|
|
|
MIRA INFORM REPORT
|
Report No. : |
490473 |
|
Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BVG CLEAN TECHNOLOGIES LIMITED (w.e.f. 25.08.2011) |
|
|
|
|
Formerly Known
As : |
BVG
WASTE MANAGEMENT LIMITED |
|
|
|
|
Registered
Office : |
10, Devika Heights, Shivajinagar, Pune – 411005, Maharashtra |
|
Tel. No.: |
91-20-27464220 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
07.07.2005 |
|
|
|
|
Com. Reg. No.: |
11-020986 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U90001PN2005PLC020986 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB04600B |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB6697D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
(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 2005 and it is having moderate
track. It is part of BVG Group. Group having activities in facility
management services, emergency response services, clean-tech, clean energy,
food-park, animal and plant nutrition, solar park, and life science. Management of the company has not filed its financial with the
government department for the year 2017. As per available financials of 2016, the company has shown very modest
revenue from operation and reported losses. Rating takes into consideration moderate financial risk profile of the
company marked by huge accumulated losses registered which has resulted into
erosion of its entire networth. Further, rating is constrained on account of modest scale of revenue profile,
continuously incurring losses from last few years and low liquidity position
of the company. However, this weakness is partially offset by its strong group
support, reputed client base and extensive experience of its promoters. Payments are seems to be slow but correct. 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.
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 24.02.2018
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. Kedar Kulkarni |
|
Designation : |
AGT Manager |
|
Contact No.: |
91-20-27464220 / 91-7744081872 |
|
Date : |
07.02.2018 |
LOCATIONS
|
Registered/ Corporate Office : |
10, Devika Heights, Shivajinagar, Pune-411005, Maharashtra, India |
|
Tel. No.: |
91-20-27464220 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mrs. Vaishali Hanmantrao Gaikwad |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
250, Kawade Nagar, New Sanghvi, Pune-411027, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.01.1975 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.07.2005 |
||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
01597289 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Umesh Gautam Mane |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
55/1, Kawade Nagar, Devkar Road, New Sangvi, Pune-411027, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.08.1970 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.07.2005 |
||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
01597365 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Hanmantrao Gaikwad |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
250, Kawade Nagar, New Sanghvi, Pune-411027, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.10.1972 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
07.07.2005 |
||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
01597742 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Kedar Kulkarni |
|
Designation : |
AGT Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Hanmantrao Gaikwad |
|
18467 |
|
Umesh Mane |
|
6147 |
|
Vaishali Gaikwad |
|
5208 |
|
Mohini Mane |
|
1 |
|
Vikram Wagh |
|
7414 |
|
Pandurang Yadav |
|
1 |
|
Dattatray Gaikwad |
|
7940 |
|
Maruti Shinde |
|
448 |
|
Sarang Patil |
|
448 |
|
Udaysingji Deshmukh |
|
224 |
|
Suyash Outsourcing Private Limited |
|
560 |
|
Alagappan Murugappan |
|
281 |
|
Deelip Madgavakar |
|
39 |
|
Minal Mehta |
|
11 |
|
R Ramchandran |
|
420 |
|
Connect Securities & Finance Private Limited |
|
866 |
|
Antique Securities Private Limited |
|
739 |
|
P. C. Jhaveri |
|
317 |
|
Dhanpal Jhaveri |
|
39 |
|
Inland Financial Services Private Limited |
|
430 |
|
|
|
|
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on 16.09.2016
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
74.48 |
|
Public – (Individual/ Hindu
Undivided Family – Indian) |
20.33 |
|
Public - Bodies corporate |
5.19 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
(Registered activity) |
||||||
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Products : |
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||||||
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||||||
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Brand Names : |
Not Divulged |
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||||||
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Agencies Held : |
Not Divulged |
||||||
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||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
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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|
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
|
|
Auditors : |
|
|
Name : |
S. Gautam and Associates Chartered Accountants |
|
Address : |
#25, 'B' Wing (Rear), 1st Flooer, Kamala Crossroads, Opposite PCMS Building,
Pimpri, Pune-411038, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABLFS5656G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Party : |
BVG India Limited |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
INR 10/- each |
INR 2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500 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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
(91.925) |
(85.425) |
(78.888) |
|
