MIRA
INFORM REPORT
|
Report Date : |
11.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
AMA
PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Canada
Building, 244 Dr. D. N. Road, Fort, Mumbai 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2004 |
|
|
|
|
Date of Incorporation : |
18.10.1938 |
|
|
|
|
Com. Reg. No.: |
11-2850 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51109MH1938PTC002850 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA18462D |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Importing
and manufacturing Aviation Lighting Equipment. |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
20000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established company having satisfactory track. Directors are experienced, respectable and
resourceful businessmen. Their trade
relations are fair. Financial
position is good. Payments are
usually correct and as per commitments.
The company can be considered good for any normal business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered / Head Office : |
Canada
Building, 244 Dr. D. N. Road, Fort, Mumbai 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22075271-2
/ 66396571-2 |
|
Fax No.: |
91-22-22078910 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Site
Office : |
E78 Anand Niketan, New Delhi - 110 021, India |
|
Mobile
: |
91-98111 71088 |
|
|
|
|
Factory
1 : |
125/126,
Champaklal Industrial Estate, Sion Koliwada Road, Sion [East], Mumbai
400022, Maharashtra, India Contact
Person : Mr. Vijay Rumde, Chief Engineer |
|
Tel.
No.: |
91-22-24091398 |
|
|
|
|
Factory
2 : |
C/1-
266 / 267, GIDC Industrial Estate, Naroda, Ahmedabad 382330, Gujarat, India Contact
Person : Mr. Dilip Shah, Works Manager |
|
Tel.
No.: |
91-79-2811049
/ 3568 |
|
|
|
|
Branches
: |
88 Bangla Sahib Marg, New Delhi - 110 001, India Contact Person : Mr. Gaurav Shorey |
|
Tel.
No.: |
91-11-2374 2022 / 2374 2522 |
|
Fax
No.: |
91-11-2334 7922 |
DIRECTORS
|
Name : |
Ms.
Minal Girish Patel |
|
Designation : |
Chairman
|
|
Address : |
Malabar
Court, Ridge Road, Mumbai 400006, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1939 |
|
Date of Appointment : |
01.01.1972 |
|
|
|
|
Name : |
Mr.
Rahul Girish Patel |
|
Designation : |
Director
|
|
Address : |
Malabar
Court, Ridge Road, Mumbai 400006, Maharashtra, India |
|
Date of Birth/Age : |
12.05.1965 |
|
Date of Appointment : |
29.09.2003 |
|
|
|
|
Name : |
Mr.
Sameer Girish Patel |
|
Designation : |
Director
|
|
Address : |
Malabar
Court, Ridge Road, Mumbai 400006, Maharashtra, India |
|
Date of Birth/Age : |
04.02.1967 |
|
Date of Appointment : |
01.10.1989 |
|
|
|
|
Name : |
Ms.
Hema Rahul Patel |
|
Designation : |
Director
|
|
Address : |
Malabar
Court, Ridge Road, Mumbai 400006, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1964 |
|
Date of Appointment : |
06.01.1992 |
|
|
|
|
Name : |
Ms.
Sangeeta Sameer Patel |
|
Designation : |
Director
|
|
Address : |
Malabar
Court, Ridge Road, Mumbai 400006, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1966 |
|
Date of Appointment : |
14.12.1993 |
KEY EXECUTIVES
|
Name
: |
Mr. T.
S. Gyani |
|
Designation
: |
Company
Secretary |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Ms.
Dahiben Bhailal Patel |
|
57 |
|
Ms.
Dahiben Bhailal Patel |
|
56 |
|
Ms.
Minal Girish Patel |
|
100 |
|
Ms.
Minal Girish Patel |
|
242 |
|
Mr.
Sameer Girish Patel |
|
169 |
|
Mr.
Rahul Girish Patel |
|
173 |
|
Mr.
Rahul Girish Patel |
|
177 |
|
Mr.
Sameer Girish Patel |
|
176 |
|
Mr.
Rahul Girish Patel |
|
2 |
|
Ms.
Minal Girish Patel |
|
358 |
|
Mr.
