|
|
|
MIRA INFORM REPORT
|
Report No. : |
507158 |
|
Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
ICICI Lombard House, 414, Veer Savarkar Marg, Near Siddhivinayak
Temple, Prabhadevi, Mumbai – 400025, Maharashtra |
|
Tel. No.: |
91-22-24906999 |
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|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2018 |
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|
|
|
Date of
Incorporation : |
30.10.2000 |
|
|
|
|
Com. Reg. No.: |
11-129408 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 4539.483 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L67200MH2000PLC129408 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0307000150 |
|
|
|
|
GSTIN : [Goods & Service Tax Registration No.] |
27AAACI7904G1ZN |
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|
|
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TIN No : |
27190699359 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACI7904G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Providing Insurance Services. (Registered Activity) |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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Comments : |
Subject is a joint venture between ICICI Bank Limited, India and Fairfax Financial Holdings Limited, Canada, incorporated in the year 2000. It is engaged in providing insurance services. It is a well-established and reputed company having excellent track record. As per the financial of 2018, the company has healthy operational activity marked by impressive revenue profile along with decent profitability. The company possesses sound financial position marked by robust net worth base along with low debt balance sheet profile. The rating also takes into account subject’s market standing as one of the India’s largest private sector general insurer and consistently strong financial performance. Further, the rating also takes into consideration the operational and financial support that the company receives from its parent ICICI Bank Limited. Business is active. Payments are reported to be regular and as per commitments. In view of the aforesaid, the company can be considered good for business dealings at usual trade terms and conditions. |
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Loans = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk |
|
Date |
17.04.2018 |
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
31-03-2018.
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 05.05.2018
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.: 91-22-24906999)
LOCATIONS
|
Registered Office : |
ICICI Lombard House, 414, Veer Savarkar Marg, Near Siddhivinayak
Temple, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-26531414 / 24906999 |
|
Fax No.: |
91-22-26531230 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Zenith House Keshav Rao, Khadye Marg, 2nd Floor, Opposite
Race Course, Mahalaxmi, Mumbai – 400034, Maharashtra, India |
|
Tel. No.: |
91-22-24906999 |
|
|
|
|
Mailing Address : |
401 and 402, 4th Floor, Interface 11, New Linking Road,
Malad (West), Mumbai -400064, Maharashtra, India |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Ved Prakash Chaturvedi |
|
Designation : |
Director |
|
Address : |
D-3301/2, 33rd Floor, Ashok Tower, 63/74 Dr.
S. S. Rao Marg, Parel, Mumbai- 400012, Maharashtra, India |
|
Date of Appointment : |
13.07.2016 |
|
DIN No.: |
00030839 |
|
|
|
|
Name : |
Mr. Uday Madhav Chitale |
|
Designation : |
Director |
|
Address : |
