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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

512243

Report Date :

01.06.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ASHIT PACKAGING PRIVATE LIMITED

 

 

Formerly Known As :

ASHIT INVESTMENTS PRIVATE LIMITED

 

 

Registered Office :

109 Diamond Industrial, Western Express Highway, Goregaon [East], Mumbai-400063, Maharashtra

Tel. No.:

91-22-28757209

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

04.06.1982

 

 

Com. Reg. No.:

11-027318

 

 

Capital Investment / Paid-up Capital :

INR 2.000 Million

 

 

CIN No.:

[Company Identification No.]

U65990MH1982PTC027318

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TIN No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACA3358G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

·         Manufacturer and Exporter of Corrugated Boxes, Multi Colour, Printed Cartons, Packaging Boxes, etc. [Confirmed by Management]

 

·         Manufacturing of Corrugated Boxes and Related Packing Items. [Registered Activity]

 

 

No. of Employees :

Not Divulged

 

 

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 1982 and it is having moderate track.

 

For the financials year 2017, the company has registered decrease in its revenue from operations as compared to previous year and reported losses.

 

Rating takes into consideration moderate financial risk profile of the company marked by small networth base and liquidity position.

 

Further, rating constrained on account of continuously incurring losses from last 3 years of business operations, modest along with deteriorating scale of revenue profile and intense competition from the industry.

 

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 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

 

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 31-03-2018.

 

 

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 01.06.2018.

 

 

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 [PARTIAL DETAILS]

 

Name :

Mr. Ashit Popatlal Vadhani

Designation :

Director

Contact No.:

91-9821020913

Date :

30.05.2018

 

 

LOCATIONS

 

Registered Office/ Factory :

109 Diamond Industrial, Western Express Highway, Goregaon [East], Mumbai-400063, Maharashtra, India

Tel. No.:

91-22-28757209/ 28934614/ 3744

Mobile No.:

91-9821020913 [Mr. Ashit Popatlal Vadhani]

Fax No.:

91-22-28757136

E-Mail :

dsolanki@mtnl.net.in

Location :

Owned

Locality :

Commercial

 

 

Factory :

Survey No 725/1 & 2, 713/1/2/3, Block A, Sai Dham Industrial Complex, Behind National House, Somnath Road, Dhabel, Nani Daman-396210, ‎Daman and Diu (U.T.), India

Tel. No.:

91-260-2242331/ 2244277

 

 

DIRECTORS

 

AS ON: 31.03.2017

 

Name :

Mr. Anil Manilal Kinariwala

Designation :

Director

Address :

79/12, Vasati Bhuvan, Ashok Nagar, Road No.4, Kandiwali (E), Mumbai-400101, Maharashtra, India

Date of Appointment :

02.12.1998

DIN No.:

00422823

 

 

Name :

Mr. Ashit Popatlal Vadhani

Designation :

Director

Address :

301, Ramniwas, Painagar, Borivali (W), Mumbai-400092, Maharashtra, India

Date of Appointment :

04.06.1982

DIN No.:

00480486

 

 

Name :

Mrs. Kamini Ashit Vadhani

Designation :

Director

Address :

301, Ramniwas, Painagar, Borivali (W), Mumbai-400092, Maharashtra, India

Date of Appointment :

22.03.1999

DIN No.:

00480535

 

 

Name :

Mrs. Pooja Ashit Vadhani

Designation :

Director

Address :

602, Ganjawala Elegance Chsl Ganjawala Lane, Borivali (West), Mumbai- 400092, Maharashtra, India

Date of Appointment :

11.04.2011

DIN No.:

03478920

 

           

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 29.09.2017

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

 

 

AS ON: 29.09.2017

 

Equity Share Breakup

Percentage of Holding

Category

 

Promoters – Individual/ Hindu Undivided Family – Indian

100.00

 

 

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

·         Manufacturer and Exporter of Corrugated Boxes, Multi Colour, Printed Cartons, Packaging Boxes, etc. [Confirmed by Management]

 

·         Manufacturing of Corrugated Boxes and Related Packing Items. [Registered Activity]

 

 

Products/ Services :

ITC Code No.

 

Product Descriptions

99883220

Manufacturing of Corrugated Boxes

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

Dubai

 

 

Imports :

 

Products :

Not Available

Countries :

Not Available

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS: (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

Customers :

 

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

 

Bank Name:

The Bharat Co-Operative Bank Limited

Branch:

Marutagiri, Plot No. 13/9A, Sonawala Road, Samant Wadi, Goregaon (East), Mumbai-400063, Maharashtra, India

Person Name (with Designation):

--

Contact Number:

91-22-61890307

Name of Account Holder:

--

Account Number:

000313100007076 [Not confirmed with Banker]

IFSC Code: BCBM0000004

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

--

Account Operation:

--

Remarks:

Continuously ringing

 

·         The Bharat Co-operative Bank (Mumbai) Limited

Goregaon (East) Branch, 'Shivgiri', Plot No.11, Samant Estate, Goregaon (East),, Mumbai - 400063, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

LONG-TERM BORROWINGS

 

 

Bharat Co-operative Bank Term Loan

(Secured against Land and Building and Plant and Machinery of the company)

0.763

1.525

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

 

 

Bharat Co-operative Bank Over Draft 

(Secured against Land and Building and Plant and Machinery of the company)

3.094

3.580

 

 

 

Total

 

3.857

5.105

 

 

 

Auditors :

 

Name :

Solanki and Associates

Chartered Accountants

Address :

Shop No.3, Nimesh Apartments, Mandapeshwar Road, Borivali West, Mumbai-400002, Maharashtra, India

Tel. No.:

91-22-28928624

Mobile No.:

