%20LIMITED%2008-Jan-2007_files/image002.jpg)
MIRA INFORM REPORT
|
Report Date : |
08.01.2007 |
IDENTIFICATION DETAILS
|
Name : |
COLOUR ROOF (INDIA)
LIMITED |
|
|
|
|
Registered Office : |
B-1/1, Mayour
Ma-Krupa Co-operative Housing Society, Off Gokhale School, Shimpoli Road,
Borivali (West), Mumbai – 400 092, Maharashtra, India |
|
|
|
|
Country
: |
India |
|
|
|
|
Financials
(as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
17.05.2000 |
|
|
|
|
Com. Reg. No.: |
11-126598 |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U27200MH2000PLC126598 |
|
|
|
|
TAN
No.: [Tax
Deduction & Collection Account No.] |
MUMC08057A |
|
|
|
|
Legal Form : |
A closely held
public limited liability company. |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing, processing, machining, pressing, forging, grinding,
designing and fabricating of all types of metal components shapes, section,
profiles, structures, whether ferrous or non-ferrous for building whether
commercial or residential, industrial sheds, industrial structures, chemical
plants, power plants, cement plants, petrochemical plants, oil refineries and
other types of plants including manufacturing of roof & wall cladding
profiles, decking profiles made out of galvanised steel, pre-coated
galvanised steel, plain galvalume steel
sheets, pre-coated galvalume steel sheets, copper, zinc, aluminium,
pre-coated aluminium coils or sheets of any other type of ferrous or
non-ferrous metals, cold rolled, etc. |
RATING
& COMMENTS
|
MIRA’s 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 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established company having satisfactory track. Directors are reported as
experienced and respectable businessmen. Trade relations are fair. Business
is active. Payments are correct and as per commitments. The company can be
considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
B-1/1, Mayour
Ma-Krupa Co-operative Housing Society, Off Gokhale School, Shimpoli Road,
Borivali (West), Mumbai – 400 092, Maharashtra, India |
|
Tel. No.: |
91-22-26904411 (Hunting Line) |
|
Fax No.: |
91-22-28991854 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
B- 601, Elegant
Business Park, MIDC Road Number 2, J B Nagar, Andheri (East), Mumbai- 400059 |
|
Tel. No.: |
91-22-40957000
(Hunting Line) |
|
Fax No.: |
91-22-40957100 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
J – 16, MIDC, Opp.
Indal Taloja, Dist. Raigad, Maharashtra, India |
|
Tel. No.: |
91-22-27402236 /
2227 / 27414229 / 27904229 |
|
Fax No.: |
91-22-27411821 |
|
|
|
|
Factory 2 : |
Plot No. C-26/27,
Sipcot Industrial Growth Centre, Perundarai – 638052, District – Erode, Tamil
Nadu, India |
DIRECTORS
|
Name |
Mr. Kishore Laxmidas Thakkar |
|
Designation |
Director |
|
Address |
143,144,145, Vasukamal Tower
Co-operative Housing Society Limited, Devidas Extension Road, Borivali (West)
, Mumbai – 400103 |
|
Date
of Birth |
05.10.1937 |
|
Date
of Appointment |
17.05.2000 |
|
|
|
|
Name |
Mr. Sushila Kishore Thakkar |
|
Designation |
Director |
|
Address |
143,144,145, Vasukamal Tower
Co-operative Housing Society Limited, Devidas Extension Road, Borivali (West)
, Mumbai - 400103 |
|
Date
of Birth |
21.07.1939 |
|
Date
of Appointment |
18.11.2004 |
|
|
|
|
Name |
Mr. Bhavin Kishore Thakkar |
|
Designation |
Director |
|
Address |
14th floor, Ragunath
Towers Co-operative Housing Society, Devidas Extension Road, Borivali (West),
Mumbai – 400103 |
|
Date
of Birth |
26.06.1964 |
|
Date
of Appointment |
17.05.2000 |
|
|
|
|
Name |
Mr. Jubin Kishore Thakkar |
|
Designation |
Director |
|
Address |
143,144,145, Vasukamal Tower
Co-operative Housing Society Limited, Devidas Extension Road, Borivali (West)
, Mumbai – 400103 |
|
Date
of Birth |
12.09.1970 |
|
Date
of Appointment |
17.05.2000 |
Key
Executive
|
Name |
Mr. B.V. Ram |
|
Designation |
General Manager |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
|
No.
