MIRA
INFORM REPORT
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Report Date : |
07.02.2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
METAFLUX
COMPANY PRIVATE LIMITED |
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Registered Office : |
162,
V. I. P. Road, Kolkata – 700054, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
29.09.1989 |
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Com. Reg. No.: |
21-53700 |
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CIN No.: [Company
Identification No.] |
U24117WB1989PTC047354 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALM01463A |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer of Continuous Casting
Products, Feeding Aids, Hot Topping System, Refractory Dressings for both
Ferrous and Non-Ferrous Foundries and various other products for Steel Plants
& Foundry Industry. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
70000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed company having satisfactory track. Directors are reported as experienced and
respectable businessmen. Trade
relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. Subject
company has been merged with Metaflux Company Private Limited in 2000. |
LOCATIONS
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Registered Office : |
162,
V. I. P. Road, Kolkata – 700054, West Bengal, India |
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Tel. No.: |
91-33-23556252/6072/5799 |
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Fax No.: |
91-33-23557636 |
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E-Mail : |
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Website : |
http://www.metafluxco.com |
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Factory
1 : |
A/5/1,
RIC Industrial Estate, Block – II, Kolkata – 700035, West Bengal, India Phone:
91-33-2355 5799 Fax:
91-33-2355 7636 B-22,
MIDC Hingna Road, Nagpur – 440016 Phone:
91-7104-236152/ 237312 Fax:
91-7104-232212 email:
mcpingp@nagpur.dot.net.in
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DIRECTORS
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Name : |
Mr.
Arundeb D. Mukherji |
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Designation : |
Managing
Director |
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Address : |
BK –
187, Salt Lake City, Sector – III, Kolkata – 700091, West Bengal |
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Date of Birth/Age : |
02.10.1944 |
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Date of Appointment : |
19.09.1989 |
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Name : |
Mr.
Tapan Kumar Shah |
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Designation : |
Joint
Managing Director |
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Address : |
HB –
323/5, Salt Lake City, Sector – III, Kolkata – 700091, West Bengal |
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Date of Birth/Age : |
08.11.1946 |
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Date of Appointment : |
19.09.1989 |
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Name : |
Mr.
Tarundeb D. Mukherjee |
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Designation : |
Director
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Address : |
Shivranjani
Apartments, 39, Kongress Nagar, Nagpur – 440012, Maharashtra |
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Date of Birth/Age : |
15.09.1948 |
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Date of Appointment : |
12.12.1998 |
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Name : |
Mr.
Utpal Kumar Chowdhury |
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Designation : |
Director
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Address : |
35B,
Trimurti Nagar, Nagpur – 440022, Maharashtra |
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Date of Birth/Age : |
23.01.1956 |
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Date of Appointment : |
12.12.1998 |
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Name : |
Mr.
Rajesh Kr. Srivastava |
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Designation : |
Director
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Address : |
Plot
No. 45, Cosmos Town, Trimurti Nagar, Nagpur – 440022, Maharashtra |
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Date of Birth/Age : |
14.10.1960 |
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Date of Appointment : |
29.03.2000 |
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Name : |
Mr. V.
K. Chaudhary |
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Designation : |
Director |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Mr.
Arundeb Mukherji |
23853 |
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Mr.
Tapan Kumar Saha |
21770 |
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Mr.
Tarundeb Mukherjee |
2932 |
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Mr.
Avishek Saha |
457 |
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Mr.
Utpal Kr. Chowdhury |
2931 |
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Ms.
Snigdha Mukherji |
500 |
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Mr.
Rajesh Kr. Srivastava |
2100 |
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Mr.
