|
|
|
MIRA
INFORM REPORT
|
Report No. : |
498393 |
|
Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
NIDEC INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1115, JMD Megapolis, Sector-48, Sohna Road, Gurugram-122018, Haryana |
|
Tel. No.: |
91-124-4211769/71 / 4920273 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
16.12.2010 |
|
|
|
|
Com. Reg. No.: |
05-041709 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1793.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29100HR2010FTC041709 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0511010257 |
|
|
|
|
TIN No.: |
06881835584 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCN4843N |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
06AADCN4843N1Z4 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Electric Motors, Spindle Motors, Geared Motors, AC and DC Motors, Industrial Motors (Registered Activity and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
1000 (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 4180000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2010. It is a subsidiary of NIDEC
Singapore Pte. Limited, which holds 66.65% stake in the subject and the
remaining 33.35% was held by NIDEC Corporation Japan. The company is a manufacturer of Electric Motors, Spindle Motors, Geared Motors, AC and DC Motors, Industrial Motors etc. As per the financial records of 2017, the company has
achieved a massive growth in its revenue as compared to the previous year’s
revenue but has incurred operational losses. The company has sound capital structure. However, rating is
constrained on account of negative reserve base. Rating weakness is partially offset by the strength that the company
derives from its holding company and its experienced management team. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition.
|
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 20.03.2018
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 DETAILS)
|
Name : |
Mr. Swapnil |
|
Designation : |
Business Development Manager |
|
Contact No.: |
91-8800466614 |
|
Date : |
19.03.2018 |
LOCATIONS
|
Registered Office / Factory 1 : |
1115, JMD Megapolis, Sector-48, Sohna Road, Gurugram-122018, Haryana,
India |
|
Tel. No.: |
91-124-4211769/71 / 4920273 |
|
Mobile No.: |
91-8800466614 (Mr. Swapnil) |
|
Fax No.: |
91-124-4211769 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory 2 : |
Plot No. SP2-1 to SP2-4, New Industrial Complex, Majrakath, Neemrana,
District Alwar - 301714, Rajasthan, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Katsuhiko Takano |
|
Designation : |
Managing Director |
|
Address : |
4-14-34, Minami Tsukushino Machida Tokyo 1940001, Japan |
|
Date of Birth/Age : |
21.07.1952 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
05.10.2014 |
|
DIN No. : |
06743840 |
|
|
|
|
Name : |
Mr. Mikio Katayama |
|
Designation : |
Director |
|
Address : |
1-5-1 Tomigaoka 2 Nara - 6310004, Japan |
|
Date of Birth/Age : |
12.12.1957 |
|
Date of Appointment : |
30.10.2015 |
|
DIN No.: |
07326428 |
|
|
|
|
Name : |
Mr. Toshihiko Hirobe |
|
Designation : |
Director |
|
Address : |
6-27-310 Nishiyama-Cho Koyoen Nishinomiya Hyogo 6620017, Japan |
|
Date of Appointment : |
15.04.2016 |
|
DIN No.: |
07479672 |
|
|
|
|
Name : |
Mr. Toshihiko Miyabe |
|
Designation : |
Director |
|
Address : |
72, Shishigatani Hounenin Nishimachi Sakyo-Ku Kyoto - 6068427 Japan |
|
Date of Appointment : |
02.08.2016 |
|
DIN No.: |
07578963 |
|
|
|
|
Name : |
Mr. Tomohiko Hatori |
|
Designation : |
Director |
|
Address : |
294 Mida Kounosu Saitama Japan 3650062 Japan |
|
Date of Appointment : |
09.08.2017 |
|
DIN No.: |
07902037 |
|
|
|
|
Name : |
Mr. Hiroyuki Yoshimoto |
|
Designation : |
Director |
|
Address : |
1-29-12-2 Nozawa Setagaya-Ku Tokyo 1540003 Japan |
|
Date of Appointment : |
09.08.2017 |
|
DIN No.: |
07902053 |
KEY EXECUTIVES
|
Name : |
Mr. Lokesh Taneja |
|
Designation : |
Company Secretary |
|
Address : |
P-2, Model Town, Rewari-123401, Haryana, India |
|
Date of Birth/Age : |
22.04.1974 |
|
Date of Appointment : |
20.05.2015 |
|
PAN No.: |
ACAPT8493Q |
|
|
|
|
Name : |
Mr. Swapnil |
|
Designation : |
Business Development Manager |
MAJOR SHAREHOLDERS
As on 15.09.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
NIDEC Singapore Pte. Limited, Singapore |
