|
|
|
MIRA INFORM REPORT
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Report No. : |
511392 |
|
Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE LIFESTYLE HOLDINGS LIMITED
(w.e.f. 01.02.2008) |
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|
|
|
Formerly Known
As : |
RELIANCE LIFESTYLE HOLDINGS PRIVATE LIMITED (w.e.f. 01.11.2007) BLUEBAND AGRO PRIVATE LIMITED |
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Registered
Office : |
5th Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002, Maharashtra |
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Tel. No.: |
91-22-40613561 |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
16.07.2007 |
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Com. Reg. No.: |
11-172415 |
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Capital
Investment / Paid-up Capital : |
INR 0.500 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U01403MH2007PLC172415 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AADCB1864F |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Subject is mainly engaged in ‘Organised Retail’ primarily catering to Indian consumers in various consumptions baskets. (Registered activity) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 1870000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Reliance Brands Limited” which is a step down subsidiary of “Reliance Retail Ventures Limited” which ultimately belongs to Reliance Industries Limited (RIL). Further, Reliance Industries Limited (RIL) is one of the India’s largest private sector companies, with diversified interest including petrochemicals, retail, oil refining, telecom and upstream oil and gas exploration and production. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year along and has shown good improvement in its profitability margin. Rating takes into account, the healthy financial risk profile marked by strong capital base and average debt protection metrics. Rating continues to derive strength from the parent of being a part of the “Reliance Group” and the group’s focus on sector along with the support extended to the company and the long standing experience of key managerial and strong financial support from its holding entity. Trade relations are reported to be fair, business is active. Payments seems to be regular. In view of aforesaid and being a part of “RIL”, 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 |
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 29.05.2018
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
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-22-40613000)
91-22-40613200 (NUMBER DOES NOT EXIST)
LOCATIONS
|
Registered Office : |
5th Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-40613561 / 40613200 |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rajkumar Narayandas Pugalia |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Address : |
Flat No. 1201, Building No. 45, Seawood Nri Complex Palm
Beach Road, Nerul Navi Mumbai – 400706, Maharashtra, India |
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Date of Birth/Age : |
15.03.1961 |
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Qualification : |
CA CS |
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Date of Appointment : |
28.11.2014 |
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DIN No.: |
00047360 |
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Other Directorship:
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Name : |
Mr. Mayank Jayantilal Shah |
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Designation : |
Director |
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Address : |
B / 605, Raj Residency - I, Mahavir Nagar Dhanukarwadi,
Kadivali (West), Mumbai – 400067, Maharashtra, India |
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Date of Birth/Age : |
06.05.1960 |
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Qualification : |
CA |
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Date of Appointment : |
30.03.2015 |
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PAN No.: |
AAEPS7845M |
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DIN No.: |
00076380 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Darshan Rasiklal Mehta |
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Designation : |
Director |
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Address : |
32, Mayflower Carmichael Road, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
31.07.1961 |
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Qualification : |
CA CWA |
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Date of Appointment : |
24.03.2012 |
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DIN No.: |
00103155 |
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Other Directorship:
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Name : |
Mr. Samirbhai Rameshbhai Sheth |
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Designation : |
Director |
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Address : |
16, Kadamb Banglows, Vastrapur, Ahmedabad – 380015,
Gujarat, India |
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Date of Birth/Age : |
21.04.1957 |
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Qualification : |
B COM |
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Date of Appointment : |
30.03.2015 |
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PAN No.: |
AFLPS8053F |
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DIN No.: |
01285752 |
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Other Directorship:
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Name : |
Mr. Venkatesh Raghavendra Gulur |
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Designation : |
Director |
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Address : |
Flat B-401 Technopark 2, Thakur Village, Kandivali East,
Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
17.01.1971 |
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Qualification : |
BE MBA |
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Date of Appointment : |
30.03.2015 |
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DIN No.: |
02813390 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders (Promoters) |
|
No. of Shares |
|
|
|
|
|
Reliance Brands Limited |
|
49994 |
|
Sundhakar Saraswatula jointly with Reliance Brands Limited |
|
1 |
|
Madhavan Ganesan jointly with Reliance Brands Limited |
|
1 |
|
A Ramaswamy jointly with Reliance Brands Limited |
|
1 |
|
Rohit Shah jointly with Reliance Brands Limited |
|
1 |
|
Rajendra Madhav Kamath jointly with Reliance Brands Limited |
|
1 |
|
Sriidhar Kothandaraman jointly with Reliance Brands Limited |
|
1 |
|
|
|
|
|
Total |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
99.99 |
|
Public – Other than promoters – Others |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is mainly engaged in ‘Organised Retail’ primarily catering to Indian consumers in various consumptions baskets. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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|
