MIRA
INFORM REPORT
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Report Date : |
16th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
MAHARANI
PAINTS INDIA PRIVATE LIMITED |
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Registered Office : |
TA-3/146-C, Tughlakabad Extension, New
Delhi-110019, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
07.01.1986 |
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Com. Reg. No.: |
55-023000 |
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CIN No.: [Company
Identification No.] |
U74899DL1986PTC023000 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM08298D |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer
of Marlac and Mahacoat. |
RATING & COMMENTS
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MIRAs Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong) capability
for payment of interest and principal sums |
Large |
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Maximum Credit Limit : |
USD
375000 |
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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 well-established company having fine track. Financial Positions is good.
Payments are usually correct and as per commitments. The company is doing
well. The
company can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
TA-3/146-C, Tughlakabad Extension, New
Delhi-110019, India |
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Tel. No.: |
91-11-25054009/10/26092741 |
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Fax No.: |
91-11-25054008 / 26092413 |
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E-Mail : |
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Website : |
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Location: |
Leased |
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Factory
: |
Plot No. 343, 344, 349, Sector 24, Faridabad-121005, Haryana, India |
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Tel.
No.: |
91-129-25021128 / 29 |
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Fax
No.: |
91-129-25023130 |
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Branches
: |
ุ
-82, Sector 27 Noida, Uttar Pradesh, India Tel No :-
91-120-2548009 ุ
172, Avas Vikas Colony, Civil Lines, Muradabad, Uttar Pradesh, India Tel No :- 91-591-2417096 ุ
Shop No. 1, 2 and 4, B-XVI, 1931, Gali No. 3, Preet Nagar, Sewakrupa, M. G. Ludhiana, Punjab, India Tel No :-
91-161-2539292 / 2541947 ุ
129, Industrial Area, Phase-II, Chandigarh, India Tel No :-
91-172-3134932 ุ
Arihant Industrial Estate, Gala No. 21, Ground Floor, Plot No. 94-C
and 94-D, Kranti Nagar, Saki Naka,
Andheri (East), Mumbai-400072, Maharashtra,
India Tel No :-
91-22-28595246 / 28595247 ุ
65, New Timber Yard Layout, Mysore Road, Bangalore-560026, Karnataka, India Tel No :-
91-80-26756971 ุ
Shop No. 2 and 3, Gate No. 627, Kuruli, Rajguru Nagar, Khed, Pune, Maharashtra, India Tel No :- 91-20-9822845492 |
DIRECTORS
|
Name : |
Mr.
Bhatia Raj Baldev |
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Designation : |
Director |
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Address : |
House
No. 1319, Sector 15, Faridabad 121 007, Haryana, India. |
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Date of Birth/Age : |
50 years |
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Qualification : |
Graduate |
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Experience : |
27 years |
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Date of Appointment : |
07.01.1986 |
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Name : |
Mr.
Bhatia Mukesh |
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Designation : |
Director |
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Address : |
House
No. 1045, Sector 15, Faridabad 121 007, Haryana, India. |
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Date of Birth/Age : |
37 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
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Date of Appointment : |
07.01.1986 |
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Name : |
Mr.
Bhatia Kumar Raj |
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Designation : |
Director |
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Address : |
House
No. 1043, Sector 15, Faridabad 121 007, Haryana, India. |
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Date of Birth/Age : |
46 years |
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Qualification : |
Graduate |
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Experience : |
24 years |
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Date of Appointment : |
01.01.1995 |
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Name : |
Mr.
Bhatia Kumar Vipin |
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Designation : |
Director |
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Address : |
House
No. 1254, Sector 15, Faridabad 121 007, Haryana, India. |
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Date of Birth/Age : |
42 years |
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Qualification : |
Graduate |
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Experience : |
27 years |
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Date of Appointment : |
01.04.1995 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
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Bhatia
Raj Baldev |
24160 |
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Bhatia
Kumar Raj |
16060 |
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Bhatia
Kumar Vipin |
7860 |
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Bhatia
Mukesh |
17120 |
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C. D.
