|
|
|
MIRA INFORM REPORT
|
Report No. : |
486936 |
|
Report Date : |
22.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
R.L. FINE CHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“RLFC House" Plot No C-10, 1st Cross, KSSIDC Industrial Area, Yelahanka, New Town, Bangalore – 560064, Karnataka |
|
Tel. No.: |
91-80-42488999 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
02.08.2011 |
|
|
|
|
Com. Reg. No.: |
08-059846 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.627 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100KA2011PTC059846 |
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|
|
IEC No.: |
Not Divulged |
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GSTIN No.: |
Not Divulged |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
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PAN No.: [Permanent Account No.] |
AAFCR4326L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
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Line of Business
: |
The
company is engaged manufacturing of Active Pharmaceutical Ingredients (API),
Bulk Drugs and Fine Chemicals. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
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 773000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company incorporated in the year 2011 having
satisfactory track. For the financial year ended 2017, the company has witnessed a
significant growth in its revenue by 946.47% (approximately). However,
reported loss from its operational activities. The rating takes into consideration company’s improving scale of
business operation along with healthy networth base and favorable gap between
trade payables to its trade receivables. The rating strength is partially offset by excess of borrowings
recorded by the company. 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 b considered for business dealings
at usual trade terms and conditions. |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 22.01.2018
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 DENIED BY
|
Name : |
Mr. Rohit |
|
Designation : |
Finance Department |
|
Contact No.: |
91-80-42488999 |
|
Date : |
19.01.2018 |
LOCATIONS
|
Registered Office : |
“RLFC House" Plot No C-10, 1st Cross, KSSIDC Industrial
Area, Yelahanka, New Town, Bangalore – 560064, Karnataka, India |
|
Tel. No.: |
91-80-42488999 |
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Fax No.: |
91-80-28566630 |
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E-Mail : |
|
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Website : |
|
|
Location : |
Owned |
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Locality : |
Industrial |
|
|
|
|
Corporate Office: |
“RLFC House" Plot No C-10, 1st Cross, KSSIDC Industrial
Area, Yelahanka, New Town, Bangalore – 560064, Karnataka, India |
|
|
|
|
Factory: |
Plot No. JP -27-29, Industrial Area, 1st Phase, Gauribidanur,
Chikkaballapur – 561208, Karnataka, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sadananda Thimma Poojary |
|
Designation : |
Director |
|
Address : |
No 64, 1st A Main, 3rd Cross, BTM Layout, Bangalore –
576076, Karnataka, India |
|
Date of Appointment : |
26.08.2016 |
|
DIN No.: |
03642316 |
|
|
|
|
Name : |
Mr. Lalit Rai |
|
Designation : |
Director |
|
Address : |
Row House No. 06, Hermes Heritage, Phase I, Shastri Nagar,
Yerwada, Pune -411006, Maharashtra, India |
|
Date of Appointment : |
26.08.2016 |
|
DIN No.: |
07480522 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% |
|
Trishna Roy |
10000 |
16.00 |
|
Tanushree Roy |
10000 |
16.00 |
|
Sumitra Roy |
6000 |
10.00 |
|
Anjan K Roy |
6000 |
10.00 |
|
Mape Pharma Science LLP, India |
11419 |
18.00 |
|
Chandrapore Estates Private Limited |
19326 |
30.00 |
|
Total |
62745 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
company is engaged manufacturing of Active Pharmaceutical Ingredients (API),
Bulk Drugs and Fine Chemicals. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
Note: LONG TERM BORROWINGS * Terms: The principal amount of facility is repayable in 20 quarterly
installments starting from December 2016. The interest rate on this is loan
is presently 13.50% per annum payable monthly. Security: The rupee terms loan with Nomura Capital (India) Private Limited and
Tata Capital Financial Services Limited are secured by first ranking
mortgage/charge/security interest: a) Pledge of shares and compulsory convertible debentures (CCD’s) held
by “Mape PharmaScience LLP” and “Chandrapore Estate Private Limited”. b) Equitable mortgage all immovable fixed assets of the borrower
including land parcel at Hindupur, Gowribidanur and Dabaspet. c) All moveable fixed assets including the assets acquired under the