Sameer Girish Patel |
|
2 |
|
Mr.
Rahul Girish Patel |
|
350 |
|
Mr.
Sameer Girish Patel |
|
355 |
|
TOTAL |
|
2217 |
BUSINESS DETAILS
|
Line of Business : |
Importing
and manufacturing Aviation Lighting Equipment. |
GENERAL
INFORMATION
|
No. of Employees : |
20 |
|
|
|
|
Bankers : |
Indian
Overseas Bank HSBC HDFC
Bank |
|
|
|
|
Facilities : |
SECURED
LOANS : Overdraft
balance with and Term Loans from Indian Overseas Bank Car
Loan from HSBC and HDFC Bank |
|
|
|
|
Banking Relations : |
Good |
|
|
|
|
Auditors : |
Pradeep
B. Bhatt & Company Chartered
Accountants, Mumbai,
Maharashtra, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2400 |
Equity
Shares |
Rs. 1000/- each |
Rs. 2.400 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
69 |
Ordinary
Shares |
Rs. 1000/- each |
Rs. 0.069 million |
|
1938 |
Ordinary
Shares |
Rs. 1000/- each |
Rs. 1.938 millions |
|
210 |
Ordinary
Shares |
Rs. 1000/- each |
Rs. 0.210 million |
|
|
TOTAL |
|
Rs. 2.217
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.217 |
2.217 |
2.217 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.807 |
2.455 |
2.755 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.024 |
4.672 |
4.972 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.613 |
4.883 |
4.311 |
|
|
2] Unsecured Loans |
13.829 |
7.842 |
4.618 |
|
|
TOTAL BORROWING |
20.442 |
12.725 |
8.929 |
|
|
DEFERRED TAX LIABILITIES |
0.050 |
0.030 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.516 |
17.427 |
13.901 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.346 |
3.181 |
2.253 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.002 |
0.002 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.770 |
5.844 |
|
|
|
Sundry Debtors |
20.775 |
10.448 |
|
|
|
Cash & Bank Balances |
2.852 |
1.520 |
|
|
|
Other Current Assets |
2.354 |
2.027 |
|
|
|
Loans & Advances |
7.057 |
6.372 |
|
|
Total Current Assets |
39.808 |
26.211 |
31.536 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities & Provisions |
18.639 |
11.967 |
19.888 |
|
Total Current Liabilities |
18.639 |
11.967 |
19.888 |
|
|
Net Current Assets |
21.169 |
14.244 |
11.648 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.516 |
17.427 |
13.901 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
|
Sales Turnover [including other income] |
|
46.595 |
37.732 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
0.611 |
0.426 |
|
Provision
for Taxation |
|
0.260 |
0.299 |
|
Profit/(Loss)
After Tax |
|
0.351 |
0.127 |
|
|
|
|
|
|
Export
Value |
|
3.190 |
0.378 |
|
|
|
|
|
|
Total
Expenditure |
|
45.984 |
37.306 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
31.03.2002 |
|
PAT / Total Income |
(%) |
0.75
|
0.33 |
N.A. |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
1.31
|
1.12 |
N.A. |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
1.38
|
1.44 |
N.A. |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.09 |
N.A. |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
7.77
|
5.28 |
5.79 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
2.13
|
2.19 |
1.58 |
LOCAL AGENCY
FURTHER INFORMATION
AMA
Airfield Lighting Systems is a division of AMA Private Limited.
The
company has entered into partnership with the Managing Director and Directors
of the company under the name AMA Engineering of Association of the company.
The
sales during the year were Rs. 41.932 millions resulting in net profit of Rs.
0.611 million as shown above. The
prospects for the activities of the company remain favourable.