Bhatia |
13110 |
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Rama
Bhatia |
1450 |
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Manju
Bhatia |
11350 |
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Reeta
Bhatia |
6700 |
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Neelam
Bhatia |
2100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Marlac and Mahacoat. |
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Exports to : |
China
and Australia. |
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Imports from : |
Taiwan,
Japan, Switzerland, HongKong, Thailand and China. |
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Terms : |
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Selling : |
Credit
(60 days) |
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Purchasing : |
Credit
(60 days) |
PRODUCTION
STATUS
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Particulars |
Installed Capacity |
Actual Production |
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Epoxide
Resins (Powder Coating Paints) |
250 Tons per month |
120 Tons per month |
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Industrial
Paints Lacquers and Allied Products |
400 Tons per month |
100 Tons per month |
GENERAL
INFORMATION
|
Suppliers : |
ุ
Atul
Limited, New Delhi ุ
Aman
Overseas, Faridabad ุ
Resins
and Plastics Limited, Mumbai ุ
Best
Dye Chem, New Delhi ุ
Cray
Valley Resins, New Delhi ุ
DSV
Chemicals Private Limited, Mumbai ุ
Dadar
Sales Corporation, Faridabad ุ
Synthetics
and Polymer Industries, Ahmedabad ุ
DSM
Sales Corporation, Mumbai ุ
Macro
Polymers Private Limited, Ahmedabad ุ
Victor
Agencies, Faridabad ุ
Prime
Surface Coatings, Thane ุ
Dow
Corning India Private Limited, Mumbai ุ
Rishichem
Distributors Private Limited, Mumbai ุ
G.
E. Bayer Silicones India Private Limited, Mumbai ุ
Aerotech
India Private Limited, New Delhi ุ
Abbott
Air System ุ
Anshul
Agencies ุ
Associated
Container Teminals Limited ุ
Bhemla
Engineering Works ุ
Bullows
Paint Equipment (Private) Limited ุ
Bureau
Veritas Consumer Products ุ
Chemi
Enterprise ุ
Dujodwala
Resins & Terpenses Limited ุ
Goldschmidt
Chemicla Jkarta ุ
Gupta
Enterprise ุ
Hindustan
Apparatus Manufacturing Company ุ
IOCL ุ
Indian
Container Leasing Company Limited ุ
Lo
Temp Engineering ุ
Mobile
Centre ุ
National
Chemicals & Colours Company ุ
New
Tola ram & Sons ุ
Prachi
Enterprises ุ
Rieco
Industrial Limited ุ
Satguru
Electricals Works ุ
Shreyans
Marketing Company ุ
Tarapur
Coating (Private) Limited ุ
Trichem
Laboratories Private Limited ุ
Vishwakarma
Enterprises |
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Customers : |
ุ
Bharti
Industries Limited, Faridabad ุ
Faridabad
Fabricators Private Limited, Faridabad ุ
Havells
India Limited, Faridabad ุ
Hindustan
Wires Limited, Faridabad ุ
Nikko
Auto Limited, Faridabad ุ
Vee
Gee Industrial Enterprises, Faridabad ุ
Bajaj
Motors Limited, Gurgaon ุ
Omax
Autos Limited (Manesar) , Gurgaon ุ
Prasha
Technologies Limited, Gurgaon ุ
Rico
Auto Industries Limited, Gurgaon ุ
Q
H Talbros Limited, Gurgaon ุ
S
and R Exports, Gurgaon ุ
Sunbeam
Auto Limited, Gurgaon ุ
X.
O. Stamping Limited, Gurgaon ุ
Curio
Craft, Jodhpur ุ
I.
T. I Limited, Naini ุ
Mahavir
Aluminium Limited, Bhiwadi ุ
Eveready
Industries India Limited, Lucknow ุ
A
to Z Exports, Noida ุ
Alps
Industries Limited, Noida ุ
Caryaire
Equipments India Private Limited, Noida ุ
Fedders
Llyod Corporation Limited, Noida |
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No. of Employees : |
250 |
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Bankers : |
ุ
State
Bank of Travancore, NIT Faridabad, SIB Branch (Subject
enjoys Cash Credit facility of Rs. 41 millions from its bankers) ุ
State
Bank of Patiala, Faridabad ุ
State
Bank of Patiala, Mumbai ุ
State
Bank of India, Faridabad ุ
State
Bank of India, jalandhar ุ
State
Bank of India, Ludhaina ุ
State
Bank of India, Banjalore ุ
Bank
of India (Under Closure) ุ
State
Bank of India, Jalandhar , Punjab (Subject
enjoys term loan of Rs. 1.237 millions and Overdraft Facility and ash Credit
facility of Rs. 11 millions with State Bank of India, Faridabad) ุ
HSBC
Bank ุ
Kotak
Mahindra Primus Limited ุ
ABN
Amro Bank ุ
Standared
Charted Bank ุ
ICICI
Bank Limited ุ
HDFC
Bank |
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Facilities : |
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Banking Relations : |
Good |
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Auditors : |
T. R.
Arya and Associates |
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Qualification: |
Chartered
Accountant |
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Address: |
11,
Darya Ganj, New Delhi 110 002, India |
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Tel.