slump sale including patents, license, trademark, DMFs, etc. and rights over
all contract and account of borrower. d) Second charge on current assets to the extent such current assets
are charge for the permitted working capital debt othe wise first charge on
such current assets of the borrower. SHORT TERM BORROWINGS *The company has availed working capital borrowing from RBL Bank
Limited for the purpose letter of credit, bank guarantee, export pre/post
shipment, invoice financing cash credit, and LOU for buyer’s credit facility
to company. It is repayable on demand and secured by exclusive first
immovable fixed assets (present and future) of the Company. **The company is paying interest at the rate of 1 year Marginal cost
lending rate (MCLR) + 1.65% p.a. Currently 1 year MCLR is 9.85% (9.85% + 1.65%
= 11.50%). ***The company is paying commission of 1% of per annum. |
|
Auditors : |
|
|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
Maruthi Info-Tech Centre, 11-12/1 Inner Ring Road Kormangala, Bangalore – 560071, Karnataka, India |
|
Tel. No.: |
91-80-71347000 |
|
Fax No.: |
91-80-71347999 |
|
PAN No.: |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Enterprises where key managerial personel are interested : |
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Other Related Parties: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
62745 |
Equity Shares |
INR 10/- each |
INR 0.627 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 |
0.627 |
0.320 |
0.320 |
|
(b) Reserves &
Surplus |
269.785 |
3.755 |
(12.409) |
|
(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) |
270.412 |
4.075 |
(12.089) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1820.332 |
504.224 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.779 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
220.119 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1820.332 |
505.003 |
220.119 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
245.718 |
0.000 |
0.000 |
|
(b) Trade payables |
283.027 |
25.445 |
19.808 |
|
(c) Other current
liabilities |
409.155 |
27.603 |
4.543 |
|
(d) Short-term provisions |
7.737 |
1.378 |
0.000 |
|
Total Current Liabilities
(4) |
945.637 |
54.426 |
24.351 |
|
|
|
|
|
|
TOTAL |
3036.381 |
563.504 |
232.381 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
580.304 |
76.341 |
75.570 |
|
(ii) Intangible Assets |
961.474 |
16.000 |
20.000 |
|
(iii) Capital
work-in-progress |
372.849 |
351.176 |
93.547 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
154.074 |
21.106 |
0.000 |
|
(e) Other Non-current
assets |
0.071 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2068.772 |
464.623 |
189.117 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
357.020 |
10.650 |
0.000 |
|
(c) Trade receivables |
424.987 |
58.340 |
2.884 |
|
(d) Cash and cash
equivalents |
11.829 |
0.116 |
2.689 |
|
(e) Short-term loans and
advances |
124.281 |
29.575 |
37.691 |
|
(f) Other current assets |
49.492 |
0.200 |
0.000 |
|
Total Current Assets |
967.609 |
98.881 |
43.264 |
|
|
|
|
|
|
TOTAL |
3036.381 |
563.504 |
232.381 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
919.789 |
87.894 |
5.874 |
|
|
Other Income |
39.263 |
0.082 |
0.000 |
|
|
TOTAL |
959.052 |
87.976 |
5.874 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
564.390 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(222.598) |
0.000 |
0.000 |
|
|
Employees benefits
expense |
127.731 |
28.546 |
12.758 |
|
|
Other expenses |
242.003 |
32.211 |
4.489 |
|
|
TOTAL |
711.526 |
60.757 |
17.247 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
247.526 |
27.219 |
(11.373) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
168.841 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
78.685 |
27.219 |
(11.373) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
101.157 |
4.451 |
0.068 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(22.472) |
22.768 |
(11.441) |
|
|
|
|
|
|
|
Less |
TAX |
(0.575) |
6.604 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(21.897) |
16.164 |
(11.441) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(434.06) |
505.12 |
(357.51) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
242.270 |
0.000 |
NA |
|
Cash flow from (used in) operations |
(178.864) |
(23.738) |
NA |
|
Net cash used in operating activities |
(181.828) |
(28.185) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
168.65 |
242.27 |
179.21 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
2.16 |
1.51 |
2.04 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
183.04 |
NA |
NA |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.69 |
2.56 |
