|
|
|
MIRA INFORM REPORT
|
Report No. : |
495974 |
|
Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
PARAMPUJYA SOLAR ENERGY PRIVATE LIMITED
[w.e.f. 18.09.2015] |
|
|
|
|
Formerly Known
As : |
PARAMPUJYA
DEVELOPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Seventh Floor, Wing B, Sambhaav House, Judges Bungalow
Road, Bodakdev Ahmedabad – 380015, Gujarat |
|
Tel. No.: |
91-79-25556900 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
23.06.2015 |
|
|
|
|
Com. Reg. No.: |
04-083632 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70101GJ2015PTC083632 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICP1892L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Generation of Power. [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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is relatively new company incorporated in the year 2015 and it is having moderate track records. It is a wholly owned subsidiary of Adani Green Energy limited. Management of the company has not filed its financials of 2017 with government department. As per available financials of 2016, the company has not undertaken any business operation and incurred some operating expenses which has resulted into losses. Further, rating weakness is partially offset by strong managerial and financial support received to the company from its holding entity as well as promoter’s extensive experience. Further as per indirect sources we could find that, the company is developing a 420MW solar power projects which are under various stages of execution. Availed for 340MW of capacity where 100MW in Telangana (50MW each under the open and domestic content requirement category), 100MW in Karnataka under the open category, 40MW in Karnataka under the domestic content category and 100MW in Chhattisgarh. The project company has signed a 25-year power purchase agreement (PPA) with SECI (41% of the rated 340MW) and NTPC (59%) at a fixed tariff. NTPC and SECI will bundle the purchased power and sell it to state distribution companies SECI has been included as a beneficiary in a tripartite agreement between the government of India, state governments and the Reserve Bank of India. Payments are unknown. 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
|
Rating Agency Name |
INDIA RATING |
|
Rating |
Long Term Rating = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
09.11.2017 |
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 08.03.2018.
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.: 91-79-25556900 / 7400]
LOCATIONS
|
Registered Office : |
Seventh Floor, Wing B, Sambhaav House, Judges Bungalow
Road, Bodakdev Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-25556900 / 27501481 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Dhaval Bhavikbhai Shah |
|
Designation : |
Managing Director |
|
Address : |
C/802 Chandanbala Apartment, Opposite Suvidha Shopping Centre,
Near Mahalaxmi 4 Rasta, Paldi, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
19.08.1983 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
01.09.2015 |
|
PAN No.: |
ANZPS4912P |
|
DIN No.: |
02320719 |
|
|
|
|
Name : |
Mr. Sushama Ashvin Oza |
|
Designation : |
Director |
|
Address : |
G-2, Chitrakut Apartment, 36 Suvarnapuri Society Off.
Jetal Pur Road, Vadodara – 390007, Gujarat, India |
|
Date of Appointment : |
20.08.2016 |
|
DIN No.: |
07145540 |
|
|
|
|
Name : |
Mr. Ashish Garg |
|
Designation : |
Additional Director |
|
Address : |
C/701 Aradhana CHSL Bombay Dying Mill Compound, G D
Ambekar Marg, Wadala (West), Mumbai – 400014, Maharashtra, India |
|
Date of Appointment : |
13.01.2018 |
|
DIN No.: |
07191220 |
|
|
|
|
Name : |
Mr. Kanissery Appumenon Ajith |
|
Designation : |
Additional Director |
|
Address : |
Parangattil House, Parlikad Po Wadakanchery Via, Thrissur
- 680623, Kerala, India |
|
Date of Appointment : |
13.01.2018 |
|
DIN No.: |
08033385 |
KEY EXECUTIVES
|
Name : |
Pareen Jayprakash Soni |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
B-203, Satyam Status Jodhpur, Ahmedabad – 380015, Gujarat,
India |
|
Date of Appointment : |
20.10.2016 |
|
PAN No.: |
BDDPS1671Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Adani Green Energy Limited,
India |
|
9994 |
|
Vasant S. Adani |
|
1 |
|
Priti G Adani |
|
1 |
|
Pranav Vinod Adani |
|
1 |
|
Vineet S Jaain |
|
1 |
|
Hardik Sanghavi |
|
1 |
|
Gunjan Taunk |
|
1 |
|
|
|
|
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on 05.08.2016
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
99.94 |
|
Public - Bodies corporate |
0.06 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Generation of Power. [Registered Activity] |
||||
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Products : |
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Brand Names : |
Not Divulged |
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||||
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Agencies Held : |
Not Divulged |
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||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
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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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Auditors : |
|
|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303 / 304 Milestone, Near Drive-In-Cinema, Opposite T V Tower, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAGFD1279G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Adani Green Energy Limited U40106GJ2015PLC082007 |
|
|
|
|
Ultimate Holding
Company : |
Adani Enterprises Limited L51100GJ1993PLC019067 |
|
|
|
|
Fellow Subsidiary
Company : |
Adani Green Energy (UP) Limited U40106GJ2015PLC083925 |
CAPITAL STRUCTURE
After 31.03.2016
Authorised Capital : INR 5500.000 Million
Issued, Subscribed & Paid-up Capital : INR 3919.100
Million
As on 31.03.2016
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 |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
23.06.2015 to 31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.100 |
|
(b) Reserves & Surplus |
|
|
(4.633) |
|
(c) Money received
against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
|
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
|
(4.533) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
64.001 |
|
(b) Trade payables |
|
|
1.141 |
|
(c) Other current
liabilities |
|
|
0.066 |
|
(d) Short-term provisions |
|
|
0.000 |
|
Total Current Liabilities
(4) |
|
|
65.208 |
|
|
|
|
|
|
TOTAL |
|
|
60.675 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
8.476 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
6.007 |
|
(iv) Intangible assets
under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
4.727 |
|
(e) Other Non-current
assets |
|
|
0.000 |
|
Total Non-Current Assets |
|
|
19.210 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
