|
|
|
MIRA INFORM REPORT
|
Report No. : |
494557 |
|
Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
VEETRAG COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12, 13 and 14, Sidhivinayak Complex, Near Tata Petrol Pump, Guest
House, Sangli Miraj Road, Sangli – 416416, Maharashtra |
|
Tel. No.: |
91-233-2670885 / 2672320 / 2670798 |
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|
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
01.09.2014 |
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Com. Reg. No.: |
11-152370 |
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Capital
Investment / Paid-up Capital : |
INR 5.000 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U51909PN2014PTC152370 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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TIN No.: |
27521114968 |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
27AAECV8865D1ZY |
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PAN No.: [Permanent Account No.] |
AAECV8865D |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
30 (Approximately) |
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 30000 |
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|
|
Status : |
Satisfactory |
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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 2014. It is a dealer, distributor
and service provider of computer and Peripherals. For the financial year 2017, the revenue of the company has decreased by
15.52% but has managed to maintain low profit margin of 0.27%. The satisfactory financial profile of the company is marked by
comfortable networth base along with average debt coverage indicators. Rating takes into consideration equity infused by its promoters. Business is active. Payments seems to be slow but correct. In view of aforesaid, the company can be 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 (30.09.2017) |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 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 PARTED BY (GENERAL INFORMATION)
|
Name : |
Mr. Amol Patil |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9689891768 |
|
Date : |
26.02.2018 |
Mobile No.: 91-9663786013 – Not Working
LOCATIONS
|
Registered Office/ Corporate
Office : |
12, 13 and 14, Sidhivinayak Complex, Near Tata Petrol Pump, Guest
House, Sangli Miraj Road, Sangli – 416416, Maharashtra, India |
|
Tel. No.: |
91-233-2670885 / 2672320 / 2670798 |
|
Mobile No.: |
91-9689891768 (Mr. Amol Patil) |
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Fax No.: |
91-233-2670798 |
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E-Mail : |
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Website : |
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Warehouse : |
Plot No.7, Parshvanath Nagar, Near Jain Temple, Kupwad, M.I.D.C. Road,
Sangli – 416436, Maharashtra, India |
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|
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Sales office 1 : |
S1/S2/S3, Infinity Complex, Opposite Dhairyaprasad Hall, Tarabai Park, Kolhapur – 416 003, Maharashtra, India |
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Sales office 2 : |
Office No.09, 2nd Floor, Bandal – Dhanakude Plaza, Kothrud, Pune – 411038, Maharashtra, India |
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Chennai Office : |
No. 8, Gangaiamman Koil Street, Sothupakkam Road, Palavoil, Redhills, Chennai - 600 052, Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Praveen Vrashabhanath Naik |
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|
Designation : |
Director |
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Address : |
Devaki Plot No. 8 Parshwanathnagar, Kupwad Road Near Jain Basti, Sangli-416415, Maharashtra, India |
||||||||
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Date of Birth/Age : |
28.05.1967 |
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Date of Appointment : |
01.08.2016 |
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DIN No.: |
01844384 |
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PAN No.: |
AAJPN0332R |
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Other Directorship:
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|
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Name : |
Mrs. Deepa Pravin Naik |
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Designation : |
Director |
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Address : |
Plot No. 08, Parshwnath Nagar, Sangli-416415, Maharashtra, India |
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Date of Birth/Age : |
02.08.1969 |
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Date of Appointment : |
01.09.2014 |
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DIN No.: |
01669061 |
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PAN No.: |
AAJPN0327J |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Amol Patil |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Praveen Vrashabhanath Naik |
|
45245 |
|
Deepa Pravin Naik |
|
4745 |
|
Tanvi Pratap Dugge |
|
5 |
|
Manasi Rajendra Bage |
|
5 |
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
99.98 |
|
Public – (Individual/ Hindu
Undivided Family – Indian |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products : |
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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 : |
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Selling : |
Credit, RTGS and NEFT |
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Purchasing : |
Credit, RTGS and NEFT |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Khire Khandekar and Kirloskar Chartered Accountants |
|
Address : |
157, Raghukul, South Shivaji Nagar, Panchmukhi Maruti Road,
Sangli-416416, Maharashtra, India |
|
Tel. No.: |
91-233-2376096 |
|
Fax. No.: |
91-233-2377315 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFK5801E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 100/- each |
INR 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 100/- each |
INR 5.000 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 |
5.000 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
5.369 |
4.501 |
-0.032 |
|
(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) |
10.369 |
4.601 |
0.068 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
49.495 |
42.715 |
0.126 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.027 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
