dashan, Phase-I, Off Link Road, Near Lokhandwala Complex, Andheri (West), Mumbai-40005, Maharashtra, India |
|
Date of Birth/Age : |
16.08.1970 |
|
Date of Appointment : |
03.06.2008 |
|
DIN No.: |
00402674 |
|
|
|
|
Name : |
Mr. Jayraj Dilipkumar Pandit |
|
Designation : |
Director |
|
Address : |
603, 6th Floor, Building No.16, Phase-I, Indradarshan, Lokh
Complex, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1965 |
|
Date of Appointment : |
03.06.2008 |
|
DIN No.: |
02132430 |
|
|
|
|
Name : |
Mr. Rajiv Pandit |
|
Designation : |
Director |
|
Address : |
16/603, Indra Darshan 1, Next To Samarth Vaibhav Off Lokhandwala, Oshiwara, Anndheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
03.11.2017 |
|
DIN No.: |
03476975 |
|
|
|
|
Name : |
Mr. Shivakumar |
|
Designation : |
Director |
|
Address : |
A004,Chaaya, Sheetal Chaaya HSG Society, Swami Samarth Nagar, Lokhandwala Complex , Andheri, Mumbai 400053, Maharashtra, India |
|
Date of Appointment : |
03.11.2017 |
|
DIN No.: |
07975760 |
|
|
|
|
Name : |
Mr. Amol Genbhau Ghanwat |
|
Designation : |
Director |
|
Address : |
Gaon Papatwadi, Taluka Khed, Chas Khed, Pune - 410513, Maharashtra, India |
|
Date of Appointment : |
03.11.2017 |
|
DIN No.: |
07976366 |
KEY EXECUTIVES
|
Name : |
Mr. Rohan Kap |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2016
|
Names of Shareholders |
|
No. of Shares |
|
Jayraj Dilipkumar Pandit |
|
500000 |
|
Jagruti Jayraj Pandit |
|
500000 |
|
Total |
|
1000000 |
As on 16.09.2016
|
Names of Allottee |
|
No. of Shares |
|
Jagruti Jayraj Pandit |
|
250000 |
|
Total |
|
250000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retail sale of refrigerators, washing machines and other electrical/electronic household goods. (Registered Activity) |
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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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||||
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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 declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
H.P. Patel and Associates Chartered Accountants |
|
Address : |
4, Padma Society, 164, S.V. Road, Vile Parle (West), Mumbai-400056,
Maharashtra, India |
|
Tel. No.: |
91-22-23754250/26713584 |
|
Fax No.: |
91-22-23747542 |
|
Income-tax
PAN of auditor or auditor's firm : |
ABTPP4523F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
After 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
INR 10/- each |
INR 12.500 Million |
|
|
|
|
|
As on 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
(0.241) |
(2.070) |
(2.632) |
|
(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) |
9.759 |
7.930 |
7.368 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
21.257 |
21.636 |
0.000 |
|
(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) |
21.257 |
21.636 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
6.461 |
0.000 |
17.857 |
|
(b) Trade
payables |
27.975 |
26.337 |
22.918 |
|
(c) Other
current liabilities |
38.492 |
41.803 |
44.793 |
|
(d) Short-term
provisions |
2.021 |
1.936 |
3.197 |
|
Total Current
Liabilities (4) |
74.949 |
70.076 |
88.765 |
|
|
|
|
|
|
TOTAL |
105.965 |
99.642 |
96.133 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6.820 |
5.984 |
7.927 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
1.012 |
1.011 |
|
(c) Deferred tax assets (net) |
0.721 |
0.556 |
0.442 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
7.541 |
7.552 |
9.380 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
47.132 |
35.863 |
33.499 |
|
(c) Trade
receivables |
8.662 |
3.904 |
1.161 |
|
(d) Cash
and cash equivalents |
5.549 |
25.309 |
28.082 |
|
(e)
Short-term loans and advances |
37.081 |
27.014 |
24.011 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
98.424 |
92.090 |
86.753 |
|
|
|
|
|
|
TOTAL |
105.965 |
99.642 |
96.133 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
306.616 |
314.252 |
262.798 |
|
|
Other Income |
3.103 |
3.658 |
4.121 |
|
|
TOTAL |
309.719 |
317.910 |
266.919 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Finished Goods
and Material consumed |
252.964 |
255.365 |
219.486 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(11.268) |
(2.364) |
(13.821) |
|
|
