MIRA INFORM REPORT

 

 

Report No. :

509016

Report Date :

21.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ABHIMAN TRADING COMPANY PRIVATE LIMITED

 

 

Registered Office :

Flat A-13, Navarathna Apartment, 17th Cross Road, Malleshwaram, Bangalore - 560055, Karnataka

Mob. No.:

91-9008100002 (Mr. Gopal Krishna)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

17.02.1992

 

 

Com. Reg. No.:

08-012836

 

 

Capital Investment / Paid-up Capital :

INR 3.836 Million

 

 

CIN No.:

[Company Identification No.]

U85110KA1992PTC012836

 

 

GSTN :

[Goods & Service Tax Registration No.]

29AACCA4983H1ZE

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

AACCA4983H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

·         Trading and Exporter of Industrial Paints, Cable and Wire Items, etc. [Confirmed by Management]

 

·         Dealer of Paints, Insulating Varnish, Thinner, Primer, Machineries, etc. [Registered Activity]

 

 

No. of Employees :

8 (Approximately)

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1992. It is a trader and exporter of industrial paints, cable and wire items, etc.


For the financial year 2017, the company has reported dip in its revenue by 10.66% as compared to the previous year but as managed to maintain a decent profit margin of 16.92%.


The satisfactory financial profile of the company is marked by sufficient net worth base along with negligible debt balance sheet profile due to unsecured debt recorded in the books.


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


Payment seems to be usually 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

 

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 21.05.2018

 

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 PARTED BY

 

Name :

Mr. Gopal Krishna

Designation :

Manager

Contact No.:

91-9008100002

Date :

15.05.2018

 

 

LOCATIONS

 

Registered Office/ Warehouse :

Flat A-13, Navarathna Apartment, 17th Cross Road, Malleshwaram, Bangalore - 560055, Karnataka, India

Tel. No.:

Not Available

Mobile No.:

91-9008100002 (Mr. Gopal Krishna)

Fax No.:

Not Available

E-Mail :

abhimantrading@rediffmail.com

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Mohib Nomanbhai Khericha

Designation :

Director

Address :

4, Saritakunj Society, Opposite Nid Hostel, PT College Road, Paldi Ahmedabad 380007

Date of Birth/Age :

04.08.1952

Date of Appointment :

22.03.2010

DIN No.:

00010365

Other Directorship :

 

CIN/FCRN

Company Name

Begin Date

End Date

L29120GJ1990PLC014293

MAZDA LIMITED

12/09/1992

-

L31103KA1999PLC025071

TD POWER SYSTEMS LIMITED

15/03/2000

-

L45201GJ1986PLC008577

CHARTERED CAPITAL AND INVESTMENT LIMITED

21/03/1986

-

L74940MH1992PLC067864

PHOTOQUIP (INDIA) LTD

24/11/1993

-

U01111KA1972PTC002150

VIJAY FARMS PRIVATE LIMITED

24/09/1999

-

U24100GJ2013PTC075644

LABURNUM CHEMICALS PRIVATE LIMITED

18/06/2013

-

U31103KA1999PLC025872

KIRLOSKAR POWER BUILD GEARS LIMITED

08/02/2000

-

U31909KA1997PTC021648

RAVINDU MOTORS PRIVATE LIMITED

22/02/2000

-

U51100KA1987PTC008791

VIMRAJ ENTERPRISES PRIVATE LIMITED

29/09/2010

-

U51505KA2007PTC041717

DF POWER SYSTEMS PRIVATE LIMITED

07/02/2007

-

 

 

Name :

Mrs. Meena Kirloskar

Designation :

Director

Address :

No.22, 17th Cross Road, Malleswaram, Bangalore 560055, Karnataka, India

Date of Birth/Age :

26.07.1955

Date of Appointment :

13.03.1992

DIN No.:

00286774

Other Directorship :

 

CIN/FCRN

Company Name

Begin Date

End Date

L31100KA1946PLC000415

KIRLOSKAR ELECTRIC COMPANY LIMITED

24/09/2009

-

U01111KA1972PTC002150

VIJAY FARMS PRIVATE LIMITED

11/08/1980

-

U31909KA1997PTC021648

RAVINDU MOTORS PRIVATE LIMITED

06/01/2000

-

U51100KA1987PTC008791

VIMRAJ ENTERPRISES PRIVATE LIMITED

11/12/1995

-

U65910KA1989PTC010160

SRI VIJAYADURGA INVESTMENTS AND AGENCIES PRIVATE LIMITED

14/06/1989

-

U65992KA1993PTC014848

VIJAYAJYOTHI INVESTMENTSANDAGENCIES PRIVATE LIMITED

25/03/1994

-

U67120KA1990PTC011319

VIJAY KIRTI INVESTMENTS AND AGENCIES PRIVATE LIMITED

02/04/1996

-

 

 

Name :

Mrs. Janaki Kirloskar

Designation :

Director

Address :