Anirup Mukherji |
457 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Continuous Casting
Products, Feeding Aids, Hot Topping System, Refractory Dressings for both
Ferrous and Non-Ferrous Foundries and various other products for Steel Plants
& Foundry Industry. |
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Exports to : |
Oman, Kuwait, Abu Dhabi, Dubai, Suria, Malaysia, South East Asia and
Africa |
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Imports from : |
South Africa |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
200 |
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Bankers : |
State
Bank of India Commercial
Branch, Salt Lake, Kolkata – 700091, West Bengal, India |
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Banking Relations : |
Satisfactory
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Auditors : |
Singh
Ray & Company Chartered
Accountants, 2,
Chowringee Road, 3rd Floor, Kolkata – 700013, West Bengal, India PAN
No. : AAIFS9174A |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
600000 |
Equity
Shares |
Rs. 10/- each |
Rs. 6.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
600000 |
Equity
Shares |
Rs. 10/- each |
Rs. 6.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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6.000 |
5.500 |
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2] Share Application Money |
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0.800 |
0.000 |
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3] Reserves & Surplus |
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10.911 |
7.868 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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17.711 |
13.368 |
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LOAN FUNDS |
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1] Secured Loans |
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29.272 |
22.231 |
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2] Unsecured Loans |
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0.067 |
0.067 |
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TOTAL BORROWING |
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29.339 |
22.298 |
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DEFERRED TAX LIABILITIES |
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0.267 |
0.298 |
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TOTAL |
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47.317 |
35.964 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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7.836 |
7.490 |
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Capital work-in-progress |
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0.000 |
0.119 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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9.867 |
7.813 |
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Sundry Debtors |
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51.314 |
35.136 |
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Cash & Bank Balances |
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4.319 |
5.256 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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4.439 |
4.962 |
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Total Current Assets |
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69.939 |
53.167 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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28.603 |
21.349 |
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Provisions |
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2.184 |
3.714 |
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Total Current Liabilities |
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30.787 |
25.063 |
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Net Current Assets |
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39.152 |
28.104 |
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MISCELLANEOUS EXPENSES |
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0.329 |
0.251 |
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TOTAL |
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47.317 |
35.964 |
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KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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3.39 |
3.54 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
2.27 |
2.12 |
LOCAL AGENCY
FURTHER INFORMATION
Metaflux
Products Private Limited has merged in 2000 with Metaflux Company Limited.
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Name of the company |
METAFLUX COMPANY PRIVATE LIMITED |
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Presented By |
S. D. BASU, Company Secretary I WTP |
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1) Date and description of instrument creating the change |
No instrument was executed, but mortgage was created by deposit of Title Deeds on 22.05.2002. [Two copies of recital dated 22.05.2002 are enclosed] [In the office of State Bank of India, Khardah, 24 Parganas [North], West Bengal] |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 19.540 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 |
The scope and benefit of creating mortgage by deposit of Title Deeds of the properties of the company as specified in the Schedule below are to create mortgage by deposit of Title Deeds under Section 79 of the Transfer of Property Act, 1882 and within the meaning of Section 58 [f] of the said Act to secure repayment of the sum of Rs. 19.540 millions granted by the Bank to the company under credit facility together with interest, commission, discount, costs and charges thereon Schedule Of Properties 1. A plot of land measuring Half share [undivided] of 1137.40 sq. ft. more or less situated and being premises No. 162, VIP Road, Scheme No. VIIM, 1st Floor, Kolkata – 54 within Kolkata Municipal Corporation, Thana Manicktala, registered in Book No. I, Volume No. 63 Pages 64 to 74 being No. 2407 for the year 1996 with the sub-Registry office Sealdah and District Registrar / Sub-Registrar office at Sealdah 2. A plot of land measuring Half share [undivided] 1137.40 sq. ft. more or less situated and being premises no. 162, VIP Road, Scheme No. VIIM, 1st Floor, Kolkata – 54, within Kolkata Municipal Corporation, Than Manicktala, registered in Book No. I, Volume No. 63, Pages 75 to 86 being No. 2408 for the year 1996 with the Sub-Registry office Sealdah and District Registrar /Sub-Registrar office at Sealdah Together with immovable properties and buildings structures, immovable plant and machinery which thereafter be erected or affixed to the or situated on the said immovable properties in favour of the bank as continuing security in both cases. