MIRA INFORM REPORT

 

 

Report No. :

494499

Report Date :

22.03.2018

 

 

IDENTIFICATION DETAILS

 

Name :

HUMSAFAR HOLIDAYS

 

 

Registered Office :

3, Khandelwal Building, Laltaki, Ahmednagar-414001, Maharashtra

Tel. No.:

91-241-2431066

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Establishment :

01.01.2010

 

 

Capital Investment :

INR 3.067 Million

 

 

IEC No.:

Not Divulged

 

 

GST No.:

Not Divulged

 

 

TIN No.:

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AZZPM9647D

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Subject is engaged in Providing Services like Ticket Booking, Hotel Booking, etc. [Confirmed by Management]

 

 

No. of Employees :

10 [Approximately] [In Office: 06, In Branch: 04]

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Small concern 

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a proprietorship concern established in the year 2010 and it is engaged in providing services like ticket booking, hotel booking, etc.

 

As per financials of March 2017, the subject has registered modest operating revenue and has reported moderate profit.

 

Rating takes into consideration the subject’s small scale of business operations along with moderate capital base and average liquidity position.

 

However, rating weakness is partially offset by satisfactory track record of business operation and low debt balance sheet.

 

Payments seems to be slow but correct.

 

In view of aforesaid, the subject can be considered for business dealings with some caution.

 

Note:

 

Site visit was conducted at the given address which you have provided. Our executive has successfully traced the subject at the given address.

 

At the premises, our executive met one of the executive (Name Not Divulged) who provided his contact details (09595488885) and email-id (reservations@humsafarholidays.in).

 

As per our executive’s observation, it is a ground + 1 storey building and subject is situated at the ground floor. Location was easy to find and locality seems to be commercial. Area seems to be upmarket and 6 employees were sighted at the given address.

Landmark- Near State Bank of India

 

During the visit, our executive met neighbours (Dr. Prakash Khandelwal Clinic and Anita Wines) and they claimed that the subject is situated on the given address.

 

Name board of the subject was sighted at the given address.

 

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 22.03.2018.

 

 

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

 

Name :

Mrs. Harmeet Kaur Makhija

Designation :

Proprietor

Contact No.:

91-9595488885

Date :

21.03.2018

 

 

Name :

Mr. Devinder Singh Makhija

Designation :

Chairman

Contact No.:

91-9595772682

Date :

21.03.2018

 

 

LOCATIONS

 

Registered Office :

3, Khandelwal Building, Laltaki, Ahmednagar-414001, Maharashtra, India

Tel. No.:

91-241-2431066

Mobile No.:

91-9595488885 [Mrs. Harmeet Kaur Makhija]

91-9595772682 [Mr. Devinder Singh Makhija]

Fax No.:

Not Available

E-Mail :

hum.safar@ymail.com

reservations@humsafarholidays.in

Area :

270 Sq. Ft.

Location :

Leased

Locality:

Commercial [As per site visit]

 

 

Branch Office :

Shop No. 4, Ajax Mansion, Jalna Road, Aurangabad-431001, Maharashtra, India

Tel. No.:

91-241-2365133

Area :

400 Sq. Ft.

Location :

Leased

 

 

SOLE PROPRIETOR

 

Name :

Mrs. Harmeet Kaur Makhija

Designation :

Proprietor

Address :

Plot No. 39, Survey No. 15 16/1-2, Sarasnagar, Ahmednagar-414001, Maharashtra, India

Date of Birth/Age :

21.05.1986

Qualification :

B. Com

Experience :

8 Years

PAN No:

AZZPM9647D

Aadhar Card No:

941711975033

 

 

KEY EXECUTIVES

 

Name :

Mr. Devinder Singh Makhija

Designation :

Chairman

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in Providing Services like Ticket Booking, Hotel Booking, etc. [Confirmed by Management]

 

 

Products/ Services :

·         Ticket Booking

·         Hotel Booking, etc.

