MIRA
INFORM REPORT
|
Report Date : |
27.10.2006 |
IDENTIFICATION
DETAILS
|
Name : |
CONSOLIDATED
CONSTRUCTION CONSORTIUM LIMITED |
|
|
|
|
Registered Office : |
No. 3,
2nd Link Street, C.I.T. Colony, Mylapore, Chennai – 600004,
Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
11.07.1997 |
|
|
|
|
Com. Reg. No.: |
18-38610 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U45201TN1997PLC038610 |
|
|
|
|
Legal Form : |
Closely
Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
The
company is engaged in Civil Construction. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD
900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually
correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established company having fine track. Trade relations are fair.
Financial position is satisfactory.
Payments are usually correct and as per commitments. The
company can be considered good for any normal business dealings. |
LOCATIONS
|
Registered/Corporate Office : |
No. 3,
2nd Link Street, C.I.T. Colony, Mylapore, Chennai – 600004,
Tamilnadu, India |
|
Tel. No.: |
91-44-24661083
/ 84 |
|
Mobile : |
91-9444395057 |
|
Fax No.: |
91-44-24990225 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional
Office : |
Chennai Tel. No. : 91-44-24735693 /23728307/ 08 Mobile : 91-9444022146 Tele-fax: 91-44-24735693 Email: chn@ccclindia.com Person Incharge: Mr. T. Suresh Kumar,
Deputy. Regional Planning Manager
Tel. No. : 91-80-26787643/26787791 Mobile : 91-9448472800 Tele-fax : 91-80-2678 7791 Email: ccclblr@vsnl.com Person Incharge: Mr. R. Kishore, Manager -
Business Development
Tel. No. : 91-40-27842681 Mobile: 91-9440623030 Tele-fax : 91-40-27842668 Email: ccclhyd@yahoo.co.in, hydbd@ccclindia.com
Person Incharge: Mr. G. Ramasubramanyam,
Manager - Business Development
A1/263, Mezzanine Floor, Safdarjung
Enclave, New Delhi - 110 029, India Tel. No. : 91-11-51658236/37/38 Mobile: 91-9810525517 Email: cccldelhi@mantraonline.com
Person Incharge: Mr. A. D. Huria, Executive
Director
Tel. No. : 00971-6-5750902 Mobile : 00971-503055729 Tele-fax : 00971-6-5750902 Email: majconco@eim.ae Person Incharge: Mr. D. Uma Sankar, General
Manager |
DIRECTORS
|
Name : |
Mr. R.
Sarabeswar |
|
Designation : |
Chairman
& Whole Time Director |
|
Address : |
1A,
Norton Main Road, Mandavelipakkam, Chennai – 600028, Tamilnadu, India |
|
Date of Birth/Age : |
04.05.1954 |
|
Date of Appointment : |
19.10.1999 |
|
|
|
|
Name : |
Mr. S.
Sivaramakrishnan |
|
Designation : |
Managing
Director |
|
Address : |
27A,
Railway Colony, II Street, Nelson Manickam Road, Chennai – 600029, Tamilnadu,
India |
|
Date of Birth/Age : |
15.02.1954 |
|
Date of Appointment : |
11.07.1997 |
|
|
|
|
Name : |
Mr. P.
Venkatesh |
|
Designation : |
Director
|
|
Address : |
D1 HIG
Flat, Ashok Pillar Road, Ashok Nagar, Chennai – 600083, Tamilnadu, India |
|
Date of Birth/Age : |
13.05.1962 |
|
Date of Appointment : |
22.08.1997 |
|
|
|
|
Name : |
Mr. V.
G. Janarthanam |
|
Designation : |
Whole
Time Director |
|
Address : |
AL –
33, 4th Avenue, Anna Nagar West, Chennai – 600040, Tamilnadu,
India |
|
Date of Birth/Age : |
12.04.1956 |
|
Date of Appointment : |
01.07.2002 |
|
|
|
|
Name : |
Mr. K.
Kannan |
|
Designation : |
Director
|
|
Address : |
576 B,
Mahesh, Jame Jamshed Road, Mathunga, Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
17.11.1939 |
|
Date of Appointment : |
29.10.2003 |
KEY EXECUTIVES
|
Name
: |
Mr. N.
Balachandran |
|
Designation
: |
Company
Secretary in Practice |
|
Address
: |
C/2,
Yamuna Flats, 16th Street, Nanganallur, Chennai – 600061,
Tamilnadu, India |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Ms.