167-C, Poonawadi Dr. Ambedkar Road, Dadar
(East), Mumbai-400014, Maharashtra, India |
|
Date of Appointment : |
19.04.2016 |
|
PAN No.: |
AAAPC8264G |
|
DIN No.: |
00043268 |
|
|
|
|
Name : |
Mr. Bhargav Dasgupta |
|
Designation : |
Managing Director |
|
Address : |
A-801,
El-Dorado, Kashinath Dhuru Marg, Prabhadevi, Mumbai - 400025, Maharashtra,
India |
|
Date of Birth/Age : |
20.06.1966 |
|
Date of Appointment : |
01.05.2009 |
|
Qualification : |
PGDM, IIM Bangalore, B.E. (Mechanical) |
|
DIN No.: |
00047728 |
|
|
|
|
Name : |
Mr. Alok Kumar Agarwal |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No. 301,
ICICI Bank Apartments, Kirti College Lane, Dadar (West), Mumbai - 400028, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1967 |
|
Date of Appointment : |
19.01.2011 |
|
Qualification : |
B.E. (Chemical) PGDM, (IIM Calcutta) |
|
DIN No.: |
03434304 |
|
|
|
|
Name : |
Mr. Sanjeev Radheyshyam Mantri |
|
Designation : |
Whole-Time Director |
|
Address : |
1602, B Wing, Vivarea, Saat Rasta, Near Jacob Circle, Mahalaxmi, Mumbai - 400011, Maharashtra, India |
|
Date of Birth/ Age: |
27.10.1970 |
|
PAN No.: |
AAFPM0064K |
|
Date of Appointment : |
02.05.2015 |
|
DIN No.: |
07192264 |
|
|
|
|
Name : |
Mr. Ashvin Dhirajlal Parekh |
|
Designation : |
Director |
|
Address : |
501, 5th
Floor, Raheja Princess, S K Bole Road, Prabhadevi, Mumbai - 400025,
Maharashtra, India |
|
Date of Birth/Age : |
13.05.1953 |
|
Date of Appointment : |
18.04.2014 |
|
Qualification : |
F.C.A |
|
DIN No.: |
06559989 |
|
|
|
|
Name : |
Mr. Suresh Muthukrishna Kumar |
|
Designation : |
Director |
|
Address : |
H.H. Sh. Hamdan Bin Rashid Villa, 352/26B Jumeirah Area, N.R. Arenco Villas, Villa-05 (76) Dubai- 2923, AE |
|
Date of Birth: |
08.07.1950 |
|
Date of Appointment : |
01.06.2016 |
|
PAN No.: |
AAGPM9061M |
|
DIN No.: |
00494479 |
|
|
|
|
Name : |
Ms. Lalita Dileep Gupte |
|
Designation : |
Director |
|
Address : |
153C, Mhaskar Building, Sir Bhalchandra Road, Matunga, Mumbai-400019, Maharashtra, India |
|
Date of Appointment : |
18.10.2016 |
|
DIN No.: |
00043559 |
|
|
|
|
Name : |
Ms. Chanda Deepak Kochhar |
|
Designation : |
Nominee Director |
|
Address : |
CCI Chambers, Flat No.45, Dinshaw Vachha Road, Churchgate, Mumbai -400028, Maharashtra, India |
|
Date of Birth/Age : |
17.11.1961 |
|
Date of Appointment : |
01.09.2008 |
|
Qualification : |
B.A, MBA, ICWA, MMS (Finance) |
|
DIN No.: |
00043617 |
|
|
|
|
Name : |
Mr. Kannan Narayanan Srinivasa |
|
Designation : |
Nominee Director |
|
Address : |
Flat No.204, Tower - B, Kalpataru, Horizon, S.K. Ahire Marg, Worli, Mumbai - 400018, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1965 |
|
Date of Appointment : |
01.05.2009 |
|
Qualification : |
B.E. (Hon), PGDM, IIM, Bangalore, CFA |
|
DIN No.: |
00066009 |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Ghanshyam Lal Mehra |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.602,
Harmony CHS, Near HDFC Bank, Dindoshi, A Karmakar Marg, Goregaon (East),
Mumbai - 400063, Maharashtra, India |
|
Date of Birth/Age : |
08.02.1970 |
|
Date of Appointment : |
23.06.2010 |
|
PAN No.: |
AAZPM3180C |
|
|
|
|
Name : |
Mr. Gopal Balachanran |
|
Designation : |
Chief Financial Officer |
|
Address : |
32, Swati Tarangan, Pokhran Road No.1, Near Cadbury Factory, Thane
(West), Thane – 400606, Maharashtra, India |
|
Date of Appointment : |
17.07.2015 |
|
PAN No.: |
ABQPB5092E |
MAJOR SHAREHOLDERS
As on 31.03.2018
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter & Promoter Group |
253843806 |