No.22, 17th Cross Road, Malleswaram, Bangalore 560055, Karnataka, India

Date of Birth/Age :

26.06.1981

Date of Appointment :

22.12.2000

DIN No.:

00309238

Other Directorship :

 

CIN/FCRN

Company Name

Begin Date

End Date

U01111KA1972PTC002150

VIJAY FARMS PRIVATE LIMITED

24/09/1999

-

U31909KA1997PTC021648

RAVINDU MOTORS PRIVATE LIMITED

31/01/2001

-

U51100KA1987PTC008791

VIMRAJ ENTERPRISES PRIVATE LIMITED

22/12/2000

-

U65910KA1989PTC010160

SRI VIJAYADURGA INVESTMENTS AND AGENCIES PRIVATE LIMITED

22/12/2000

-

U65992KA1993PTC014848

VIJAYAJYOTHI INVESTMENTSANDAGENCIES PRIVATE LIMITED

21/12/2000

-

U67120KA1990PTC011319

VIJAY KIRTI INVESTMENTS AND AGENCIES PRIVATE LIMITED

21/12/2000

-

 

 

Name :

Mrs. Rukmini Kirloskar

Designation :

Director

Address :

No.22, 17th Cross Road, Malleswaram, Bangalore 560055, Karnataka, India

Date of Birth/Age :

19.08.1985

Date of Appointment :

30.12.2003

DIN No.:

00309266

Other Directorship :

 

CIN/FCRN

Company Name

Begin Date

End Date

U01111KA1972PTC002150

VIJAY FARMS PRIVATE LIMITED

27/12/2003

-

U31909KA1997PTC021648

RAVINDU MOTORS PRIVATE LIMITED

02/01/2004

-

U51100KA1987PTC008791

VIMRAJ ENTERPRISES PRIVATE LIMITED

30/12/2003

-

U65910KA1989PTC010160

SRI VIJAYADURGA INVESTMENTS AND AGENCIES PRIVATE LIMITED

27/12/2003

-

U65992KA1993PTC014848

VIJAYAJYOTHI INVESTMENTSANDAGENCIES PRIVATE LIMITED

29/12/2003

-

U67120KA1990PTC011319

VIJAY KIRTI INVESTMENTS AND AGENCIES PRIVATE LIMITED

29/12/2003

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Gopal Krishna

Designation :

Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2017

 

Names of Equity Shareholders

 

No. of Shares

 

Meena Kirloskar

 

40320

Janaki Kirloskar

 

20290

Rukmini Kirloskar

 

20290

Mohib Nomanbhai Khericha

 

260

 

 

 

Total

 

 

81160

 

 

Names of Preference Shareholders

 

No. of Shares

 

Meena Kirloskar

 

151209

Janaki Kirloskar

 

75604

Rukmini Kirloskar

 

75604

 

 

 

Total

 

 

302417

 

 

AS ON 25.09.2017

 

Equity Share Breakup

Percentage of Holding

Category

 

Promoters – Individual/ Hindu Undivided Family – Indian

99.68

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

0.32

 

 

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

·         Trading and Exporter of Industrial Paints, Cable and Wire Items, etc. [Confirmed by Management]

 

·         Dealer of Paints, Insulating Varnish, Thinner, Primer, Machineries, etc. [Registered Activity]

 

 

Products :

ITC Code No.

 

Product Descriptions

99612990

Other non-metallic products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Industrial Paints, Cable and Wire Items, etc.

Countries :

Malaysia

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Advance Payment, L/C and Credit (30 Days)

 

 

Purchasing :

Advance Payment, L/C and Credit (30 Days)

 

PRODUCTION STATUS (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

Customers :

End Users

 

Reference:

Not Divulged

Name of the Person (Designation):

--

Contact Number:

--

Since how long known:

--

Maximum limit dealt:

--

Experience:

--

Remark

--

 

 

No. of Employees :

8 (Approximately)

 

 

Bankers :

 

Bank Name:

Bank of India

Branch:

Malleshwaram, No. 112, 1st Floor, Margoga Road, Bangalore – 560003, Karnataka, India

Person Name (with Designation):

--

Contact Number:

91-9428914974

Name of Account Holder:

--

Account Number:

--

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

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

--

Account Operation:

--

Remarks:

Number is not working

 

 

Bank Name:

HDFC Bank Limited

Branch:

Malleshwaram, Bangalore – 560003, Karnataka, India

Person Name (with Designation):

--

Contact Number:

--

Name of Account Holder:

--

Account Number:

--

Account Since (Date/ Year of A/c Opening):

--

Average Balance Maintained (Optional):

--

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

--

Account Operation:

--

Remarks:

--

 

 

Facilities :

--

 

 

 

Auditors :

 

Name :

D J Munnolli and Associates

Chartered Accountants

Address :

Ankush Arcade, 1st Floor, No. 15 & 16, B Block, Station Road, Hubli – 580020, Karnataka, India

PAN No.:

ABWPJ3382R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Assocaites/ Joint Ventures :

