|
|
|
MIRA INFORM REPORT
|
Report No. : |
498575 |
|
Report Date : |
21.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
K LALCHAND PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1017/1018, Dalmal Tower, 10th Floor, Nariman Point, Mumbai – 400021,
Maharashtra |
|
Tel. No.: |
91-22-28955014 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
05.09.1963 |
|
|
|
|
Com. Reg. No.: |
11-012717 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.949 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1963PTC012717 |
|
|
|
|
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.] |
AABCK2480Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The
company is engaged in the business of trading of shares and derivatives and
renting of immovable property. [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 59000 INR 4160600 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “V K Lalco Private Limited” incorporated
in the year 1963 having a satisfactory track record. For the financial year 2017, the company has achieved decent growth in
its revenue as compared to its previous year but has shown decline in its
profitability. Rating takes into consideration, the healthy financial risk profile
marked by adequate networth base and strong debt protection metrics. Rating continue to derive strength from its long and established track
record of its business operation backed by its well-established management
team along with strong financial and managerial support from its holding
entity. However, these ratings gets partially offset by its negative reserve
level and losses from its operations along with its presence in highly competitive
and fragmented consumer retail industry. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
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 21.03.2018
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. Vivek Kamble |
|
Designation : |
Engineer |
|
Contact No.: |
91-9987109935 |
|
Date : |
20.03.2018 |
Management Non-Cooperative (91-22-28955014)
LOCATIONS
|
Registered Office : |
1017/1018, Dalmal Tower, 10th Floor, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-28955014 / 22824191 / 22842123 / 22833089 |
|
Mobile No.: |
91-9987109935 (Mr. Vivek Kamble) |
|
Fax No.: |
91-22-22833118 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Haresh Khiamal Nanwani |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
112, Ashoka Apartments, 68, Rungta Lane, Neapensea Road, Mumbai –
400006, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.10.1973 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00271677 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Anita H Nanwani |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
1017/18, Dalamal Tower, 10th Floor, Nariman Point, Mumbai – 400021,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2007 |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02068858 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Vivek Kamble |
|
Designation : |
Engineer |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Haresh K Nanwani |
|
4 |
|
Anita H Nanwani |
|
3 |
|
Tyabji Estates Private Limited |
|
3835 |
|
V K Lalco Private Limited |
|
15650 |
|
|
|
|
|
Total |
|
19492 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
0.04 |
|
Promoters [Bodies
corporate] |
99.96 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
company is engaged in the business of trading of shares and derivatives and
renting of immovable property. [Registered Activity] |
||||||
|
|
|
||||||
|
Products / Services
: |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
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Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
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 |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
NOTES: LONG TERM BORROWINGS New term loan aggregated to INR 9.900 million includes current maturities of long term debt of INR 9.900 million is secured against immovable property of company at the interest rate of 12%, repayable in equated monthly instalments of INR 0.265 million from March 2014, over 7 years. |
|
Auditors : |
|
|
Name : |
G. P. Kapadia and Company Chartered Accountants |
|
Address : |
61, 63, 65-A Mittal Tower, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-40833444 / 40833401 to 13 |
|
Fax No.: |
91-22-40833416 / 17 |
|
E-Mail : |
|
|
PAN No.: |
AAAFK1144P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
·
V. K. Lalco Private Limited
[U17100MH1962PTC012358] |
|
|
|
|
Associate : |
·
Ardour Builders Private Limited
[U45202MH1990PTC055570] |
|
|
|
|
Other related parties : |
·
Lalco Residency LLP ·
Lalco Service Apartment LLP ·
Tyabji Estates Private Limited ·
Bay Berry Apartment Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 100/- each |
INR 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19492 |
Equity Shares |
INR 100/- each |
INR 1.949 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.949 |
1.949 |
1.949 |
|
(b) Reserves & Surplus |
18.854 |
17.479 |
13.509 |
|
(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) |
20.803 |
19.428 |
15.458 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.680 |
10.845 |
13.672 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
14.571 |
7.199 |
0.549 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
15.251 |
18.044 |
14.221 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
357.965 |
358.089 |
364.269 |
|
(b) Trade
payables |
0.104 |
6.163 |
0.000 |
|
(c) Other current
liabilities |
0.114 |
0.153 |
7.266 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
358.183 |
364.405 |
371.535 |
|
|
|
|
|
|
TOTAL |
394.237 |
401.877 |