||||||||||
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Imports : |
Not Divulged |
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|
||||||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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|
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers, Nariman Point, Mumbai-400021, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFC0662N |
|
|
|
|
Secretarial Audit
Report : |
|
|
Name : |
BNP and Associates |
|
Address : |
DBS Heritage, Prescott Road, Ghanshyam Talwatkar Marg, Near the Cathedral and John Connon School and IDBI Bank, Fort, Mumbai – 400001, Maharashtra, India |
|
Membership number.: |
1303 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Companies : |
U51900MH2007PLC174470
U51909MH2006PLC166166 |
|
|
|
|
Ultimate Holding Companies : |
L17110MH1973PLC019786 |
|
|
|
|
Fellow Subsidiaries Company : |
U01100MH1999PLC120563
U74999MH2007PLC167704
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500 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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
653.615 |
608.064 |
(194.416) |
|
(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) |
654.115 |
608.564 |
(193.916) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
418.614 |
143.087 |
917.188 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
6.146 |
3.657 |
2.696 |
|
Total
Non-current Liabilities (3) |
424.760 |
146.744 |
919.884 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
306.525 |
201.789 |
110.858 |
|
(c) Other current liabilities |
92.790 |
58.703 |
44.512 |
|
(d) Short-term provisions |
0.175 |
0.114 |
0.424 |
|
Total
Current Liabilities (4) |
399.490 |
260.606 |
155.794 |
|
|
|
|
|
|
TOTAL |
1478.365 |
1015.914 |
881.762 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
556.927 |
423.261 |
445.154 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
24.039 |
|
(iii) Capital work-in-progress |
60.285 |
33.801 |
14.800 |
|
(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 |
0.000 |
0.000 |
118.388 |
|
(e) Other Non-current assets |
29.908 |
32.173 |
0.000 |
|
Total
Non-Current Assets |
647.120 |
489.235 |
602.381 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
503.449 |
332.325 |
238.929 |
|
(c) Trade receivables |
15.932 |
8.969 |
7.235 |
|
(d) Cash and cash equivalents |
19.734 |
9.679 |
7.064 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
26.153 |
|
(f) Other current assets |
292.130 |
175.706 |
0.000 |
|
Total
Current Assets |
831.245 |
526.679 |
279.381 |
|
|
|
|
|
|
TOTAL |
1478.365 |
1015.914 |
881.762 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2293.794 |
1573.097 |
1245.984 |
|
|
Other Income |
0.424 |
0.086 |
0.031 |
|
|
TOTAL
|
2294.218 |
1573.183 |
1246.015 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
1308.786 |
909.025 |
658.773 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(162.429) |
(90.534) |
(11.557) |
|
|
Employees benefits expense |
168.618 |
114.721 |
81.301 |
|
|
Other expenses |
840.627 |
631.990 |
461.191 |
|
|
TOTAL |
2155.602 |
1565.202 |
1189.708 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
138.616 |
7.981 |
56.307 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.773 |
7.155 |
2.937 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
116.843 |
0.826 |
53.370 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
71.203 |
58.453 |
55.475 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
45.640 |
(57.627) |
(2.105) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
45.640 |
(57.627) |
(2.105) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
220.109 |
94.634 |
|
|
Components and Stores parts |
NA |
9.116 |
1.569 |
|
|
TOTAL
IMPORTS |
NA |
229.225 |
96.203 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
912.8 |
(1152.54) |
(42.10) |
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 |
(36.072) |
(15.580) |
26.769 |
|
Net cash flows from (used in) operating activities |
(35.704) |
(15.173) |
22.650 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
2.54 |
2.08 |
2.12 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
143.97 |
175.39 |
172.22 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
85.49 |
81.02 |
61.42 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.28 |
0.02 |
0.24 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.22 |
0.02 |
0.12 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.55 |
0.40 |
1.22 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.64 |
0.24 |
-4.73 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.61 |
0.43 |
-0.80 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.94 |
0.75 |
-2.50 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
6.37 |
1.12 |
19.17 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
1.99 |
(3.66) |
(0.17) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.09 |
(5.67) |
(0.24) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.98 |
(9.47) |
1.09 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.08 |
2.02 |
1.79 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.82 |
0.75 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.44 |
0.60 |
-0.22 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
837.23 |
286.17 |
1834.38 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.08 |
2.02 |
1.79 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
(194.416) |
608.064 |
653.615 |
|
Net
worth |
(193.916) |
608.564 |
654.115 |
|
|
|
|
|
|
Long Term borrowings |
917.188 |
143.087 |
418.614 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
917.188 |
143.087 |
418.614 |
|
Debt/Equity
ratio |
(4.730) |
0.235 |
0.640 |
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
|
1245.984 |
1573.097 |
2293.794 |
|
|
|
26.253 |
45.814 |
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
|
1245.984 |
1573.097 |
2293.794 |
|
Profit
/ (Loss) |
(2.105) |
(57.627) |
45.640 |
|
|
(0.17%) |
(3.66%) |
1.99% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF COMPANY’S
AFFAIRS
During the year the Company opened 16 new Hamley’s stores adding the total count to 33 stores across India. During the year the Company also started with the Toy Distribution business and partnered with large e-commerce partner like Amazon on market place business model, which helped in overall growth of the Company’s business.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
418.614 |
143.087 |
|
|
|
|
|
Total |
418.614 |
143.087 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B35773811 |
10154379 |
HDFC BANK LIMITED |
30/03/2009 |
- |
01/03/2012 |
10000000.0 |
HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
58.750 |
10.868 |
|
|
|
|
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Leasehold improvements
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 68.09 |
|
|
1 |
INR 91.41 |
|
Euro |
1 |
INR 79.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.