MIRA INFORM REPORT

 

 

Report No. :

500753

Report Date :

29.03.2018

 

 

IDENTIFICATION DETAILS

 

Name :

BLACKSTONE MULTI TRADING LIMITED (w.e.f 17.03.2015)

 

 

Formerly Known As :

UTTAM DISTRIBUTION NETWORK LIMITED

 

 

Registered Office :

303, Plot No. 59, Abhay Steel House, 59E, Baroda Street, Carnac Bunder, Mumbai – 400009, Maharashtra

Tel. No.:

91-22-66563626

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

15.07.2008

 

 

Com. Reg. No.:

11-184679

 

 

Capital Investment / Paid-up Capital :

INR 12.266 Million

 

 

CIN No.:

[Company Identification No.]

U51420MH2008PLC184679

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AABCU0139Q1Z0

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCU0139Q

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :
  • The Company is engaged in the selling and distribution business of Galvanized Plain (GP), Galvanized Corrugated (GC) standard material. (Registered Activity)
  • Trader, exporter, importer of Iron and steel like ferrous and non-ferrous metal. (Confirmed by management)

 

 

No. of Employees :

08 (Approximately)

 

 

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

 

Maximum Credit Limit:

USD 91000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2008. It is engaged in selling, dealing and distributing of galvanized plain, galvanized corrugated, standard material and is also trading, exporting and importing of iron and steel.


For the financial year 2017, the company has achieved massive growth in its revenue as compared to the previous year but has reported a low profit margin of 0.02%.


The satisfactory financial risk profile of the company is marked by improving net worth base due equity infused by its promoters.


Rating is constrained on account of poor debt coverage indicators due to high debt balance sheet profile.


Payments are seems to be slow.


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 29.03.2018

 

 

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 :

Mr. Vijay Sharma

Designation :

Assistant Manager – Accounts and Finance

Contact No.:

91-9819186021

 

 

LOCATIONS

 

Registered Office :

303, Plot No. 59, Abhay Steel House 59E, Baroda Street, Carnac Bunder, Mumbai – 400009, Maharashtra, India

Tel. No.:

91-22-66563626 / 66100356

Mobile No.:

91-9819186021 (Mr. Vijay Sharma)

Fax No.:

Not Available

E-Mail :

mukesh.jaisani@uttamgalva.com

multitrading.blackstone@gmail.com

bb.handa@blackstonemultitrading.com

multitrading.blackstone@gmail.com

Website :

http://www.blackstonemultitrading@gmail.com

 

 

Branch Office 1 :

Wardha 509-510 Navratna Premises Co-operative Housing Society, Carnac Bunder, P, D’Mello Road, Mumbai – 400009, Maharashtra, India

 

Branch Office 2 :

Office No.1/A, Mittal Court 224, Nariman Point, Mumbai – 400021, Maharashtra, India

 

Branch Office 3 :

Bhugaon Link Road, Wardha – 442001, Maharashtra, India

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Rakeshkumar Shrikishan Khandelwal

Designation :

Director

Address :

605/B, Usha Nagar, Service Road, Bhandup West, Mumbai – 400078, Maharashtra, India

Date of Appointment :

30.09.2016

DIN No.:

02531139

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U45202MH1994PTC081324

BAKURA PROPERTIES PRIVATE LIMITED

17/04/1997

-

U70101MH1994PTC081366

HELI PROPERTIES PRIVATE LIMITED

17/04/1997

-

U51100MH1998PTC115425

PALAK AGENCY PRIVATE LIMITED

30/09/2013

-

U45201MH2006PTC165166

VAIKUNTH TOWNSHIPS PRIVATE LIMITED

30/09/2015

-

 

 

Name :

Mr. Priyaj Sundip Jhaveri

Designation :

Additional Director

Address :

1401-A, Rajul Apartment, 9, Harkness Road, Mumbai – 400006, Maharashtra, India

Date of Appointment :

25.05.2017

DIN No.:

01542551

Other Directorship:

CIN/FCRN

COMPANY NAME

BEGIN DATE

END DATE

U55101MH1987PLC043477

PALM SPRING RESORTS LIMITED

01/01/1998

-

U92490MH1991NPL063347

ASMITA CULTURAL FOUNDATION

01/04/2017

-

 

 

Name :

Mr. Saurabh Dipak Sanghvi

Designation :

Additional Director

Address :