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The borrower shall not do or allow anything which may prejudice the security Interest, commission, discount, costs and charges as may be current from time to time for the credit facility according to banking norms and RBI guidelines |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India Commercial Branch, Salt Lake, Plot No. X – 1, 8/1, Block – EP, Sector – V, Salt Lake Electronics Complex, Kolkata – 700091 |
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6) Date and brief description of instrument modifying the charge |
No instrument was executed, but mortgage was extended by constructive delivery and deposit of Title Deeds on 26.12.2003. [Two copies of Supplemental Recital dated 26.12.2003 are enclosed] [In the office of State Bank of India, Khardah Branch, 24 Parganas [North], West Bengal] |
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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 this modification, the overall limit is enhanced from Rs. 19.540 millions to Rs. 24.450 millions. Particulars of immovable properties and all other terms and conditions continue to remain as before in full force and effect |
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Name of the company |
METAFLUX COMPANY PRIVATE LIMITED |
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Presented By |
S. D. BASU, Company Secretary I WTP |
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1) Date and description of instrument creating the change |
Recital dated 26.03.2002 [I the office of State Bank of India, Khardah, 24 Parganas [North], West Bengal] As modified on 26.12.2003 and 08.01.2005 for Rs. 28.950 millions |
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2) Amount secured by the charge/amount owing on the securities of charge |
Overall limit : Rs. 19.540 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 |
The scope and benefit of creating mortgage by deposit of Title Deeds of the properties of the company as specified in the Schedule below are to create mortgage by deposit of Title Deeds under Section 79 of the Transfer of Property Act, 1882 and within the meaning of Section 58 [f] of the said Act to secure repayment of the sum of Rs. 19.540 millions granted by the Bank to the company under credit facility together with interest, commission, discount, costs and charges thereon Schedule Of Properties 1. A plot of land measuring Half share [undivided] of 1137.40 sq. ft. more or less situated and being Plot No. B – 22, in Nagpur Industrial Estate, situated at Digdah, registered in Book No. 1, being No. 4484 for the year 1990 with the Sub-Registry Office Nagpur and District Registrar / Sub-Registrar Office Nagpur Together with buildings, structures, immovable plant and machinery both present and future. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The borrower shall not do or allow anything which may prejudice the security Interest, commission, discount, costs and charges as may be current from time to time for the credit facility according to banking norms and RBI guidelines |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India Commercial Branch, Salt Lake, Plot No. X – 1, 8/1, Block – EP, Sector – V, Salt Lake Electronics Complex, Kolkata – 700091 |
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6) Date and brief description of instrument modifying the charge |
Memorandum for recording extension of mortgage by deposit of title deeds covering enhanced limits and / or creation of equitable mortgage on additional properties for existing limits and enhanced limits and additional facilities dated 31.10.2005 Memorandum for recording extension of mortgage by deposit of title deeds covering enhanced limits and / or creation of equitable mortgage on additional properties for existing limits and enhanced limits and additional facilities dated 31.10.2005 [Both in the office of State Bank of India, Khardah Branch, 24 Parganas [North], West Bengal] [Copy of each thereof enclosed] |
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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 this modification, the overall limit is enhanced from Rs. 28.950 millions to Rs. 37.232 millions. Particulars of immovable properties continue to remain as before and for the sake of clarity are also given hereunder. Lease deed for Rs. 0.240 million executed on 25.05.1990 for plot of land measuring 3427 sq. mt. plot no.B – 22, Nagpur Industrial Area, Book No. 1, Deed No. 4484 [P] for year 1990 with sub-registry office Hingna, Nagpur Plot No. 5 – J measuring an area of 30000 sq. ft. situated at Heavy Industrial Area Hathkhoj, Tehsil and District Durg C. G. Bhilai, Chhattisgarh All other terms and conditions continue to remain as before in full force and effect. |
WEBSITE DETAILS
For over
last two decades subject has evolved as a major player in manufacturing
products suitable for
Steel Plants and Foundry Industry to provide solutions for high quality
performance.
In India they are leaders in this field in terms of class, competence and
innovation, matching the exactitude of international standards. The company was
founded in 1982.
For the last twenty two years it has been a saga of growth, expansion and
achievement for them. One of their factories has been awarded IS0 9000-2001 for excellence. Their
aim is simple and consistent helping their customers to meet newer challenges
in the highly competitive industry of foundry. And they have been successful in
their aim as yet, though there are still miles to go.
State of art technology, economy, high yields and reduced scrap are some of
their basic features.
