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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

508503

Report Date :

14.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SERVOTECH INDIA LIMITED

 

 

Registered Office :

501, Triveni Krupa, Carter Road No. 3, Opposite Ambajimata Temple, Borivali (East), Mumbai – 400066, Maharashtra

Tel. No.:

91-2228624357 / 58

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

09.07.1986

 

 

Com. Reg. No.:

11-040345

 

 

Capital Investment / Paid-up Capital :

INR 47.850 Million

 

 

CIN No.:

[Company Identification No.]

U29100MH1986PLC040345

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAFCS3985A1ZB

 

 

TIN No:

27630602602

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAFCS3985A

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The company’s principal business is manufacturer and Supply of turnkey projects of Solvent Extraction plants, Castor Oil Plants, Edible Oil plants, Oil Refinery Plants, Vanaspati Plants, and Dairy and food Processing Plants, Chemical/Petrochemical, Pharmaceutical Plants etc. Distilleries and its all type of equipment's, Accessories, Spare parts and Components. (Registered Activity)

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Maximum Credit Limit :

USD 310000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1986.


It is engaged in providing turnkey solutions in manufacturing & supply of machinery and equipment majorly used in the edible oil industry (Information gathered from other sources).


For the financial year 2017, the company has reported decline in its revenue as compared to previous year but has managed to maintain average profit margin of 1.71%.


The satisfactory financial profile of the company is marked by sufficient networth base along with comfortable debt coverage indicators.


The rating takes into consideration the subject’s long established track record of the business operations along with extensive experience of its promoters.


Business is active. Payment seems to be slow but correct



In view of aforesaid, the company can be considered 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.

 

 

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

 

Rating Agency Name

CARE

Rating

Long Term Bank Facilities (BB)

Rating Explanation

Moderate risk of default.

Date

05.04.2018

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities (A4)

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

05.04.2018

 

 

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 14.05.2018

 

 

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 DENIED BY

 

Name :

Mr. Murli Manohar Radheshyam Lahoti

Designation :

Director

Contact No.:

91-9892450932

Date :

13.05.2018

 

 

LOCATIONS

 

Registered Office :

501, Triveni Krupa, Carter Road No. 3, Opposite Ambaji Mata Temple, Borivali (East), Mumbai – 400066, Maharashtra, India

Tel. No. :

91-22- 28669600/ 28624357 / 58

Fax No. :

91-22-28083296

E-Mail :

info@servotech-india.com

Website :

www.servotech-india.com

 

 

Head Office :

203, Charted House or C.H. Street, Near Marine Lines Church, Mumbai – 400002, Maharashtra, India

Tel. No. :

91-22-22086368

Fax No. :

91-22-22067131

 

 

Factory :

Plot No. N – 63, MIDC, Tarapur, Boisar, District – Thane – 401501, Maharashtra, India

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Murli Manohar Radheshyam Lahoti

Designation :

Director

Address :

18 D, 303, Prem Apartment, Saibaba Nagar, Borivali (West), Mumbai – 400092, Maharashtra, India

Date of Birth/Age :

05.10.1980

Qualification :

Graduate

Date of Appointment :

02.07.2001

PAN No.:

ABOPL4021D

DIN No:

02570480

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U15549MH1987PTC042960

AMITEX AGRO PRODUCT PRIVATE LIMITED

13/08/2002

-

 

 

Name :

Mr. Bhagwandass Mundhra

Designation :

Director

Address :

9/702, Old MHB Colony, Gorai Road, Borivali (West), Mumbai – 400092, Maharashtra, India

Date of Birth/Age :

25.12.1951

Qualification :

Graduate

Date of Appointment :

07.05.2013

PAN No.:

AAFPM0434R

DIN No:

06570774

 

 

Name :

Mrs. Indiradevi Radheyshyam Lahoti

Designation :

Additional Director

Address :

18 D, 303, Prem Apartment, Saibaba Nagar, Borivali (West), Mumbai – 400092, Maharashtra, India

Qualification :

Graduate

Date of Appointment :

13.11.2017

DIN No:

07982657

 

 

KEY EXECUTIVES

 

Name :

Jaisal Mohatta and Associates

Designation :

Company Secretary

Address :

42, 1st Floor, Singh Industrial Estate No.3, Ram Mandir Road, Goregaon (West), Mumbai – 400104, Maharashtra, India

Mobile No:

91-9799661616

Email:

csjaisalmohatta@gmail.com

 

 

MAJOR SHAREHOLDERS

 

As on 31.03.2017

 

Name of Shareholders

 

No. of Shares

http://www.bseindia.com/include/images/clear.gifMurli Manohar Radheyshyam Lahoti

 