Anandhi Seetharaman |
|
32050 |
|
Mr.
Arul Anandan X |
|
125000 |
|
Mr.
Ayyadurai A |
|
100000 |
|
Mr.
Baskara Sethuraj T |
|
19600 |
|
Mr.
Durgadoss R |
|
10002 |
|
Mr.
Dharanidhar K. |
|
10000 |
|
Mr.
Devanarayanan T K |
|
5300 |
|
Ms.
Eswari Manivannna |
|
14000 |
|
Ms.
Girija R. |
|
1207502 |
|
Ms.
Geetha Subramani |
|
13900 |
|
Mr.
Janarthanam V. G. |
|
140002 |
|
Dr.
Jayaraman S. |
|
3900 |
|
Mr.
Kolipakkam Moha |
|
17000 |
|
Ms.
Lakshmi Subramoni |
|
4800 |
|
Ms.
Letha L. |
|
4500 |
|
Mr.
Manivannan K. |
|
14000 |
|
Ms.
Madhavi Ganesh |
|
30000 |
|
Mr.
Nischal B R |
|
23200 |
|
Mr.
Nagarajan T B |
|
5000 |
|
Mr.
Padmavathy J |
|
99000 |
|
Mr.
Priyamvada K |
|
22500 |
|
Mr.
Padmanabhan L. |
|
70000 |
|
Mr.
Rajagopal K. |
|
10000 |
|
Ms.
Ramadevi Ramamoorthy |
|
8300 |
|
Mr.
Ravi P. N. |
|
30000 |
|
Mr.
Renganathan Ramamoorthy |
|
10000 |
|
Mr.
Ramachandran S. |
|
21000 |
|
Mr.
Ram D N |
|
3800 |
|
Ms.
Rajalakshmi Bharath |
|
11000 |
|
Mr.
Rengaraj G. |
|
1250 |
|
Mr.
Sarabeswar R. |
|
164402 |
|
Ms.
Sivaramakrishnan S. |
|
191832 |
|
Mr.
Subramani S. R. |
|
3500 |
|
Mr.
Sudharsan Reddy P. |
|
23200 |
|
Mr.
Sundaram K. |
|
11600 |
|
Mr.
Sondra Sukumar |
|
11600 |
|
Mr.
Seetharaman T. R. |
|
16600 |
|
Ms.
Shobana K. |
|
8100 |
|
Mr.
Sivaramakrishnan G. |
|
6000 |
|
Mr.
Sridaran S. |
|
16000 |
|
Mr.
Subramania Iyer Viswanathan |
|
69600 |
|
Mr.
Sivarajan Balasubramaniam |
|
116000 |
|
Mr.
Srinivas B. |
|
1500 |
|
Ms.
Usha Sarabeswar |
|
1328058 |
|
Mr.
Venkatesh P. |
|
2 |
|
Mr.
Vaidyanathan A. S. |
|
112000 |
|
Mr.
Vidyasekar B. |
|
46400 |
|
TOTAL |
|
4193000 |
BUSINESS DETAILS
|
Line of Business : |
The
company is engaged in Civil Construction. |
GENERAL
INFORMATION
|
No. of Employees : |
4000 |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
State
Bank of India Leather
International Branch, Chennai – 600010, Tamilnadu, India Union
Bank of India Industrial
Finance Branch, Chennai – 600034, Tamilnadu, India Federal
Bank Limited Chennai
– 600002, Tamilnadu, India ICICI
Bank Limited Nungambakkam
High Road, Chennai – 600034, Tamilnadu, India Karur
Vysya Bank Limited Mylapore
Branch, Chennai – 600004, Tamilnadu, India Bank
of Baroda T.
