|
|
|
MIRA
INFORM REPORT
|
Report No. : |
499272 |
|
Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SOFTLINE SERVICES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-702/3, Pinnacle Corporate Park, Opposite MTNL, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, Maharashtra |
|
Mobile No.: |
91-9819961895 (Mr. Rajesh
Hinchhdhar Dubey) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
25.03.2014 |
|
|
|
|
Com. Reg. No.: |
11-255007 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 77.601 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2014PTC25500 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAUCS4616H |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is providing comprehensive
information technology solutions including technology consulting, licensing
and software delivery, cloud services and hardware solutions. (Registered
Activity) |
|
|
|
|
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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2014. It is a wholly owned
subsidiary of Softline Overseas Corp, Panama. As per the financial records of 2017, the company has incurred
operation losses. The moderate financial position of the company is marked by the accumulated
losses which have eroded the networth base. However rating takes into consideration the debt free balance sheet profile
and 57.50% growth in its revenue as compared to the previous year’s revenue. Rating also takes into consideration the strength that the company
derives from its holding company and its well 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 with some caution. |
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 23.03.2018
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. Rajesh Hinchhdhar Dubey |
|
Designation : |
Director |
|
Contact No.: |
91-9819961895 |
|
Date : |
22.03.2018 |
LOCATIONS
|
Registered Office : |
B-702/3, Pinnacle Corporate Park, Opposite MTNL, Bandra Kurla Complex,
Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-45023900 |
|
Mobile No.: |
91-9819961895 (Mr. Rajesh
Hinchhdhar Dubey) |
|
Fax No.: |
91-22-45023999 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office 1 : |
Level 11, UB City Canberra Block, 24 Vittal Mallya Road, Bangalore –
560001, Karnataka, India |
|
|
|
|
Branch Office 2 : |
S-2, Vatika Triangle, M.G. Road, Gurgaon – 122002, Haryana, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vinod
Sethumadhavan Nair |
|
Designation : |
Managing Director |
|
Address : |
1/C/102, Kalpataru Gardens, Ashok Chakravarthy Road, Near Kandivali (East), West Fly Over, Ashok Nagar, Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
15.02.1973 |
|
Date of Appointment : |
13.05.2016 |
|
DIN No.: |
07515050 |
|
|
|
|
Name : |
Igor Petlyakov |
|
Designation : |
Director |
|
Address : |
AV Alvear Ciudad Autonoma De Bs As- Comuna 2 Buenos Aires 19185A AR |
|
Date of Appointment : |
13.06.2014 |
|
DIN No.: |
06874463 |
|
|
|
|
Name : |
Mr. Atul Radhayshyam
Ahuja |
|
Designation : |
Director |
|
Address : |
F-1207, Palm Court, Link Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Date of Appointment : |
17.11.2014 |
|
DIN No.: |
07016006 |
|
|
|
|
Name : |
Mr. Rajesh Hinchhdhar
Dubey |
|
Designation : |
Director |
|
Address : |
B\505, Astral Mahavir Universe LBS Road, Bhandup (West), Mumbai – 400078, Maharashtra, India |
|
Date of Appointment : |
01.07.2015 |
|
DIN No.: |
07220708 |
KEY EXECUTIVES
|
Name : |
Ms. Shubhrima Sharma |
|
Designation : |
Company Secretary |
|
Address : |
G-1902, Mahavir Heritage Sector-35G, Kharghar, Navi Mumbai – 410210, Maharashtra, India |
|
Date of Birth/Age : |
06.09.1988 |
|
Date of Appointment : |
20.04.2015 |
|
PAN No.: |
CAQPS9245H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Softline Overseas Corp., Panama Republic |
|
7760058 |
|
Softline International Brasil Comercio e Licenceiamento de Software
Ltda |
|
1 |
|
Total |
|
7760059 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Others- Foreign Companies) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is providing comprehensive
information technology solutions including technology consulting, licensing
and software delivery, cloud services and hardware solutions. (Registered
Activity) |
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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 : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : (From Indirect Source) |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
||||||||||||||||||||||
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Auditors : |
|
|
Name : |
S. R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
12th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Softline Overseas Corp., Panama Republic |
|
|
|
|
Fellow Subsidiary Company
: |
Softline International |
CAPITAL STRUCTURE
After 29.09.2017
Authorised Capital : INR 150.000 Million
Issued, Subscribed & Paid-up Capital : INR 84.221
Million
As on 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
INR 10/- each |
INR 80.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7760059 |
Equity Shares |
INR 10/- each |
INR 77.601 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 |
77.601 |
77.601 |
45.935 |
|
(b) Reserves and Surplus |
(89.218) |
(68.082) |
(43.047) |
|
(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) |
(11.617) |
9.519 |
2.888 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
10.682 |
4.210 |
1.511 |
|
Total Non-current
Liabilities (3) |
10.682 |
4.210 |
1.511 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
236.739 |
244.324 |
59.488 |
|
(c) Other
current liabilities |
31.882 |
33.422 |
35.018 |
|
(d) Short-term
provisions |
1.201 |
0.461 |