Employees benefits expense |
15.884 |
13.405 |
13.549 |
|
|
Other expenses |
48.720 |
49.630 |
45.947 |
|
|
TOTAL |
306.300 |
316.036 |
265.161 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.419 |
1.874 |
1.758 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
1.553 |
1.426 |
1.698 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
1.866 |
0.448 |
0.060 |
|
|
|
|
|
|
|
Less |
TAX |
0.036 |
(0.113) |
(0.292) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1.830 |
0.561 |
0.352 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
183.00 |
56.00 |
0.35 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
10.31 |
4.53 |
1.61 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
35.40 |
80.49 |
226.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
40.36 |
37.64 |
38.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.91 |
0.92 |
0.92 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.84 |
2.73 |
2.42 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
7.68 |
8.84 |
12.05 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.70 |
0.75 |
1.08 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.60 |
0.18 |
0.13 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.73 |
0.56 |
0.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
18.75 |
7.07 |
4.78 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.31 |
1.31 |
0.98 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.68 |
0.80 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.09 |
0.08 |
0.08 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.77 |
2.16 |
1.79 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
1.31 |
1.31 |
0.98 |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Share Capital |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
(2.632) |
(2.070) |
(0.241) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
7.368 |
7.930 |
9.759 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
21.636 |
21.257 |
|
Short term borrowings |
17.857 |
0.000 |
6.461 |
|
Total
borrowings |
17.857 |
21.636 |
27.718 |
|
Debt/Equity
ratio |
2.424 |
2.728 |
2.840 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Sales |
262.798 |
314.252 |
306.616 |
|
|
|
19.579 |
(2.430) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Sales |
262.798 |
314.252 |
306.616 |
|
Profit |
0.352 |
0.561 |
1.830 |
|
|
0.13% |
0.18% |
0.60% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
No |
|
18] |
Major suppliers |
Yes |
|
19] |
Major customers |
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 |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATION AND FUTURE
OUTLOOK:
During the year the total income was INR 309.719m million as compared to INR 317.910 million in the previous year. In spite of fall in the turnover the net profits has shown a marginal increase to INR 1.830 million in the current year as compared to INR 0.561 million in the previous year. Economies of scale and reduction in marketing spend has been the contribution element for increase in the bottom line and the plans for diversification is on cards and the company has negotiated and entered into agreements with the following suppliers: 1. Gamma Decor - for Modular Kitchen and 2. Oyster Bath Concepts Private Limited, - for wellness and bath fittings.
Once these agreements are operationalised the Company would be having separate Showrooms for these items. The directors hope that with these additions the turnover of the company would enhance and thus the profitability would be increasing in the coming years.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
|
|
|
Directors Loan |
6.461 |
0.000 |
|
Total |
6.461 |
0.000 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G29565876 |
100065485 |
Karnataka Bank Ltd. |
27/10/2016 |
- |
- |
25000000.0 |
ST. ANTHONY'S INSTITUTE ANNEX BUILDING, 33RD ROAD, BANDRA (WEST), MUMBAI-400050, MAHARASHTRA, INDIA |
|
2 |
G37862828 |
10397586 |
HDFC BANK LIMITED |
31/12/2012 |
08/03/2017 |
- |
3000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI-400013, MAHARASHTRA, INDIA |
FIXED ASSETS
- Furniture and
Fixture
- Computer
- Motor Car
- Office
Equipment
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 79.94 |
|
Euro |
1 |
INR 90.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.