 

 

Franchisees :

·         “SOTC”

·         “Neem Holidays”

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Not Available

Countries :

Not Available

 

 

Imports :

 

Products :

Not Available

Countries :

Not Available

 

 

Terms :

 

Selling :

Cash, Cheque, Credit and Others [RTGS]

 

 

Purchasing :

Cash, Cheque, Credit and Others [RTGS]

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Akbar Travels

Name of the Person (Designation):

Mr. Mukkaram Qazi

Contact Number:

91-9372333310

Since how long known:

8 Years

Maximum limit dealt:

--

Experience:

--

Remark

Not Reachable

 

 

Customers :

Wholesaler, Retailers and End Users

 

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

No. of Employees :

10 [Approximately] [In Office: 06, In Branch: 04]

 

 

Bankers :

 

Bank Name:

State Bank of India

Branch:

Renavikar Building, 129/1, Lal Taki, Ahmednagar-414001, Maharashtra, India

Person Name (with Designation):

--

Contact Number:

91-9423463382

Name of Account Holder:

 

Account Number:

32562177437

IFSC Code: SBIN0014794

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

--

Account Operation:

--

Remarks:

Banker Management Non Cooperative

 

Bank Name:

HDFC Bank Limited

Branch:

Ambar Plaza, ST Stand Road, Ahmednagar-414001, Maharashtra, India

Person Name (with Designation):

--

Contact Number:

91-9890603333

Name of Account Holder:

--

Account Number:

50200008667622

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

--

Account Operation:

--

Remarks:

Customer Care Number

 

Bank Name:

IndusInd Bank Limited

Branch:

Ahmednagar, Maharashtra, India

Person Name (with Designation):

--

Contact Number:

--

Name of Account Holder:

--

Account Number:

--

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

Credit Facilities Enjoyed (CC/OD/Term Loan):

--

Account Operation:

--

Remarks:

--

 

 

Facilities :

SECURED LOANS

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

HDFC Indigo Loan

0.000

0.084

HDFC Honda City Loan

0.000

0.511

Honda City Loan

0.315

0.000

 

 

 

Total

 

0.315

0.595

 

 

 

Auditors :

 

Name :

A.P. Godha and Company

Chartered Accountants

Address :

Aurangabad, Maharashtra, India

Mobile No.:

91-9372344131

Membership No.:

123826

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concern :

·         Sharneet Holidays Private Limited

Address: Khandelwal Building, Ahmednagar, Maharashtra, India

Line of Business: R.B.I. Aproved Forex

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Capital Investment :

 

Owned :

INR 3.067 Million

Borrowed :

---

Total :

INR 3.067 Million

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

31.03.2015

SHAREHOLDERS FUNDS

 

 

 

1] Proprietor Capital Account

3.067

2.515

2.064

2] Reserves & Surplus

0.000

0.000

0.000

NETWORTH

3.067

2.515

2.064

LOAN FUNDS

 

 

 

1] Secured Loans

0.315

0.595

0.992

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

0.315

0.595

0.992

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

3.382

3.110

3.056

 

 

 

 

APPLICATION OF FUNDS
 
 

 

 

 

 

 

FIXED ASSETS [Net Block]

1.695

2.455

2.790

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.495

0.000

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 
 
 

 

CURRENT ASSETS, LOANS & ADVANCES
 
 

 

 

Inventories
0.204
0.170
0.136

 

Sundry Debtors
0.236
0.000
0.083

 

Cash & Bank Balances
0.544
0.485
0.047

 

Other Current Assets
0.000
0.000
0.000

 

Loans & Advances
0.250
0.000
0.000

Total Current Assets
1.234
0.655
0.266

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors
0.000
0.000
0.000

 

Other Current Liabilities
0.042
0.000
0.000

 

Provisions
0.000
0.000
0.000

Total Current Liabilities
0.042
0.000
0.000

Net Current Assets
1.192

0.655
0.266

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

3.382

3.110

3.056

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

 

Ticket Sales

7.289

6.658

5.764

 

 

Other Income

0.000

0.000

0.000

 

 

TOTAL                                    

7.289

6.658

5.764

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Costs of Goods Sold

5.171

5.159

4.466

 

 