NA |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.13 |
0.06 |
(0.06) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.99 |
0.99 |
0.10 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
8.54 |
123.74 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.50 |
13.36 |
(2.01) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
7.08 |
108.84 |
(15.64) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.47 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
(2.38) |
18.39 |
(194.77) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(0.72) |
2.87 |
(4.92) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(8.10) |
396.66 |
94.64 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.02 |
1.82 |
1.78 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.65 |
1.62 |
1.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.09 |
0.01 |
-0.05 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3681.53 |
1575.70 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.02 |
1.82 |
1.78 |
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 |
0.320 |
0.320 |
0.627 |
|
Reserves & Surplus |
(12.409) |
3.755 |
269.785 |
|
Net
worth |
(12.089) |
4.075 |
270.412 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
504.224 |
1820.332 |
|
Short Term borrowings |
0.000 |
0.000 |
245.718 |
|
Total
borrowings |
0.000 |
504.224 |
2308.320 |
|
Debt/Equity
ratio |
0.000 |
123.736 |
8.536 |
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
|
5.874 |
87.894 |
919.789 |
|
|
|
1396.323 |
946.475 |
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
|
5.874 |
87.894 |
919.789 |
|
Profit/
(Loss) |
(11.441) |
16.164 |
(21.897) |
|
|
(194.77%) |
18.39% |
(2.38%) |
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 |
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 |
BACKGROUND:
Subject was incorporated on 02 august 2011. The objective of the Company
is manufacture Active Pharmaceutical Ingredients (API) in India the head office
of the Company is in Bangalore.
On 24th August 2016, the Company acquired the basis of RL Fine
Chem (‘the Sole Proprietorship’ or ‘RFC’) and Ray Chemicals Private Limited
(‘RCPL’) on a slump sale basis RFC and RCPL were in the business of
manufacturing Bulk Drug and Fine Chemicals for the purpose of commercial and
industrial use. The Company has API manufacturing plants and Research and
Development Centre situated at Bangalore. The Company is engaged in manufacturing of API specializing
central nervous system as well as cardiovascular system molecules. The Company
is and United States Food and Drug Administration approved, Japanese
Pharmaceuticals and Medical Devices Agency Certified, WHO-GMP, Having COS, ISO
9001 Certified, Manufacturing Products as per ICH Q7 Guideline and their
R&D is approved by DSIR New Delhi, India.
During the year ended 31st March, 2017, the Company had issued 16314 compulsorily convertible debentures with a face value of INR 9375 each to Mape PharmaScience LLP and 27608 compulsorily convertible debentures with a face value of INR 9375 each to Chandrapore Estate Private Limited.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Debentures |
|
|
|
43922 0.1% Compulsorily Convertible Debentures of INR 0.009 each |
411.769 |
0.000 |
|
Loan from Related
Parties |
|
|
|
Anjan K Roy ** |
113.179 |
504.224 |
|
Chandrapore Estate Private Limited# |
144.994 |
0.000 |
|
Mape Securities Private Limited# |
32.420 |
0.000 |
|
Jacob Mathew # |
20.000 |
0.000 |
|
Ray Chemicals Private Limited# |
49.500 |
0.000 |
|
Total |
771.862 |
504.224 |
|
Note: **The Company is paying interest on unsecured loan from Mr. Anjan K
Roy w.e.f. 25 August 2016 at a rate of 13% p.a. the loan is repayable based on
mutually agreed terms. The company intends to repay this beyond 12 months
from the balance sheet date. # the Company had obtained unsecured interest free loan from related
parties. These loans are repayable based on mutually agreed terms. The
company intends to repay these beyond 12 months from the balance sheet
date. |
||
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G33925900 |
100056649 |
RBL BANK LIMITED |
29/09/2016 |
11/01/2017 |
300000000.0 |
SHAHUPURI, KOLHAPUR-416001, MAHARASHTRA, INDIA |
|
2 |
G48148779 |
100050892 |
IDBI TRUSTEESHIP SERVICES LIMITED |
23/08/2016 |
15/06/2017 |
1400000000.0 |
ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI – 400001, MAHARASHTRA, INDIA |
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Furniture and Fittings
- 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
|
INR |
|
US Dollar |
1 |
INR 63.72 |
|
|
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
GEET |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.