|
|
|
MIRA INFORM REPORT
|
Report No. : |
507934 |
|
Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOMORROWLAND APPARELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit 321, Creative Industrial Centre, N.M. Joshi Marg, Lower Parel, Mumbai-400011, Maharashtra |
|
Tel. No.: |
91-22 -40043951 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.02.2014 |
|
|
|
|
Com. Reg. No.: |
11-253178 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 14.305 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18109MH2014PTC253178 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAECT9293M1ZH |
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|
|
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TIN No.: |
27891049532 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAECT9293M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of all types of Textile Garments and Clothing Accessories. [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 |
|
|
|
|
Comments : |
Subject was
incorporated in the year 2014 and it is having moderate track. The company
has been incurring losses since last two financial years. Rating takes
into consideration moderate financial profile of the company marked by modest
networth base. Further,
rating is constrained on account of short track records along with modest
revenue from operation, continuously incurring losses from its business inception
and intense competition from industry. Trade
relations are reported to be fair. Business is active. Payment terms are slow
but correct. In view of the aforesaid, the company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2018.
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 09.05.2018.
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 BY
|
Name : |
Mr. Nikhil Parmar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9769627682 |
|
Date : |
07.05.2018 |
LOCATIONS
|
Registered Office : |
Unit 321, Creative Industrial Centre, N.M. Joshi Marg, Lower Parel, Mumbai-400011, Maharashtra, India |
|
Tel. No.: |
91-22-40043951 |
|
Mobile No.: |
91-9769627682 [Mr. Nikhil Parmar] |
|
Fax No.: |
Not Available |
|
E-Mail : |
accounts@bombayshirts.com |
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Amitkumar Gajendrakumar Patni |
|
Designation : |
Director |
|
Address : |
Flat No. 21 - B, 2nd Floor, Maker Tower - B Cuffe Parade,
Mumbai-400005, Maharashtra, India |
|
Date of Appointment : |
09.05.2014 |
|
DIN No.: |
00014260 |
|
|
|
|
Name : |
Mr. Amit Mahendra Mehta |
|
Designation : |
Director |
|
Address : |
92, 9th Floor, Casa Grande Co-Op Hsg.Society Ltd. 22, K.S.Tayabji
Marg, Malabar Hill, Mumbai-400006, Maharashtra, India |
|
Date of Appointment : |
30.09.2017 |
|
DIN No.: |
00073907 |
|
|
|
|
Name : |
Mr. Akshay Nitin Narvekar |
|
Designation : |
Director |
|
Address : |
208, Cumballa Crest 42, G Deshmukh Marg, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
13.05.1982 |
|
Date of Appointment : |
12.02.2014 |
|
PAN No.: |
ADQPN0956M |
|
DIN No.: |
03390574 |
|
|
|
|
Name : |
Mr. Simon Jacob Alexander |
|
Designation : |
Director |
|
Address : |
M-103 Kaveri Appt., Plot No.4 Sec 6 Dwarka, New
Delhi-110075, India |
|
Date of Appointment : |
17.07.2014 |
|
DIN No.: |
06459319 |
|
|
|
|
Name : |
Mr. Nitin Madhukar Narvekar |
|
Designation : |
Director |
|
Address : |
208 Cumballa Crest, 42 Gopalrao Deshmukh Marg Behind Hsbc
Bank, Pedder Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
19.01.1956 |
|
Date of Appointment : |
12.02.2014 |
|
DIN No.: |
06462373 |
|
|
|
|
Name : |
Benaifer Rajesh Malandkar |
|
Designation : |
Director |
|
Address : |
2102, Rizvi Heights, Pitamber Lane, Near Canossa Primary
School, Mahim, Mumbai-400016, Maharashtra, India |
|
Date of Appointment : |
17.07.2014 |
|
DIN No.: |
06887785 |
KEY EXECUTIVES
|
Name : |
Mr. Akshay Nitin Narvekar |
|
Designation : |
Chief Executive Officer (KMP) |
|
Address : |
208, Cumballa Crest 42, G Deshmukh Marg, Mumbai-400026,
Maharashtra, India |
|
Date of Appointment : |
17.07.2014 |
|
PAN No.: |
ADQPN0956M |
|
|
|
|
Name : |
Mr. Nikhil Parmar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Akshay Narvekar |
|
498858 |
|
Amit Mehta |
|
76807 |
|
Harsh Mehta |
|
11668 |
|
Mohak Mehta |
|
11668 |
|
Niyati Tanna Mehta |
|
7001 |
|
Cherry Mehta |
|
11668 |
|
Aneesa Dhody Mehta |
|
2801 |
|
Perfochem India Private Limited |
|
5134 |
|
Arihant Patni |
|
60219 |
|
Atul Kasbekar |
|
23575 |
|
Benaifer Malandkar |
|
24147 |
|
Bhavinee Amin |
|
55015 |
|
ESOP Trust |
|
31232 |
|
Nitin Narvekar |
|
25010 |
|
RAAY Global Investments Private Limited |
|
241167 |
|
Saurabh Chattopadhya |
|
11750 |
|
Sharan Parikh |
|
55171 |
|
Simon Jacob |
|
113216 |
|
Viren Desai |
|
24332 |
|
Anees Fazalbhoy |
|
140011 |
|
|
|
|
|
Total |
|
1430450 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
61.40 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
36.06 |
|
Public/Other than promoters - Body Corporate |
0.36 |
|
Public/Other than promoters – Others [Tomorrowland
Employee Trust] |
2.18 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of all types of Textile Garments and Clothing Accessories. [Registered Activity] |
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Products/ Services : |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 declined by the Management |
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Bankers : |
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Facilities : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
TMG and Associates Chartered Accountants |
|
Address : |
118, 1st Floor, Business Centre. Above Bhagwati, Restaurant, Near
Charkop Market, Kandivali – West, Mumbai-400067, Maharashtra, India |
|
Tel. No.: |
91-22-28089683/ 40110641 |
|
Mobile No.: |
91-9820469825 |
|
E-Mail : |
|
|
PAN No.: |
