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|
MIRA INFORM REPORT
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Report No. : |
507446 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
EVERGREEN ELECTRIC AND HARDWARE TRADERS |
|
|
|
|
Registered
Office : |
Mandir Kamali Road, Ghora Nikkas 5, Zone – I, Ghora Nakkas Road, M P
Nagar, Citi Bank Lane, Bhopal – 462001, Madhya Pradesh |
|
Tel. No.: |
91-755-2532906 / 4700200 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Year of Establishment: |
2002 |
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Capital
Investment / Paid-up Capital : |
INR 27.189 Million |
|
|
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TIN No.: |
Not Available |
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|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
23AAAFE3197N1Z9 |
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PAN No.: [Permanent Account No.] |
AAAFE3197N |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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|
Line of Business
: |
Dealer of
all kinds of Switches, Wires, Cables, Fans, Geysers, PVC Fittings Pipe and
Electrical Hardware Material. [Confirmed by management] |
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|
|
|
No. of Employees
: |
4+ (Approximately) (At Site) |
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 77000 [In INR 5237925] |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Mr. Bharat Nandwani (Designation Not Divulged) has denied to provide any information about the subject to us.
Site visit was conducted at the address which you have
provided. Our executive has successfully traced the subject on the given
address.
As per our executive’s observation, it is a 2 storey building and subject is situated on ground floor. Locality seems to be commercial and area seems to be upmarket. Area of the office is approximately 400 sq. ft. and more than 4 employees were sighted at the premises. Location was easy to find. Name board of the subject was also sighted at the given address. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 18.05.2018.
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. Bharat Nandwani |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9893199079 |
|
Date : |
17.05.2018 |
Management Non-Cooperative (Tel. No.: 91-755-2532906)
LOCATIONS
|
Registered Office : |
Mandir Kamali Road, Ghora Nikkas 5, Zone – I, Ghora Nakkas Road, M P
Nagar, Citi Bank Lane, Bhopal – 462001, Madhya Pradesh, India |
|
Tel. No.: |
91-755-2532906 / 4700200 |
|
Mobile No.: |
91-9893199079 [Mr. Bharat Nandwani] |
|
Fax No.: |
Not Available |
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Area : |
400 Sq. ft. [At Site] |
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Locality : |
Commercial [At Site] |
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E-Mail : |
PARTNERS
|
Name : |
Mrs. Sheetal Dandwani |
|
Designation : |
Partner |
Note: Other Partner’s Name Not Divulged.
BUSINESS DETAILS
|
Line of Business : |
Dealer of
all kinds of Switches, Wires, Cables, Fans, Geysers, PVC Fittings Pipe and Electrical
Hardware Material. [Confirmed by management] |
|
|
|
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Products : |
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|
|
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Brand Names : |
Not Divulged |
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Agencies Held : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
4+ (Approximately) (At Site) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Multi Associates Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern: |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2017
|
Capital Investment : |
|
|
Owned : |
INR 27.189 Million |
|
Borrowed : |
-- |
|
Total : |
INR 27.189
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
|
27.189 |
|
|
2] Share Application Money |
|
|
0.000 |
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|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
27.189 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
8.638 |
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2] Unsecured Loans |
|
|
28.050 |
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TOTAL BORROWING |
|
|
36.688 |
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|
DEFERRED TAX LIABILITIES |
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|
0.000 |
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|
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TOTAL |
|
|
63.877 |
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APPLICATION OF FUNDS |
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|
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|
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FIXED ASSETS [Net Block] |
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|
2.505 |
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Capital work-in-progress |
|
|
0.000 |
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|
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INVESTMENT |
|
|
0.000 |
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DEFERREX TAX ASSETS |
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|
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
|
|
53.731
|
|
|
Sundry Debtors |
|
|
31.145
|
|
|
Cash & Bank Balances |
|
|
0.417
|
|
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Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances, Deposits |
|
|
0.698
|
|
Total
Current Assets |
|
|
85.991
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
|
|
20.136
|
|
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Other Current Liabilities |
|
|
4.483
|
|
|
Provisions |
|
|
0.000
|
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Total
Current Liabilities |
|
|
24.619
|
|
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Net Current Assets |
|
|
61.372
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
|
63.877 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2017 |
|
|
SALES |
|
|
|
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|
Income |
|
|
119.136 |
|
|
Other Income |
|
|
6.128 |
|
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TOTAL |
|
|
125.264 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
|
107.696 |
|
|
Entry Tax |
|
|
0.151 |
|
|
Vat After Assessment |
|
|
0.000 |
|
|
Entry Tax Assessment |
|
|
0.000 |
|
|
Carriage inward local |
|
|
0.050 |
|
|
Carriage inward out of
M.P. |
|
|
0.037 |
|
|
VAT Tax |
|
|
1.821 |
|
|
Staff Emoluments |
|
|
2.204 |
|
|
Sales and Administrative
Expenses |
|
|
0.708 |
|
|
Rent |
|
|
0.756 |
|
|
Cash Discount Paid |
|
|
0.005 |
|
|
Audit fees with Service
Tax |
|
|
0.017 |
|
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Professional Tax |
|
|
0.003 |
|
|
Interset to Partners |
|
|
2.342 |
|
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Remuneration to Partners |
|
|
2.980 |
|
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Income Tax for the year |
|
|
0.631 |
|
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TOTAL |
|
|
119.401 |
|
|
|
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PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
|
5.863 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
|
4.172 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
|
1.691 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
|
0.419 |
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
1.272 |
The above information has been denied by Mr. Bharat Nandwani.
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
|
95.42 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
|
3.83 |
|
|
|
|
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Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
|
68.24 |
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|
|
|
|
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Inventory Turnover (Operating Income
/ Inventories) |
|
|
0.11 |
|
|
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|
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Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
|
2.34 |
LEVERAGE RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
|
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
|
1.35 |
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Current Liabilities to Networth (Current
Liabilities / Net Worth) |
|
|
1.94 |
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Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
|
0.09 |
|
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|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
|
1.41 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
|
31.03.2017 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
|
|
1.07 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
|
|
1.44 |
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|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
|
|
4.68 |
SOLVENCY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
|
1.63 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
|
0.61 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
|
0.31 |
|
|
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|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
|
1.35 |
|
|
|
|
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|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
|
1.63 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
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 – Legal Form |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details no |
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 |
No |
|
26 |
Turnover of firm for last one year |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last one year |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Unsecured Loan |
|
31.03.2017 (INR
in Million) |
|
Unsecured loan |
|
28.050 |
|
|
|
|
|
Total |
|
28.050 |
OBSERVATION FORM
|
COMPANY NAME: EVERGREEN ELECTRIC
AND HARDWARE TRADERS ADDRESS: Mandir Kamali
Road, Ghora Nikkas 5, Zone – I, Ghora Nakkas Road, M P Nagar, Citi Bank Lane,
Bhopal – 462001, Madhya Pradesh, India CONTACT NO.: 91-755-4700200 PERSON TO WHOM
WE MET: Employee (Name Not Divulged)
o
Telephone o
Computer o
Office Equipment
Name of company: Gayatri Enterprises Contact Person Name: Name Not Divulged Neighbour’s Overview: Subject company
exist on given address. Name of company: Connective AD Contact Person Name: Name Not Divulged Neighbour’s Overview: Subject company
exist on given address.
|
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 67.83 |
|
|
1 |
INR 91.68 |
|
Euro |
1 |
INR 80.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
JYO |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.