1195000 |
66.65 |
|
NIDEC Corporation, Japan |
598000 |
33.35 |
|
Total |
1793000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 15.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Electric Motors, Spindle Motors, Geared Motors, AC and DC Motors, Industrial Motors (Registered Activity and also Confirmed by management) |
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Products / Services
: |
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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 : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Advance Payment, Cheque, Credit and Others (RTGS) |
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Purchasing : |
Advance Payment, Cheque, Credit and Others (RTGS) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
V. K. Verma and Company Chartered Accountants |
|
Address : |
C-37, Connaught Place, Delhi, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFV4855E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
NIDEC Singapore Pte. Limited., Singapore |
|
|
|
|
Other related
parties : |
· NIDEC Corporation Japan · NIDEC Sankyo Singapore Pte. Limited, Singapore · NIDEC Techno Motor Corporation, Japan · NIDEC Motor Corporation · NIDEC Dailan Limited (China) · NIDEC Machinery Corporation, China · NIDEC Machinery (Zheziang) Corporation · NIDEC Motor and Actuators (Poland) SP Zoo · NIDEC Motor (Qingdao) Corporation (Sale of Products) · NIDEC Shibaura Electronics (Thailand) Company Limited · NIDEC Vietnam Corporation · NIDEC Motors and Actuators (Spain) · NIDEC Shibaura (Zheziang) Company Limited |
CAPITAL STRUCTURE
After 15.09.2017
Authorised Capital : INR 2233.000 million
Issued, Subscribed & Paid-up Capital : INR 1993.000
million
As on 15.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1793000 |
Equity Shares |
INR 1000/- each |
INR 1793.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1793000 |
Equity Shares |
INR 1000/- each |
INR 1793.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
1793.000 |
1443.000 |
1084.000 |
|
(b) Reserves and Surplus |
(329.195) |
(210.328) |
(18.352) |
|
(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) |
1463.805 |
1232.672 |
1065.648 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
474.565 |
70.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
62.089 |
14.854 |
0.000 |
|
(c) Other long-term
liabilities |
0.095 |
0.020 |
0.000 |
|
(d) long-term
provisions |
4.403 |
2.929 |
0.690 |
|
Total Non-current
Liabilities (3) |
541.152 |
87.803 |
0.690 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
399.009 |
225.819 |
5.701 |
|
(c) Other
current liabilities |
147.403 |
64.143 |
3.104 |
|
(d) Short-term
provisions |
0.820 |
0.098 |
1.263 |
|
Total Current
Liabilities (4) |
547.232 |
290.060 |
10.068 |
|
|
|
|
|
|
TOTAL |
2552.189 |
1610.535 |
1076.406 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1385.227 |
955.241 |
2.691 |
|
(ii)
Intangible Assets |
3.660 |
0.159 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
356.537 |
425.222 |
900.517 |
|
(iv)
Intangible assets under development |
2.883 |
3.221 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.644 |
|
(d)
Long-term loans and advances |
2.369 |
3.916 |
29.038 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1750.676 |
1387.759 |
932.890 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
169.349 |
32.638 |
0.000 |
|
(c) Trade receivables |
164.287 |
0.361 |
8.144 |
|
(d) Cash and bank balances |
215.021 |
32.902 |
122.026 |
|
(e) Short-term loans and advances |
169.116 |
86.909 |
12.902 |
|
(f) Other current assets |
83.740 |
69.966 |
0.444 |
|
Total
Current Assets |
801.513 |
222.776 |
143.516 |
|
|
|
|
|
|
TOTAL |
2552.189 |
1610.535 |
1076.406 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
495.284 |
68.135 |
67.730 |
|
|
Other Income |
82.744 |
13.938 |
8.405 |
|
|
TOTAL |
578.028 |
82.073 |
76.135 |
|
|
|
(Due to Business Growth) |
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
292.317 |
0.634 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
12.584 |
1.446 |
0.186 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(11.386) |
0.000 |
0.000 |
|
|
Employee benefit expense |
157.400 |
94.940 |
40.417 |
|
|
Other expenses |
115.018 |
114.233 |
24.806 |
|
|
Exceptional items |
(10.568) |
10.568 |
0.000 |
|
|
Extraordinary items |
