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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

499782

Report Date :

30.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

GURU NANAK OVERSEAS COMPANY PRIVATE LIMITED

 

 

Registered Office :

20, B. T. Road, Kolkata – 700002, West Bengal

Mobile No.:

91-9874348220 (Mr. Pawan Sharma)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

11.11.2005

 

 

Com. Reg. No.:

21-106133

 

 

Capital Investment / Paid-up Capital :

INR 9.050 Million

 

 

CIN No.:

[Company Identification No.]

U51909WB2005PTC106133

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

19AACCG4741M1ZA

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCG4741M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Transmission Tower and Telecom Tower. [Registered Activity and also Confirmed by Management]

 

 

No. of Employees :

30 [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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2005. It is a manufacturer and exporter of transmission tower and telecom tower.

 

For the financial year 2017, the revenue of the company has decreased by 41.67% but has managed to maintain low profit margin of 0.74%.

 

Rating is constrained on account of unfavourable gap between trade payables and trade receivables.

 

However, rating weakness is partially offset by satisfactory financial profile of the company is marked by comfortable networth base along with average debt coverage indicators.

 

Payment seems to be slow.

 

In view of aforesaid, the subject 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

 

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 30.03.2018

 

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. Pawan Sharma

Designation :

General Manager Finance

Contact No.:

91-9831438062

Date :

28.03.2018

 

 

LOCATIONS

 

Registered Office :

20, B.T. Road, Kolkata - 700002, West Bengal, India

Tel. No.:

91-33-25582559

Mobile No.:

91-9874348220 (Mr. Pawan Sharma)

Fax No.:

91-33-25575409

E-Mail :

haranjitsingh@gmail.com

pawan.sharma@gocpl-gis.com

Website :

http://www.gocpl.co.in

Location :

Owned

Locality :

Commercial

 

 

Factory :

NH-6, Bombay Road, Pakuria, Howrah – 711114, West Bengal, India

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Amrik Singh

Designation :

Director

Address :

20, B.T Road, Kolkata-700002, West Bengal, India

Date of Birth/Age :

19.04.1966

Date of Appointment :

11.11.2005

DIN No.:

00849032

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U51909WB2008PTC128294

CHATURBHUJ COMMOTRADE PRIVATE LIMITED

10/05/2010

-

U74120DL2008PTC174666

GOVINDA EASTERN DEVELOPERS PRIVATE LIMITED

28/09/2012

-

U70101WB2005PTC101157

NARULA INFRASTRUCTURE PRIVATE LIMITED

17/01/2005

-

U70101WB2004PTC098531

GAP INFRASTRUCTURE AND HOUSING PRIVATE LIMITED

21/11/2005

-

U60210WB2004PTC098026

NCS ROADWAYS PRIVATE LIMITED

08/03/2004

-

U51506WB1999PTC089606

HASH TECHNOLOGIES PRIVATE LIMITED

17/03/2015

-

U70101WB1998PTC086369

MODULAR BUILDERS PRIVATE LIMITED

30/09/2015

-

U25200WB2009PTC138849

PLASTO SHEET MFG PRIVATE LIMITED

29/09/2012

-

U65999WB1994PTC065531

POLPIT FINANCIAL CONSULTANTS PVT LTD

19/04/2010

-

U01409WB1994PTC063854

JSIS AGRO PVT. LTD.

08/07/1994

-

U70109WB1994PTC062903

KALA NIKETAN PVT. LTD.

01/04/2013

-

U27104WB1988PTC044687

JSIS IRON & STEEL INDIA PVT LTD

02/04/2005

-

U72200WB2012PLC181212

JIS KNOWLEDGE PARK LIMITED

01/05/2012

-

U80301JH2013PTC001075

JIS INDUSTRIAL TRAINING COMPANY PRIVATE LIMITED

01/04/2013

-

U80903WB2016NPL215473

GURUNANAK POLYTECHNIC FOUNDATION

12/04/2016

-

 

 

Name :

Mr. Taranjit Singh

Designation :

Director

Address :

7 Sarat Bose Road, Kolkata-700020, West Bengal, India

Date of Birth/Age :

04.04.1958

Date of Appointment :

11.11.2005

DIN No.:

01175324

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U60210WB2004PTC098026

NCS ROADWAYS PRIVATE LIMITED

08/03/2004

-

U65999WB1994PTC065531

POLPIT FINANCIAL CONSULTANTS PVT LTD

19/04/2010

-

U51909WB2008PTC128050

YASHODA GOODS PRIVATE LIMITED

10/05/2010

-

U70109WB1994PTC062903

KALA NIKETAN PVT. LTD.

