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|
MIRA INFORM REPORT
|
Report No. : |
511462 |
|
Report Date : |
28.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GILWOOD FASHIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Adj. Plot 9 and 10, Mariswamappa Layout, Dorasani Palya, Opposite IIM,
Bannerghatta Road, Bangalore – 560 076, Karnataka |
|
Tel. No.: |
91-80-41160068 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
19.08.2009 |
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Com. Reg. No.: |
08-050677 |
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Capital
Investment / Paid-up Capital : |
INR 0.101 Million |
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|
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CIN No.: [Company Identification
No.] |
U17121KA2009PTC050677 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TIN No: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AADCG5224A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The subject is carrying on the business as manufacturers, producers,
processors, designers, job workers, suppliers and dealers in all kinds of fibres,
fabrics, textile and hosiery, goods, furnishing materials manufactured from
cotton, wool, silk jute, nylon, artificial and natural yarn or fibre,
including homemade textiles. (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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 22000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2009. It is a manufacturer of ready-made garments.
|
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 28.05.2018.
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. Vijay |
|
Designation : |
Marketing Department |
|
Contact No.: |
91-8884489552 |
|
Date : |
24.05.2018 |
Management non-cooperative (Tel No.: 91-8041160068)
LOCATIONS
|
Registered Office/ Factory : |
Adj. Plot 9 and 10, Mariswamappa Layout, Dorasani Palya, Opposite IIM,
Bannerghatta Road, Bangalore – 560 076, Karnataka, India |
|
Tel. No.: |
91-80-26481587/ 26584960 |
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Fax No.: |
91-80-26584960 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory : |
Plot No. 15, Sy No. 29/2 and 291P, KIADB, Somahalli, Industrial Area, Maddur - 571429, Karnataka, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Jai Kumar Sethia |
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|
Designation : |
Director |
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Address : |
2/6, Navsheel Apartments 56, Cantt., Kanpur – 208001, Uttar Pradesh, India |
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Date of Birth/Age : |
03.05.1980 |
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Date of Appointment : |
19.08.2009 |
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DIN No.: |
00410633 |
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Other Directorship:
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Name : |
Mr. Manish Dugar |
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Designation : |
Director |
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Address : |
No.47, Duplex House, 2nd Cross 17th Main, Aicoob Nagar, BTM Layout, 1st Stage, Near Gangothri Circle, Bangalore – 560068, Karnataka, India |
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Date of Birth/Age : |
07.02.1980 |
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Date of Appointment : |
19.08.2009 |
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DIN No.: |
02737216 |
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Other Directorship:
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Name : |
Ms. Madhushree Dugar |
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Designation : |
Director |
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|
Address : |
2/6, Navsheel Apartments 56, Cantt., Kanpur – 208001, Uttar Pradesh, India |
||||||||||||||||
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Date of Appointment : |
16.12.2014 |
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DIN No.: |
07717717 |
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KEY EXECUTIVES
|
Name : |
Mr. Vijay |
|
Designation : |
Marketing Department |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Manish Dugar |
|
4950 |
|
Jai Kumar Sethia |
|
4950 |
|
Madhushree Dugar |
|
100 |
|
Gajmukh Tradelink Private Limited, India |
|
50 |
|
Subrashi Delcom Private Limited, India |
|
50 |
|
Total |
|
10100 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
99.00990099 |
|
Public/Other than promoters (Body corporate) |
0.99009901 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is carrying on the business as manufacturers, producers, processors,
designers, job workers, suppliers and dealers in all kinds of fibres,
fabrics, textile and hosiery, goods, furnishing materials manufactured from
cotton, wool, silk jute, nylon, artificial and natural yarn or fibre,
including homemade textiles. (Registered Activity) |
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Products : |
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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 : |
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 : |
Not Divulged |
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Bankers : |
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Facilities : |
LONG-TERM
BORROWINGS HDFC Bank Loan: Loan repayable in 36 monthly installments commencing from June 2016.
