|
|
|
MIRA INFORM REPORT
|
Report No. : |
496748 |
|
Report Date : |
14.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
FAGIOLI INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
104, A-Wing, Delphi Building Hiranandani Business Park, Powai
Mumbai – 400076, Maharashtra |
|
Mobile No.: |
91-9768683427 (Mr. Santosh Upadhyay) 91-9820620029 (Mr. Shailesh Shirwodkar) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
19.07.2001 |
|
|
|
|
Com. Reg. No.: |
11- 132799 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.669 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63090MH2001PTC132799 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF6372K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the business of heavy lifting, heavy transportation and
installation of heavy items for the power, petrochemical, civil and offshore
industries. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 230000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject acts as a subsidiary of “Fagioli Limited, UK” and it was incorporated in the year 2001 having satisfactory track record. The subject is engaged in the business of providing international heavy transportation, domestic heavy transportation, project logistics management, supply chain management, international freight forwarding, relocation of machinery and related services to construction, petrochemical, offshore, power, civil and other industry. Management has failed to file its financials for the year 2017 with Registrar of Companies. As per available financials of March 2016, the company has achieved massive growth in its revenue as compared to its previous year but has incurred losses during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base and strong debt coverage indicators due to zero debt balance sheet profile. Rating continue to derive strength from its established track record of its business operations backed by its well-experienced management team along with strong financial support from its holding entity. However, these rating strengths gets partially offset by continuous operational losses due to exposure of company’s revenues and margin to cyclicality present in international trade, intense competitive pressure from other organized as well as unorganized players operating in the fragmented freight forwarding industry. Payments seems to be slow but correct. In view of aforesaid, the subject 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
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 14.03.2018
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 BY
|
Name : |
Mr. Santosh Upadhyay |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9768683427 |
|
|
|
|
Name : |
Mr. Shailesh Shirwodkar |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9820620029 |
|
|
|
|
Date : |
14.03.2018 |
91-8976540823 – Switch off
LOCATIONS
|
Registered Office : |
104, A-Wing, Delphi Building Hiranandani Business Park,
Powai Mumbai – 400076, Maharashtra, India |
|
Tel. No.: |
91-22-42234700 |
|
Mobile No.: |
91-9768683427 (Mr. Santosh Upadhyay) 91-9820620029 (Mr. Shailesh Shirwodkar) |
|
Fax No.: |
91-22-42234730 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Cesare Saccani |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
Frazione Petite Golette, 47 Lathuile 11016, Italy |
||||||||||||
|
Date of Appointment : |
16.11.2015 |
||||||||||||
|
DIN No.: |
02088715 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Riccardo Paolo Tippmann |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
Milano Via Barce N 6 Austriaca 0 AT |
||||||||||||
|
Date of Birth/Age : |
07.02.1957 |
||||||||||||
|
Date of Appointment : |
30.09.2010 |
||||||||||||
|
DIN No.: |
02648979 |
||||||||||||
|
Other Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Moreno Massetti |
||||||||||||
|
Designation : |
Director |
||||||||||||
|
Address : |
Via 0 Lizzadri N 17 Gattatico Re Coniugato 0, Italy |
||||||||||||
|
Date of Birth/Age : |
03.02.1968 |
||||||||||||
|
Date of Appointment : |
30.09.2010 |
||||||||||||
|
DIN No.: |
03043288 |
||||||||||||
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Fagioli Limited, United Kingdom |
|
99999 |
|
Mr. Alessandro Fagioli (Nominee of Fagioli Limited, United Kingdom |
|
1 |
|
Fagioli SPA, Italy |
|
41211 |
|
Simest SPA, Italy |
|
25695 |
|
Total |
|
166906 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.12.2016
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Foreign national (other than NRI) |
0.00059914 |
|
Promoters- Body corporate |
59.91336441 |
|
Public/Other than promoters - Body corporate |
40.08603645 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of heavy lifting, heavy transportation and installation
of heavy items for the power, petrochemical, civil and offshore industries.
