|
|
|
MIRA INFORM REPORT
|
Report No. : |
498288 |
|
Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MERCEDES-BENZ INDIA PRIVATE LIMITED (w.e.f. 15.02.2008) |
|
|
|
|
Formerly Known
As : |
DAIMLERCHRYSLER INDIA
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-3, MIDC Chakan, Phase III, Chakan Industrial Area, Kuruli and
Nighoje, Taluka Khed, Chakan, Pune - 410501, Maharashtra |
|
Tel. No.: |
91-2135-673000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
22.11.1994 |
|
|
|
|
Com. Reg. No.: |
11-083160 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 6000.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34102PN1994PTC083160 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
3194008714 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
Tel No.: |
27830247763 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM1789L |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCM1789L1Z0 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing and Trading of passenger cars and commercial vehicles. (Registered Activity) |
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|
|
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 |
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is a wholly owned subsidiary of ‘Daimler AG, Germany and was incorporated in the year 1994. It is having excellent track records. The company is engaged in manufacturing, importing and assembling cars. Its operations in India covers several domains which include local production of Mercedes-Benz cars, making available imported Mercedes-Benz cars, commercial vehicle operations, global sourcing of auto components and captive automotive technology research and development. As per Registrar Of Companies the date of balance sheet (i.e. financial filed) is shown as 31-03-2017 but the documents related to the financial for the year 2017 are not available from any sources. As per available financials of 2016, the company has increased its revenue from operation as compared to previous year and maintained decent profitability margin of 5.79%. Rating takes into consideration strong financial profile of the company marked by healthy networth base and negligible debt balance sheet. Further, rating also reflects to strong managerial and financial support received from its holding company along with experienced and professionally managed promoter group, established track records of business operations. Furthermore, the company has decent brand name in premium car segment backed by its wide spread business networks and well established marked position in the premium auto segment. However, rating strength is partially offset by intense competition from other reputed players in the automobile industry. Trade relations are reported as fair. Payments are reported to be regular and as per commitment. In view of established market position, the company can be considered good for normal 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.
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 16.03.2018
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 DECLINED
Management non-cooperative (Tel No.:91-2135-673000
/ 395000)
LOCATIONS
|
Registered / Corporate Office / Factory : |
E – 3, MIDC Chakan, Phase III, Chakan Industrial Area, Kuruli and Nighoje,
Taluka Khed, Chakan, Pune - 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-673000/ 395000 |
|
Fax No.: |
91-2135-673953 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Roland Sebastian Folger |
|
Designation : |
Managing Director |
|
Address : |
40, Lorong Ceylon, Georgetown, 10050, Malaysia |
|
Date of Appointment : |
01.10.2015 |
|
DIN No.: |
07297726 |
|
|
|
|
Name : |
Manfred Ausweger |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. 801, The Address Co-Operative Society, Boat Club Road, Pune-411001, Maharashtra, India |
|
Date of Appointment : |
13.06.2016 |
|
DIN No.: |
07540306 |
|
|
|
|
Name : |
Mr. Piyush Shailendra Arora |
|
Designation : |
Whole-Time Director |
|
Address : |
143/153 Brooklyn Heights Clover Water, Garden Road No. 7, Central Avenue Kalyani Nagar, Pune - 411014, Maharashtra, India |
|
Date of Appointment : |
26.11.2014 |
|
DIN No.: |
06991008 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Atre Govind |
|
Designation : |
Company Secretary |
|
Address : |
H-601, Ruturang Apartments, 49/1 Parvati, Pune - 411009, Maharashtra, India |
|
Date of Appointment : |
01.05.2017 |
|
PAN No.: |
ADWPA1012H |
MAJOR SHAREHOLDERS
As on 25.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Daimler AG |
|
599999999 |
|
Roland Sebastian Folger |
|
01* |
|
Total |
|
600000000 |
* Director holding one share of INR10/- as a nominee of Daimler AG
(Foreign Holding Company)
As on 25.09.2017