Fixed
Assets
Plant
& Machinery, Office Equipment, Furniture & Fixtures, Xerox Machine, Fax
Machine, Motor Car, etc.
|
Name of the company |
AMA PRIVATE LIMITED |
|
Presented By |
AMA PRIVATE LIMITED and Indian Overseas Bank, Fort Branch, Mumbai 400023 |
|
1) Date and description of instrument creating the change |
12.06.1998 Letter of Hypothecation [for securing machineries / goods / book debts] dated 12.06.1998 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.000 millions Consisting of cash credit limit of Rs. 3.500 millions, Letter of Credit [Inland and Foreign] limit of Rs. 1.000 million and Letter of Guarantee limit of Rs. 6.500 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 Airport lighting equipments, glide parh indicators constant current regulators, control panels and all other accessories and equipments connected with Airport lighting. In respect of Letter of credit facility the security cover shall be documents to title to goods Hypothecation of all machineries both existing & future installed / to be installed at factory premises of the company at Ahmedabad and Mumbai Hypothecation of entire stocks and finished goods incourse of transit. Hypothecation of present and future book debts of the company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The bank has granted the aforesaid facilities on the following terms and conditions Cash Credit : Interest Prime lending Rate + 4.5% + Interest Tax at the applicable rates from time to time The current rate of interest is at 17.5% p.a. + Interest Tax Margin On stock 25% - On Book Debts 50% Letter of Credit Commission as per FEDAI rules Margin 10% Letter of Guarantee : Commission as per relevant central office circular of the Bank in force from time to time Right of entry, inspection, appointment of receiver, right of sale or otherwise dispose of all or any part of the hypothecated assets reserved in favour of the Bank in case of default, non compliance or breach of any of the terms and conditions of the Hypothecation Agreement. |
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank 2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai 400023, Maharashtra, India |
|
6) Date and brief description of instrument modifying the charge |
28.03.2005 Deed of First Extension of Equitable Mortgage dated 28.03.2005 |
|
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. |
The company is enjoying credit facilities amounting to Rs. 15.826 millions from the Bank and the same is secured by the hypothecation of stocks, book debts, plant & machineries and other movable assets of the company. By the 2nd modification dated 06.07.1998, the company had also created a mortgage charge on the properties of the company to secure the credit limit of Rs. 13 millions. By the present modification, the amount secured by equitable mortgage of the immovable property of the company has been enhanced from Rs. 13 millions to Rs. 15 millions Where as the hypothecation charge shall continue to secure the aggregate facility of Rs. 15.826 millions, the mortgage charge shall secure only the enhanced amount of Rs. 15 millions Further, the properties which have been mortgaged as security are :-
All other terms and conditions remain the same. |
|
Name of the company |
AMA PRIVATE LIMITED |
|||||||||||||||||||||
|
Presented By |
AMA PRIVATE LIMITED and Indian Overseas Bank, Fort Branch, Mumbai 400023 |
|||||||||||||||||||||
|
1) Date and description of instrument creating the change |
12.06.1998 Letter of Hypothecation [for securing machineries / goods / book debts] dated 12.06.1998 |
|||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.000 millions Consisting of cash credit limit of Rs. 3.500 millions, Letter of Credit [Inland and Foreign] limit of Rs. 1.000 million and Letter of Guarantee limit of Rs. 6.500 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 Airport lighting equipments, glide parh indicators constant current regulators, control panels and all other accessories and equipments connected with Airport lighting. In respect of Letter of credit facility the security cover shall be documents to title to goods Hypothecation of all machineries both existing & future installed / to be installed at factory premises of the company at Ahmedabad and Mumbai Hypothecation of entire stocks and finished goods incourse of transit. Hypothecation of present and future book debts of the company |
|||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The bank has granted the aforesaid facilities on the following terms and conditions Cash Credit : Interest Prime lending Rate + 4.5% + Interest Tax at the applicable rates from time to time The current rate of interest is at 17.5% p.a. + Interest Tax Margin On stock 25% - On Book Debts 50% Letter of Credit Commission as per FEDAI rules Margin 10% Letter of Guarantee : Commission as per relevant central office circular of the Bank in force from time to time Right of entry, inspection, appointment of receiver, right of sale or otherwise dispose of all or any part of the hypothecated assets reserved in favour of the Bank in case of default, non compliance or breach of any of the terms and conditions of the Hypothecation Agreement. |