Nagar Branch, Chennai – 600017, Tamilnadu, India |
||||||||||||||
|
|
|
||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
Murali
Associates Chartered
Accountants, G – 1,
Kumar’s Krishna, No. 56, II Main Road, R. A. Puram, Chennai – 600028,
Tamilnadu, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
9000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 90.000 millions |
|
1000000 |
Preference
Shares |
Rs. 10/- each |
Rs. 10.000 millions |
|
|
TOTAL |
|
Rs. 100.000
millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
4193000 |
Equity
Shares |
Rs. 10/- each |
Rs. 41.930 millions |
|
30000 |
15%
Cumulative Non Participating Redeemable Preference Shares |
Rs. 10/- each |
Rs. 0.300 million |
|
20000 |
13%
Cumulative Non Participating Redeemable Preference Shares |
Rs. 10/- each |
Rs. 0.200 million |
|
20000 |
10%
Cumulative Non Participating Redeemable Preference Shares |
Rs. 10/- each |
Rs. 0.200 million |
|
|
TOTAL |
|
Rs. 42.630
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
42.630 |
17.929 |
17.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
182.155 |
122.950 |
85.700 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
224.785 |
140.879 |
103.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
262.408 |
90.776 |
36.500 |
|
|
2] Unsecured Loans |
10.985 |
23.247 |
16.000 |
|
|
TOTAL BORROWING |
273.393 |
114.023 |
52.500 |
|
|
DEFERRED TAX LIABILITIES |
5.285 |
3.295 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
503.463 |
258.197 |
156.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
92.799 |
52.447 |
45.800 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.704 |
1.519 |
1.300 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Capital work-in-progress |
616.575 |
313.403 |
|
|
|
Sundry Debtors |
13.112 |
6.338 |
265.500 |
|
|
Cash & Bank Balances |
81.934 |
88.944 |
|
|
|
Other Current Assets |
0.000 |
0.000 |
|
|
|
Loans & Advances |
50.547 |
36.824 |
80.200 |
|
Total Current Assets |
762.168 |
445.509 |
345.700 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
357.244 |
237.342 |
|
|
|
Provisions |
0.000 |
3.990 |
|
|
Total Current Liabilities |
357.244 |
241.332 |
236.800 |
|
|
Net Current Assets |
404.924 |
204.177 |
108.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.036 |
0.054 |
0.100 |
|
|
|
|
|
|
|
|
TOTAL |
503.463 |
258.197 |
156.100 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Sales Turnover [including other income] |
3068.042 |
1602.364 |
667.700 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
126.299 |
64.544 |
50.300 |
|
Provision
for Taxation |
47.492 |
23.352 |
18.700 |
|
Profit/(Loss)
After Tax |
78.807 |
41.192 |
31.600 |
|
|
|
|
|
|
Total
Expenditure |
2941.743 |
1537.820 |
617.400 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
2.56
|
2.57 |
4.73 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
4.11
|
4.02 |
7.53 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
14.77
|
12.96 |
12.84 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.56
|
0.45 |
0.48 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
2.80
|
2.52 |
2.79 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
2.13
|
1.84 |
1.45 |
LOCAL AGENCY
FURTHER INFORMATION
Operations
:
The
company’s performance in the year ended 31.03.2005 was marked by strong growth
in its income from operations in spite of a competitive environment prevailing
in the construction industry added by unorganized sector activities putting
undue pressure on the profit margins.
During the year under report, the company ended the financial year with
income from operations at Rs. 3061.7 millions registering a growth of around 91%
over the previous year.
Dividend
The
directors recommend the confirmation of Interim Dividend @ 25% amounting to Rs.
8.614 millions and paid during the year, as Final Dividend for Equity
Shares. The directors also recommend
the confirmation of Interim Preference Dividend paid amounting to Rs. 0.091
million on the Preference Shares, as final dividend for preference shares.
Capital
During
the year the company has issued bonus shares in the ratio of 1:1 for all the
existing equity share holders on the record date by way of capitalising the
reserves amounting to Rs. 17.229 millions. Apart from the above the company has
also raised equity funds through Rights Issue which received overwhelming
support from the shareholders amounting to Rs. 7.471 millions. The rights was
exercised by the shareholders with a share premium of Rs. 10 per share
amounting to Rs. 7.471 millions. The
company’s quest for value creation will be given major focus to have better
stake values to the esteemed shareholders.
Outlook
and prospects
An
independent study on the prospects for the construction industry has placed
that only China and India show promise for a sustained growth of the
industry. It is encouraging to find
that the government has finally taken steps to make the environment friendly
for this industry. First, the projects
on the infrastructure have been put on the fast track by having a neutral
central agency nominated to provide all the required clearances thereby cutting
down the regulatory time required for such projects. Second, the public investment on infrastructure by both federal
and state governments have been increased substantially. Third a strategic component of those investments
have already been closed through specific arrangements with the international
funding agencies. Fourth, the sector
has been opened up for foreign investment especially for township development
and fifth, real estate fund is to be permitted.
Let us
examine from the various segments and angles.
