|
|
|
MIRA
INFORM REPORT
|
Report No. : |
501162 |
|
Report Date : |
31.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAVERIX PLATFORMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4/B- 42, Kalpataru, Estate, JV Link Road, Andheri (East), Mumbai- 400093, Maharashtra |
|
Tel. No.: |
91-22-30952525 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
15.10.2015 |
|
|
|
|
Com. Reg. No.: |
11-269294 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 98.762 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74120MH2015PTC269294 |
|
|
|
|
IEC No.: |
Not Applicable [As informed by the management that firm does
not have export and import] |
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|
|
|
TIN No.: |
Not Divulged |
|
|
|
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GST No.: |
27AAJCM9743L1ZQ |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAJCM9743L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Distribution of Ready to Eat and Ready to Cook Food Products. [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 |
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|
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|
Comments : |
Maverix Platforms Private Limited was incorporated in the year 2015.
The company is engaged in producing and selling ready to cook food products
under the brand name of fingerlix. As per the financial records of 2017, the company has achieved sales
turnover of INR 10.46 million and has incurred operational losses. The moderate financial position of the company is marked by negative
reserve base. Business is active. Payment seems to be slow but correct In view of aforesaid, the company can be considered for business dealings
with same caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 31.03.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-22-30952525]
LOCATIONS
|
Registered Office : |
4/B- 42, Kalpataru, Estate, JV Link Road, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Tel. No.: |
91-22-30952525 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head Office: |
Ground Floor,
Vijay Transtech, 35, Chandivli Village, Off Saki Vihar Road, Chandivali, Mumbai – 400 072, Maharashtra,
India |
|
Tel. No.: |
91-22-49224900 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Shripad Shrikrishna Nadkarni |
|
Designation : |
Director |
|
Address : |
2401, 24th Floor, Beau Monde Tower-A, A Marathe Marg, Prabhadevi, Mumbai - 400025 Maharashtra, India |
|
Date of Birth/Age : |
19.05.1961 |
|
Qualification: |
MBA (IIM-B) |
|
Date of Appointment : |
15.10.2015 |
|
PAN No.: |
AAAPN5042K |
|
DIN No.: |
00075371 |
|
|
|
|
Name : |
Mr. Mukul Gulati |
|
Designation : |
Alternate Director |
|
Address : |
Villa 290, St Phase, Adarsh Palm Meadows Ramagondanahalli , Airport Road, Whitefi Eld, Bangalore - 560066, Karnataka, India |
|
Date of Appointment : |
24.11.2017 |
|
DIN No.: |
00746183 |
|
|
|
|
Name : |
Mr. Pankaj Raina |
|
Designation : |
Nominee Director |
|
Address : |
E-401, Garnet Block, Rainbow Vistas, Green Hills Road, Moosapet, Balanagar, Hyderabad - 500018, Telangana, India |
|
Date of Appointment : |
17.04.2017 |
|
DIN No.: |
06584042 |
|
|
|
|
Name : |
Mr. Shrikrishna Baliram Bharambe |
|
Designation : |
Director |
|
Address : |
Flat No. 4b/42, Kalpataru Estate Chs Ltd, J. V. Link Road., Andheri - E, Mumbai 400093, Maharashtra, India |
|
Date of Birth/Age : |
18.10.1971 |
|
Qualification : |
MBA (IIM-B) |
|
Date of Appointment : |
15.10.2015 |
|
PAN No.: |
AEFPB8368D |
|
DIN No.: |
07283879 |
KEY EXECUTIVES
|
Name : |
Mrs. Duhita Vidyadhar Chakradeo |
|
Designation : |
Company Secretary |
|
Address : |
B 301, Matoshree Residency, Prarthana Samaj Road, Vile Parle (East), Mumbai 400057, Mumbai - 400057, Maharashtra, India |
|
Date of Appointment : |
11.10.2017 |
|
PAN No.: |
APOPC6695N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Shripad Shrikrishna Nadkarni |
|
1066667 |
|
Shrikrishna Baliram Bharambe |
|
533333 |
|
JAnardan Kumar Kothari |
|
50237 |
|
Ajaya Suraj Bhan Jian |
|
50237 |
|
Saurabh Ajaya Jain |
|
25118 |
|
Ashwini Vishan Jain |
|
25118 |
|
Ashwini Vishan Chandra Agradha Vikash Saraf |
|
25118 |
|
Santosh Ramesh Desai |
|
25118 |
|
Elecom Exports Private Limited, India |
|
25118 |
|
Sangeeta Damodar Mall |
|
25118 |
|
Venktesh Investment and Trading Company Private Limited, India |
|
25118 |
|
Zephyr Peacock India Fund III Limited, India |
|
5 |
|
|
|
|
|
Total |
|
1876305 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Venktesh Investment and Trading Company Private Limited, India |
|
1000000 |
|
Reena Mitesh Shah Mitesh N Shah |
|
1000000 |
|
Zephyr Peacock India Fund III Limited, India |
|
5999881 |
|
Total |
|
7999881 |
AS ON: 16.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Indian) |