Subject
is a name valued for trust and performance in Indian Steel Plants & Foundry
Industry. Their wide range of manufacture and supply consist of products
including Tundish Boards, Hot Tops. Nozzle Filling Compound for Ladle and
Tundish, EBT Filling Mass, Insulating Ladle Cover, Tundish Cover, Ramming Mass,
Refractory Packing Material, Sleeves, Refractory Paint and Coating.
Subject caters to the needs of Steel Plants and Foundries
throughout India, particularly in the Eastern and Western regions.
The company has made its presence felt in the global
market for quite sometime, meeting export orders regularly to the neighbouring
countries of South
East Asia and Africa.
Apart from manufacturing, they happen to be one of
the leading indenting agents in India for different minerals, metals and
Graphite Electrode Refractory Products, representing some of the most reputed
and leading names world wide.
They manufacture
Cold Tundish Boards (Silica base, Magasite & Duplex), Preheatable Tundish
Boards, Hot Tops, Anti piping Compound, EBT Filling Mass, Nozzle opening
Compound (Cr-base & Zr-Base), Ramming Mass, Monolithic, Castable,
Refractory Packing Material.
CONTINUOUS CASTING PRODUCTS
ISOLIN
Insulating disposable boards used to form a inner lining for continuous casting
tundishes. This avoids the lengthy preheating process thereby helps in
significant energy saving and refractory saving and improves the quality of
steel by providing fresh ISOLIN lining every time the tundish is changed.
ISOLIN also helps easy and quick deskulling of the tundish at the completion of
the casting. Thus it reduces the tundish turn around time significantly and in
turn helps to improve the shop productivity. ISOLIN boards are available in
acidic, basic or duplex variety depending upon the need of individual steel
maker.
BENEFITS OF INSULIN SYTEM
ENERGY SAVING - No preheating of tundish is required 15-20 minutes
warming up of nozzles with small burner.
REDUCED REFRACTORY CONSUMPTION - Minimises the need to patch &
repair of tundish refractory lining thus ISOLIN system reduce refractory
consumption.
LESS TUNDISH INVENTORY - Reduction of tundish turn around time which
results in reduction of number of tundishes.
CONSISTENT METAL TEMPERATURE - Insulating properties of the ISOLIN
systems results in consistent temperature of the liquid steel.
EASY DUMPING - After casting, a disposable soft residue left by ISOLIN
boards helps in easy dumping on a turnover station. Hence use of oxgen lance or
pneumatic hammers is eliminated.
HIGH YIELDS - ISOLIN system minimise skull formation thus improves the
yield of cast steel.
BETTER ENVIRONMENT - Lower tundish shell temperatures helps to have
cooler surrounding for the operation.
ISOPACK
Refractory packing mass used along with ISOLIN tundish boards. Helps in good
sealing of the joints between the side and bottom ISOLIN boards thus eleminates
scope of liquid metal penetration through the joints. ISOPACK becomes a soft
mass after casting thus helps in easy deskulling.
ISOSEAL
Refractory air-setting material supplied in ready to use form. ISOSEAL used for
sealing the joints between ISOLIN side boards liquid metal leakage behind the
ISOLIN boards.
COVEREX
Insulating powder as cover of the liquid steel exposed surface in tundish to
reduce heat loss due to radiation. COVEREX is also applicable to insulate the
surface of liquid steel ladles.
METAFIL- NOZZLE FILLING COMPOUND
METAFIL-LD
is a carefully graded refractory nozzle filling compound which can be made
tailor made as per requirement of customer's need for steel transfer ladle with
slide gate system. As it posses selected granulometry and high refractoriness,
it does not sinter when in contact with molten steel around 1600 °C temperature
with high ferrostatic head when kept in ladle nozzle-well cavity. Thus it
results into free flowing of METAFIL-LD when slide gate is opened and it comes
out freely or with minor oxygen lancing establishing a very smooth stream from
the ladle. Depending on nozzle diameter as well as holding time of molten metal
in ladle, granulometry of nozzle filling compound and chemical composition of
refractory filler change.
METAFIL-TD
is a graded carbon based material. It fills the cavity of tundish nozzle. This
compound allows metal to follow out of tundish smoothly when slide gate is
opened.