Construction business can be broken down in to infrastructure,
industrial and housing. The measures
taken by the government both in the regulatory as well as from public finance
points to a substantial growth of the infrastructure investment in the near
term. This comprises all its components
namely, ports – sea, air and land ; power ; roads and bridges and
transportation.
Industrial
climate is looking better than ever before and there is a renewed enthusiasm in
manufacturing buoyed by the robust growth in the last few quarters. Commercial investment has been triggered by
spectacular growth among the service industries notably software, banking and
financial services, retail and logistics.
Housing
sector growth in major cities has witnessed one of the strongest growth rates
among all sectors in the immediate past.
This has been enabled by the lowering of credit rates and an aggressive
lending by most of the home mortgage players in the country. This is now extending to the towns as well.
The
company has a substantial presence and rating in the industrial segment and a
marginal presence in the infrastructure and housing segments. It is the endeavour of the company to scout
for a suitable partner for it to emerge a leading player in these two segments
in future. The company is hopeful of
finding such a partner in the current year.
Order
book position
1. Some
of the major orders executed during the year are :
Infosys
Technologies Limited – Mahindra Park
Infosys
Technologies Limited – Sholinganallur
Manipal
Academy of Higher Education – Mangalore Project
Mitsuba
Sical India Limited – Gummidipoondi, Chennai
Grundfos
Pumps India Private Limited – Chennai
Hyderabad
International Airport Limited – Hyderabad
Ascendas
IT Park Project – Chennai
2. They
have also received the following major orders just after 31.03.2005 :
ABB
Limited – Bangalore
Tanglin
Developments Limited – Bangalore
Olympia
Technology Park – Chennai
Ashok
Leyland – Chennai
ICICI
Knowledge Park – Hyderabad
Fixed
Assets
Land –
Freehold, Buildings, Plant & Machinery, Furniture & Fixtures, Office
Equipments and Vehicles.
|
Name of the company |
CONSOLIDATED CONSTRUCTION CONSORTIUM LIMITED |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Presented By |
Ms. Lakshmi Jayaraman, Company Secretary |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
a. Agreement of hypothecation of goods and assets – form C – 2 dated 10.10.2003 b. Agreement of Loan for overall limit Form C – 1 dated 10.10.2003 c. Deed of Guarantee for overall limit Form C – 4 dated 10.10.2003 d. Letter regarding grant of individual limits form C – 5 dated 10.10.2003 e. Letter creating equitable mortgage by way of deposit of title deeds of immovable properties dated 10.10.2003 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Totalling to Rs. 150.000 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 |
1. A first charge by way of hypothecation, paripassu with order participating Bankers namely Union Bank of India, Bank of Baroda, ICICI Bank Limited on progress, moneys receivable by way of Book debts, sundry debtors and other monies due both present and future 2. Equitable mortgage of the following properties to held on security on pari – passu terms between the working capital Loan Bankers : a. Land at Unnammanchey at survey no. 433/1 433/3 433/4 433/5 434/1 434/2 434/1C 434/1B 434/1 434/1E 434/2E 434/1G 440/1 440/4 440/2 and 440/3 admeasuring 7.16 acres b. Land at Nedunkundram Village with survey No. 114/1A, 11/4B, 10/3, 9/3B, 10/4B and 10/3 admeasuring 1.34 acres and lands with survey nos. 9/7A, 10/1A, 10/1B, 11/6A, 9/6, 102B, 9/5-O, 10/2A and 11/5-O admeasuring 4.20 acres c. Landed Property situated at Giddenahalli, Attibele, Hubli, Anetal Taluk with Survey No. 10, 11 and 17 admeasuring 1, 42, 113 sq. ft. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Loan sanctioned against the equitable mortgage of land and buildings as mentioned above along with hypothecation of book debts and machineries of the company with commercial interest as may be applicable from time to time based on the rating |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India M. V. J. Towers, No. 177/1, Poonamallee High Road, Kilpauk, Chennai – 600010 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
Letter evidencing creation of equitable mortgage on the property of the company situated at Sengundram Village, Chengalpattu Taluk, Kancheepuram, District dated 03.11.2005 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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. |
There is no change / revision in the credit facilities availed from the bank and all the other terms and conditions remains the same. In addition to hypothecation of current assets and the properties already mortgaged with the bank and registered with the RoC, Chennai, dated 20.09.2005, equitable mortgage has been created on the property situated at Sengundram Village, Chengalpattu Taluk, Kancheepuram District comprised in Survey Nos. 232/1A1, 232/2A1 and 232/2B admeasuring 33, 82 and 78 cents respectively Existing equitable mortgage on the properties are listed herein below :
Build up Area sq. ft. Basement Floor 1920 Ground Floor 2260 Mezzanine Floor 2260 I Floor 2560 Total
9000 In
all measuring 9000 sq. ft.