900000

http://www.bseindia.com/include/images/clear.gifMurli Manohar Lahoti HUF

 

315000

Nileshkumar Radheyshyam Lahotihttp://www.bseindia.com/include/images/clear.gif

 

150000

Radheyshyam Sitaram Lahoti

 

850000

Radheyshyam Lahoti HUF

 

250000

Nileshkumar R Lahotihttp://www.bseindia.com/include/images/clear.gif HUF

 

250000

Indiradevi Radheyshyam Lahoti

 

505000

Madhu Nileshkumar  Lahoti

 

20000

Lahoti Exports Private limited

 

970000

Quality Products Marketing Private Limited

 

575000

Total

 

4785000

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 29.09.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family – Indian)

21.94

Public/Other than promoters (Individual/Hindu Undivided Family – Indian)

45.77

Public/Other than promoters (Body corporate)

32.29

Total 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

The company’s principal business is manufacturer and Supply of turnkey projects of Solvent Extraction plants, Castor Oil Plants, Edible Oil plants, Oil Refinery Plants, Vanaspati Plants, and Dairy and food Processing Plants, Chemical/Petrochemical, Pharmaceutical Plants etc. Distilleries and its all type of equipment's, Accessories, Spare parts and Components. (Registered Activity)

 

 

Products / Services :

Item Code No.

Products/Services Description

23040020

Oil Cake of Soyabean, Solvent Extracted (Defatted) Variety

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Banker Name :

State Bank of Bikaner and Jaipur

Branch :

235/237, Peninsula House, D. N. Road, Mumbai - 400003, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

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

--

Account Operation :

--

Remark :

--

 

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

0.000

5.868

Short-term borrowings

0.000

0.000

Working capital loans from banks

99.251

77.803

Other loans and advances

20.087

19.089

Total

119.338

102.760

 

Auditors :

 

Name :

Amit and Disha Associates

Chartered Accountants

Address :

14, Chitalia House, 1st Floor, Dr. C.H. Street, Marine Lines, Mumbai - 400 002, Maharashtra, India

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

AAFFA5193F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Other Related Parties:

Amitex Agro Product Private Limited

 

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

INR 10/- each

INR 50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4785000

Equity Shares

INR 10/- each

INR 47.850 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

47.850

47.850

46.350

(b) Reserves and Surplus

61.173

50.398

37.425

(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)

109.023

98.248

83.775

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

26.198

36.245

57.345

(b) Deferred tax liabilities (Net)

3.609

3.040

2.060

(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)

29.807

39.285

59.405

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

119.338

96.892

100.089

(b) Trade payables

94.106

68.949

79.861

(c) Other current liabilities

75.734

146.308

18.389

(d) Short-term provisions

4.814

4.757

3.470

Total Current Liabilities (4)

293.992

316.906

201.809

 

 

 

 

TOTAL

432.822

454.439

344.989

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

75.537

79.224

76.124

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Tangible assets capital work-in-progress

0.000

0.000

0.184

(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 loans and advances

1.112

1.044

0.719

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

76.649

80.268

77.027

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

71.683

116.722

70.488

(c) Trade receivables

223.216

120.846

154.751

(d) Cash and bank balances

8.425

47.249

19.914

(e) Short-term loans and advances

29.914

66.140

7.258

(f) Other current assets

22.935

23.214

15.551

Total Current Assets

356.173

374.171

267.962

 

 

 

 

TOTAL

432.822

454.439

344.989

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Total Revenue from operations

629.902

693.072

668.672

 

Other Income

2.981

4.902

1.932

 

TOTAL

632.883

697.974

670.604

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

480.174

635.434

579.379

 

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

36.854

(33.496)

(10.970)

 

Employee benefit expense

25.874

23.627

20.501

 

Other expenses

46.773

30.989

42.837

 

TOTAL

589.675

656.554

631.747

 

 

 

 

 

 

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

43.208

41.420

38.857

 

 

 

 

 

Less

FINANCIAL EXPENSES

22.629

19.884

18.703

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

20.579

21.536

20.154

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

4.304

4.019

4.091

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

16.275

17.517

16.063

 

 

 

 

 

Less

TAX

5.501

5.803

5.652

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

10.774

11.714

10.411

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

2.232

2.52

2.25

 

 

 

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

 

 

 

 

Net cash flows from (used in) operations

(30.385)

52.595

7.537

 

 

 

 

Net cash flows from (used in) operating activities

(30.385)

52.595

2.840

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

[Sundry Debtors / Income * 365]

 

129.34

63.64

84.47

 

 

 

 

 

Account Receivables Turnover

[Income / Sunday Debtors]

 

2.82

5.74

4.32

 