55.92 |
|
|
(B) Public |
200104498 |
44.08 |
|
|
Grand Total |
453948304 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND
PROMOTER GROUP
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Financial Institutions/ Banks |
253843806 |
55.92 |
|
|
ICICI Bank Ltd |
253843806 |
55.92 |
|
|
Sub Total A1 |
253843806 |
55.92 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
253843806 |
55.92 |
STATEMENT
SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
31719355 |
6.99 |
|
|
KOTAK MAHINDRA BALANCE UNIT SCHEME 99 |
5224584 |
1.15 |
|
|
MOTILAL OSWAL MOST FOCUSED 25 FUND |
6946745 |
1.53 |
|
|
Alternate Investment Funds |
9679285 |
2.13 |
|
|
IIFL SPECIAL OPPORTUNITIES FUND |
4558558 |
1.00 |
|
|
Foreign Portfolio Investors |
29151402 |
6.42 |
|
|
Financial Institutions/ Banks |
168681 |
0.04 |
|
|
Sub Total B1 |
70718723 |
15.58 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
16158784 |
3.56 |
|
|
Individual share capital in excess of INR 0.200 Million |
11705877 |
2.58 |
|
|
NBFCs registered with RBI |
917740 |
0.20 |
|
|
Any Other (specify) |
100603374 |
22.16 |
|
|
Trusts |
234900 |
0.05 |
|
|
Non-Resident Indian (NRI) |
508112 |
0.11 |
|
|
Clearing Members |
144183 |
0.03 |
|
|
Director or Director's Relatives |
832798 |
0.18 |
|
|
Others |
661608 |
0.15 |
|
|
Bodies Corporate |
5141616 |
1.13 |
|
|
Overseas Corporate Bodies |
93080157 |
20.50 |
|
|
TAMARIND CAPITAL PTE LTD |
7211596 |
1.59 |
|
|
FAL CORPORATION |
44978770 |
9.91 |
|
|
RED BLOOM INVESTMENT LTD |
40889791 |
9.01 |
|
|
Sub Total B3 |
129385775 |
28.50 |
|
|
B=B1+B2+B3 |
200104498 |
44.08 |
BUSINESS DETAILS
|
Line of Business : |
Providing Insurance Services. (Registered Activity) |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
|
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|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Company Chartered Accountants |
|
Address : |
81, Mittal Chambers, 228, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22880465 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2018
Authorised Capital : INR 4750.000 Million
Issued, Subscribed & Paid-up Capital : INR 4539.483
Million
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
SHAREHOLDERS
FUNDS |
|
|
|
|
Share capital |
4539.483 |
4511.507 |
4475.000 |
|
Reserves and Surplus |
40872.146 |
32741.436 |
27281.000 |
|
Share application money-pending allotment |
0.000 |
12.755 |
0.000 |
|
Fair value change account |
7338.716 |
6772.438 |
3090.000 |
|
Borrowings |
4850.000 |
4850.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
57600.345 |
48888.136 |
34847.000 |
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
Investments |
181926.680 |
149504.515 |
115625.000 |
|
Loans |
0.000 |
0.000 |
0.000 |
|
Fixed assets |
4059.857 |
3826.654 |
3831.000 |
|
Deferred Tax Assets |
2114.128 |
872.289 |
1342.000 |
|
Current assets |
|
|
|
|
Cash and bank balances |
5918.164 |
1940.353 |
1948.000 |
|
Advances and other assets |
103477.760 |
77364.944 |
34012.000 |
|
Sub-Total (A) |
109395.924 |
79305.297 |
35960.000 |
|
|
|
|
|
|
Current liabilities |
195112.294 |
149135.765 |
90754.000 |
|
Provisions |
44783.950 |
35484.854 |
31158.000 |
|
Sub-Total (B) |
239896.244 |
184620.619 |
121911.000 |
|
|
|
|
|
|
Net current assets
(C) = (A - B) |
(130500.320) |
(105315.322) |
(85952.000) |
|
|
|
|
|
|
Miscellaneous expenditure (to the extent not written off or adjusted) |
0.000 |
0.000 |
0.000 |
|
Debit balance in profit and loss account |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
57600.345 |