Commission and Brokerage

0.146

0.000

0.000

 

 

Commission Paid

0.000

0.117

0.101

 

 

Electricity Expenses

0.029

0.025

0.021

 

 

Printing and Stationery Exps

0.027

0.021

0.019

 

 

Salary and Wages expenses

0.549

0.055

0.052

 

 

Shop Expenses

0.053

0.046

0.040

 

 

Shop Rent

0.000

0.054

0.048

 

 

Telephone expenses

0.049

0.042

0.036

 

 

Travelling and Conveyance

0.084

0.076

0.066

 

 

Miscellaneous Expenses

0.031

0.025

0.022

 

 

Professional Fees

0.005

0.000

0.000

 

 

Repairs and Maintenance

0.047

0.000

0.000

 

 

Rent

0.060

0.000

0.000

 

 

TOTAL                                    

6.251

5.620

4.871

 

 

 

 

 

 

PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION

1.038

1.038

0.893

 

 

 

 

 

Less

FINANCIAL EXPENSES                       

0.094

0.088

0.074

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION                      

0.944

0.950

0.819

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.314

0.335

0.282

 

 

 

 

 

 

NET PROFIT/ (LOSS)   

0.630

0.615

0.537

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

11.82

0.00

5.26

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

30.89

0.00

69.45

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

0.00

0.00

0.00

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

5.09

6.11

6.57

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.61

0.42

0.32

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.10

0.19

0.32

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.10

0.24

0.48

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.01

0.00

0.00

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.55

0.98

1.35

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

11.04

11.80

12.07

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

8.64

9.24

9.32

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

18.40

19.77

17.57

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

20.54

24.45

26.02

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

29.38

0.00

0.00

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

24.52

0.00

0.00

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.90

0.81

0.68

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.10

0.24

0.48

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

29.38

0.00

0.00

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

Proprietor Capital Account

2.064

2.515

3.067

Reserves & Surplus

0.000

0.000

0.000

Net worth

2.064

2.515

3.067

 

 

 

 

Secured Loans

0.992

0.595

0.315

Unsecured Loans

0.000

0.000

0.000

Total borrowings

0.992

0.595

0.315

Debt/Equity ratio

0.481

0.237

0.103

 

 

 

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

Ticket Sales

5.764

6.658

7.289

 

 

15.510

9.477

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Ticket Sales

5.764

6.658

7.289

Profit

0.537

0.615

0.630

 

9.32%

9.24%

8.64%

 

 

 

 

 

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

Yes

5

Buyer visit details

Yes

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)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

Yes

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

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

No

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

 

 

------------------------------------------------------------------------------------------------------------------------------

 

OBSERVATION POINTS

 

Name of Company :

HUMSAFAR HOLIDAYS

 

 

Address :

3, Khandelwal Building, Laltaki, Ahmednagar, Maharashtra, India

Contact No.:

91-9595488885

E-Mail :

reservations@humsafarholidays.in

 

 

Date of Visit :

20.03.2018

 

 

Person to whom we met:

Employee [Name Not Divulged]

 

 

Name Board :

Sighted

 

 

Location:

Easy

 

 

Landmark (If Any):

Near State Bank of India

 

 

Total Floors of the Building :

Ground Floor + 1st Floor

 

 

Subject situated on:

Ground Floor

 

 

Locality:

Commercial

 

 

Area :

Upmarket

 

 

No. of employees seen at premises:

06 [Approx.]

 

 

Visibility of Items:

·         Telephone

·         Fax Machine

·         Computers

·         Air Conditioner

·         Office Equipment

·         Xerox Machine

 

 

Neighbours Interview :

During the visit, our executive met neighbours (Dr. Prakash Khandelwal Clinic and Anita Wines) and they claimed that the subject is situated on the given address.

