|
|
|
MIRA INFORM REPORT
|
Report No. : |
486922 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SPECTRUM TUBES PRIVATE LIMITED |
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|
|
Registered
Office : |
203, Hindprakash House, Plot No. 10/6 Phase-1, GIDC,
Vatva, Ahmedabad - 382445, Gujarat |
|
Tel. No.: |
91-79-39827000 |
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|
|
Country : |
India |
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|
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Financials (as on)
: |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
16.04.2012 |
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|
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Com. Reg. No.: |
04-069881 |
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Capital
Investment / Paid-up Capital : |
INR 0.100 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U52100GJ2012PTC069881 |
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IEC No.: |
Not Divulged |
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GSTIN/UIN: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AARCS3782K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· The Company is engaged in the business of trading, retailing and selling of textile grey fabric. (Registered Activity) ·
Manufacturer
and trader of steel tubes, seamless alloy steel tubes, seamless stainless tubes
and pipes. (as per memorandum of association) |
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|
|
|
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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 12000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was
incorporated in the year 2012 and it is a manufacturer and trader of steel
tubes, seamless alloy steel tubes, seamless stainless tubes and pipes. As per financials
of March 2017, the company has registered a healthy growth in its revenue but
has reported losses. Rating takes
into consideration the company’s small capital base along with unfavorable gap
between its trade payables to its trade receivables and low liquidity
position. Rating is
further constrained on account of company’s presence in huge working capital
requirement and highly competitive steel industry. However,
ratings weakness is partially offset by sound net worth base of the company. Payments are
reported to be slow but correct. In view of
aforesaid, the company can be considered for business dealings with some
caution. Note: As claimed
by Mr. Hetal Shah (Accounts Manager), the company name has been changed to
“Shankar Global Private Limited” from “Hindprakash International Private
Limited” in the year 2014 but later on 3rd August 2017 “Shankar Global
Private Limited” has been amalgamated with “Spectrum Tube Private Limited”. |
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 |
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 23.01.2018
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. Hetal Shah |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-79-39827000 |
|
Date : |
19.01.2018 |
LOCATIONS
|
Registered Office : |
203, Hindprakash House, Plot No. 10/6, Phase-I , GIDC, Vatva, Ahmedabad-
382445, Gujarat, India |
|
Tel. No.: |
91-79-39827000 |
|
Fax No.: |
91-79-39827100 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Ms. Dimple Sanjayprakash Mangal |
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Designation : |
Director |
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Address : |
21, Ashwavilla Bunglows, Sindhubhavan Road,Thaltej,
Ahmedabad – 380059, Gujarat, India |
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|
Date of Appointment : |
01.09.2016 |
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DIN No.: |
02541905 |
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Other Directorship:
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||||||||||||||||||||||||||||||||
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Name : |
Mr. Sanjay Prakash Mangal |
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Address : |
201, Shree Radhey Apartments, opposite Atlanta Tower, Gulbai Tekra,
Ahmedabad – 380015, Gujarat,
India |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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Date of Birth/Age : |
15.05.1972 |
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Date of Appointment : |
09.11.2011 |
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DIN No.: |
02825484 |
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Voter Id No.: |
IIE0977474 |
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Other
Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Hetal Shah |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Sanjay Prakash Mangal |
5000 |
50.00 |
|
Dimple Mangal |
5000 |
50.00 |
|
Total |
10000 |
100.00 |
AS ON 25.09.2017
|
Names of Allotee (Equity Shares) |
No. of Allotee |
|
Sanjay Prakash |
1882590 |
|
Dimple Sanjay Prakash Mangal |
1847853 |
|
Santosh N. Nambiar |
2600 |
|
Radhika S. Mangal |
158498 |
|
Priyata S. Mangal |
162492 |
|
Prakashchand Jian |
2652 |
|
Vipinprakash |
14690 |
|
Hemlata Mangal |
1870377 |
|
V P S P Mangal |
16250 |
|
Om Prakash Mangal |
1736495 |
|
Omprakash and sons |
454688 |
|
Veedant S. Mangal |
1425736 |
|
Total |
9574921 |
|
Names of Allotee (Cumulative Preference shares) |
No. of Allotee |
|
Sanjay Prakash |
144816 |
|
Dimple Sanjay Prakash Mangal |
142142 |
|
Santosh N. Nambiar |
200 |
|
Radhika S. Mangal |
12192 |
|
Priyata S. Mangal |
12499 |
|
Prakashchand Jian |
204 |
|
Vipinprakash |
1130 |
|
Hemlata Mangal |
143875 |
|
V P S P Mangal |
1250 |
|
Om Prakash Mangal |
133576 |
|
Omprakash and sons |
34976 |
|
Veedant S. Mangal |
109672 |
|
Total |
736532 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2018
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
100.000 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· The Company is engaged in the business of trading, retailing and selling of textile grey fabric. (Registered Activity) ·
Manufacturer
and trader of steel tubes, seamless alloy steel tubes, seamless stainless
tubes and pipes. (as per memorandum of association) |
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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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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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Auditors : |
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|
Name : |
Kedia and Kedia Associates Chartered Accountants |
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Address : |
205, Kaling, 2nd Floor, Near Mount Carmel School, B/H B. J.