Vijayjyoti Investment and Agencies Private Limited

Vijaykirti Investments and Agencies Private Limited

 

 

Related Parties :

·         Vijay Farms Private Limited

·         Kirloskar Electric Co. Limited

·         Svardann Trust

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

300000

Equity Shares

INR 10/- each

INR 3.000 Million

450000

Preference Shares

INR 10/- each

INR 4.500 Million

 

 

 

 

 

Total

 

INR 7.500 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

81160

Equity Shares

INR 10/- each

INR 0.812 Million

302417

Preference Shares

INR 10/- each

INR 3.024 Million

 

 

 

 

 

Total

 

INR 3.836 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

3.836

3.836

3.836

(b) Reserves & Surplus

56.362

55.073

53.865

(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)

60.198

58.909

57.701

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

7.745

7.745

7.745

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.300

0.200

0.275

(d) long-term provisions

3.397

3.791

2.832

Total Non-current Liabilities (3)

11.442

11.736

10.852

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

14.765

15.095

14.765

(b) Trade payables

1.798

1.767

2.019

(c) Other current liabilities

0.000

0.000

0.000

(d) Short-term provisions

1.059

0.102

1.010

Total Current Liabilities (4)

17.622

16.964

17.794

 

 

 

 

TOTAL

89.262

87.609

86.347

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.414

0.449

0.534

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

70.922

70.641

70.717

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

8.548

5.500

3.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

79.884

76.590

74.251

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.945

0.000

0.000

(c) Trade receivables

3.312

2.658

2.919

(d) Cash and cash equivalents

4.991

4.783

9.143

(e) Short-term loans and advances

0.000

3.540

0.000

(f) Other current assets

0.130

0.038

0.034

Total Current Assets

9.378

11.019

12.096

 

 

 

 

TOTAL

89.262

87.609

86.347

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

 

Revenue from Operations

7.616

8.525

9.773

 

 

Other Income

1.424

1.018

1.204

 

 

TOTAL                                     (A)

9.040

9.543

10.977

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

4.882

5.526

6.505

 

 

Employees benefits expense

0.650

0.562

0.517

 

 

Other expenses

1.615

1.398

1.554

 

 

TOTAL                                     (B)

7.147

7.486

8.576

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

1.893

2.057

2.401

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

0.011

0.081

0.081

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

1.882

1.976

2.320

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.035

0.035

0.052

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

1.847

1.941

2.268

 

 

 

 

 

Less

TAX                                                                  (H)

0.558

0.612

0.716

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

1.289

1.329

1.552

 

 

 

 

 

 

Earnings Per Share (INR)

16

16

19

 

 

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 flow from (used in) Operations

NA

NA

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

158.73

113.80

109.02

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

2.30

3.21

3.35

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

134.43

116.71

113.29

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

2.00

0.00

0.00

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

4.57

4.58

4.50

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.28

0.28

0.30

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.37

0.39

0.39

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.29

0.29

0.31

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.01

0.01

0.01

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

172.09

25.40

29.64

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

16.92

15.59

15.88

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

1.44

1.52

1.80

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

2.14

2.26

2.69

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.53

0.65

0.68

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.48

0.65

0.68

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.67

0.67

0.67

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

5.87

5.95

5.87

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.53

0.65

0.68

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

 

Particulars

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

3.836

3.836

3.836

Reserves & Surplus

53.865

55.073

56.362

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

57.701

58.909

60.198

 

 

 

 

Long-term borrowings

7.745

7.745

7.745

Short term borrowings

14.765

15.095

14.765

Total borrowings

22.510

22.840

22.510

Debt/Equity ratio

0.390

0.388

0.374

 

 

 

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

9.773

8.525

7.616

 

 

-12.770

-10.663

 

 

 

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

9.773

8.525

7.616

Profit

1.552

1.329

1.289

 

15.88%

15.59%

16.92%

 


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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2017

(INR In Million)

31.03.2016

(INR In Million)

LONG-TERM BORROWINGS

 

 

Loans and Advance from Related parties

4.650

4.650

Other loans and advances

3.095

3.095

SHORT TERM BORROWINGS

 

 

Other Parties

14.765

15.095

 

 

 

Total

 

22.510

22.840

 

 

PERFORMANCE REVIEW:

 

During the year, the company has registered revenue from operations of INR 7.616 Million as compared to previous year revenue of INR 8.525 Million. However, due to increase in the market competition and decrease in the revenue, the company has registered net profit after tax of INR 1.289 Million as compared to previous year profit of INR 1.329 Million.

 

The directors expect that the performance of the company would improve during the current financial year.

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Furniture and Fixture

·         Vehicles

·         Office Equipment

·         Computer

 

 

 

 

 

 

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

Indian Rupees

US Dollar

1

INR 67.96

UK Pound

1

INR 91.88

Euro

1

INR 80.28

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

PRY

 

 

Report Prepared by :

BVA

 

 

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

YES

--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)

 

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.