 

 

Proof of visit:

Visiting Card and Photos

 

-----------------------------------------------------------------------------------------------------------------------------

 

PROJECTED BALANCE SHEET

 

(INR IN MILLION)

 

SOURCES OF FUNDS

 

31.03.2020

31.03.2019

31.03.2018

SHAREHOLDERS FUNDS

 

 

 

1] Capital Account

4.984

4.274

3.640

2] Reserves & Surplus

0.000

0.000

0.000

NETWORTH

4.984

4.274

3.640

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.098

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

0.000

0.000

0.098

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

4.984

4.274

3.738

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1.049

1.228

1.439

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.495

0.495

0.495

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
0.690
0.460
0.306

 

Sundry Debtors
1.059
0.710
0.459

 

Cash & Bank Balances
0.545
0.426
0.375

 

Other Current Assets
0.000
0.000
0.000

 

Loans & Advances
1.250
1.050
0.750

Total Current Assets
3.544
2.646
1.890

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors
0.000
0.000
0.000

 

Other Current Liabilities
0.104
0.095
0.086

 

Provisions
0.000
0.000
0.000

Total Current Liabilities
0.104
0.095
0.086

Net Current Assets
3.440
2.551
1.804

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

4.984

4.274

3.738

 

-----------------------------------------------------------------------------------------------------------------------------

 

PROJECTED PROFIT & LOSS ACCOUNT

 

(INR IN MILLION)

 

 

PARTICULARS

 

31.03.2020

31.03.2019

31.03.2018

 

SALES

 

 

 

 

 

Gross Receipts

18.894

15.745

13.121

 

 

Other Income

0.690

0.460

0.306

 

 

TOTAL                                    

19.584

16.205

13.427

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Tickets Stock

0.460

0.306

0.204

 

 

Tickets Purchased

15.400

12.689

10.425

 

 

Commission and Brokerage

0.315

0.263

0.219

 

 

Salaries and Wages

1.185

0.987

0.823

 

 

Electrical Expenses

0.062

0.052

0.043

 

 

Printing and Stationary

0.058

0.048

0.040

 

 

Professional Fees

0.011

0.009

0.008

 

 

Repairs and Maintenance

0.101

0.084

0.070

 

 

Travelling and Conveyance

0.182

0.152

0.127

 

 

Rent

0.130

0.108

0.090

 

 

Shop Expenses

0.115

0.096

0.080

 

 

Telephone and Internet Expenses

0.106

0.089

0.073

 

 

Misc Expenses

0.066

0.056

0.046

 

 

TOTAL                                    

18.191

14.939

12.248

 

 

 

 

 

 

PROFIT BEFORE INTEREST AND DEPRECIATION AND AMORTISATION

1.393

1.266

1.179

 

 

 

 

 

Less

FINANCIAL EXPENSES                       

0.204

0.170

0.142

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE DEPRECIATION AND AMORTISATION                      

1.189

1.096

1.037

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.179

0.212

0.254

 

 

 

 

 

 

NET PROFIT/ (LOSS)   

1.010

0.884

0.783

 

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VALUATION REPORT

 

(GENERAL DETAILS)

 

Date as on which valuation is made

07.02.2018

 

 

Name of the Owner/ owners

MRS. MAKHIJA SWARNAJITKAUR DEVENDRASINGH

 

 

Location, street, ward no.

At. Maliwada, Ahmednagar

 

 

Survey/ Plot No. of Land

S. No. 15/16/1/2. “Sarasnagar”

 

P. No. 39. H. No. 43 ‘In Corporation Limit’

 

 

Government Value

INR 5.100 Million

 

 

Fair market Value

INR 13.000 Million

 

 

Salable Value of the property

INR 11.700 Million

 

 

Forced sale Value of the property

INR 10.400 Million

 

-----------------------------------------------------------------------------------------------------------------------------

 

FIXED ASSETS:

 

·         Furniture, Fittings and Electrical Fittings

·         Computer System

·         Vehicle

 

-----------------------------------------------------------------------------------------------------------------------------

 

 

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

Indian Rupees

US Dollar

1

INR 65.22

UK Pound

1

INR 91.33

Euro

1

INR 79.96

 

 

INFORMATION DETAILS

 

Information Gathered by :

SAV

 

 

Analysis Done by :

VIV

 

 

Report Prepared by :

IND

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.