House, off Ashram Road, Ahmedabad, Gujarat-380009, India |
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Tel. No.: |
91-79-26579971 |
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Fax No.: |
91-79-26579971 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFK7236R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprise over
which Key Management Personnel exercise significant influence: |
· Hindprakash Lonsen Industries Private Limited · Hindprakash Overseas Private Limited · Hindprakash Tradelink Private Limited · Hindprakash Corporation Private Limited · Shanker Global Private Limited · Ahmedabad Chemical Private Limited · Laxmi Alutrade Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
|
|
|
|
|
AS ON 25.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10360000 |
Equity Shares |
INR 10/- each |
INR 103.600 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10321453 |
Equity Shares |
INR 10/- each |
INR 103.214 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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves &
Surplus |
304.549 |
0.325 |
(0.308) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
103.114 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
407.763 |
0.425 |
(0.208) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.286 |
0.446 |
|
(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 |
0.186 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.186 |
0.286 |
0.446 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.235 |
0.029 |
0.016 |
|
(c) Other current
liabilities |
0.028 |
0.000 |
0.000 |
|
(d) Short-term provisions |
0.074 |
0.119 |
0.000 |
|
Total Current Liabilities
(4) |
0.337 |
0.148 |
0.016 |
|
|
|
|
|
|
TOTAL |
408.286 |
0.859 |
0.254 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.000 |
0.000 |
0.000 |
|
(ii) Intangible Assets |
69.384 |
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 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.088 |
0.051 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
75.472 |
0.051 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
111.724 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
0.834 |
0.019 |
0.180 |
|
(e) Short-term loans and
advances |
156.855 |
0.789 |
0.074 |
|
(f) Other current assets |
63.401 |
0.000 |
0.000 |
|
Total Current Assets |
332.814 |
0.808 |
0.254 |
|
|
|
|
|
|
TOTAL |
408.286 |
0.859 |
0.254 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
140.192 |
0.850 |
0.000 |
|
|
Other Income |
14.673 |
0.000 |
0.000 |
|
|
TOTAL |
154.865 |
0.850 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
129.004 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
1.944 |
0.000 |
0.000 |
|
|
Other expenses |
8.737 |
0.013 |
0.054 |
|
|
TOTAL |
139.685 |
0.013 |
0.054 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
15.180 |
0.837 |
(0.054) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.006 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
15.180 |
0.831 |
(0.054) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.346 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(2.166) |
0.831 |
(0.054) |
|
|
|
|
|
|
|
Less |
TAX |
0.007 |
0.198 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(2.173) |
0.633 |
(0.054) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(217.36) |
63.34 |
(5.42) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
290.88 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.25 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.66 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.22 |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.00 |
0.51 |
1.82 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.67 |
(2.14) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.00 |
0.35 |
(0.08) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.17 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
139.50 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(1.55) |
74.47 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(0.53) |
73.69 |
(21.26) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(0.53) |
148.94 |
25.96 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
987.58 |
5.46 |
15.88 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
987.58 |
5.46 |
15.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
1.00 |
0.49 |
-0.82 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
2.86 |
4.46 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
987.58 |
5.46 |
15.88 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
(0.308) |
0.325 |
304.549 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
103.114 |
|
Net worth |
(0.208) |
0.425 |
407.763 |
|
|
|
|
|
|
long-term borrowings |
0.446 |
0.286 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.446 |
0.286 |
0.000 |
|
Debt/Equity ratio |
(2.144) |
0.673 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
|
Sales |
0.850 |
140.192 |
|
|
16,393.176 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
|
Sales |
0.850 |
140.192 |
|
Profit/(Loss) |
0.633 |
(2.173) |
|
|
74.47% |
(1.55)% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
SCHEME OF
ARRANGEMENT:
The Hon’ble National Company Law Tribunal, Ahmedabad Bench has sanctioned the Modified Composite Scheme of Arrangement involving demerger, Amalgamation and Restructure of Share Capital between Shanker Global Private Limited, Spectrum Tubes Private Limited, Hindprakash Corporation Private Limited and Laxmi Alutrade Private Limited vide order dated 3rd August, 2017 and the said scheme has become effective upon filing of the orders of NCLT on 2nd September, 2017 from the appointed date i.e. 1st April, 2016 . By virtue of the same, Trading Undertaking of M/s. Shanker Global Private Limited has been demerged and transferred on going concern basis with your company. Further, pursuant to the sanctioned scheme, the object clause of the Company has been modified/ amended in order to carry on the business of demerged company.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and
advances from related parties |
0.000 |
0.286 |
|
Total |
0.000 |
0.286 |
INDEX OF CHARGE: No Charges Exists for Company
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- Computer software
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 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 63.84 |
|
|
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRI |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
NKTS |
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.