91-9322226386

Fax No.:

91-22-28904448

E-Mail :

dsolanki@vsnl.com

PAN No.:

AAGPS5287D

 

 

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

 

 

 

 

20000

Equity Shares

INR 100/- each

INR 2.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20000

Equity Shares

INR 100/- each

INR 2.000 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

2.000

2.000

2.000

(b) Reserves & Surplus

6.101

6.277

6.533

(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)

8.101

8.277

8.533

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

32.519

30.925

31.452

(b) Deferred tax liabilities (Net)

1.175

1.496

1.575

(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)

33.694

32.421

33.027

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3.094

3.580

1.541

(b) Trade payables

14.618

14.858

11.357

(c) Other current liabilities

2.479

3.456

2.641

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

20.191

21.894

15.539

 

 

 

 

TOTAL

61.986

62.592

57.099

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

17.475

18.583

19.861

(ii) Intangible Assets

0.000

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

0.107

0.107

0.107

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.186

0.160

0.165

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

17.768

18.850

20.133

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

9.886

9.160

8.015

(c) Trade receivables

33.192

33.344

27.512

(d) Cash and cash equivalents

0.517

0.707

0.988

(e) Short-term loans and advances

0.623

0.531

0.451

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

44.218

43.742

36.966

 

 

 

 

TOTAL

61.986

62.592

57.099

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

 

Revenue from Operations

57.928

65.262

75.884

 

 

Other Income

0.025

0.015

0.016

 

 

TOTAL                                    

57.953

65.277

75.900

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

41.142

45.213

54.898

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(1.683)

0.017

0.684

 

 

Employees benefits expense

8.362

9.016

8.569

 

 

Other expenses

6.950

7.139

6.974

 

 

TOTAL                                    

54.771

61.385

71.125

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

3.182

3.892

4.775

 

 

 

 

 

Less

FINANCIAL EXPENSES                       

2.205

2.737

2.820

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION              

0.977

1.155

1.955

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

1.470

1.489

2.306

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX                        

(0.493)

(0.334)

(0.351)

 

 

 

 

 

Less

TAX                                                                 

(0.316)

(0.078)

(0.245)

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX               

(0.177)

(0.256)

(0.106)

 

 

 

 

 

 

Earnings/ (Loss) Per Share (INR)

 

 

 

 

Basic

(24.67)

(16.71)

(17.55)

 

Diluted

(8.84)

(12.79)

(5.29)

 

 

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

(0.190)

(0.281)

0.532

 

 

 

 

Net Cash from Operating Activities

(0.190)

(0.281)

0.532

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

209.14

186.49

132.33

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

1.75

1.96

2.76

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

129.69

119.95

75.51

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.32

0.42

0.60

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.18

0.21

0.24

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.85

0.84

0.82

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

4.40

4.17

3.87

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.49

2.65

1.82

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

2.16

2.25

2.33

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.44

1.42

1.69

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

(0.31)

(0.39)

(0.14)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

(0.29)

(0.41)

(0.19)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(2.18)

(3.09)

(1.24)

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

2.19

2.00

2.38

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.70

1.58

1.86

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.13

0.13

0.15

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

17.81

17.25

16.50

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.19

2.00

2.38

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

2.000

2.000

2.000

Reserves & Surplus

6.533

6.277

6.101

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

8.533

8.277

8.101

 

 

 

 

long-term borrowings

31.452

30.925

32.519

Short term borrowings

1.541

3.580

3.094

Total borrowings

32.993

34.505

35.613

Debt/Equity ratio

3.867

4.169

4.396

 

 

 

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

75.884

65.262

57.928

 

 

(13.998)

(11.238)

 

 

 

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

75.884

65.262

57.928

Profit/ (Loss)

(0.106)

(0.256)

(0.177)

 

(0.14%)

(0.39%)

(0.31%)

 


 

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)

Yes

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

Yes

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

B62970215

10389007

The Bharat Co-operative Bank(Mumbai) LTD

12/11/2012

-

-

3300000.0

Goregaon (East) Branch, 'Shivgiri', Plot No.11Samant Estate, Goregaon (East),MumbaiMH400063IN

2

B62969811

10389005

The Bharat Co-operative Bank(Mumbai) LTD

12/11/2012

-

-

1500000.0

Goregaon (East) Branch, 'Shivgiri', Plot No.11Samant Estate, Goregaon (East),MumbaiMH400063IN

3

A44415750

10119084

THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED

08/08/2008

-

-

5000000.0

GOREGAON BRANCH , 'SHIVGIRI' ,PLOT NO.11,SAMANT ESTATE , GORAGAON (EAST).MUMBAIMH400063IN

4

A19446137

10060946

THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED

12/07/2007

-

-

3000000.0

GOREGAON BRANCH , 'SHIVGIRI' ,PLOT NO.11,SAMANT ESTATE , GORAGAON (EAST).MUMBAIMH400063IN

 

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

LONG-TERM BORROWINGS

 

 

From Directors

24.409

22.053

From Members

7.347

7.347

 

 

 

Total

 

31.756

29.400

 

 

CORPORATE INFORMATION

 

The company is engaged in the business of Manufacturing of Corrugated Boxes and Related Packing Items.


FIXED ASSETS:

 

Tangible Assets

 

·         Land

·         Buildings

·         Computer

·         Electrical Fittings

·         Furniture and Fixtures

·         Plant and Machinery

·         Office Equipment

·         Motor Car

·         Inverter

·         Motor Cycle

·         Air Conditioner

 

 

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 67.63

UK Pound

1

INR 89.70

Euro

1

INR 78.20

 

 

INFORMATION DETAILS

 

Information Gathered by :

TEJ

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.