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided Family – Foreign national (other than NRI)] |
0.00000017 |
|
Promoters (Bodies corporate) |
99.99999983 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of passenger cars and commercial vehicles. (Registered Activity) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Pune - 411001, Maharashtra, India |
|
Tel. No.: |
91-20-30585764/ 30585765 / 30585775 |
|
Fax No.: |
91-20-30585775 |
|
Website : |
http://www.in.kpmg.com |
|
PAN No: |
AAAFB9852F |
|
|
|
|
Internal Auditors : |
Dhananjay V. Joshi and Associates Cost Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Parties where
control exists : |
Daimler AG (Holding company holds 100% of the equity share capital as at 31 March 2016) |
|
|
|
|
Institutions
controlled : |
|
|
|
|
|
Fellow subsidiaries
: |
|
CAPITAL STRUCTURE
As on 25.09.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
INR 10/- each |
INR 6000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
INR 10/- each |
INR 6000.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
6000.000 |
6000.000 |
6000.000 |
|
(b) Reserves &
Surplus |
9216.000 |
6421.000 |
3399.000 |
|
(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) |
15216.000 |
12421.000 |
9399.000 |
|
|
|
||
|
(3) Non-Current
Liabilities |
|
||
|
(a) long-term borrowings |
9730.000 |
4978.000 |
6111.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
31.000 |
24.000 |
32.000 |
|
(d) long-term provisions |
4899.000 |
6123.000 |
6012.000 |
|
Total Non-current
Liabilities (3) |
14660.000 |
11125.000 |
12155.000 |
|
|
|
||
|
(4) Current Liabilities |
|
||
|
(a) Short term borrowings |
333.000 |
0.000 |
0.000 |
|
(b) Trade payables |
9438.000 |
6173.000 |
3592.000 |
|
(c) Other current liabilities |
7283.000 |
5077.000 |
2495.000 |
|
(d) Short-term provisions |
3516.000 |
3062.000 |
633.000 |
|
Total Current Liabilities
(4) |
20570.000 |
14312.000 |
6720.000 |
|
|
|
||
|
TOTAL |
50446.000 |
37858.000 |
28274.000 |
|
|
|
||
|
II.
ASSETS |
|
||
|
(1) Non-current assets |
|
||
|
(a) Fixed Assets |
|
||
|
(i) Tangible assets |
3165.000 |
2696.000 |
2083.000 |
|
(ii) Intangible Assets |
86.000 |
75.000 |
60.000 |
|
(iii) Capital
work-in-progress |
4092.000 |
927.000 |
2498.000 |
|
(iv) Intangible assets
under development |
10.000 |
19.000 |
10.000 |
|
(b) Non-current
Investments |
126.000 |
126.000 |
126.000 |
|
(c) Deferred tax assets
(net) |
1866.000 |
1179.000 |
728.000 |
|
(d) Long-term Loan and Advances |
10951.000 |
12511.000 |
8167.000 |
|
(e) Other Non-current
assets |
87.000 |
100.000 |
66.000 |
|
Total Non-Current Assets |
20383.000 |
17633.000 |
13738.000 |
|
|
|
||
|
(2) Current assets |
|
||
|
(a) Current investments |
0.000 |
0.000 |
960.000 |
|
(b) Inventories |
14563.000 |
6810.000 |
4307.000 |
|
(c) Trade receivables |
9609.000 |
7942.000 |
6535.000 |
|
(d) Cash and cash
equivalents |
1876.000 |
4020.000 |
625.000 |
|
(e) Short-term loans and
advances |
3953.000 |
1350.000 |
1485.000 |
|
(f) Other current assets |
62.000 |
103.000 |
624.000 |
|
Total Current Assets |
30063.000 |
20225.000 |
14536.000 |
|
|
|
||
|
TOTAL |
50446.000 |
37858.000 |
28274.000 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
48278.000 |
41821.000 |
30296.000 |
|
|
Other Income |
311.000 |
342.000 |
235.000 |
|
|
TOTAL |
48589.000 |
42163.000 |
30531.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
32499.000 |
20545.000 |
14315.000 |
|
|
Purchases of
Stock-in-Trade |
7961.000 |
12430.000 |
7617.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(3747.000) |
(1711.000) |
176.000 |
|
|
Employee benefit expense |
1277.040 |
1112.140 |
914.800 |
|
|
CSR expenditure |
47.000 |
12.000 |
0.000 |
|
|
Other expenses |
5078.960 |
4424.860 |
4046.200 |
|
|
TOTAL |
43116.000 |
36813.000 |
27069.000 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
5473.000 |
5350.000 |
3462.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
802.000 |
506.000 |
445.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
4671.000 |
4844.000 |
3017.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
383.000 |
306.000 |
207.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
4288.000 |
4538.000 |
2810.000 |
|
|
|
|
|
|
|
Less |
TAX |
1491.000 |
1514.000 |
903.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
2797.000 |
3024.000 |
1907.000 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
9.000 |
5.000 |
93.000 |
|
|
TOTAL EARNINGS |
9.000 |
5.000 |
93.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
22226.000 |
12280.000 |
8450.000 |
|
|
Capital goods |
1457.000 |
825.000 |
811.000 |
|
|
Spares and tools |
2673.000 |
2144.000 |
2079.000 |
|
|
CBU Cars / Trucks / Bus
chassis and parts |
2456.000 |
4419.000 |
2144.000 |
|
|
TOTAL IMPORTS |
28812.000 |
19668.000 |