85.27 |
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
12.05 |
|
Public/Other than promoters (Bodies corporate) |
2.68 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Distribution of Ready to Eat and Ready to Cook Food Products. [Registered Activity] |
||||
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Products : |
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||||
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||||
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Brand Names : |
“FINGERLIX” |
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||||
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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Terms : |
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||||
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
K. C. Desai and Company Chartered Accountants |
|
Address : |
Meghji Bhavan, 1st Floor, Barrack Road, Behind Metro Cinema, Mumbai-400020, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPD8612K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AFTE 16.09.2017
Authorised Capital : INR 197.500 Million
Issued, Subscribed & Paid-up Capital : INR 191.182
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
|
12000000 |
Preference Share |
INR 10/- each |
INR 120.000 Million |
|
|
Total |
|
INR 145.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1876305 |
Equity Shares |
INR 10/- each |
INR 18.763 Million |
|
7999881 |
Preference Share |
INR 10/- each |
INR 79.999 Million |
|
|
Total |
|
INR 98.762 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
98.762 |
16.000 |
|
(b) Reserves & Surplus |
|
(33.555) |
(7.950) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
65.207 |
8.050 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
17.500 |
7.500 |
|
(b) Deferred tax liabilities (Net) |
|
0.236 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
17.736 |
7.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
9.929 |
3.456 |
|
(c)
Other current liabilities |
|
2.112 |
1.488 |
|
(d)
Short-term provisions |
|
2.952 |
0.114 |
|
Total
Current Liabilities (4) |
|
14.993 |
5.058 |
|
|
|
|
|
|
TOTAL |
|
97.936 |
20.608 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
20.380 |
6.792 |
|
(ii)
Intangible Assets |
|
7.595 |
0.093 |
|
(iii)
Capital work-in-progress |
|
0.000 |
5.577 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
2.105 |
1.425 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
30.080 |
13.887 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
40.000 |
0.000 |
|
(b)
Inventories |
|
2.119 |
0.277 |
|
(c)
Trade receivables |
|
2.560 |
0.000 |
|
(d)
Cash and cash equivalents |
|
20.777 |
4.205 |
|
(e)
Short-term loans and advances |
|
2.400 |
2.239 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
67.856 |
6.721 |
|
|
|
|
|
|
TOTAL |
|
97.936 |
20.608 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
10.456 |
0.000 |
|
|
|
Other Income |
|
1.267 |
0.000 |
|
|
|
TOTAL |
|
11.723 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
11.815 |
0.020 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(0.236) |
0.000 |
|
|
|
Employees benefits expense |
|
36.149 |
0.757 |
|
|
|
Other expenses |
|
38.110 |
7.160 |
|
|
|
TOTAL |
|
85.838 |
7.937 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
(74.115) |
(7.937) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(74.115) |
(7.937) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
3.491 |
0.013 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
(77.606) |
(7.950) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.237 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX |
|
(77.843) |
(7.950) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic |
|
(42.73) |
(14.73) |
|
|
|
Diluted
|
|
(39.47) |
(14.73) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
|
(109.425) |
(6.820) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
|
(110.689) |
(6.820) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
89.36 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
4.08 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
306.74 |
63072.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
(34.98) |
(28.65) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
(2.65) |
(0.64) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
0.33 |
0.61 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
0.27 |
0.93 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
0.23 |
0.63 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
0.43 |
1.55 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
(744.48) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
(79.48) |
(38.58) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
(119.38) |
(98.76) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