(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) |
(91.425) |
(84.925) |
(78.388) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
105.505 |
89.505 |
42.505 |
|
(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) |
105.505 |
89.505 |
42.505 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
5.069 |
0.694 |
0.564 |
|
(c) Other current liabilities |
3.888 |
12.850 |
49.273 |
|
(d) Short-term provisions |
0.173 |
0.265 |
0.402 |
|
Total
Current Liabilities (4) |
9.130 |
13.809 |
50.239 |
|
|
|
|
|
|
TOTAL |
23.210 |
18.389 |
14.356 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.466 |
1.685 |
1.682 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
2.475 |
2.475 |
2.379 |
|
(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) |
3.837 |
4.068 |
4.064 |
|
(d) Long-term Loan and Advances |
4.849 |
4.848 |
4.849 |
|
(e) Other Non-current assets |
0.042 |
0.089 |
0.144 |
|
Total
Non-Current Assets |
12.669 |
13.165 |
13.118 |
|
|
|
|
|
|
(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 |
0.011 |
0.011 |
|
(d) Cash and cash equivalents |
0.049 |
0.252 |
0.098 |
|
(e) Short-term loans and
advances |
10.492 |
4.931 |
1.091 |
|
(f) Other current assets |
0.000 |
0.030 |
0.038 |
|
Total
Current Assets |
10.541 |
5.224 |
1.238 |
|
|
|
|
|
|
TOTAL |
23.210 |
18.389 |
14.356 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
0.080 |
1.330 |
2.122 |
|
|
Other Income |
0.000 |
0.028 |
1.146 |
|
|
TOTAL
|
0.080 |
1.358 |
3.268 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.387 |
0.928 |
0.351 |
|
|
Employees benefits expense |
2.358 |
2.726 |
4.172 |
|
|
Other expenses |
2.644 |
3.897 |
4.025 |
|
|
TOTAL |
5.389 |
7.551 |
8.548 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(5.309) |
(6.193) |
(5.280) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.721 |
0.005 |
0.001 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(6.030) |
(6.198) |
(5.281) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.237 |
0.324 |
0.275 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(6.267) |
(6.522) |
(5.556) |
|
|
|
|
|
|
|
Less |
TAX |
0.232 |
(0.004) |
0.010 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(6.499) |
(6.518) |
(5.566) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(129.99) |
(130.35) |
(111.32) |
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 |
(18.324) |
(46.398) |
38.780 |
|
Net cash flow from operating activity |
(18.324) |
(46.398) |
38.780 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
0.00 |
3.02 |
1.89 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.00 |
120.91 |
192.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
4780.84 |
272.96 |
586.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(1.35) |
(1.49) |
(1.30) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
4.94 |
5.62 |
6.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(1.15) |
(1.05) |
(0.54) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(0.10) |
(0.16) |
(0.64) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(0.04) |
(0.05) |
(0.05) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(7.36) |
(1238.60) |
(5280.00) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(8123.75) |
(490.08) |
(262.30) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(28.00) |
(35.45) |
(38.77) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
7.11 |
7.68 |
7.10 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.15 |
0.38 |
0.02 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.15 |
0.38 |
0.02 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(3.94) |
(4.62) |
(5.46) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
211.01 |
179.01 |
85.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.15 |
0.38 |
0.02 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
(78.888) |
(85.425) |
(91.925) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(78.388) |
(84.925) |
(91.425) |
|
|
|
|
|
|
Long Term borrowings |
42.505 |
89.505 |
105.505 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
42.505 |
89.505 |
105.505 |
|
Debt/Equity
ratio |
(0.542) |
(1.054) |
(1.154) |
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
|
2.122 |
1.330 |
0.080 |
|
|
|
(37.323) |
(93.985) |
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
|
2.122 |
1.330 |
0.080 |
|
Profit |
(5.566) |
(6.518) |
(6.499) |
|
|
(262.30%) |
(490.08%) |
(8123.75%) |
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 |
No |
|
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 |
REVIEW OF BUSINESS
OPERATIONS
The Directors wish to present the details of Business operations done during the year:
a. Production and Profitability:
During the year the company has suffered a loss of INR 6.499 Million as compared to loss suffered in the previous year of INR 6.518Million due to the expenses incurred on various activities to develop the processes carrying on by the Company.
b. Sales
The Company has not yet started its commercial production.
c. Marketing and Market Environment:
The Company is making efforts to start its commercial production and to generate new Customers and penetrate into new markets.
FUTURE OUTLOOK
The board is exploring the business opportunities and possibilities of revenue generation in the next financial year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from Related Parties: |
|
|
|
From Directors, their Relatives and Shareholders |
92.505 |
88.505 |
|
From Others |
13.000 |
1.000 |
|
Total |
105.505 |
89.505 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Electrical Installation
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 65.04 |
|
|
1 |
INR 90.41 |
|
Euro |
1 |
INR 79.83 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
PRD |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.