No.: |
91-23261427
/ 23266877 |
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Associates/Subsidiaries : |
ุ
C
Dass Chemicals Private Limited, Plot No. 287-288, Sector 24, Faridabad -- Manufacturer of
Thinners ุ
Vamaru
Overseas Private Limited, Plot No. 138/24, Faridabad -- Manufacturer of Wooden Furniture,
Wrought Iron, Handicraft, Articles |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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10.000 |
9.925 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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86.497 |
52.900 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
96.497 |
62.825 |
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LOAN FUNDS |
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1] Secured Loans |
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72.200 |
45.558 |
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2] Unsecured Loans |
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4.750 |
4.815 |
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TOTAL BORROWING |
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76.950 |
50.373 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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173.447 |
113.198 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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38.593 |
25.924 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
|
0.000 |
0.000 |
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Other Current Assets |
|
198.320 |
125.854 |
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Loans & Advances |
|
24.724 |
12.272 |
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Total Current Assets |
|
223.044 |
138.126 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
68.690 |
34.352 |
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Provisions |
|
19.500 |
16.500 |
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Total Current Liabilities |
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88.190 |
50.852 |
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Net Current Assets |
|
134.854 |
87.274 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
173.447 |
113.198 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
523.234 |
352.388 |
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Profit/(Loss)
Before Tax |
|
55.724 |
47.151 |
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Provision
for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss)
After Tax |
|
55.724 |
47.151 |
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Total
Expenditure |
|
467.509 |
305.236 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
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10.65 |
13.38 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
10.65 |
13.38 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
21.30 |
28.74 |
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Return
on Investment (ROI) (PBT/Networth) |
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|
0.58 |
0.75 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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|
1.71 |
1.61 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
2.53 |
2.72 |
LOCAL AGENCY
FURTHER INFORMATION
Its
product range includes
ุ
Polyurethane
Paints- A special high performance coating
ุ
Epoxy
Paints- A touch coating for mainly Chemical, Corrossion and abrasion resistance
ุ
Heat
Resistance Paints Heat resistance upto 3000 C
available in Black and Grey Shades
ุ
Acrylic
Paints
ุ
Thinner/Diluents
ุ
Powder
Paints
profile
Subject
is a manufacturer of coating materials of international quality standards with
prime concern and commitment to quality and customer service. It is a
professionally managed fast growing organization with an enviable track record
of growth, profitability and
productivity.
Subject
started its operations in the year 1980 under the name of C Dass Chemicals
Private Limited and over the years earned recognition as a manufacturer of
Quality Thinners for different paints namely Epoxy, Polyurethane, Stoving, Auto
Refinishing etc. and the only ISO 9002 certified Thinner manufacturer in the
country.
Subject
was incorporated in the year 1986 under expansion programme to manufacture
Industrial Paints and Powder Paints of International Quality for Industrial
Applications. Ever since its incorporation the company has been providing its
customers, the best quality products and services with a reasonable pricing
policy.
The
company has grown manyfold by enhancing production capacity, modernisation,
expansion of network, etc. and obtained the recognition as a quality product
manufacturer. In April, 1997, the company got ISO 9002 accreditation from DET
NORSKE VERITAS, The Netherlands.
Financial
Operators:
The Directors express satisfaction that
during the year the company has increased its Turnover from Rs. 337.848
Millions to about Rs. 488.841 Millions. The company generated net profit Before
Tax for the year to the tune of Rs. 55.724 Millions (Last year Rs. 47.151
Millions)
Business
Outlook:
The
company is growing at a robust sales growth rate of 40 50%p.a. The company
today has a Pan Indian Footprint in form of Branches / Own Representative at
Eleven cities ij India, Including New Delhi, Mumbai , Moida, Moradabad,
Chandigarh, Ludhina, Amritsar, Jaliandhar, Pune, Bangalore, Malerkotla apart
from the faridabad Gurgaon Dharudhera belt, directly billed from the Factories
in Faridabad.
New
Customers are being developed and the company has embarked on an ambitious
target of a sales Turnover Rs. 1000.000 Millions in the Financial Year 2006
07.
The
international prices of all Petro Chemical Products has been on a high
fluctuating note during the whole of the last year. This posed great challenges
to the company, since most of the company,s requirements of raw materials is
based on the petro products. The Directors have begun too secure direct
supplies from the various international Petrochemical Houses to bring a degree
of stability and reduction in intermediary margins from such direct supply.
