|
|
|
MIRA INFORM REPORT
|
Report No. : |
493823 |
|
Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
MULKANUR CO-OPERATIVE RURAL BANK AND MARKETING SOCIETY LIMITED |
|
|
|
|
Registered
Office : |
Mulkanoor Village, Bheemadevarapally Mandal, Karimnagar
District – 505471, Telangana |
|
Mobile No.: |
91-9440800652 (Mr. Rama Reddy) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
Not Divulged |
|
|
|
|
Year of
Establishment : |
1952 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Society |
|
|
|
|
Line of Business
: |
Trader of
crops and also engaged in buying of crops, and providing loan on behalf of marketing
for crops and seller of fertilizers, seeds, and pesticides. [Confirmed by management] |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 4500 (IN INR 291217.50) |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
"Mulkanur Co- Operative Rural Bank and Marketing Society Limited was founded by Mr. A.K. Vishwanatha Reddy located at Mulkanoor, Dist Karimnagar, and Andhra Pradesh. Presently the society has 7356 members and operates in 14 villages Mulkanoor, Mutharam, Bheemadevarapally, Gatlanarsingapoor, Kothapally, Errabelly, Gopalpoor, Jeelugula, Koppur, Vangara, Rathnagiri, Mallaram, Kothakonda, Musthafapoor. The subject was established in the year 1952. It is a trader of Crops and also engaged in buying of Crops, and providing Loan on behalf of Marketing for Crops and seller of Fertilizers, Seeds, and Pesticides. Mr. Rama Reddy (Manager) has provided general information. The society has taken up various welfare schemes as and when there is a need to benefit the member farmers such as, Electrification of villages, society as invested in debentures with electricity board so that these villages are electrified much before than the surrounding villages, Providing drinking water by digging bore well in villages when there was continuous drought, Counseled the eligible couple for family planning when there is no awareness about it, Conducting member health camps (eye / physiotherapy / Heart / Neuro), Conducting animal health camps in villages in coordination Government veterinary doctors, Liaison with NGO organizations to provide clean drinking water by installing deflouride plants in the villages. As per indirect sources, the annual turnover of the society is INR 15.677 million for the financial year 2017 (which could not be verified). Business is active. Payments seems to be usually correct. In view of aforesaid, the trust can be considered for business dealings at usual trade terms and conditions. Note: with
site visit will follow soon. |
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
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rama Reddy |
|
Designation : |
Manager |
|
Contact No.: |
91-9440800652 |
|
Date : |
24.02.2018 |
LOCATIONS
|
Registered Office / Warehouse: |
Mulkanoor Village, Bheemadevarapally Mandal, Karimnagar
District – 505471, Telangana, India |
|
Tel. No.: |
91-8727- 248222/842/241 |
|
Mobile No.: |
91-9440800652 (Mr. Rama Reddy) 91-9440800658 (Mr. Venkatesh Rao) |
|
Fax No.: |
91-82727- 248221 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
MANAGEMENT
|
Name : |
Sri. Aligireddy Praveen Reddy |
|
Designation : |
President |
|
|
|
|
Name : |
Sri. Barpati Eswaraiah |
|
Designation : |
Vice President |
|
|
|
|
Name : |
Sri. Sanga Sampath |
|
Designation : |
Director |
|
|
|
|
Name : |
Smt. Nagula Sridevi |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri. Chittampelli Kumar Swamy |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri. Kasam Ramesh |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri. Kaneboina Rajaiah |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri. Kancharla Subash |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri. Koyada Janardhan |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri Nalla Veera Reddy |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri Guglothu Srinivas |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri Gudikandula Shankaraiah |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri. Vuradi Bharathi |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri. Tallapelly Sadanandam |
|
Designation : |
Director |
|
|
|
|
Name : |
Jodumunthala Venkataswamy |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Rama Reddy |
|
Designation : |
Manager |
BUSINESS DETAILS
|
Line of Business : |
Trader of
crops and also engaged in buying of crops, and providing loan on behalf of
marketing for crops and seller of fertilizers, seeds, and pesticides. [Confirmed by management] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Membership : |
Not Available |
|
|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
INR Million]
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
15.677 |
Note: Above information has been taken from indirect
source.
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
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 |
No |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
No |
|
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 |
PROFILE
Prior to the formation of Mulkanoor Cooperative Rural Bank and Marketing Society Limited (MCRB) in 1956 the farmers of (14) villages in the area of the society were suffered with many problems in raising crops and marketing their produce.
The farmers mostly depended on the rainfall to raise the crops. The lands in this area were covered with hillocks, poor soils, and lack of irrigation facilities. The farmers do not have access to finance, availability of input supply remunerative price for their produce were the problems of the farmers.
Under these circumstances Sri A.K. Vishwanatha Reddy a local agriculturist had selected (14) villages, conducted meetings of farmers and explained to them about the advantage of working together in a Cooperative endeavor for their prosperity.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
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.