01/04/2013

-

U27104WB1988PTC044687

JSIS IRON & STEEL INDIA PVT LTD

23/06/1988

-

 

U67120WB1893NPL000761

THE BENGAL CHAMBER OF COMMERCE AND INDUSTRY

20/10/2011

-

U45400WB2010PTC140651

SATNAM NIRMAN PRIVATE LIMITED

05/01/2010

-

U70101WB2004PTC098531

GAP INFRASTRUCTURE AND HOUSING PRIVATE LIMITED

08/08/2011

-

U70101WB2005PTC101157

NARULA INFRASTRUCTURE PRIVATE LIMITED

17/01/2005

-

U74900WB2010PTC146953

KRYTO TECH PRIVATE LIMITED

21/02/2017

-

U72200WB2012PLC181212

JIS KNOWLEDGE PARK LIMITED

01/05/2012

-

U80301JH2013PTC001075

JIS INDUSTRIAL TRAINING COMPANY PRIVATE LIMITED

01/04/2013

-

U80903WB2016NPL215473

GURUNANAK POLYTECHNIC FOUNDATION

12/04/2016

-

U80904WB2016NPL215517

GURUNANAK TECHNICAL FOUNDATION

26/04/2016

-

 

 

KEY EXECUTIVES

 

 

Name :

Mr. Pawan Sharma

Designation :

General Manager Finance

 

 

 

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

Haranjit Singh

 

7000

Taranjit Singh

 

7000

Amrik Singh

 

7000

Sardar Jodh Singh

 

520000

Maradona Holding Private Limited, India

 

164000

Anjanisut Realtors Private Limited, India

 

200000

Total

 

905000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

2.32

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

57.46

Public/Other than promoters - Body corporate

40.22

Total

100.00

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Transmission Tower and Telecom Tower. [Registered Activity and also Confirmed by Management]

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Manufacturing of tower parts and erection of tower

9962

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished goods

Countries :

·         Nepal

·         Bhutan

·         Bangladesh

·         African Countries

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Advance Payment and Cheque

 

 

Purchasing :

Advance Payment and Cheque

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

Reference:
  • Baba Structural Private Limited

 

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

  • EMC Limited

 

 

Customers :

Retailers, End Users

 

Reference:
  • Bharati Infratel Limited (Bihar)

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

  • RMEC Project Limited

 

 

No. of Employees :

30 [Approximately]

 

 

Bankers :

 

Bank Name:

Axis Bank Limited

Branch:

126 A, Bidhan Sarani, 5 Point Crossing Shyambazar, Kolkata-700004, West Bengal, India

Person Name (with Designation):

--

Contact Number:

91-33-25437981/ 2543785

Name of Account Holder:

--

Account Number:

IFSC CODE: UTIBC0000084

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

--

Average Balance Maintained (Optional):

 --

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

--

Account Operation:

--

Remarks:

Continuously ringing

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Term Loan from Banks

0.000

8.013

SHORT TERM BORROWING

 

 

From Banks (OD A/c)

35.537

38.827

Total

35.537

46.840

 

 

Auditors :

 

Name :

Bothra Nirmal Associates

Chartered Accountants

Address :

7/1B Grant Lane, Shyam Kunj, 1ST Floor, Room No.15, Kolkata – 700012, West Bengal, India

Tel. No.:

91-33-22255810/ 967

Fax No.:

91-33-2236-8814

E-Mail :

bothrabna@redffmail.com

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

AACFB3320N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates:

·         JSIS Iron and Steel India Private Limited

·         Mesa Narula Infra Projects Private Limited

·         Mesa Narula (JV)

·         Mesa Narula -Jhajharia(JV)

·         Polpit Financial Consultant Private Limited

·         Nerula Education Trust

·         Narula Infrastructure Private Limited

·         Northern Cargo Service

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

INR 10/- each

INR 10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

905000

Equity Shares

INR 10/- each

INR 9.050 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

9.050

9.050

9.050

(b) Reserves & Surplus

31.857

31.000

24.824

(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)

40.907

40.050

33.874

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

76.025

138.096

53.250

(b) Deferred tax liabilities (Net)

0.723

0.797

0.644

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

76.748

138.893

53.894

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

35.537

38.827

16.948

(b) Trade payables

0.746

19.752

32.962

(c) Other current liabilities

1.423

7.435

9.525

(d) Short-term provisions

2.570

3.471

1.965

Total Current Liabilities (4)

