|
|
|
MIRA INFORM REPORT
|
Report No. : |
485476 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOEHOLD TRAVEL AND PHOTOGRAPHY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Sharmadaa" No. 40., 6th Cross Road, Akshayanagar East,
Akshayanagar, Yelenahalli, Bommanahalli, Bangalore-560068, Karnataka |
|
Tel. No.: |
91-80-22442211 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
06.04.2010 |
|
|
|
|
Com. Reg. No.: |
08-053133 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.800 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900KA2010PTC053133 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GST No.: |
29AADCT4157D1ZC |
|
|
|
|
TIN No.: |
29490603616 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT4157D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Offering Photography Training,
conducting photography tours, providing holiday packages and buying, selling
and renting of photography equipment and other events related to travel
photography. [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 2010 ande it is having moderate
track. For the financial year 2017, the company has increased its revenue
from operation as compared to previous year and maintained average
profitability margin 2.28%. However, rating takes into consideration moderate financial profile of
the company marked by very low reserves level along with excess of borrowings
recorded. Rating remains constrained on account of declined in the profitability
during the year, modest liquidity position and intensely competitive nature
of the industry. Trade relations are reported to be fair. Business is active. Payment
terms are 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.
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 12.01.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-80-22442211]
LOCATIONS
|
Registered Office : |
"Sharmadaa" No. 40., 6th Cross Road, Akshayanagar East,
Akshayanagar, Yelenahalli, Bommanahalli, Bangalore-560068, Karnataka, India |
|
Tel. No.: |
91-80-22442211 |
|
Fax No.: |
91-22-22443211 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office/ Store 1 : |
#51, SGP Park View, 5th Floor, 5th Main, 36 Cross, 5th
block, Jayanagar, |
|
|
|
|
Gallery/ Store 2 : |
S-30, Lal Bahadur Shastri Road, Kamani, Kurla West, Kurla |
|
|
|
|
Store 3 : |
Unit 203, 2nd Floor, 'Tejas Eternity', Bhalewadi Phata, Baner, Pune-411045, Maharashtra, India. |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mrs. Jayanth Sharma |
|
Designation : |
Director |
|
Address : |
#40 6th Cross, Yelanahalli Road, Akshayanagar,
Bangalore-560076, Karnataka, India |
|
Date of Birth/Age : |
06.05.1980 |
|
Date of Appointment : |
06.04.2010 |
|
DIN No.: |
02288644 |
|
|
|
|
Name : |
Nagashree Magur Balakrishna |
|
Designation : |
Additional Director |
|
Address : |
40, 6 TH Cross, Akshaya Nagra Main Road Near DLF new town,
Akshya Nagara, Bangalore-560068, Karnataka, India |
|
Date of Appointment : |
07.07.2017 |
|
DIN No.: |
07365307 |
|
|
|
|
Name : |
Mr. Havenahalli Ramashastri Nagaraja Sharma |
|
Designation : |
Director |
|
Address : |
Sharmadaa, 40, 6th Cross Road, Near Ganesha Temple,
Akshayanagara East, Near DLF Newtown Begur, Bangalore-560068, Karnataka, India |
|
Date of Appointment : |
27.01.2016 |
|
DIN No.: |
07416331 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 22.09.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Jayanth Sharma |
1796000 |
99.78 |
|
Nagaraja Sharma |
4000 |
0.22 |
|
|
|
|
|
Total |
1800000 |
100.00 |
AS ON: 22.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
99.78 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
0.22 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Offering Photography Training,
conducting photography tours, providing holiday packages and buying, selling
and renting of photography equipment and other events related to travel
photography. [Registered Activity] |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the Management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Deutsche Bank AG Raheja Towers, 26-27, M.G. Road, Bangalore - 560001, Karnataka, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
MDA and Company Chartered Accountants |
|
Address : |
#48, 1st Floor, DVG Road, Basavanagudi, Bangalore-560004, Karnataka,
India |
|
Tel. No.: |
91-80-26621115 |
|
Fax No.: |
91-80-26621137 |
|
E-Mail : |
|
|
PAN No.: |
AAQFM2626N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
INR 1/- each |
INR 1.800 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
INR 1/- each |
INR 1.800 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
1.800 |
1.800 |
0.100 |
|
(b) Reserves & Surplus |
0.096 |
(1.664) |
(3.479) |
|
(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) |
1.896 |
0.136 |
(3.379) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
29.474 |
2.739 |
10.880 |
|
(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) |
29.474 |
2.739 |
10.880 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1.503 |
1.907 |
3.371 |
|
(b)
Trade payables |
8.267 |
3.201 |
4.600 |
|
(c)
Other current liabilities |
7.434 |
8.709 |
1.825 |
|
(d)
Short-term provisions |
0.221 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
17.425 |
13.817 |
9.796 |
|
|
|
|
|
|
TOTAL |
48.795 |
16.692 |
17.297 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
31.426 |
12.402 |
13.516 |
|
(ii)
Intangible Assets |
0.003 |
0.003 |
0.020 |
|
(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 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.460 |
0.473 |
0.419 |
|
(d) Long-term Loan
and Advances |
3.375 |
0.325 |
0.520 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
35.264 |
13.203 |
14.475 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.697 |
0.577 |
0.265 |
|
(c)
Trade receivables |
1.539 |
0.476 |
