|
|
|
MIRA INFORM REPORT
|
Report No. : |
494637 |
|
Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
CITI BANK N.A. |
|
|
|
|
Registered
Office : |
293, Dr. D.N. Road, Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-26535757 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
01.01.1900 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 37438.400 million |
|
|
|
|
FCRN : |
F00471 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
GSTIN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Foreign Registered Bank |
|
|
|
|
Line of Business
: |
Providing Treasury, Corporate banking, Retail banking and Other
banking business. [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 : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 621000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is the banking subsidiary of Citigroup, a leading financial conglomerate
and a highly diversified bank with leading positon in many financial product
line. It is a well-established bank having excellent track record. For the financial year 2017, the bank has achieved a decent revenue
base and has maintained satisfactory profitability margin. The bank possesses a favorable financial profile marked by healthy
resource profile with decent asset size and deposit base along with
comfortable capitalization. The rating also takes into consideration, the group’s presence in
other areas of financial and free based activities along with successfully
leveraging the “Citibank” brand. Trade relations are fair. Business is active. Payment seems to be
regular and as per commitments. In view of aforesaid, the subject can be considered excellent 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 (30.09.2017) |
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
|
Rating Agency Name |
CRISIL RATING |
|
Rating |
Long Term Loans = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk |
|
Date |
22.12.2017 |
|
Rating Agency Name |
CRISIL RATING |
|
Rating |
Short Term Loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
22.12.2017 |
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 01.03.2018.
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
Management Non-Cooperative [Tel. No.: 91-22-26535757]
LOCATIONS
|
Registered
Office : |
Located at: ·
United States of America |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
Website : |
|
|
|
|
|
India Branch
Office : |
293, Dr. D N Road, Fort, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax. No: |
Not Available |
|
E-Mail : |
|
|
|
|
|
First International Financial Centre : |
Legal Department, FIFC, 8th
Floor, Plot Nos. C-54 and C-55, G-Block, Bandra
Kurla Complex, Bandra [East], Mumbai –
400051, Maharashtra, India |
|
Tel. No.: |
91-22-61759999 |
|
Fax. No: |
91-22-26532010 |
|
|
|
|
Other Branch Offices : |
Located At: · Ahmedabad · Akola · Aurangabad · Bengaluru (M.G. Road and South End Road) · Bhopal · Bhubaneshwar · Chandigarh · Chennai (Anna Salai and Alwarpet) · Coimbatore · Faridabad · Gurgaon · Indore · Jaipur · Jalandhar · Kochi · Kolkata (Brabourne Road and Chowringee Road) · Lucknow · Ludhiana · Mumbai (Lower Parel West, Andheri East, Fort, Juhu, Khar, Thane and Vashi) · Nagpur · Nanded · Nandyal · Nasik · New DeIhi (Connaught Circus, Sansad Marg, Punjabi Baug, Nehru Place, South Extension and Vasant Vihar) · Noida · Puducherry ·
Pune · Hyderabad (S.P. Road and Serilingampally Mandal) · Surat · Vadodara |
DIRECTORS
As on 31.03.2017
|
Name : |
Ellen Marie Costello |
|
Designation : |
Former President, Chief Executive Officer, SMO Financial Corporation and Former U.S. Country Head, SMO Financial Group |
|
Date of Birth/Age: |
24.09.1954 |
|
|
|
|
Name : |
Barbara Jean Desoer |
|
Designation : |
Chief Executive Officer, Citibank, N.A. |
|
Date of Birth/Age: |
04.11.1952 |
|
|
|
|
Name : |
Duncan P. Hennes |
|
Designation : |
Co-Founder and Partner Atrevida Partners, LLC |
|
Date of Birth/Age: |
20.08.1956 |
|
|
|
|
Name : |
Eugene M. McQuade |
|
Designation : |
Chief Executive Officer, Retired CitiBank, N.A. and Vice Chairman, Retired Citigroup Inc. |