40.276

69.485

61.400

 

 

 

 

TOTAL

157.931

248.428

149.168

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5.659

5.629

6.796

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

3.633

4.389

0.713

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

9.292

10.018

7.509

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

46.787

45.947

50.448

(c) Trade receivables

66.173

167.857

74.335

(d) Cash and cash equivalents

13.433

4.906

2.504

(e) Short-term loans and advances

22.246

19.700

14.372

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

148.639

238.410

141.659

 

 

 

 

TOTAL

157.931

248.428

149.168

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

115.183

197.478

114.791

 

Other Income

6.712

0.201

1.201

 

Prior Period Income

0.000

0.093

0.000

 

TOTAL

121.895

197.772

115.992

 

 

(Due to received less order)

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

75.071

137.761

80.646

 

Purchases of Stock-in-Trade

2.412

0.137

6.270

 

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

2.083

(2.265)

0.231

 

Employees benefits expense

4.873

5.419

2.796

 

Other expenses

22.519

34.861

15.837

 

Prior Period expenses 

0.042

0.036

0.000

 

TOTAL

107.000

175.949

105.780

 

 

 

 

 

 

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

14.895

21.823

10.212

 

 

 

 

 

Less

FINANCIAL EXPENSES

12.269

12.512

7.187

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

2.626

9.311

3.025

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1.138

1.405

1.061

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1.488

7.906

1.964

 

 

 

 

 

Less

TAX

0.635

1.659

0.982

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

0.853

6.247

0.982

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

0.94

6.90

1.09

 

 

Expected Sales (2017-2018): INR 200.000 Million

 

The above information has been parted by Mr. Pawan Sharma [General Manager Finance]

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

0.000

1.061

0.000

 

 

 

 

Cash generated from operations

88.040

(87.988)

(3.872)

 

 

 

 

Net Cash flow from (used in) Operating activities

86.429

(87.988)

(3.872)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

209.69

310.25

236.36

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

1.74

1.18

1.54

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

3.51

52.28

138.42

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.32

0.47

0.20

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

2.63

3.88

1.50

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.74

0.84

0.77

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

2.73

4.44

2.07

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.98

1.73

1.81

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.14

0.14

0.20

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.21

1.74

1.42

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

0.74

3.16

0.86

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.54

2.51

0.66

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

2.09

15.60

2.90

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

3.69

3.43

2.31

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

2.53

2.77

1.49

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.26

0.16

0.23

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

12.33

19.67

7.76

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

3.69

3.43

2.31

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

9.050

9.050

9.050

Reserves & Surplus

24.824

31.000

31.857

Share Application money pending allotment

0.000

0.000

0.000

Net worth

33.874

40.050

40.907

 

 

 

 

Long Term borrowings

53.250

138.096

76.025

Short Term borrowings

16.948

38.827

35.537

Current Maturities of Long term debt

0.000

1.061

0.000

Total borrowings

70.198

177.984

111.562

Debt/Equity ratio

2.072

4.444

2.727

 

 

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

114.791

197.478

115.183

 

 

72.033

-41.673

 

 

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

114.791

197.478

115.183

Profit

0.982

6.247

0.853

 

0.86%

3.16%

0.74%

 

 

 

 

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

Yes

19

Major customers

Yes

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%

Yes

28

Estimation for coming financial year

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

UNSECURED LOANS:

 

(INR In Million)

Particulars

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Term Loan from Banks

0.000

0.281

Loans and Advances from Bodies Corporate and Others

76.025

129.802

Total

76.025

130.083

 

INDEX OF CHARGE:

 

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

AMOUNT

ADDRESS

1

G15578701

10580269

AXIS BANK LIMITED

25/06/2015

29/08/2016

30000000.0

"TRISHUL', 3RD FLOOR, OPP TO SAMARTHESHWAR TEMPLELAW GARDEN, ELLIS BRIDGEAHMEDABADGJ380006IN

2

A16187247

10054831

CANARA BANK

11/04/2007

-

40000000.0

CHOWRINGHEE BRANCH7, KYD STREETKOLKATAWB700016IN

 

FIXED ASSETS:

 

·         Air Conditioner

·         Building

·         Car

·         Computer and Printers

·         Cycle

·         Furniture and Fixture

·         Gas and Oven

·         Generator

·         Mobile Phone

·         Tube well

·         Electrical Fitting

·         Plant and Machinery

 

 

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 :

GYT

 

 

Analysis Done by :

VAR

 

 

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

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.