13484.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.66 |
5.04 |
3.00 |
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 |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
595.000 |
7329.000 |
1133.000 |
|
Net cash flows from (used in) operating activities |
(1212.000) |
5398.000 |
200.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
72.65 |
69.32 |
78.73 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.02 |
5.27 |
4.64 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
85.14 |
68.33 |
59.78 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.38 |
0.79 |
0.80 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.74 |
1.44 |
0.74 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.60 |
0.51 |
0.45 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.66 |
0.40 |
0.65 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
1.35 |
1.15 |
0.71 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.48 |
0.30 |
0.49 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
6.82 |
10.57 |
7.78 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
5.79 |
7.23 |
6.29 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.54 |
7.99 |
6.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
18.38 |
24.35 |
20.29 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.46 |
1.41 |
2.16 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.75 |
0.94 |
1.52 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.30 |
0.33 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.68 |
0.83 |
1.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.46 |
1.41 |
2.16 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are in
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
in Million) |
(INR
in Million) |
(INR
in Million) |
|
Share Capital |
6000.000 |
6000.000 |
6000.000 |
|
Reserves & Surplus |
3399.000 |
6421.000 |
9216.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
9399.000 |
12421.000 |
15216.000 |
|
|
|
|
|
|
long-term borrowings |
6111.000 |
4978.000 |
9730.000 |
|
Short term borrowings |
0.000 |
0.000 |
333.000 |
|
Total
borrowings |
6111.000 |
4978.000 |
10063.000 |
|
Debt/Equity
ratio |
0.650 |
0.401 |
0.661 |
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 |
30296.000 |
41821.000 |
48278.000 |
|
|
|
38.041 |
15.440 |
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 |
30296.000 |
41821.000 |
48278.000 |
|
Profit |
1907.000 |
3024.000 |
2797.000 |
|
|
6.29% |
7.23% |
5.79% |
LEGAL
CASES
|
LITIGATION DETAILS |
||||
|
Bench:- Bombay Presentation Date : 18.01.2017 |
||||
|
Lodging No. : |
ITXAL/199/2017 |
Failing Date:- |
09.02.2016 |
|
|
Petitioner:- |
THE PR. COMMISSIONER OF INCOME TAX |
Respondent:- |
MERCEDES BENZ INDIA PRIVATE LIMITED |
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Petn.Adv:- |
SURESH KUMAR (I2100) |
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District:- |
MUMBAI |
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Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
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Status:- |
Pre-Admission |
Stage:- |
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Next Date:- |
25.01.2017 |
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Coram:- |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
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Act. : |
Income Tax Act, 1961 |
Under Section : 260A |
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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 |
No |
|
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 |
Yes |
|
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 |
Yes |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
Subject is a 100% subsidiary of Daimler AG ('DAG'). The Company has its production facilities at MIDC Chakan, Phase - III, Pune for manufacture and trading of passenger cars and commercial vehicles.
OPERATIONS
During the year, total revenue (excluding Non-operative Income) increased to INR 48278.000 million from INR 41821.000 million registered in the previous year. The Company has made a net profit after tax of INR 2797.000 million as against a net profit after tax of INR 3024.000 million in the previous year.
UNSECURED LOAN
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
SHORT TERM
BORROWING |
|
|
|
Term loans from others |
NA |
4978.000 |
|
Total |
NA |
4978.000 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Office Building
- Factory Building
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Motor Vehicles
- Office Equipment
- Computer Equipments
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.10 |
|
|
1 |
INR 79.59 |
|
Euro |
1 |
INR 90.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
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.