|
Date of Birth/Age: |
31.01.1949 |
|
|
|
|
Name : |
Anthony M. Santomero |
|
Designation : |
Former President Federal Reserve Bank of Philadelphia |
|
Date of Birth/Age: |
29.09.1946 |
|
|
|
|
Name : |
Joan E. Spero |
|
Designation : |
Senior Research Scholar Columbia University School of International and Public Affairs |
|
Date of Birth/Age: |
02.10.1944 |
|
|
|
|
Name : |
James S. Turkey |
|
Designation : |
Former Chairman and ECO Ernst and Young |
|
Date of Birth/Age: |
17.09.1955 |
KEY EXECUTIVE
|
Name : |
Mr. Pramit Jhaveri |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Mr. Anand Selva |
|
Designation : |
CBM – Retail Bank |
|
|
|
|
Name : |
Mr. Abhijit Sen |
|
Designation : |
Country CFO |
|
|
|
|
Name : |
K. Anandasagar |
|
Designation : |
Country Compliance Head Designation : |
|
|
|
|
Name : |
Mr. Pramod Rao |
|
Designation : |
Country Counsel |
|
|
|
|
Name : |
Mr. Manish Kumar |
|
Designation : |
Country Risk Head |
|
|
|
|
Name : |
Mr. Rahul Shukla |
|
Designation : |
Corporate Banking Head |
|
|
|
|
Name : |
Mr. Pankaj Vaish |
|
Designation : |
Country Treasurer |
|
|
|
|
Name : |
Mr. Vikram Subrahmanyam |
|
Designation : |
Operations and Technology Head |
|
|
|
|
Name : |
Mr. Girish Mehra |
|
Designation : |
IA Head |
|
|
|
|
Name : |
Ms. Anuranjita Kumar |
|
Designation : |
Country HR Head |
|
|
|
|
Name : |
Mr. Samir Kaul |
|
Designation : |
Private banking Head |
|
|
|
|
Name : |
Mr. Viral Damania |
|
Designation : |
Country Controller |
|
|
|
|
Name : |
Mrs. Vinaya Parvate |
|
Designation : |
ERM Head |
|
|
|
|
Name : |
Mr. Ashish Mehrotra |
|
Designation : |
Retail Bank Head |
|
|
|
|
Name : |
Mr. Kartik Kaushik |
|
Designation : |
CBM – Retail Bank |
BUSINESS DETAILS
|
Line of Business : |
Providing Treasury, Corporate banking, Retail banking and Other
banking business. [Registered
Activity] |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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|||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
5th Floor, lodha Excelus, Apollo Mills Compound, N. M.
Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-43455300 |
|
Fax No.: |
91-22-43455399 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Parent : |
Citibank N.A. and its branches |
|
|
|
|
Holding Company of Parent : |
Citigroup Inc. |
|
|
|
|
Subsidiaries of
Parent : |
|
|
|
|
|
Fellow Subsidiaries of Parent : |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
|
CAPITAL |
Amt.
in Million |
|
|
|
|
Amount of deposit kept with RBI under Section 11
(2) (b) of the Banking Regulation Act, 1949 |
65560.000 |
|
CAPITAL |
|
|
Initial Capital |
2.000 |
|
|
|
|
Interest free funds from H.O. for CRAR
requirements |
37436.400 |
|
TOTAL |
37438.400 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
CAPITAL AND LI |
|
|
|
|
|
|
|
|
|
Capital |
37438.400 |
37438.400 |
37438.400 |
|
Reserves and Surplus |
180026.300 |
167818.700 |
160623.800 |
|
Deposits |
1040189.700 |
1002153.700 |
889120.000 |
|
Borrowings |
59346.600 |
211399.900 |
174078.300 |
|
Other Liabilities and Provisions |
166906.200 |
122355.400 |
126495.900 |
|
|
|
|
|
|
TOTAL |
1483907.200 |
1541166.100 |
1387756.400 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and balance with Reserve Bank of |
105953.400 |
43228.400 |
49683.400 |
|
Balances with banks and money at call and short notice |
96242.900 |
54984.300 |
43767.400 |
|
Investments |
578206.200 |
709231.800 |
571023.400 |
|
Advances |
548569.200 |
615505.000 |
608963.100 |
|
Fixed Assets |
15585.100 |
16294.200 |
16424.700 |
|
Other Assets |
139350.400 |
101922.400 |
97894.400 |
|
TOTAL |
1483907.200 |
1541166.100 |
1387756.400 |
|
|
|
|
|
|
Contingent Liabilities |
8311201.600 |
8902256.200 |
10401841.300 |
|
|
|
|
|
|
Bills for Collection |
144930.800 |
106160.000 |
129704.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Interest Earned |
104508.500 |
106976.000 |
102105.300 |
|
|
|
Other Income |
37329.900 |
31653.800 |
33310.900 |
|
|
|
TOTAL |
141838.400 |
138629.800 |
135416.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Interest Expended |