In all measuring 4.20 acres 3. Landed property situated at No. 12, Unnamanchery village Kattankulathur Panchayat Union, Chengalpet Tk, Kancheepuram Dt admeasuring
Landed property at Nedungundram Village, Tambaram Tk, Kancheepuram Dt admeasuring
5. Landed property at Giddenhalli, Attibele Hubli, Anekal Taluk at Bangalore admeasuring
In all measuring 3 acres and 10.5 guntas 6. Land at Thirukatchur Village, Chengelput with survey no. 550 now denoted as 549/1, 550/1 measuring 0.86 cents and 2.00 acres respectively all the above properties belonging to the company, along with other existing properties belonging to the company as mentioned in point [3] above shall rank Paripassu among the two bankers State Bank of India and Union Bank of India |
|
Name of the company |
CONSOLIDATED CONSTRUCTION CONSORTIUM LIMITED |
||||||||
|
Presented By |
Ms. Lakshmi Jayaraman, Company Secretary |
||||||||
|
1) Date and description of instrument creating the change |
a. Agreement of hypothecation of goods b. Agreement of hypothecation of goods All agreements dated 18.11.2005 and relates to one and the same charge |
||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Totalling to Rs. 235.000 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 |
A first charge by way of hypothecation, paripassu with order participating Bankers namely Union Bank of India, Bank of Baroda, ICICI Bank Limited on progress, moneys receivable by way of Book debts, sundry debtors and other monies due both present and future |
||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Cash Credit Rate of Interest – 0.50% over BPLR with monthly rests Margin – 25% |
||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda No. 15, Gopalakrishnan Street, T. Nagar, Chennai – 600017 |
||||||||
|
6) Date and brief description of instrument modifying the charge |
Nil |
||||||||
|
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. |
Nil |
|
Name of the company |
CONSOLIDATED CONSTRUCTION CONSORTIUM LIMITED |
||||||||
|
Presented By |
Mr. S. Sivramakrishnan – Managing Director |
||||||||
|
1) Date and description of instrument creating the change |
Credit facility agreement dated 10.10.2003 Deed of Hypothecation agreement dated 10.10.2003 General Counter Guarantee and indemnity dated 10.10.2003 Personal Guarantee given by principal directors dated 10.10.2003 |
||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Totalling to Rs. 119.000 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 |
A first charge by way of hypothecation, paripassu with order participating Bankers namely Union Bank of India, Bank of Baroda, ICICI Bank Limited on progress, moneys receivable by way of Book debts, sundry debtors and other monies due both present and future |
||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Loan sanctioned against the equitable mortgage – to be created for land and buildings belonging to the company and against the book debts, stock of inventory, sundry debtors and other monies due with commercial interest as may be applicable from time to time based on the rating. |
||||||||
|
5) Name and Address and description of the person entitled to the charge. |
ICICI Bank Limited Nungambaakam Branch, Chennai – 600034 |
||||||||
|
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 |
WEBSITE
DETAILS
Corporate Overview
Consolidated Construction Consortium Limited (CCCL) is
an ISO-certified company with a turnover of around Rs. 3 billion. It has a
significant presence in India, with offices in Chennai, Bangalore, Hyderabad
and Delhi. An office recently opened in Middle East marks the beginning of its
international visibility.
Thanks to its unique professionalism that embodies a code of ethics, a
committed and farsighted management team and its band of experts in a wide
range of domains, CCCL has registered consistent growth over the years, ever
since its inception.
CCCL’s services encompass Construction, Engineering, Procurement, and Project
Management. To CCCL’s credit stand IT Parks, Biotech Parks, Resorts and Hotels,
Commercial, Industrial & Institutional structures and Infrastructure
facilities. Further, CCCL’s Specialty projects involving Precast Pre-stressed
Structures, Pre-engineered structures and Shell Structures are remarkable for
their innovative and revolutionary application of technology and expertise.
CCCL has time and again stood true to its vision and mission, and looks to the
future with undiminished enthusiasm and enterprise.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our Governance
Assessment focuses principally on the interactions between a company’s
management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.93 |
|
UK
Pound |
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.57.34 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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 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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|