AAEFT4122A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Companies (in which director is interested : |
Raay Global Investments Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3050000 |
Equity Shares |
INR 10/- each |
INR 30.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1430450 |
Equity Shares |
INR 10/- each |
INR 14.305
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
14.305 |
30.404 |
30.404 |
|
(b) Reserves & Surplus |
27.348 |
(13.298) |
(0.211) |
|
(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) |
41.653 |
17.106 |
30.193 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.592 |
0.360 |
0.189 |
|
Total
Non-current Liabilities (3) |
0.592 |
0.360 |
0.189 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
4.518 |
2.386 |
0.812 |
|
(c)
Other current liabilities |
9.860 |
4.653 |
1.711 |
|
(d)
Short-term provisions |
0.623 |
0.419 |
0.076 |
|
Total
Current Liabilities (4) |
15.001 |
7.458 |
2.599 |
|
|
|
|
|
|
TOTAL |
57.246 |
24.924 |
32.981 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
11.619 |
7.128 |
3.882 |
|
(ii)
Intangible Assets |
5.312 |
3.170 |
4.088 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.538 |
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 |
4.995 |
2.784 |
2.719 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
21.926 |
13.620 |
10.689 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4.463 |
2.973 |
1.478 |
|
(c)
Trade receivables |
0.280 |
0.214 |
0.276 |
|
(d)
Cash and cash equivalents |
29.574 |
7.772 |
20.274 |
|
(e)
Short-term loans and advances |
0.556 |
0.106 |
0.096 |
|
(f)
Other current assets |
0.447 |
0.239 |
0.168 |
|
Total
Current Assets |
35.320 |
11.304 |
22.292 |
|
|
|
|
|
|
TOTAL |
57.246 |
24.924 |
32.981 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
74.284 |
46.899 |
22.221 |
|
|
|
Other Income |
3.367 |
1.396 |
0.604 |
|
|
|
TOTAL |
77.651 |
48.295 |
22.825 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
27.144 |
17.245 |
7.215 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(0.918) |
(0.948) |
(0.091) |
|
|
|
Employees benefits expense |
32.554 |
17.316 |
10.823 |
|
|
|
Other expenses |
45.497 |
24.728 |
15.541 |
|
|
|
Extraordinary Items |
0.000 |
0.403 |
0.000 |
|
|
|
TOTAL |
104.277 |
58.744 |
33.488 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(26.626) |
(10.449) |
(10.663) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.286 |
0.723 |
0.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(27.912) |
(11.172) |
(10.942) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.542 |
1.914 |
1.587 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(30.454) |
(13.086) |
(12.529) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
(0.012) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(30.454) |
(13.086) |
(12.517) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales/ Revenue |
4.969 |
1.812 |
0.000 |
|
|
TOTAL EARNINGS |
4.969 |
1.812 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
(21.29) |
(4.30) |
(4.12) |
|
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 |
(26.749) |
(7.998) |
NA |
|
|
|
|
|
|
Net Cash flow from Operating Activities |
(26.813) |
(8.008) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
1.38 |
1.67 |
4.53 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
265.30 |
219.15 |
80.51 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
60.75 |
50.50 |
41.08 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
-5.97 |
-3.51 |
-7.21 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
-1.57 |
-0.96 |
-1.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.26 |
0.30 |
0.08 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.36 |
0.44 |
0.09 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.41 |
0.63 |
0.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(20.70) |
(14.45) |
(38.22) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(41.00) |
(27.90) |
(56.33) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(53.20) |
(52.50) |
(37.95) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(73.11) |
(76.50) |
(41.46) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.35 |
1.52 |
8.58 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.06 |
1.12 |
8.01 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.73 |
0.69 |
0.92 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.35 |
1.52 |
8.58 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
30.404 |
30.404 |
14.305 |
|
Reserves & Surplus |
(0.211) |
(13.298) |
27.348 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
30.193 |
17.106 |
41.653 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
22.221 |
46.899 |
74.284 |
|
|
|
111.057 |
58.391 |
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 |
22.221 |
46.899 |
74.284 |
|
Profit/ (Loss) |
(12.517) |
(13.086) |
(30.454) |
|
|
(56.33%) |
(27.90%) |
(41.00%) |
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 |
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 |
Yes |
|
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 three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
FINANCIAL RESULTS
During the period, the company has recorded a higher
turnover and other income of INR 77.650 Million as against the turnover INR
48.295 Million of in the previous year, however it has incurred a loss after
tax at INR 30.454 Million as against INR 13.086 Million in the corresponding
period of previous year. The directors hope to achieve the better results in
the year to come.
FIXED ASSETS:
Tangible Assets
· Electrical and Fittings
·
Furniture and Fixtures
· Plant and Machinery
·
Computer
·
Office Equipment
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 67.08 |
|
UK Pound |
1 |
INR 91.14 |
|
Euro |
1 |
INR 80.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
IND |
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 |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.