401.214 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
0.000 |
0.000 |
0.000 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
358.205 |
356.214 |
358.008 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
28.232 |
27.520 |
27.501 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
386.437 |
383.734 |
385.509 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1.008 |
17.503 |
13.902 |
|
(c) Trade
receivables |
6.518 |
0.448 |
0.363 |
|
(d) Cash
and cash equivalents |
0.254 |
0.185 |
0.439 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
1.000 |
|
(f) Other
current assets |
0.020 |
0.007 |
0.001 |
|
Total
Current Assets |
7.800 |
18.143 |
15.705 |
|
|
|
|
|
|
TOTAL |
394.237 |
401.877 |
401.214 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
28.900 |
13.287 |
25.203 |
|
|
|
Other Income |
1.532 |
0.566 |
(2.186) |
|
|
|
TOTAL |
30.432 |
13.853 |
23.017 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
12.217 |
2.620 |
12.516 |
|
|
|
Changes in Inventories of stock-in-trade |
10.567 |
(0.330) |
0.000 |
|
|
|
Direct expenses |
0.000 |
0.000 |
0.033 |
|
|
|
Extraordinary items |
0.000 |
0.000 |
1.391 |
|
|
|
Employees benefits expense |
1.505 |
2.310 |
0.636 |
|
|
|
Other expenses |
3.415 |
3.076 |
1.176 |
|
|
|
TOTAL |
27.704 |
7.676 |
15.752 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2.728 |
6.177 |
7.265 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.353 |
1.510 |
1.614 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.375 |
4.667 |
5.651 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
1.375 |
4.667 |
5.651 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.631 |
2.382 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
1.375 |
4.036 |
3.269 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
70.57 |
207.00 |
167.70 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from / (used in) operating activities |
5.598 |
(6.041) |
(12.623) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
82.32 |
12.31 |
5.26 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.43 |
29.66 |
69.43 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
3.11 |
858.59 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.71 |
0.35 |
0.52 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.00 |
0.00 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.91 |
0.93 |
0.96 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
17.24 |
18.99 |
24.45 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
17.22 |
18.76 |
24.04 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.02 |
4.09 |
4.50 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
4.76 |
30.38 |
12.97 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.35 |
1.00 |
0.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
6.61 |
20.77 |
21.15 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.02 |
0.05 |
0.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.02 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.05 |
0.05 |
0.04 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
184.01 |
189.29 |
193.92 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.02 |
0.05 |
0.04 |
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 |
1.949 |
1.949 |
1.949 |
|
Reserves & Surplus |
13.509 |
17.479 |
18.854 |
|
Net
worth |
15.458 |
19.428 |
20.803 |
|
|
|
|
|
|
Long Term borrowings |
13.672 |
10.845 |
0.680 |
|
Short Term borrowings |
364.269 |
358.089 |
357.965 |
|
Total
borrowings |
377.941 |
368.934 |
358.645 |
|
Debt/Equity
ratio |
24.450 |
18.990 |
17.240 |
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
|
25.203 |
13.287 |
28.900 |
|
|
|
(47.280) |
117.506 |
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
|
25.203 |
13.287 |
28.900 |
|
Profit/(Loss) |
3.269 |
4.036 |
1.375 |
|
|
12.97% |
30.38% |
4.76% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Company
Background:
Company is a private company, incorporated in India under the provisions
of the companies act, 2013. The company is engaged in the business of trading of shares and
derivatives and renting of immovable property
Brief description of the company’s working during
the year/state of company’s affair:
The company
business has increase of earlier year’s business. It is expected that the
market will improve in future as it works at an improving economic condition.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
From others |
|
|
|
Bay Berry Apt
Private Limited |
0.680 |
0.680 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
From related parties |
|
|
|
Tyabji Estates
Private Limited |
338.600 |
152.309 |
|
Haresh K. Nanwani |
18.770 |
5.380 |
|
Anita Nanwani |
0.595 |
0.400 |
|
|
|
|
|
Total |
358.645 |
158.769 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G69302321 |
100138505 |
INDIA INFOLINE HOUSING FINANCE LIMITED |
31/08/2017 |
- |
- |
70000000.0 |
12A-10, 13TH FLOOR, PARINEE CRESCENZO, G BLOCKC-38&39,BANDRA KURLA COMPLEX, BANDRA- EASTMUMBAIMH400093IN |
|
2 |
G47461355 |
100107052 |
HDFC BANK LIMITED |
12/05/2017 |
- |
- |
18000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
G50313295 |
100115623 |
INDIABULLS HOUSING FINANCE LIMITED |
12/05/2017 |
- |
- |
18000000.0 |
M - 62 & 63FIRST FLOOR, CONNAUGHT PLACENEW DELHIDE110001IN |
|
4 |
C10464121 |
10507965 |
HDFC BANK LIMITED |
29/03/2014 |
- |
- |
15000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
B29862299 |
10119949 |
CITIBANK NA |
14/08/2008 |
- |
10/01/2012 |
21450000.0 |
CITITOWER, DR. S. S. RAO ROAD,PARELMUMBAIMH400012IN |
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 65.22 |
|
|
1 |
INR 91.33 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKT |
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.