0.173 |
|
Total Current
Liabilities (4) |
269.822 |
278.207 |
94.679 |
|
|
|
|
|
|
TOTAL |
268.887 |
291.936 |
99.078 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1.522 |
1.498 |
1.649 |
|
(ii)
Intangible Assets |
0.062 |
0.123 |
0.068 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
12.086 |
7.432 |
4.994 |
|
(e) Other
Non-current assets |
0.100 |
0.109 |
0.102 |
|
Total Non-Current
Assets |
13.770 |
9.162 |
6.813 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
197.301 |
171.912 |
68.369 |
|
(d) Cash and
bank balances |
23.742 |
16.289 |
2.909 |
|
(e)
Short-term loans and advances |
28.008 |
25.095 |
5.513 |
|
(f) Other
current assets |
6.066 |
69.478 |
15.474 |
|
Total
Current Assets |
255.117 |
282.774 |
92.265 |
|
|
|
|
|
|
TOTAL |
268.887 |
291.936 |
99.078 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1778.760 |
1129.399 |
126.891 |
|
|
Other Income |
3.394 |
2.710 |
0.112 |
|
|
TOTAL |
1782.154 |
1132.109 |
127.003 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1477.006 |
912.174 |
116.874 |
|
|
Purchases of
Stock-in-Trade |
133.702 |
112.553 |
0.204 |
|
|
Employee benefit expense |
104.510 |
80.449 |
42.596 |
|
|
CSR expenditure |
0.000 |
0.000 |
0.000 |
|
|
Other expenses |
84.107 |
64.015 |
27.905 |
|
|
Prior period items before tax |
3.049 |
0.000 |
0.000 |
|
|
TOTAL |
1802.374 |
1169.191 |
187.579 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(20.220) |
(37.082) |
(60.576) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.663 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(20.220) |
(37.082) |
(61.239) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.916 |
0.619 |
0.296 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(21.136) |
(37.701) |
(61.535) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(21.136) |
(37.701) |
(61.535) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
125.062 |
56.481 |
0.000 |
|
|
TOTAL EARNINGS |
125.062 |
56.481 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
23.080 |
5.350 |
0.000 |
|
|
Components and spare
parts |
3.838 |
2.004 |
0.000 |
|
|
TOTAL IMPORTS |
26.918 |
7.354 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(2.72) |
(4.86) |
(39.31) |
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 flows from (used in) operations |
10.552 |
(31.629) |
(58.773) |
|
Net cash flow from operating activity |
5.897 |
(31.629) |
(58.795) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days (Sundry Debtors /
Income * 365 Days) |
40.49 |
55.56 |
196.66 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
9.02 |
6.57 |
1.86 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
53.65 |
87.03 |
185.46 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(12.77) |
(22.88) |
(35.28) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
1.00 |
0.95 |
0.96 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(23.23) |
29.23 |
32.78 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(0.14) |
0.17 |
0.59 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
(91.37) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
(1.19) |
(3.34) |
(48.49) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(7.86) |
(12.91) |
(62.11) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
181.94 |
(396.06) |
(2130.71) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets /
Current Liabilities) |
0.95 |
1.02 |
0.97 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.95 |
1.02 |
0.97 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.04) |
0.03 |
0.03 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.95 |
1.02 |
0.97 |
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 |
45.935 |
77.601 |
77.601 |
|
Reserves & Surplus |
(43.048) |
(68.082) |
(89.218) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2.887 |
9.519 |
(11.617) |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
126.891 |
1129.399 |
1778.760 |
|
|
|
790.054 |
57.496 |
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 |
126.891 |
1129.399 |
1778.760 |
|
Profit/ (Loss) |
(61.535) |
(37.701) |
(21.136) |
|
|
(48.49
%) |
(3.34
%) |
(1.19
%) |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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% |
-- |
|
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 |
NOTE: The registered office of the company has been shifted from “602A, Plot No.C-70, G- Block, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India” to the present address w.e.f. 01.02.2016
GENERAL INFORMATION
The company was incorporated on March 25, 2014. It is a subsidiary of Softline Overseas Corp, Russia. The Company provides comprehensive information technology solutions including technology consulting, licensing and software delivery, cloud services and hardware solutions.
BRIEF DESCRIPTION OF
THE COMPANY’S WORKING DURING THE YEAR
Overall there has been significant improvement in revenue growth by 37% and loss has also been reduced by 47%. As the company continue to acquire new clients and grow geographies, there has been constant pressure on margins due to stiff competition. Your company targets to break-even in terms of profitability by FY 2017-2018.
INDEX OF CHARGES
|
Charges Registered |
||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Amount |
Address |
|
1 |
G79443511 |
100160494 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
26/02/2018 |
150000000.0 |
One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai MAHARASHTRA 400001 INDIA |
FIXED ASSETS
- Furniture and fixtures
- 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
|
INR |
|
US Dollar |
1 |
INR 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUD |
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.