|||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank 2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai 400023, Maharashtra, India |
|||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
25.07.2003 1. Letter of Hypothecation [F 110E] 2. Term Loan agreement [F- 110C] Both dated 15.07.2003 and relate to a single modification |
|||||||||||||||||||||
|
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. |
By the present modification, a fresh Term Loan of Rs. 1.326 millions has been granted by the Bank to the company. Thus, the total credit facility secured by the charge has been enhanced from Rs. 11.000 millions to Rs. 12.326 millions as detailed below :
Further, the enhanced credit facility of Rs. 12.326 millions shall be additionally secured the Hypothecation of machineries purchased or to be purchased out of the said Term Loan. The credit facilities shall continue to be secured by the securities earlier provided by the company. Terms and conditions [Term Loan] : Rate of Interest : PLR + 3.5% p.a. i.e. presently 15%. Repayment : in 36 EMIs of Rs. 0.046 million each commencing from March, 2003. All other terms and conditions remain the same. |
|||||||||||||||||||||
|
Name of the company |
AMA PRIVATE LIMITED |
||||||||||||||||||||||||
|
Presented By |
AMA PRIVATE LIMITED and Indian Overseas Bank, Fort Branch, Mumbai 400023 |
||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
12.06.1998 Letter of Hypothecation [for securing machineries / goods / book debts] dated 12.06.1998 |
||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.000 millions Consisting of cash credit limit of Rs. 3.500 millions, Letter of Credit [Inland and Foreign] limit of Rs. 1.000 million and Letter of Guarantee limit of Rs. 6.500 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 Airport lighting equipments, glide parh indicators constant current regulators, control panels and all other accessories and equipments connected with Airport lighting. In respect of Letter of credit facility the security cover shall be documents to title to goods Hypothecation of all machineries both existing & future installed / to be installed at factory premises of the company at Ahmedabad and Mumbai Hypothecation of entire stocks and finished goods incourse of transit. Hypothecation of present and future book debts of the company |
||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The bank has granted the aforesaid facilities on the following terms and conditions Cash Credit : Interest Prime lending Rate + 4.5% + Interest Tax at the applicable rates from time to time The current rate of interest is at 17.5% p.a. + Interest Tax Margin On stock 25% - On Book Debts 50% Letter of Credit Commission as per FEDAI rules Margin 10% Letter of Guarantee : Commission as per relevant central office circular of the Bank in force from time to time Right of entry, inspection, appointment of receiver, right of sale or otherwise dispose of all or any part of the hypothecated assets reserved in favour of the Bank in case of default, non compliance or breach of any of the terms and conditions of the Hypothecation Agreement. |
||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank 2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai 400023, Maharashtra, India |
||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
06.01.2005 1. Letter of Hypothecation [F 110E] dated 6.01.2005 |
||||||||||||||||||||||||
|
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. |
By the present modification, a credit facility granted by the bank is enhanced from Rs. 13.826 millions to Rs. 15.826 millions by the grant of an additional LG limit of Rs. 2.000 millions The break-up of the enhanced limit is as follows :-
Further, the enhanced credit facility of Rs. 15.826 millions shall be secured the Hypothecation of stocks, book debts, plant & machinery, documents of title to goods and all other movable assets of the company, both present and future. The credit facilities shall also continue to be secured by the securities earlier provided by the company. All other terms and conditions remain the same. |
||||||||||||||||||||||||
|
Name of the company |
AMA PRIVATE LIMITED |
|||||||||||||||||||||||||||
|
Presented By |
AMA PRIVATE LIMITED and Indian Overseas Bank, Fort Branch, Mumbai 400023 |
|||||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
12.06.1998 Letter of Hypothecation [for securing machineries / goods / book debts] dated 12.06.1998 |