1.060 |
|
(d)
Cash and cash equivalents |
0.808 |
1.829 |
0.570 |
|
(e)
Short-term loans and advances |
10.487 |
0.607 |
0.927 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
13.531 |
3.489 |
2.822 |
|
|
|
|
|
|
TOTAL |
48.795 |
16.692 |
17.297 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
77.303 |
68.138 |
50.304 |
|
|
|
Other Income |
0.842 |
0.844 |
1.138 |
|
|
|
TOTAL |
78.145 |
68.982 |
51.442 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.571 |
1.141 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.000 |
0.000 |
32.586 |
|
|
|
Employees benefits expense |
12.250 |
11.365 |
11.509 |
|
|
|
Other expenses |
10.686 |
7.860 |
4.144 |
|
|
|
Direct Expenses |
44.771 |
41.125 |
0.000 |
|
|
|
TOTAL |
68.278 |
61.491 |
48.239 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
9.867 |
7.491 |
3.203 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4.573 |
2.613 |
2.930 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.294 |
4.878 |
0.273 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.220 |
3.118 |
2.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2.074 |
1.760 |
(1.730) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.314 |
(0.054) |
0.367 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1.760 |
1.814 |
(2.097) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
0.98 |
1.01 |
(20.97) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term Loans |
5.479 |
3.161 |
0.000 |
|
|
|
|
|
|
Cash flow from Operating Activities |
(5.513) |
7.782 |
NA |
|
|
|
|
|
|
Net Cash flow from Operating Activities |
(5.513) |
7.782 |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
7.27 |
2.55 |
7.69 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
50.23 |
143.15 |
47.46 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
5284.51 |
1023.98 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
14.16 |
12.98 |
12.09 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.31 |
0.60 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.07 |
1.18 |
1.20 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
19.23 |
57.40 |
(4.22) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
9.19 |
101.60 |
(2.90) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
16.58 |
91.21 |
-4.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.16 |
2.87 |
1.09 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.28 |
2.66 |
(4.17) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.61 |
10.87 |
(12.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
92.83 |
1333.82 |
62.06 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.78 |
0.25 |
0.29 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.74 |
0.21 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.04 |
0.01 |
(0.20) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
20.25 |
4.34 |
142.51 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.78 |
0.25 |
0.29 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in 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 |
0.100 |
1.800 |
1.800 |
|
Reserves & Surplus |
(3.479) |
(1.664) |
0.096 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(3.379) |
0.136 |
1.896 |
|
|
|
|
|
|
long-term borrowings |
10.880 |
2.739 |
29.474 |
|
Short term borrowings |
3.371 |
1.907 |
1.503 |
|
Current Maturities of Long
term debt |
0.000 |
3.161 |
5.479 |
|
Total
borrowings |
14.251 |
7.807 |
36.456 |
|
Debt/Equity
ratio |
(4.218) |
57.404 |
19.228 |
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 |
50.304 |
68.138 |
77.303 |
|
|
|
35.452 |
13.451 |
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 |
50.304 |
68.138 |
77.303 |
|
Profit/ (Loss) |
(2.097) |
1.814 |
1.760 |
|
|
(4.17%) |
2.66% |
2.28% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
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 |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B98571557 |
10482805 |
DEUTSCHE BANK AG |
22/01/2014 |
- |
- |
2000000.0 |
RAHEJA TOWERS26-27, M.G. ROAD,BANGALOREKA560001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From others** |
|
|
|
Bajaj Finserv |
1.485 |
0.770 |
|
Capital First Limited |
1.512 |
0.000 |
|
Edelweiss Retail Finance Limited |
0.000 |
0.664 |
|
Kotak Mahindra Loan |
1.559 |
0.319 |
|
Magma Fincorp Limited |
0.738 |
0.000 |
|
RBL Bank Limited |
1.247 |
0.000 |
|
Religare Finvest Limited – New |
14.723 |
0.268 |
|
Tata Capital Financial Services Limited |
1.767 |
0.718 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
From Related Party |
0.046 |
0.000 |
|
|
|
|
|
Total |
23.077 |
2.739 |
|
Notes LONG-TERM BORROWINGS **Business Loan above are not secured against any assets of the company. The Total Loan O/s as on March 31st is INR 28.510 Million out of which due within the year is INR 5.479 Million has been classified under “Other current liabilities” |
||
BACKGROUND
Subject was incorporated on 6th April 2010, as a private
limited company under the companies Act, 1956 in the states of Karnataka.
The company is inter alia, engaged in the business of offering
photography training, conducting photography tours, providing holiday packages
and buying, selling and renting of photography equipment and other events
related to travel photography.
REVIEW OF BUSINESS
OPERATIONS AND FUTURE PROSPECTS
The Directors are optimistic about company’s business and hopeful of
better performance with increased revenue in next year. There was no change in
the nature of business of company.
FIXED ASSETS:
Tangible Assets
·
Office Equipment
·
Computer
· Electrical Installation
·
Furniture and Fixtures
·
Camera
·
Trademark
· Leasehold Premises
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 63.74 |
|
UK Pound |
1 |
INR 86.01 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
IND |
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.