 

 

 

 

Average Payment Days [Sundry Creditors / Purchases * 365]

 

71.53

39.61

50.31

 

 

 

 

 

Inventory Turnover [Operating Income / Inventories]

 

0.60

0.35

0.55

 

 

 

 

 

Asset Turnover [Operating Income / Net Fixed Assets]

 

0.57

0.52

0.51

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio [(Borrowing + Current Liabilities) / Total Assets]

 

0.74

0.78

0.75

 

 

 

 

 

Debt Equity Ratio (Borrowings / NetWorth)

 

1.33

1.36

1.88

 

 

 

 

 

Current Liabilities to Networth (Current Liabilities / NetWorth)

 

2.70

3.23

2.41

 

 

 

 

 

Fixed Assets to NetWorth (Net Fixed Assets / NetWorth)

 

0.69

0.81

0.91

 

 

 

 

 

Interest Coverage Ratio [PBIT / Financial Charges]

 

1.91

2.08

2.08

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin [(PAT / Sales) * 100]

(%)

1.71

1.69

1.56

 

 

 

 

 

Return on Total Assets [(PAT / Total Assets) * 100]

(%)

2.49

2.58

3.02

 

 

 

 

 

Return on Investment (ROI) [(PAT / NetWorth) * 100]

(%)

9.88

11.92

12.43

 

 

SOLVENCY RATIO

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio [Current Assets / Current Liabilities]

 

1.21

1.18

1.33

 

 

 

 

 

Quick Ratio [(Current Assets - Inventories) / Current Liabilities]

 

0.97

0.81

0.98

 

 

 

 

 

G-Score Ratio Financial [NetWorth / Total Assets]

 

0.25

0.22

0.24

 

 

 

 

 

G-Score Ratio Debt [Debts / Equity Capital]

 

3.04

2.78

3.40

 

 

 

 

 

G-Score Ratio Liquidity [Total Current Assets / Total Current Liabilities]

 

1.21

1.18

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

31.03.2015

31.03.2016

31.03.2017

 

(INR In Million)

(INR In Million)

(INR In Million)

Share Capital

46.350

47.850

47.850

Reserves & Surplus

37.425

50.398

61.173

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

83.775

98.248

109.023

 

 

 

 

Long-term borrowings

57.345

36.245

26.198

Short term borrowings

100.089

96.892

119.338

Total borrowings

157.434

133.137

145.536

Debt/Equity ratio

1.879

1.355

1.335

 

 

 

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

668.672

693.072

629.902

 

 

3.649

(9.114)

 

 

 

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

668.672

693.072

629.902

Profit/ (Loss)

10.411

11.714

10.774

 

1.56 %

1.69 %

1.71 %

 

 

 

 

 

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

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

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

No

31

External Agency Rating, if available

Yes

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

 

 

CORPORATE INFORMATION

 

The company domiciled in India and incorporated under the provisions of the companies Act, 1956. The company’s principal business is manufacturer and Supply of turnkey projects of Solvent Extraction plants, Castor Oil Plants, Edible Oil plants, Oil Refinery Plants, Vanaspati Plants, and Dairy and food Processing Plants, Chemical/Petrochemical, Pharmaceutical Plants etc. Distilleries and its all type of equipment's, Accessories, Spare parts and Components.

 

 

NOTE:

 

The registered address of the company has been shifted from “3 Amitex House, Novelty Silk Mills Compound, Dahisar (East), Mumbai-400068, Maharashtra, India to the present address w.e.f 30.05.2012.

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Loans and advances from related parties

26.198

30.377

 

 

 

Total

26.198

30.377

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

C82164872

10315336

State Bank of Bikaner and Jaipur

05/10/2011

26/02/2016

-

300000000.0

235-237,Peninsula House,Dr. D.N. RoadFortMumbaiMH400001IN

2

B26285841

10168670

Punjab National Bank

12/01/2009

-

08/11/2011

7500000.0

MCB, Brady House,Veer Nariman Road, Fort,MumbaiMH400023IN

3

B26287771

10169069

PUNJAB NATIONAL BANK

12/01/2009

23/11/2009

08/11/2011

67500000.0

MID CORPORATE BRANCH,BRADY HOUSE,V.N.ROAD, FORT,MUMBAIMH400023IN

 

 

FIXED ASSETS

  • Land
  • Building
  • Furniture and Fixture
  • Computer
  • Plant and Machinery
  • Vehicle
  • Office equipment
  • Computer Accessories
  • Computer Software

 

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 67.22

UK Pound

1

INR 90.88

Euro

1

INR 80.09

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

VRS

 

 

Report Prepared by :

MTN

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

 

 

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.