|||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.000 millions Consisting of cash credit limit of Rs. 3.500 millions, Letter of Credit [Inland and Foreign] limit of Rs. 1.000 million and Letter of Guarantee limit of Rs. 6.500 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 Airport lighting equipments, glide parh indicators constant current regulators, control panels and all other accessories and equipments connected with Airport lighting. In respect of Letter of credit facility the security cover shall be documents to title to goods Hypothecation of all machineries both existing & future installed / to be installed at factory premises of the company at Ahmedabad and Mumbai Hypothecation of entire stocks and finished goods incourse of transit. Hypothecation of present and future book debts of the company |
|||||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The bank has granted the aforesaid facilities on the following terms and conditions Cash Credit : Interest Prime lending Rate + 4.5% + Interest Tax at the applicable rates from time to time The current rate of interest is at 17.5% p.a. + Interest Tax Margin On stock 25% - On Book Debts 50% Letter of Credit Commission as per FEDAI rules Margin 10% Letter of Guarantee : Commission as per relevant central office circular of the Bank in force from time to time Right of entry, inspection, appointment of receiver, right of sale or otherwise dispose of all or any part of the hypothecated assets reserved in favour of the Bank in case of default, non compliance or breach of any of the terms and conditions of the Hypothecation Agreement. |
|||||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank 2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai 400023, Maharashtra, India |
|||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
26.12.2005 1. Letter of Hypothecation [F 110E] dated 26.12.2005 |
|||||||||||||||||||||||||||
|
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. |
By the present modification, a credit facility granted by the bank is enhanced from Rs. 15.826 millions to Rs. 24.326 millions. The break-up of the enhanced limit is as follows :-
Further, the enhanced credit facility of Rs. 24.326 millions shall be secured the Hypothecation of stocks, book debts, plant & machinery, documents of title to goods and all other movable assets of the company, both present and future. The credit facilities shall also continue to be secured by the securities earlier provided by the company. All other terms and conditions remain the same. |
|||||||||||||||||||||||||||
WEBSITE
DETAILS
BREAKING
NEWS - AMA
has been awarded projects for Airfield Lighting as well as Visual Docking
Guidance for Hyderabad International Airport Limited, the new greenfield,
private airport under construction in India.
AMA has
had a banner year in 2005, starting with the commissioning of 19 Visual
Dockling Guidance Systems for Mumbai Airport followed by orders for Calcutta,
Cochin and New Delhi. In addition, important projects include Supply and
Installation of Exel masts for main Delhi Approach, Cat-III Taxiway Lighting
for Delhi Airport and Cat-I lighting equipment for various airports including
Nagpur, Ahmedabad and Kolkatta.
AMA will
go into 2006 with both Hyderabad projects as well as a complete Cat-I lighting
system project for Etawah Airport (near Agra) and a Cat-III taxiway lighting
for the new parallel taxiway at Delhi.
PROFILE
AMA, the
pioneer in the field of Aviation Lighting in India, was established in the year
1940. They started importing and manufacturing Aviation Lighting Equipment in
1962, and since then they have had the privilege of supplying their wide range
of equipments to virtually every civil and several defence airports throughout
India.
From the
very beginning, their goal has been to manufacture the highest quality Airfield
Lighting Equipment in India. Today, their staff of 105 persons in their Mumbai,
New Delhi and Ahmedabad Offices and their Sion and Ahmedabad Works is headed by
the Managing Director, Mrs. Minal Patel, and their Directors, Mr. Rahul Patel
and Mr. Sameer Patel who are based in their Head Office and Mr. Kamal Kapur who
is based in their Delhi Office. They have 5 engineers at their Sion and
Ahmedabad Works and 10 site engineers to provide back-up and maintenance for
all equipment supplied by them. Furthermore, they also have several specialist
consultants who help us modify/develop their products to the latest
international standards. In recognition of the standard of their products and
their contribution to Airport Lighting in India, AMA had been appointed on the
panel of the Indian Standards Institution for airfield lighting equipment.
Their
technical excellence and commercial integrity has made AMA the undisputed
leader in this field in India.
Their
entire range of products has been tested and approved by the Directorate of
Technical Development and Production (Air), Ministry of Defence before
induction into the Military, and by CRI and other Government approved
independent labs routinely.
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.45.17 |
|
UK
Pound |
1 |
Rs.85.24 |
|
Euro |
1 |
Rs.57.89 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
54 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|