11.500 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
0.000 |
|
(d) Cash and cash
equivalents |
|
|
14.506 |
|
(e) Short-term loans and
advances |
|
|
15.459 |
|
(f) Other current assets |
|
|
0.000 |
|
Total Current Assets |
|
|
41.465 |
|
|
|
|
|
|
TOTAL |
|
|
60.675 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
23.06.2015 to 31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
0.000 |
|
|
Other Income |
|
|
0.000 |
|
|
TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Other expenses |
|
|
3.827 |
|
|
TOTAL |
|
|
3.827 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
(3.827) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
0.806 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
|
(4.633) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
|
(4.633) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
|
(4.633) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
(463.28) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
23.06.2015 to 31.03.2016 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Cash generated from operations |
|
|
NA |
|
Net cash flow from operating activity |
|
|
(18.079) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
23.06.2015 to 31.03.2016 |
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
(0.26) |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
23.06.2015 to 31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
1.07 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
|
|
(14.12) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
(14.39) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
(3.20) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
(4.75) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
23.06.2015 to 31.03.2016 |
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
(7.64) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
102.21 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
23.06.2015 to 31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
0.64 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
|
|
0.64 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
(0.07) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
640.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
0.64 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
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 |
No |
|
26 |
Turnover of firm for last nine months |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last nine months |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
UNSECURED LOAN
|
Unsecured Loan |
|
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Rupee term loans from others |
|
64.001 |
|
|
|
|
|
Total |
|
64.001 |
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G75880781 |
100152002 |
12/01/2018 |
- |
- |
2650000000.0 |
202, Maker Tower "E",Cuffe Parade Mumbai MH 400005 IN |
|
|
2 |
G76852466 |
100144111 |
06/12/2017 |
12/01/2018 |
- |
1000000000.0 |
202, Maker Tower "E",Cuffe Parade Mumbai MH 400005 IN |
|
|
3 |
G53738233 |
100123421 |
16/09/2017 |
- |
- |
4400000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLI MUMBAI Ma 400025 IN |
|
|
4 |
G47516679 |
100107213 |
21/06/2017 |
- |
- |
2720000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EAST MUMBAI Ma 400051 IN |
|
|
5 |
G42277699 |
100093373 |
07/04/2017 |
- |
- |
3045000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLI MUMBAI Ma 400025 IN |
|
|
6 |
G53012753 |
100079527 |
23/02/2017 |
01/09/2017 |
- |
5200000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLI MUMBAI Ma 400025 IN |
|
|
7 |
G76118413 |
100058897 |
27/10/2016 |
12/01/2018 |
- |
2725000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLI MUMBAI Ma 400025 IN |
|
PRESS RELEASE
ADANI GROUP WINS BID TO SET UP A 100 MW
SOLAR UNIT IN CHHATTISGARH
NEW DELHI: An Adani Group company has won the project to set up a 100 MW solar power unit in Chhattisgarh, in an auction where none of the bidders quoted below the reserve price.
Parampujya Solar Energy, an arm of Adani Green Energy, sought the lowest viability gap funding (VGF) of Rs 59 lakh per MW among three bidders in the latest solar auction conducted by Solar Energy Corporation of India (SECI).
The reserve price in SECI’s reverse auction is Rs 4.43 a unit. The winner has to supply electricity at the price it bid. The Ministry of New and Renewable Energy provides VGF, or subsidy, of up to Rs 1 crore per MW to solar developers.
The losing bids by Azure Power and Spectrum Coal and Power sought VGF of Rs 84 lakh and Rs 89 lakh, respectively.
In two other recent solar auctions as well – 400 MW in Andhra Pradesh in May and 125 MW in Uttar Pradesh in March – the winning tariff had been Rs 4.43 per unit.
Solar tariffs fell steeply in 2015, but this year, except for a single bid for a 70 MW project at the Bhadla Solar Park in Rajasthan of Rs 4.34 per unit, developers have refused to go below the SECI reserve price of Rs 4.43 per unit.
“It seems that many developers are now reaching the limit of their investment appetite,” said Jasmeet Khurana, associate director - consulting at solar consultancy B?ridge to India. “After a lot of aggression earlier, bids seem to have normalised.”
Even so, for Chhattisgarh, a tariff of Rs 4.43 per unit represents a steep reduction. “In the last solar auction, conducted by the state government in June 2014, the winning tariff had been Rs 6.44 per unit,” said SK Shukla, director at the Chhattisgarh Renewable Energy Development Agency. “Once this project is commissioned, our state’s renewable purchase obligation will be fulfilled.” All states have been allotted renewable purchase obligation targets, or the amount of electricity they must draw from renewable energy sources.
Shukla was unfazed by the fact that there were only three bidders, which suggested lukewarm interest in the auction.
“Who wants to go to Chhattisgarh with its Naxalite problem,” an executive at a leading solar developer told ET, explaining why his company had not bid. He noted that this was not a solar park auction — where the government acquires land and develops infrastructure — and developers would have to find their own land for the project.
Shukla was emphatic that leftwing extremism was not a threat. “Only a very small part of the state is affected,” he said. “The rest is peaceful and I would encourage people to set up projects here.”
He said Chhattisgarh was a power surplus state and also led the country in off-grid solar projects, with more than 50 MW of off-grid power. “All our medical colleges, public schools and more than 50 engineering colleges have installed off grid power, usually on their rooftops,” he said.
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 64.99 |
|
|
1 |
INR 89.91 |
|
Euro |
1 |
INR 80.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.