48888.136 |
34847.000 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
Gross written
Premium |
126000.700 |
109604.600 |
82960.000 |
|
Reinsurance
ceding |
0.000 |
0.000 |
28611.000 |
|
Net Written
premium |
78447.600 |
65948.000 |
54349.000 |
|
Net earned
Premium |
69117.300 |
61636.000 |
48216.000 |
|
Reinsurance
Commission |
0.000 |
0.000 |
7081.000 |
|
Other Income |
278.600 |
446.700 |
0.000 |
|
Investment
Income |
11267.500 |
10012.300 |
0.000 |
|
|
|
|
|
|
TOTAL INCOME |
80663.400 |
72095.000 |
55297.000 |
|
|
|
|
|
|
Net incurred
claims |
53147.200 |
49543.300 |
39282.000 |
|
Commission
Expenses |
0.000 |
0.000 |
3801.000 |
|
Operating
expenses |
18279.100 |
15479.100 |
16712.000 |
|
TOTAL EXPENSES |
71426.300 |
65022.400 |
59795.000 |
|
|
|
|
|
|
Operating Profit/ Loss |
|
|
|
|
Underwriting
result |
9237.100 |
7072.600 |
(4498.000) |
|
Investment
Income |
4058.900 |
3092.200 |
11575.000 |
|
Other Income |
81.500 |
20.100 |
0.000 |
|
Total |
13377.500 |
10184.900 |
7077.00 |
|
Less : Expenses |
1415.11 |
1083.900 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11962.400 |
9101.000 |
7077.000 |
|
|
|
|
|
|
TAX EXPENSES |
|
|
|
|
Current Tax |
3344.600 |
2082.200 |
2264.000 |
|
Deferred Tax
(Income)/ Expenses |
0.000 |
0.000 |
(262.000) |
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
8617.800 |
7018.800 |
5074.000 |
|
|
|
|
|
|
Earnings Per Share |
|
|
|
|
- Basic |
19.01 |
15.66 |
11.35 |
|
- Diluted |
18.99 |
15.58 |
11.27 |
|
Solvency ration |
2.05 |
2.10 |
1.82 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
NA |
NA |
NA |
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 747.55/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
4475.000 |
4511.507 |
4539.483 |
|
Reserves & Surplus |
27281.000 |
32741.436 |
40872.146 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
12.755 |
0.000 |
|
Net
worth |
31756.000 |
37265.698 |
45411.629 |
|
|
|
|
|
|
Borrowings |
0.000 |
4850.000 |
4850.000 |
|
Total
borrowings |
0.000 |
4850.000 |
4850.000 |
|
Debt/Equity
ratio |
0.000 |
0.130 |
0.107 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
55297.000 |
72095.000 |
80663.000 |
|
|
|
30.378 |
11.884 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
55297.000 |
72095.000 |
80663.000 |
|
Profit |
5074.000 |
7018.800 |
8617.800 |
|
|
9.18% |
9.74% |
10.68% |
LEGAL
CASE
HIGH COURT
|
AHMEDABAD HEIRS OF DECD. RAJNIKANT JASHWA NTBHAI RANA VS ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED |
|
High Court-Gujarat |
|
Case no:69. X-OBJ/35/2014 |
|
Case status:Pending |
|
Judge:HON'BLE MR.JUSTICE - 1 |
|
Date:2015-01-27T00:00:00Z |
HIGH COURT
|
JSW STEEL LIMITED VS ICICI LOMBARD GENERAL INSURANCE COMPANY LTD. |
|
High Court-Mum |
|
Case no:17. ARBP/1714/2014 |
|
Case Status: Pending |
|
Judge:HON'BLE SHRI JUSTICE G.S. PATEL |
|
Date:2015-05-02T00:00:00Z |
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 |
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 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 |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES : No
Charges Exists for Compan
FIXED ASSETS
· Goodwill
· Intangibles - Computer Software*
· Land-Freehold
· Leasehold Property
· Buildings
· Furniture & Fittings
· Information Technology Equipment
· Vehicles
· Office Equipment
· Others
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 66.77 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
TRUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--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.