66, Kamal Building, 69, Walkeshwar Road, Mumbai – 400006, Maharashtra, India

Date of Appointment :

02.05.2017

DIN No.:

02000411

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74900MH2014PTC253249

GOODVALUE INFORMATICS SOLUTIONS PRIVATE LIMITED

13/02/2014

-

U51909MH2005PTC154481

ASPEN INTERNATIONAL PRIVATE LIMITED

28/09/2012

-

U24233MH2011PTC212664

VERITAS POLYCHEM PRIVATE LIMITED

30/09/2016

-

U51909WB2009PTC135084

TITLY BARTER PRIVATE LIMITED

28/09/2012

-

U51109MH2008PLC182189

GROUPE VERITAS LIMITED

28/09/2012

-

U45202MH2008PLC182355

HAZEL INFRA LIMITED

28/09/2012

-

U01403MH2007PTC168117

VERITAS AGRO VENTURES PRIVATE LIMITED

02/12/2011

-

L23209MH1985PLC035702

VERITAS (INDIA) LIMITED

18/01/2012

-

U51900MH1996PLC104099

SANMAN TRADE IMPEX LIMITED

28/09/2012

-

U65900MH1996PLC099279

INDIA FINTRADE LIMITED

28/09/2012

-

U67120MH1996PTC097863

PRICELESS INVESTRADE PRIVATE LIMITED

28/09/2012

-

U65990MH1995PTC095594

REVIVE SECURITIES PRIVATE LIMITED

28/09/2012

-

U51900MH1995PLC093674

HAZEL MERCANTILE LIMITED

28/09/2012

-

U24110MH1994PTC076617

NEOLITE POLYMER INDUSTRIES P.LTD.

28/09/2012

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Vijay Sharma

Designation :

Assistant Manager – Accounts and Finance

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

Saurabh Sanghvi

 

620399

Tejas Shah

 

591219

Pankaj Suleka

 

14980

Ashok Kumar Mahendru

 

10

Rolph Sequeira

 

10

Minish Shah

 

10

Shair Sanghvi

 

10

Manoj Didwaniya

 

10

 

 

 

Total

 

1226648

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 15.06.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

50.58

Public/Other than promoters- Individual/Hindu Undivided Family- Indian

49.42

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :
  • The Company is engaged in the selling and distribution business of Galvanized Plain (GP), Galvanized Corrugated (GC) standard material. (Registered Activity)
  • Trader, exporter, importer of Iron and steel like ferrous and non-ferrous metal. (Confirmed by management)

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Trading of Metals

46620

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Products :

Finished Goods

Countries :

European Countries 

 

 

Imports :

Products :

Raw material

Countries :

Japan

 

 

Terms :

Selling :

Cheque, Credit (30 Days) and Others (RTGS / NEFT)

 

 

Purchasing :

Cheque, Credit (30 Days)  and Others (RTGS / NEFT)

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

End Users, OEM’s

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

08 (Approximately)

 

 

Bankers :

Banker Name :

Yes Bank Limited

Branch :

1A, Grand Floor, Mittal Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

91-22-66749000/67478916

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

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

--

Account Operation :

--

Remark :

--

 

Banker Name :

ICICI Bank Limited

Branch :

215, Free Press House, Nariman Point, Mumbai – 400021, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

91-22-33667777/22843328

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

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

--

Account Operation :

--

Remark :

Number is continuously ringing

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Term loans from banks

1155.000

0.000

Total

1155.000

0.000

 

 

Auditors :

 

Name :

Lalit Mehta and Company

Chartered Accountants

Address :

101, Apollo Arcade, R.K Singh Marg, Off P.P. Road, Near Sona Udyog, Andheri (East), Mumbai, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

AABPM6331K

Membership No:

015135

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are

owned, have significant

influence are partners

with Key management

personnel and their relatives:

Palak Agency Private Limited – [CIN No: U51100MH1998PTC115425]

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

INR 10/- each

INR 30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1226648

Equity Shares

INR 10/- each

INR 12.266 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

12.266

0.500

0.500

(b) Reserves and Surplus

19.710

0.653

(8.173)

(c) Money received against share warrants

0.000

0.000

0.000

(d) Minority interest

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

31.976

1.153

(7.673)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1155.000

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

5.574

3.574

1.970

Total Non-current Liabilities (3)

1160.574

3.574

1.970

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

600.000

0.000

0.000

(b) Trade payables

6497.930

4555.294

10.210

(c) Other current liabilities

2172.991

1528.664

2402.626

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

9270.921

6083.958

2412.836

 

 

 

 

TOTAL

10463.471

6088.685

2407.133

 

 

 

 

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) 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

1.002

1.015

0.014

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term loans and advances

48.546

1.153

3.524

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

49.548

2.168

3.538

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

378.482

0.418

0.418

(c) Trade receivables

5914.829

3175.912

0.577

(d) Cash and bank balances

674.763

29.138

0.100

(e) Short-term loans and advances

3440.855

2881.049

2402.500

(f) Other current assets

4.994

0.000

0.000

Total Current Assets

10413.923

6086.517

2403.595

 

 

 

 

TOTAL

10463.471

6088.685

2407.133

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Total Revenue from operations

20243.692

8692.360

0.000

 

Other Income

9.177

1.628

0.001

 

TOTAL

20252.869

8693.988

0.001

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

20383.857

8678.418

0.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(378.064)

0.000

0.000

 

Other expenses

6.914

1.510

0.197

 

TOTAL

20012.707

8679.928

0.197

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

240.162

14.060

(0.196)

 

 

 

 

 

Less

FINANCIAL EXPENSES

234.472

1.332

0.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

5.690

12.728

(0.196)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

5.690

12.728

(0.196)

 

 

 

 

 

Less

TAX

2.000

3.902

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

3.690

8.826

(0.196)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

3.00

177.00

(196.000)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

210.000

223.790

0.000

Cash generated from operations

(1353.700)

32.314

0.060

Net cash flows from (used in) operations

(1353.700)

32.314

0.060

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

106.65

133.36

0.00

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

3.42

2.74

0.00

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

116.35

191.59

0.00

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.63

33.64

(0.47)

 

 

 

 

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)

1.02

1.04

1.00

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

61.45

194.09

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

289.93

5276.63

(314.46)

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.00

0.00

0.00

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.02

10.56

0.00

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

0.02

0.10

0.00

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.04

0.14

(0.01)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

11.54

765.48

2.55

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.12

1.00

1.00

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.08

1.00

1.00

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.00

0.00

0.00

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

160.20

447.58

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.12

1.00

1.00

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are 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

0.500

0.500

12.266

Reserves & Surplus

(8.173)

0.653

19.710

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

(7.673)

1.153

31.976

 

 

 

 

Long-term borrowings

0.000

0.000

1155.000

Short term borrowings

0.000

0.000

600.000

Current maturities of long-term debts

0.000

223.790

210.000

Total borrowings

0.000

223.790

1965.000

Debt/Equity ratio

0.000

194.094

61.452

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2016

31.03.2017

 

(INR In Million)

(INR In Million)

Sales

8692.360

20243.692

 

0.000

132.891

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2016

31.03.2017

 

(INR In Million)

(INR In Million)

Sales

8692.360

20243.692

Profit/ (Loss)

8.826

3.690

 

0.10 %

0.02 %

 

 

 

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)

Yes

16

No. of employees

Yes

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

 

Corporate Information:-

 

The Company is engaged in the selling and distribution business of Galvanized Plain (GP), Galvanized Corrugated (GC) standard material

 

State of company's affair:

 

The Company has incurred a profit of INR 3.690 Million during the year under review asagainst a profit of INR  8.826 Million reported in the Previous Year. The Company has generated operational revenue of INR 20243.691 Million during the year.

 

UNSECURED LOANS:

 

Particulars

31.03.2017

INR In Million

31.03.2016

INR In Million

SHORT TERM BORROWINGS

 

 

Loans and advances from related parties

600.000

0.000

Total

600.000

0.000

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

G33627597

10572177

PUNJAB AND MAHARASHTRA CO-OPERATIVE BANK LIMITED

21/05/2015

22/12/2016

-

950000000.0

CENTRAL OFFICE, 4 & 5, 3RD FLOOR, DREAMS MALL,L.B.S. MARG, BHANDUP (WEST), MUMBAI – 400078, MAHARASHTRA, INDIA

2

G59396325

100081934

RBL BANK LIMITED

09/01/2017

-

10/10/2017

1400000000.0

SHAHUPURI, KOLHAPUR, KOLHAPUR – 416001, MAHARASHTRA, INDIA

 

 

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 65.04

UK Pound

1

INR 92.28

Euro

1

INR 80.62

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

NKTS

 

 

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

YES

--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.