Last Installations due in May 2019. Rate of Interest
HDFC bank vehicle loan interest rate 9.36%. SHORT-TERM
BORROWINGS Hypothecation over stock, receivables and payables. Interest rate 13%. |
|
Auditors : |
|
|
Name : |
N. M. Arunkumar, P. S. Ananda Rao and Company Chartered Accountants |
|
Address : |
#103 Krishna, 2nd Main Vinayaka Layout, 2nd Stage, Marenahalli, Vijayanagar,
Bangalore – 560040, Karnataka, India |
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Tel. No.: |
91-80-23354485 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFN6792N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Entities over which key managerial personnel and their relatives are
able to exercise influenced : |
Greatful Apparels Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 10/- each |
INR 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10100 |
Equity Shares |
INR 10/- each |
INR 0.101
Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
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 |
0.101 |
0.101 |
0.101 |
|
(b) Reserves & Surplus |
7.593 |
6.515 |
6.378 |
|
(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) |
7.694 |
6.616 |
6.479 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
85.685 |
59.396 |
54.573 |
|
(b) Deferred tax liabilities (Net) |
0.613 |
2.038 |
2.147 |
|
(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) |
86.298 |
61.434 |
56.720 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
40.631 |
42.651 |
31.034 |
|
(b) Trade
payables |
53.305 |
34.021 |
17.383 |
|
(c) Other
current liabilities |
4.106 |
2.705 |
20.455 |
|
(d) Short-term
provisions |
5.223 |
3.600 |
4.377 |
|
Total Current
Liabilities (4) |
103.265 |
82.977 |
73.249 |
|
|
|
|
|
|
TOTAL |
197.257 |
151.027 |
136.448 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
71.117 |
56.662 |
56.891 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.259 |
1.259 |
1.299 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
72.376 |
57.921 |
58.190 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
37.692 |
34.630 |
28.665 |
|
(c) Trade
receivables |
82.546 |
38.246 |
34.119 |
|
(d) Cash
and cash equivalents |
2.183 |
3.203 |
2.153 |
|
(e)
Short-term loans and advances |
2.460 |
17.027 |
13.321 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
124.881 |
93.106 |
78.258 |
|
|
|
|
|
|
TOTAL |
197.257 |
151.027 |
136.448 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
393.265 |
307.535 |
324.757 |
|
|
Other Income |
2.703 |
1.199 |
1.139 |
|
|
TOTAL |
395.968 |
308.734 |
325.896 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
273.384 |
206.017 |
224.155 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(8.292) |
1.286 |
(2.609) |
|
|
Employees benefits
expense |
68.835 |
55.654 |
58.138 |
|
|
Other expenses |
38.038 |
26.712 |
28.967 |
|
|
TOTAL |
371.965 |
289.669 |
308.651 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
24.003 |
19.065 |
17.245 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
10.920 |
9.095 |
8.859 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
13.083 |
9.970 |
8.386 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
11.878 |
9.767 |
10.637 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.205 |
0.203 |
(2.251) |
|
|
|
|
|
|
|
Less |
TAX |
0.127 |
0.066 |
(0.197) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1.078 |
0.137 |
(2.054) |
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
6.514 |
6.377 |
8.437 |
|
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
7.593 |
6.514 |
6.377 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
9.724 |
10.862 |
0.000 |
|
|
TOTAL EARNINGS |
9.724 |
10.862 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Plant and Machinery |
0.000 |
0.305 |
0.000 |
|
|
Purchase of Raw
Materials, Consumables |
2.493 |
0.136 |
0.672 |
|
|
TOTAL IMPORTS |
2.493 |
0.441 |
0.672 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
107.00 |
14.00 |
(203.00) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long term debt |
|
|
|
|
-HDFC Bank Loan A/c |
0.000 |
0.000 |
0.593 |
|
-Standard Chartered Bill |
0.000 |
0.176 |
2.103 |
|
-HDFC Bank WCTL A/c |
0.000 |
0.000 |
5.304 |
|
-HDFC Bank LC Discounted |
0.000 |
0.000 |
9.415 |
|
Total
|
0.000 |
0.176 |
17.415 |
|
Cash generated from operations |
11.513 |