0.000 |
0.000 |
33.929 |
|
|
TOTAL |
555.365 |
221.821 |
99.338 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
22.663 |
(139.748) |
(23.203) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.004 |
2.341 |
0.037 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.659 |
(142.089) |
(23.240) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
78.291 |
34.389 |
0.896 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(71.632) |
(176.478) |
(24.136) |
|
|
|
|
|
|
|
Less |
TAX |
47.235 |
15.498 |
3.046 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(118.867) |
(191.976) |
(27.182) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(66.29) |
(133.04) |
(18.84) |
Expected Sales (2017-2018): INR 600.000 Million
The above information has been parted by Mr. Swapnil (Business
Development Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
55.499 |
0.000 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(148.244) |
(13.879) |
(64.666) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
121.07 |
1.93 |
43.89 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.01 |
188.74 |
8.32 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
477.66 |
39626.89 |
11187.45 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.13 |
(4.28) |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.01 |
(0.10) |
(0.03) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.42 |
0.22 |
0.01 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.36 |
0.06 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.37 |
0.24 |
0.01 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.19 |
1.12 |
0.85 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.42 |
(59.70) |
(627.11) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(24.00) |
(281.76) |
(40.13) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(4.66) |
(11.92) |
(2.53) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(8.12) |
(15.57) |
(2.55) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.46 |
0.77 |
14.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.16 |
0.66 |
14.25 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.57 |
0.77 |
0.99 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.30 |
0.05 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.46 |
0.77 |
14.25 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1084.000 |
1443.000 |
1793.000 |
|
Reserves & Surplus |
(18.352) |
(210.328) |
(329.195) |
|
Net
worth |
1065.648 |
1232.672 |
1463.805 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
70.000 |
474.565 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
70.000 |
474.565 |
|
Debt/Equity
ratio |
0.000 |
0.057 |
0.324 |
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 |
67.730 |
68.135 |
495.284 |
|
|
|
0.598 |
626.916 |
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 |
67.730 |
68.135 |
495.284 |
|
Profit/ (Loss) |
(27.182) |
(191.976) |
(118.867) |
|
|
(40.13%) |
(281.76%) |
(24.00%) |
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 |
Yes |
|
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) |
Yes |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
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% |
Yes |
|
28] |
Estimation for coming financial year |
Yes |
|
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 |
OPERATIONAL
PERFORMANCE:
During the financial year, the company has started the commercial production of all three business units and has also provided the business support to its group companies. Company is getting good response from the Market. Our parent company has committed requisite funds in order to remit necessary funds for capital equipments and pre-operative expenses.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Foreign currency term loans from others |
197.064 |
0.000 |
|
Total |
197.064 |
0.000 |
INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY
FIXED ASSETS
Tangible Asset:
- Land
- Building
- Factory building
- Plant and equipment
- Office equipment
- Furniture and Fixture
- Computer equipments
- Vehicles
Intangible Asset:
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
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 64.87 |
|
UK Pound |
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
NIY |
|
|
|
|
Analysis Done by
: |
SHA |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·