Current Ratio (Current
Assets / Current Liabilities) |
|
4.53 |
1.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
4.38 |
1.27 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
0.67 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
0.18 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
4.53 |
1.33 |
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 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Share Capital |
16.000 |
98.762 |
|
Reserves & Surplus |
(7.950) |
(33.555) |
|
Money received against share
warrants |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net
worth |
8.050 |
65.207 |
|
|
|
|
|
long-term borrowings |
7.500 |
17.500 |
|
Short term borrowings |
0.000 |
0.000 |
|
Current Maturities of Long
term debt |
0.000 |
0.000 |
|
Total
borrowings |
7.500 |
17.500 |
|
Debt/Equity
ratio |
0.932 |
0.268 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
0.000 |
10.456 |
|
|
|
|
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales |
0.000 |
10.456 |
|
Profit/(Loss) |
(7.950) |
(77.843) |
|
|
|
(744.48%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 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 |
INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
17.500 |
7.500 |
|
|
|
|
|
Total |
17.500 |
7.500 |
BRIEF DESCRIPTION OF THE COMPANY'S WORKING
DURING THE YEAR/STATE OF COMPANY'S AFFAIR
Turnover of the company during the financial year 2016-17 was INR 10.456 million.
FEW HIGHLIGHTS OF COMPANY'S OPERATIONS IN
THE FINANCIAL YEAR 2016-17 WERE:
The Company reported a turnover of INR 10.456 million. The Company is in the business of production and sale of Ready to Cook food products without preservatives with a shelf life of approximately 7 days. There is no large organized brand with the range of fresh Ready to Cook offerings like Fingerlix. The Company has commenced operations during the year and has started selling its products through various Modern trade and General trade outlets in Mumbai and has extended its coverage to Pune also during the year. The initial response to the products is encouraging. Presently products are distributed in Mumbai and Pune which would extend to Delhi and NCR region and progressively to various cities in India. The Company uses discounts and promotions to drive consumer demand through modern trade and general trade. Net realization for our products is currently low due to promotional discounts given to customers which are basically demand generation activities. As they expand geographical distribution, they expect volumes to grow significantly and consequently cost of production and distribution to go down resulting in better profitability. The Company currently produces at its Central kitchen located at Chandivali. However new premises of about 10,000 sq. ft. have been taken on leave and license basis and a kitchen with a larger capacity as well as office space has been developed. Goods are sent to Pune from Mumbai only by road and it is proposed to cater to Delhi market from Mumbai kitchen to begin with. The Delhi kitchen is being set up for which premises have already been taken on leave and license basis. It is also being explored to get the products manufactured from third party manufacturers under Company's supervision which can bring cost efficiency and reduce cost of production. Research and Development is also underway to increase the shelf life of their products which can reduce wastages due to return of expired products. This would again lead to cost reduction and improvement in profitability. The major products of the Company are Amchoori Aloo Paratha, Lachha Paratha, Idli Dosa Batter, Dal Wada Batter, Sambar, Curry Leaf Chutney, Upma and Biryani mix. During the year Company raised funding from Angel Investors and series A funding from Private Equity Fund namely ZEPHYR PEACOCK INDIA FUND III LIMITED a Mauritius fund which has invested in Company in Equity and CCPS with further commitment to invest in next year. During the year a total of 0.276 million equity shares were issued to Angel Investors and PE fund totaling INR 52.515 million (including share premium), and 79,99,881 Compulsorily Convertible preference shares (CCPS) of total value of INR 79.999 million. These investments by Angel Investors and Private Equity fund shows confidence of Investor community in business model and promoters of the Company.
FIXED ASSETS:
·
Furniture and fixtures
·
Office equipment
·
Computer equipment’s
·
Leasehold improvements
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 |
|
UK Pound |
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION
DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 opera tions 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.