[Registered Activity] |
||||
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||||
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Products / Services
: |
|
||||
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|
||||
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Brand Names : |
Not Available |
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|
||||
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
||||
|
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|
||||
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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 denied by the management |
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Tower 3, 27th-32nd Floor, Indiabulls Finance, Centre, Elphinstone Mill
Compound, Elphinstone (West), Mumbai-400013, Maharashtra, India |
|
Tel. No.: |
91-22-61854000 |
|
Fax No.: |
91-22-61854101 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFD2337G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company (AS ON 31.03.2016): |
|
|
|
|
|
Ultimate Holding Company (AS ON 31.03.2016): |
|
|
|
|
|
Fellow subsidiary (with whom transactions are carried out during the
year) (AS ON 31.03.2016): |
|
|
|
|
|
Company over which the holding company exercises significant influence
(AS ON 31.03.2016): |
|
|
|
|
|
Enterprises over which key management personnel is able to exercise
significant influence (with whom transactions are carried out during the
year) (AS ON 31.03.2016): |
|
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
INR 10/- each |
INR 3.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
166906 |
Equity Shares |
INR 10/- each |
INR 1.669 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.669 |
1.669 |
1.669 |
|
(b) Reserves &
Surplus |
78.234 |
83.148 |
110.782 |
|
(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) |
79.903 |
84.817 |
112.451 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
1.149 |
0.199 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.597 |
0.555 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.597 |
1.704 |
0.199 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
258.019 |
131.711 |
81.454 |
|
(c) Other current
liabilities |
67.161 |
38.861 |
12.491 |
|
(d) Short-term provisions |
0.841 |
0.717 |
0.471 |
|
Total Current Liabilities
(4) |
326.021 |
171.289 |
94.416 |
|
|
|
|
|
|
TOTAL |
406.521 |
257.810 |
207.066 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
121.500 |
59.855 |
63.502 |
|
(ii) Intangible Assets |
0.501 |
0.696 |
0.619 |
|
(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 |
38.537 |
32.002 |
28.610 |
|
(e) Other Non-current
assets |
4.728 |
1.347 |
0.000 |
|
Total Non-Current Assets |
165.266 |
93.900 |
92.731 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.038 |
|
(b) Inventories |
29.893 |
10.383 |
11.060 |
|
(c) Trade receivables |
168.390 |
120.500 |
85.069 |
|
(d) Cash and cash
equivalents |
25.035 |
13.850 |
11.061 |
|
(e) Short-term loans and
advances |
17.749 |
5.981 |
5.709 |
|
(f) Other current assets |
0.188 |
13.196 |
1.398 |
|
Total Current Assets |
241.255 |
163.910 |
114.335 |
|
|
|
|
|
|
TOTAL |
406.521 |
257.810 |
207.066 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
320.321 |
156.750 |
170.922 |
|
|
Other Income |
2.313 |
15.574 |
0.078 |
|
|
TOTAL |
322.634 |
172.324 |
171.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
27.196 |
30.174 |
24.250 |
|
|
Other expenses |
288.140 |
161.074 |
150.820 |
|
|
TOTAL |
315.336 |
191.248 |
175.070 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
7.298 |
(18.924) |
(4.070) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
3.223 |
0.887 |
0.345 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
4.075 |
(19.811) |
(4.415) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.137 |
6.674 |
4.339 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(6.062) |
(26.485) |
(8.754) |
|
|
|
|
|
|
|
Less |
TAX |
(1.149) |
1.149 |
(5.629) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(4.913) |
(27.634) |
(3.125) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Stores and Spare parts |
11.268 |
9.504 |
5.181 |
|
|
Capital Goods |
55.737 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
67.005 |
9.504 |
5.181 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(29.44) |
(165.57) |
(18.72) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
36.702 |
11.607 |
10.532 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
29.910 |
5.667 |
3.940 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
191.88 |
280.59 |
181.66 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.90 |
1.30 |
2.01 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.24 |
(1.82) |
(0.37) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.06 |
(0.31) |
(0.06) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.80 |
0.66 |
0.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.08 |
2.02 |
0.84 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.53 |
0.71 |
0.57 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.26 |
(21.33) |
(11.80) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(1.53) |
(17.63) |
(1.83) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(1.21) |
(10.72) |
(1.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(6.15) |
(32.58) |
(2.78) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.74 |
0.96 |
1.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.65 |
0.90 |
1.09 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.20 |
0.33 |
0.54 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.74 |
0.96 |
1.21 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR In
Million |
|
Share Capital |
1.669 |
1.669 |
1.669 |
|
Reserves & Surplus |
110.782 |
83.148 |
78.234 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
112.451 |
84.817 |
79.903 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
170.922 |
156.750 |
320.321 |
|
|
|
(8.292) |
104.352 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
170.922 |
156.750 |
320.321 |
|
Profit |
(3.125) |
(27.634) |
(4.913) |
|
|
(1.83%) |
(17.63%) |
(1.53%) |
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 |
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 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 CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B89699854 |
10378252 |
INDIA FACTORING
AND FINANCE SOLUTIONS PRIVATE LIMITED |
31/08/2012 |
07/11/2013 |
20000000.0 |
6TH FLOOR, VAIBHAV
CHAMBERS, OPPOSITE INCOME TAX,BANDRA- KURLA COMPLEX, BANDRA
(EAST)MUMBAIMH400051IN |
CONTINGENT
LIABILITIES
(INR
IN Million)
|
Particulars |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
Claims against the company not acknowledged as debt |
|
|
|
Income tax |
1.184 |
8.981 |
|
Sales tax |
0.006 |
0.006 |
|
Service Tax |
0.288 |
0.288 |
|
Cost of improvement and refurbishment in respect of premises taken on rent by the company |
7.530 |
7.530 |
|
Indemnity given to customs authorities for complying with stipulations of re-export within stipulated time. |
30.000 |
30.000 |
FIXED ASSETS:
Tangible Assets
- Building
- Plant and Equipment
- Computer
- Office Equipment
- Furniture and Fixtures
Intangible Assets
- Software License
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 64.96 |
|
|
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KVT |
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.