3.665 |
21.022 |
|
Net cash flow from operating activity |
11.114 |
3.128 |
19.652 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
76.61 |
45.39 |
38.35 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.76 |
8.04 |
9.52 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
71.17 |
60.27 |
28.31 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.64 |
0.55 |
0.60 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.34 |
0.34 |
0.30 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.96 |
0.94 |
1.06 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
16.42 |
15.45 |
15.90 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
13.42 |
12.54 |
11.31 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
9.24 |
8.56 |
8.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.20 |
2.10 |
1.95 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.27 |
0.04 |
(0.63) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.55 |
0.09 |
(1.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
14.01 |
2.07 |
(31.70) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.21 |
1.12 |
1.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.84 |
0.70 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.04 |
0.04 |
0.05 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1250.65 |
1012.11 |
1020.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.21 |
1.12 |
1.07 |
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 |
0.101 |
0.101 |
0.101 |
|
Reserves & Surplus |
6.378 |
6.515 |
7.593 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6.479 |
6.616 |
7.694 |
|
|
|
|
|
|
long-term borrowings |
54.573 |
59.396 |
85.685 |
|
Short term borrowings |
31.034 |
42.651 |
40.631 |
|
Current maturities of long-term
debts |
17.415 |
0.176 |
0.000 |
|
Total
borrowings |
103.022 |
102.223 |
126.316 |
|
Debt/Equity
ratio |
15.901 |
15.451 |
16.417 |
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 |
324.757 |
307.535 |
393.265 |
|
|
|
(5.303) |
27.877 |
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 |
324.757 |
307.535 |
393.265 |
|
Profit /(Loss) |
-2.054 |
0.137 |
1.078 |
|
|
-0.63% |
0.04% |
0.27% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
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 |
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 |
CORPORATE
INFORMATION
The company is a private limited company registered in India and
incorporated under the provision of Companies Act, 1956 is engaged in Textile
Weaving Services.
STATE OF COMPANY’S
AFFAIRS AND FUTURE OUTLOOK
The company is in the business of textile manufacturing. The company is
carrying on the business as manufacturers, producers, processors, designers,
job workers, suppliers and dealers in all kinds of fibres, fabrics, textile and
hosiery, goods, furnishing materials manufactured from cotton, wool, silk jute,
nylon, artificial and natural yarn or fibre, including homemade textiles.
During the year, the company has made a turnover of INR 393.265 Million
as compared to INR 307.535 Million in the previous year. During the year
company has incurred a profit of INR 1.078 Million as compared to profit of INR
0.137 Million in the previous year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From Shareholders and Directors |
81.187 |
59.396 |
|
Short-term
borrowings |
|
|
|
HDFC Bank (Credit Car) |
0.170 |
0.000 |
|
HDFC Bank (Current Account) |
0.000 |
1.172 |
|
State Bank of Mysore |
0.000 |
0.224 |
|
Total |
81.357 |
60.792 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G79203196 |
10473954 |
HDFC BANK LIMITED |
23/01/2014 |
28/12/2017 |
- |
80000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
2 |
B96655410 |
10418817 |
ING VYSYA BANK LIMITED |
14/03/2013 |
- |
14/02/2014 |
5000000.0 |
VET SCHOOL and POLYTECHNIC,NO.18,14TH MAIN,13TH CROSS,J.P.NAGAR II PHASE,BANGALOREKA560078IN |
FIXED ASSETS
- Building
- Computers
- Furniture and Fixtures
- Electrical Fittings
- Office Equipment
- Plant and Machinery
- Vehicle
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 68.26 |
|
|
1 |
INR 91.23 |
|
Euro |
1 |
INR 79.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPY |
|
|
|
|
Analysis Done by
: |
PYK |
|
|
|
|
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 |
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.