49.495 |
42.742 |
0.126 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
28.728 |
13.873 |
0.000 |
|
(b) Trade payables |
25.458 |
41.103 |
0.000 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
8.121 |
10.730 |
0.008 |
|
Total
Current Liabilities (4) |
62.307 |
65.706 |
0.008 |
|
|
|
|
|
|
TOTAL |
122.171 |
113.049 |
0.202 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.863 |
2.239 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1.863 |
2.239 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
13.882 |
18.444 |
0.000 |
|
(c) Trade receivables |
84.859 |
65.963 |
0.000 |
|
(d) Cash and cash equivalents |
16.889 |
21.291 |
0.110 |
|
(e) Short-term loans and
advances |
4.632 |
5.043 |
0.000 |
|
(f) Other current assets |
0.046 |
0.069 |
0.092 |
|
Total
Current Assets |
120.308 |
110.810 |
0.202 |
|
|
|
|
|
|
TOTAL |
122.171 |
113.049 |
0.202 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
317.748 |
376.146 |
0.000 |
|
|
Other Income |
1.722 |
0.547 |
0.000 |
|
|
TOTAL
|
319.470 |
376.693 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Administrative Expenses |
3.035 |
4.186 |
0.032 |
|
|
Purchases of Stock-in-Trade |
288.738 |
349.864 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
4.563 |
(18.444) |
0.000 |
|
|
Business Activity Charges |
1.095 |
6.355 |
0.000 |
|
|
Employees benefits expense |
10.261 |
10.402 |
0.000 |
|
|
Other expenses |
7.376 |
13.052 |
0.000 |
|
|
TOTAL |
315.068 |
365.415 |
0.032 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
4.402 |
11.278 |
(0.032) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.345 |
4.092 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.057 |
7.186 |
(0.032) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
0.725 |
0.404 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.332 |
6.782 |
(0.032) |
|
|
|
|
|
|
|
Less |
TAX |
0.465 |
2.249 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.867 |
4.533 |
(0.032) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.501 |
(0.032) |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
5.368 |
4.501 |
(0.032) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Trading Material |
0.000 |
0.482 |
0.000 |
|
|
TOTAL
IMPORTS |
0.000 |
0.482 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
17.35 |
4532.80 |
(31.72) |
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 |
(17.814) |
(25.974) |
(0.107) |
|
Net cash flow from operating activity |
(14.197) |
(14.777) |
(0.116) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
97.48 |
64.01 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.74 |
5.70 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
31.85 |
42.37 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.32 |
0.61 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.36 |
5.04 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.92 |
0.96 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
7.54 |
12.30 |
1.85 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
6.01 |
14.28 |
0.12 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.18 |
0.49 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.88 |
2.76 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.27 |
1.21 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.71 |
4.01 |
(15.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
8.36 |
98.52 |
(47.06) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.93 |
1.69 |
25.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.71 |
1.41 |
25.25 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.08 |
0.04 |
0.34 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
15.64 |
565.88 |
1.26 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.93 |
1.69 |
25.25 |
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 |
5.000 |
|
Reserves & Surplus |
(0.032) |
4.501 |
5.369 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
0.068 |
4.601 |
10.369 |
|
|
|
|
|
|
Long Term borrowings |
0.126 |
42.715 |
49.495 |
|
Short Term borrowings |
0.000 |
13.873 |
28.728 |
|
Total
borrowings |
0.126 |
56.588 |
78.223 |
|
Debt/Equity
ratio |
1.853 |
12.299 |
7.544 |
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
|
0.000 |
376.146 |
317.748 |
|
|
|
|
(15.525) |
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
|
0.000 |
376.146 |
317.748 |
|
Profit |
(0.032) |
4.533 |
0.867 |
|
|
|
1.21% |
0.27% |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from S. No. 219, Opposite Galaxy Cable, MIDC Kupwad Block, Savali-416410, Maharashtra, India to the present address.
GENERAL:
Company is in the business of sale and services of computer and related IT
services. Company is able to achieve good progress in its activities in
comparison to its global competitors and expects to continue the same in
future. Company has established its branches at Chennai, Mumbai, Pune, Kolhapur
and Sangli.
COMPANY OVERVIEW:
Subject is a private limited company registered under the Companies Act
2013 vides Regn No. CIN I5909 PN 2014 152370 DT 01st Sep. 2014.
Company is registered with the main object of take over entire running business
activity, with all assets and liabilities, of Veetrag Computers (Proprietor Mr.
Praveen Naik). By execution of take over Deed on 23.09.2015 the company had
taken overall assets and liabilities of the said firm w.e.f. 23.09.2015.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Praveen Naik – Director |
28.216 |
27.431 |
|
Deepak Naik – Director |
2.242 |
2.292 |
|
Praveen Naik – HUF |
13.781 |
7.711 |
|
Prajyot Naik |
5.256 |
5.281 |
|
Total |
49.495 |
42.715 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G62238555 |
100134939 |
01/02/2017 |
- |
- |
10000000.0 |
Guest House Road, Sangli Branch, Sangli – 416416, Maharashtra, India |
|
|
2 |
G02421899 |
100023209 |
24/02/2016 |
- |
- |
30000000.0 |
Guest House Road, Sangli Branch, Sangli – 416416, Maharashtra, India |
|
|
3 |
C74970203 |
10577003 |
15/06/2015 |
- |
30/12/2015 |
20000000.0 |
City Survey No. 32/A, Ambrai Road, Azad Chowk, Opposite Collector's Bunglow, Sangli – 416416, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Letter of Credit (LC’s) and Bank Guarantees
(BG’s) issued by Bank (counter-guarantee by Company) pending as at the end of
the year (other than those obtained by giving 100% fixed deposits) |
8.328 |
0.000 |
FIXED ASSETS
- Machinery
- Computer
- Office Furniture
- 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 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 64.85 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.