Dun
& Bradstreet Credit Rating:
Their company has been awarded the highest
possible Credit rating in India, for the S.M.E. sector 1A by the Dun &
Bradstreet, the international credit rating house. With this the company plans
to secure the funds with the more competitive interest rates. The directors are
expect that this should help in further improving that the bottomline.
Dividend
for the Year:
The
Directors recommended dividend @ 18 % for the year & to pay dividend tax
thereon. The dividend if approved, will be paid with in the prescribed period.
This is the maiden Dividend for the company, and a matter of grat pleasure for
us to propose the same before the shareholders.
|
Name of the company |
MAHARANI
PAINTS INDIA PRIVATE LIMITED |
|
Presented By |
Bank of India, 65, Prita Road, Faridabad, Haryana |
|
1) Date and description of instrument creating the change |
General Agreement of hypothecation of goods & debts for increase in the overall limit dated 04.10.1999 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Limit : Rs. 19.800 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of Immovable Properties, Plant & Machinery, Stock in trade, Book Debts etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest @ 2.25% SBAR minimum rate @14.25% + Interest rate. Present effective Rate is 14.53% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of India, 65, Prita Road, Faridabad, Haryana |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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Name of the company |
MAHARANI
PAINTS INDIA PRIVATE LIMITED |
|
Presented By |
Bank of India, 65, Prita Road, Faridabad, Haryana |
|
1) Date and description of instrument creating the change |
Supplemental Agreement of loan for increase in the overall limit, Supplemental Agreement of Hypothecation of goods & Assets for increase in the overall limit Dated 13.03.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Limit enhanced from Rs. 140.000 Millions to Rs.270.000 Millions Satnd by Line of Credit Rs. 10.000 Millions . Letter of Credit Rs. 120.000 Millions, Margin 25%, SLPFG 30%, BD 40%, L/C 20% |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of Immovable Properties, Plant & Machinery, Stock in trade, Book Debts etc. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest on Working Capital 1.50% below SBAR i.e. 8.75% p.a. and Corporate Loan 9.25% i.e. below 1% SBAR |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of India, 65, Prita Road, Faridabad, Haryana |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
Name of the company |
MAHARANI
PAINTS INDIA PRIVATE LIMITED |
|
Presented By |
Mr. Baldev Raj Bhatia, Director |
|
1) Date and description of instrument creating the change |
General Agreement Dated 4.10.199 registerd on 29.10.1999 for Rs. 19.800 Millions which enhanced to Rs. 25.500 Millions dated 20.04.2001 registered on 02.05.2001 which further enhanced to Rs. 28.000 Millions dated 18.09.2001registered on 25.09.2001 further enhanced to Rs. 34.500 Millions dated 26.11.2002registered on 23.12.2002 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 19.800 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of all goods, movable, Plant & Machinery, Stock in trade, Book Debts & other assets to the borrower equitable mortgage of land and building at plot no. 349 sec. 24, Faridabad studding in the nature of company. Personal guarantee of all the directors. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest @ 2.25% Over SBAR minimum rate @14.25% + Interest Tax. Present effective Rate is 14.53% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India, 65, Prita Road, Faridabad, Haryana |
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6) Date and brief description of instrument modifying the charge |
Dated 14.10.2003 Supplemental general agreement for the grant of small industries advances & hypothecation of all goods, movable & other assets. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Present limit enhanced to Rs. 38.500 Millions , Book Debts 15.000 Millions, DDchques Rs. 1.000 Millions, SME Credit Plus Rs. 2.500 Millions, Letter of Credit Rs. 5.000 Millions, Extension of charge on stocks of raw material , stock in process, finished goods, receivables etc. each table mortgage of land & building at 349/24 finished goods 1288.88 sq. yds. Owned by the company charge over current fixed assets of the company . further interest rate @1.60 % over minimum 12.60% with monthlu rests margin 30% |
|
Name of the company |
MAHARANI
PAINTS INDIA PRIVATE LIMITED |
|
Presented By |
Mr. R K Bhatia, Director |
|
1) Date and description of instrument creating the change |