HOT TOPPING SYSTEM
METATOP
For standard applications METATOP hot topping systems are supplied as single
piece, 4 pieces and 8 pieces assemmles comprising 4 side slabs and 4 corner
pieces for medium and large size ingots varying from about 1 ton to over 25
tons. Different designs like " Inserted type", "Super imposed
type", "Over-imposed type", etc, are available to suit various
plant conditions.
METATOP
Ø
hot topping systems increase the yield (Ingot to Bloom / Billet)
Ø
a low density products and hence can be handled easily even for large
ingots.
Ø
hot toping systems are dimensionally accurate and very strong hence
chances of breakages during transportation and storage are
negligible.
Ø
Hot topping systems are tailor made to fit each ingot mould size.
COVEREX
Exothermic and Insulating anti-piping compounds are used with METATOP hot tops
for killed steel ingots. These reduce loss of heat the top surface of the
ingots and thereby delay the solidification of the head portion which helps
feeding the shrinkage cavities.
Beside imparting sufficient heat into the hot top portion in initial stages
COVEREX after burning expands significantly thus desirable insulation during
the subsequent stages of solidification.
METASEAL
Air setting compound supplied in ready to use form applied to seal the joints
between the mould and hot tops. The fast setting characteristic of the product
helps in giving tight fit to the entire system and prevents it from floatation,
boiling etc.
They manufacture Sleeves, Ziron base,
Magnisite base & Graphite base paint in both water & alcohol base, Stag
Cogagultors. Core joint gur & paste.
FEEDING AIDS
RISEREX / RISERIN
Exothermic
/ Insulating sleeves for efficient feeding of iron & steel castings.
RECOMMENDED USE
Riserex
/ Riserin sleeves are suggested to use as risers of iron and steel castings to
help in directional solidification and in turn to achieve higher casting
yields.
ACHIEVABLE BENEFITS
Low Density and Low Thermal Conductivity Of Riserex / Riserin minimise loss of
heat from risers.
High Refractoriness Of Riserex / Riserin helps it to prevent metal penetration
and fusion, gives a clean riser surface.
Low Specific Heat Of Riserex helps it to burn with very little heat.
Toughess Of Riserex / Riserin helps it to withstands impact while ramming &
jolting of the mould.
Yield With Riserex / Riserin is significantly higher due to very low feed metal
requirement.
Various Sizes Of Riserex / Riserin sleeves are available to meet need of
prefabricated shapes.
Blind Riserex helps when antipiping compound application is not possible due to
accessibility problem.
INSTRUCTIONS FOR USE
Riserex Blind sleeves are to be used as it is.
Reserex / Riserin Open sleeves should be used along with Coverex antipiping
compound to avoid radiation losses from the top surface.
STANDARD PACKINGS
Sleeves (with polythene cover) packed in Card Board Boxes
Stores in dry cool place.
Range of Refractory Dressings used in Ferrous
and Non-Ferrous Foundries
METAPAINT - 100ZW
A water based thixotropic, ready to use Zircon
wash, excellent in application on moulds or core made by sand binder system
like, oil sand, cement sand and resin bonded sand. It gives excellent surface
finish with no Steel and heavy section iron casting.
METAPAINT-MA
A thinner based magnesite dressing in powder or ready to use form, specifically
used for manganese steel castings. It is applied by brush or spray on sand
moulds or cores made by sand binder system like green sand, silicate sand, dry
sand and cement sand moulding method.
METAPAINT-GA
A thinner based graphite wash available both in powder or ready to use form,
easier to remix after long storage, very suitable for iron, heavy section iron
castings, copper based alloys and aluminium based by brush or spray on moulds
and cores made by green sand, silicate sand, oil sand, dry sand and cement sand
moulding methods.
METAPAINT-200ZA
A thinner based Zircon Wash in ready to use form. It is excellent in
application by brush, dip, flow and sprays method on moulds and cores made by
green sand or silicate sand, iron sand, dry sand, cement sand moulding method.
It gives excellent surface finish for steel and heavy section iron castings.
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.44.13 |
|
UK
Pound |
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.56.99 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
|