36001.700 |
42481.600 |
43564.400 |
|
|
|
Operating Expenses |
37956.800 |
34532.300 |
31522.300 |
|
|
|
Provisions and Contingencies |
31623.800 |
29286.200 |
26104.000 |
|
|
|
TOTAL |
105582.300 |
106300.100 |
101190.700 |
|
|
|
|
|
|
|
|
|
NET PROFIT FOR
THE YEAR |
36256.100 |
32329.700 |
34225.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Statutory Reserve |
9064.000 |
8082.400 |
8556.400 |
|
|
|
Transfer to Foreign Exchange Reserve |
0.000 |
0.000 |
56.300 |
|
|
|
Transfer to Capital Reserve on sale of
immovable property |
67.700 |
(74.200) |
301.200 |
|
|
|
Transfer to Investment Reserve |
(604.100) |
254.700 |
245.800 |
|
|
|
Transfer to Special Reserve |
241.100 |
24066.800 |
25065.800 |
|
|
BALANCE CARRIED
TO THE B/S |
27487.400 |
32329.700 |
34225.500 |
|
|
|
|
|
|
|
|
|
|
TOTAL |
36256.100 |
32329.700 |
34225.500 |
|
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 flow from operating activity |
280486.500 |
(6328.400) |
42097.800 |
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 |
|
Capital |
37438.400 |
37438.400 |
37438.400 |
|
Reserves & Surplus |
160623.800 |
167818.700 |
180026.300 |
|
Net worth |
198062.200 |
205257.100 |
217464.700 |
|
|
|
|
|
|
Borrowings |
174078.300 |
211399.900 |
59346.600 |
|
Total borrowings |
174078.300 |
211399.900 |
59346.600 |
|
Debt/Equity ratio |
0.879 |
1.030 |
0.273 |
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 |
|
Interest Earned |
102105.300 |
106976.000 |
104508.500 |
|
|
|
4.770 |
(2.307) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Interest Earned |
102105.300 |
106976.000 |
104508.500 |
|
Profit |
34225.500 |
32329.700 |
36256.100 |
|
|
33.52% |
30.22% |
34.69% |
LEGAL CASES
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 05/10/2017 |
|
|
|
Reg. No.:- CHS/1087/2017
Reg. Date :- 20/11/2017 |
|
Main
Matter Lodging No.:- SL/1704/2002
Reg. No.:- S/1844/2002 |
|
Petitioner: TATA MOTORS LIMITED- Respondent:
CITIBANK N.A.-
Petn. Adv : CYRIL AMARCHAND MANGALDAS (0) District: MUMBAI |
|
Bench: SINGLE Status: PRE-ADMISSION
Category: CHAMBER SUMMONS
Last Date: 21/11/2017 Stage:
FOR REJECTION [ORIGINAL SIDE
MATTERS] Last Coram: REGISTRAR (OS)/PROTHONOTARY AND SR. MASTER |
|
Act: Code of Civil Procedure 1908 |
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 14/04/2014 |
|
|
|
Reg. No.:- ITXA/808/2014
Reg. Date :- 17/04/2014 |
|
Petitioner: DIRECTOR OF INCOME TAX (IT)-I- Respondent:
CITI BANK N.A.-
Petn. Adv : TEJVEER SINGH MASTAN SIGH(I3678) District: MUMBAI |
|
Bench: DIVISION Status: Admitted [Unready]
Category: TAX APPEALS
Last Date: 07/01/2016 Stage:
FOR ADMISSION Last Coram: HON'BLE SHRI JUSTICE M.S. SANKLECHA HON’BLE SHRI JUSTICE S.C. GUPTE |
|
Act: Companies Act and Rules 1961 UNDER SECTION: 260A |
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND:
The accompanying financial statements for the year ended march 31, 2017 comprise the accounts of Citibank N.A.-India Branches (The Bank) a banking company under the banking Regulation Act, 1949. Citibank N.A. is incorporated with limited liability in the United State of America
CONTINGENT
LIABILITIES:
(INR in Million)
|
PARTICULARS |
31.03.2017 |
|
|
|
|
Claims against the bank not acknowledged as debts |
3971.600 |
|
Liability on account of outstanding forward exchange contracts |
4551099.400 |
|
Liability on account of outstanding Rupee Interest Rate Swaps |
3366100.300 |
|
Guarantees given on behalf of constituents |
|
|
a) In |
172405.400 |
|
b) Outside |
33398.000 |
|
Acceptances, endorsement and other obligations |
176566.000 |
|
Others |
17660.800 |
|
|
|
|
Total |
8311201.600 |
FIXED ASSETS:
· Leasehold Land
· Premises
· Furniture and Fixtures
· Equipment
· Racks, structured cables, other computer hardware and related Equipment
· Other Computer Hardware and related Equipment
· Personal computers along with operating systems
· Software
· LAN printers, servers, scanners, fax machines
· Vehicles
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 64.85 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.