General Agreement Dated 4.10.199 registered on 29.10.1999 for Rs. 19.800 Millions which enhanced to Rs. 25.500 Millions dated 20.04.2001 registered on 02.05.2001 which further enhanced to Rs. 28.000 Millions dated 18.09.2001registered on 25.09.2001 further enhanced to Rs. 34.500 Millions dated 26.11.2002registered on 23.12.2002.Further enhanced to Rs. 38.500 Millions at 14.10.2003 Registered on 13.11.2003 which further enhanced to Rs. 61.700 Millions at 2.03.2004 registered on 29.01.2004 which further enhanced to Rs. 109.00 Millions at 31.01.2005 registerd on 24.02.2005. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 19.800 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of all goods, movable, Plant & Machinery, Stock in trade, Book Debts & other assets to the borrower equitable mortgage of land and building at plot no. 349 sec. 24, Faridabad studding in the nature of company. Personal guarantee of all the directors. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest @ 2.25% Over SBAR minimum rate @14.25% + Interest Tax. Present effective Rate is 14.53% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India, SIB Branch, 65, Prita Road, Faridabad, Haryana |
|
6) Date and brief description of instrument modifying the charge |
Supplemental Agreement of loan for increase in the overall limit for C1 A, C2 A, C4 A, C5, Dated 31.03.2005 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Present limit enhanced to Rs. 140.000 Millions, (CC[Hypothecation]) of Rs. 80.000 Millions stand by Left Corers LC = Rs. 50.000 Millions Hypothecation of Stocks of Stores Spares, SIP, Lying in factory, Godown & else where including goods in transit, Hypothecation of present & future book debts, receivables equitable mortgage of land & Building 349, Sector 24, Faridabad owned by the company charged on current + Fixed assets of the company present & future corporate guarantee of M/S Sono Electrical (Private) Limited in favour of State Bank of India, SIB Branch, by equitable mortgage of its land & building at Sector 24, Faridabad, Rate of Interest1.50% over SBAR 8.75% p.a. with monthly interest. |
|
Name of the company |
MAHARANI
PAINTS INDIA PRIVATE LIMITED |
|
Presented By |
Mr. B R Bhatia, Director |
|
1) Date and description of instrument creating the change |
General Agreement Dated 4.10.199 registered on 29.10.1999 for Rs. 19.800 Millions which enhanced to Rs. 25.500 Millions dated 20.04.2001 registered on 02.05.2001 which further enhanced to Rs. 28.000 Millions dated 18.09.2001registered on 25.09.2001 further enhanced to Rs. 34.500 Millions dated 26.11.2002registered on 23.12.2002.Further enhanced to Rs. 38.500 Millions at 14.10.2003 Registered on 13.11.2003 which further enhanced to Rs. 61.700 Millions at 2.03.2004 registered on 29.03.2001. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 19.800 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of all goods, movable, Plant & Machinery, Stock in trade, Book Debts & other assets to the borrower equitable mortgage of land and building at plot no. 349 sec. 24, Faridabad studding in the nature of company. Personal guarantee of all the directors. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest @ 2.25% Over SBAR minimum rate @14.25% + Interest Tax. Present effective Rate is 14.53% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India, SIB Branch, 65, Prita Road, Faridabad, Haryana |
|
6) Date and brief description of instrument modifying the charge |
Dated 31.01.2005 Form C1 A Supplemental Agreement of loan for increase in the overdraft limit. Form C2 A, Supplemental Agreement of Hypothecation of goods + Assets for increase in the over all limit. Letter confirming deposits of title deeds. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Present limit enhanced to Rs. 109.000 Millions, (CC[Stock]) of Rs. 18.500Millions CC Book Debts Rs. 30.000 Millions, DDP Cheque - Rs. 150.000 Millions stand by line of credit LC = Rs. 150.000 Millions, CC Limit Rs. 15.000 Millions, Adhoc SLC Rs. 7.500 Millions , Letter of Credit Rs. 10.000 Millions , Adhoc L.C Rs. 25.000 Millions Hypothecation of Stocks of Stores Spares, SIP, Lying in factory, Godown & else where including goods in transit, Hypothecation of present & future book debts, receivables equitable mortgage of land & Building 349, Sector 24, Faridabad owned by the company charged on current + Fixed assets of the company present & future corporate guarantee of M/S Sono Electrical (Private) Limited in favour of State Bank of India, SIB Branch, by equitable mortgage of its land & building at Sector 24, Faridabad, measuring 2200 sq. yards. Rate of Interest 2.00% over SBAR minimum 12.25% p.a. at monthly. |
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 Intl 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
companys 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 |
Rs.45.91 |
|
UK
Pound |
1 |
Rs.84.63 |
|
Euro |
1 |
Rs.57.74 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
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 |
|
TOTAL |
|
68 |
This score serves as a reference to assess SCs 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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |