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MIRA INFORM REPORT
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Report No. : |
499716 |
|
Report Date : |
29.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
VASA RETAIL AND OVERSEAS LIMITED |
|
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Registered
Office : |
A-126, 1st Floor, Plot G-1, BGTA Godavari Premises Co-Operative
Society Limited, Wadala Truck Terminal Road, Wadal East, Mumbai – 400037,
Maharashtra |
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Mobile No.: |
91-9137407291 (Mr. Hardik Bhupendra Vasa) |
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Country : |
India |
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Financials (as
on) : |
2017 (From Indirect Sources) |
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Date of
Incorporation : |
20.10.2017 |
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Com. Reg. No.: |
11- 301013 |
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Capital
Investment / Paid-up Capital : |
INR 59.926 Million |
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|
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CIN No.: [Company Identification
No.] |
U74110MH2017PLC301013 |
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IEC No.: [Import-Export
Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing and dealing in paper, cardboard, containers, packing materials, printing, drawing and writing materials and requisites, pens, inks, greeting cards, diaries and stationery. [Registered Activity] |
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|
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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 |
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Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Mr.
Hardik Vasa (Director) claimed that the subject was established as a partnership
firm in the year 1994 but later during October 2017 it got converted into
Public Limited Company in the name of “Vasa Retail and Overseas Limited”. It deals
in all kinds of stationery products like artistic materials, hobby colours,
scholastic colours, office products and writing instruments. As per
indirect sources, we could find that the company has achieved a revenue of
INR 235.500 million along with profit of INR 9.200 million in the FY 2017 and
revenue of INR 216.300 million along with loss of INR -1.500 million in the
FY 2016. Rating
takes into consideration the company’s established track record of business
operations and sound capital base. Further,
shares are quoted high on stock exchanges. (Shares are traded at a price of
INR 60.20 against its face value of INR 10 on NSE). Payments
seems to be slow but correct. In view
of aforesaid, the company can be considered for business dealings at usual
trade terms and conditions. Note: Company IPO
was issued from 24-1-2018 to 29-1-2018 for total amount of INR 48 million
with a face value of INR 10. |
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 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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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 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 DENIED BY
|
Name : |
Mr. Hardik Bhupendra Vasa |
|
Designation : |
Managing Director |
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Contact No.: |
91-9137407291 |
|
Date : |
28.03.2018 |
LOCATIONS
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Registered Office : |
A-126, 1st Floor, Plot G-1, BGTA Godavari Premises
Co-Operative Society Limited, Wadala Truck Terminal Road, Wadal East, Mumbai –
400037, Maharashtra, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9137407291 (Mr. Hardik Bhupendra Vasa) |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Hardik Bhupendra Vasa |
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Designation : |
Managing Director |
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Address : |
23, Suprabhat 76, Warden Road, Breach Candy, Mumbai
-400026, Maharashtra, India |
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Date of Appointment : |
09.11.2017 |
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DIN No.: |
03600510 |
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Other Directorship:
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Name : |
Mrs. Kajal Hardik Vasa |
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Designation : |
Director |
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Address : |
23, Suprabhat 76, Warden Road, Breach Candy, Mumbai
-400026, Maharashtra, India |
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Date of Appointment : |
09.11.2017 |
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DIN No.: |
03600495 |
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Other Directorship:
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Name : |
Mr. Yashesh Jitendra Udani |
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Designation : |
Director |
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Address : |
7 Hema Apartmetn, Plot No.353-B-38 V B Lane, Ghatkopar,
Mumbai -400077, Maharashtra, India |
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Date of Birth/Age : |
14.03.1974 |
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Date of Appointment : |
09.11.2017 |
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DIN No.: |
02759631 |
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Other Directorship:
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Name : |
Mrs. Aruna Bhupendra Vasa |
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Designation : |
Director |
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Address : |
23, Suprabhat 76, Warden Road, Breach Candy, Mumbai
-400026, Maharashtra, India |
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Date of Appointment : |
20.10.2017 |
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DIN No.: |
03600519 |
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Name : |
Mr. Mahiesh Sankalchand Jaain |
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Designation : |
Director |
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Address : |
Flat No. 2, Vardhaman Building, Cross Road 6, Mamlatdar
Wadi, Malad (West), Mumbai -400064, Maharashtra, India |
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Date of Birth/Age : |
20.06.1969 |
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Date of Appointment : |
09.11.2017 |
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DIN No.: |
07976830 |
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Name : |
Mrs. Shilpi Agarwal |
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Designation : |
Director |
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Address : |
A 504 Jagdish Apartment, Makol Milatary Road, Andheri
(East) Mumbai -400059, Maharashtra, India |
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Date of Birth/Age : |
11.03.1985 |
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Date of Appointment : |
09.11.2017 |
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DIN No.: |
07976857 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Bharat Kumar Prajapat |
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Designation : |
Company Secretary |
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Address : |
A1/11 Kanchan Ganga Apartment, Amarnath Society, Near
Gopal Chowk Ahmedabad -382350, Gujarat, India |
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Date of Appointment : |
10.11.2017 |
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PAN No.: |
BSLPP2211C |
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Name : |
Mr. Aman Nilesh Shah |
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Designation : |
Chief Finance Officer |
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Address : |
A 301 Shree Siddhivinay Apartment New Link Road,
Nallasopara East, Vasai, Thane -401209, Maharashtra, India |
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Date of Appointment : |
01.11.2017 |
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PAN No.: |
FCOPS5861L |
MAJOR SHAREHOLDERS
AS ON 10.10.2017
|
Names of Shareholders |
|
No. of Shares |
|
Aruna Bhupendra Vasa |
|
1178080 |
|
Hardik B Vasa |
|
1963630 |
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Kajal H Vasa |
|
1050800 |
|
Ankur Shah |
|
10 |
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Bhumi Seth |
|
10 |
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Manish Badola |
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10 |
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Soheluddin Sayad |
|
10 |
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Total |
|
4192550 |
BUSINESS DETAILS
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Line of Business
: |
Manufacturing and dealing in paper, cardboard, containers, packing materials, printing, drawing and writing materials and requisites, pens, inks, greeting cards, diaries and stationery. [Registered Activity] |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
Not Available |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
Authorised Capital : INR 70.000 Million
Issued, Subscribed & Paid-up Capital : INR 59.926
Million
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
INR 10/- each |
INR 70.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
4192550 |
Equity Shares |
INR 10/- each |
INR 41.926 Million |
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FINANCIAL DATA
[all figures are
INR Million]
|
Particulars |
|
2017 |
2016 |
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Total Assets |
|
107.900 |
106.900 |
|
Sales |
|
235.500 |
216.300 |
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Direct Expenditure |
|
218.600 |
205.700 |
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Gross Profit |
|
16.900 |
10.600 |
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Operating Expenditure |
|
(3.200) |
2.200 |
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Operating Profit |
|
20.100 |
8.400 |
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Other Income |
|
3.000 |
2.300 |
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Interest |
|
6.900 |
6.800 |
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Depreciation |
|
0.800 |
2.000 |
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Profit before tax |
|
12.400 |
(0.800) |
|
Tax |
|
3.200 |
0.700 |
|
Profit after tax |
|
9.200 |
(1.500) |
|
EPS (Unadj) |
|
4.46 |
-- |
Note: Above financial details has been taken
from indirect source.
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 |
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 |
No |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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: Registered office of the company has been
shifted from C-001, Floor - Ground, A/3, ANTOP HILL, Warehousing
Vidyalankar College Marg, Barkat Ali, Antop Hill, Mumbai-400037, Maharashtra,
India to the present address w.e.f.
15.02.2018
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
G80734502 |
100163535 |
YES BANK LIMITED |
27/02/2018 |
30000000.0 |
YES BANK TOWER, IFC
2, 23RD FLOOR,SENAPATI BAPAT MARG, ELPHINSTONE (W)MUMBAIMH400013IN |
|
2 |
G75030742 |
100150045 |
STANDARD CHARTERED
BANK |
18/01/2018 |
120000000.0 |
CRESCENZO, 3A/F,
PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA
EASTMUMBAIMH400051IN |
|
3 |
G75030817 |
100150046 |
STANDARD CHARTERED
BANK |
18/01/2018 |
7500000.0 |
CRESCENZO, 3A/F,
PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA
EASTMUMBAIMH400051IN |
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 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
NO |
|
--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.