of Shares |
|
|
|
|
|
Mrs. Sushila K. Thakkar |
|
211414 |
|
Mr. Bhavin K. Thakkar |
|
305020 |
|
Mr. Jubin K. Thakkar |
|
595220 |
|
Mrs. Manisha B. Thakkar |
|
278894 |
|
Mrs. Parul J. Thakkar |
|
158894 |
|
Mr. Mayank Rameshchandra Mayank |
|
20 |
|
Master Anuj Bhavin Thakkar |
|
7500 |
|
Baby Miloni Bhavin Thakkar |
|
7500 |
|
Master Viraj Jubin Thakkar |
|
7500 |
|
Mrs. Sheela Sabastian Thoppil |
|
15000 |
|
Amzel Infotech Private Limited |
|
668000 |
|
Boral Infotech Private Limited |
|
630000 |
|
Tanjore Trade Place Private Limited |
|
479000 |
|
Pre-Feb Dwelling Private Limited |
|
60000 |
|
Santoor Impex Private Limited |
|
315312 |
|
KLT Automotive and Tubular Products
Limited |
|
60000 |
|
|
|
|
BUSINESS
DETAILS
|
Line of Business : |
Subject is engaged
in manufacturing, processing, machining, pressing, forging, grinding,
designing and fabricating of all types of metal components shapes, section,
profiles, structures, whether ferrous or non-ferrous for building whether
commercial or residential, industrial sheds, industrial structures, chemical plants,
power plants, cement plants, petrochemical plants, oil refineries and other
types of plants including manufacturing of roof & wall cladding profiles,
decking profiles made out of galvanised steel, pre-coated galvanised steel,
plain galvalume steel sheets,
pre-coated galvalume steel sheets, copper, zinc, aluminium, pre-coated
aluminium coils or sheets of any other type of ferrous or non-ferrous metals,
cold rolled, etc. |
||||||
|
|
|
||||||
|
Products : |
+
Steel Profiles (Trapexoidal &
Corrugated) +
Steel Shapes & Section
|
||||||
|
|
|
GENERAL
INFORMATION
|
Customers: |
Ř
Era Constructions India Limited, New
Delhi (Colour Roof India Limited Deckspan) Ř
Hindustan Steelworks Constructions
Limited (Deck and Cladding) Ř
Alstom Power India Limited, Kolkata
(Colour Coated Galvalume) Ř
Hindustan Steelworks Constructions Limited
(Deck and Cladding)
|
|
|
|
|
No. of Employees : |
About 30 |
|
|
|
|
Bankers : |
Andheri Corporate Banking Branch,
Andheri (West), Mumbai – 400 058, Maharashtra, India
|
|
|
|
|
Facilities
: |
Rs. 70.000 millions
dated 16.09.2002 against all stock of raw materials, sedmi-finished and
finished goods, stores & spares, etc. Rs. 58.000 millions dated
29.12.2000 against hypothecation of plant & machinery, stocks and book
debts. |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Surya Associates Chartered
Accountants 103, Deepika, Plot
No. 37, Gokhale Road, Dahanukar Wadi, Kandivali, Mumbai – 400067,
Maharashtra, India |
|
|
|
|
Parent Company : |
ç
Thakkarsons Auto Ancillary India
Limited -
C – 3/14, Jeevan Sindhu, Jeevan Bima
Nagar, Borivali (West), Mumbai – 400 103, India Tel. No.: 91-22-8953908 -
Manufacturers of tubular chassis for
cars and MUVs, E R W Pipes and Galvanised Sheets -
Paid-Up Capital Rs. 49.200 millions -
Annual Turnover Rs. 297.100 millions -
Net Worth Rs. 122.500 millions |
|
|
|
|
Memberships : |
National Roofing
Contractors Association, USA |
CAPITAL
STRUCTURE
Authorised Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85,00,000 |
Equity Shares |
Rs.
10/- |
Rs.85.000
Millions |
Issued, Subscribed & Paid-up
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
82,99,274 |
Equity Shares |
Rs.
10/- each |
Rs.
82.993 Millions |
FINANCIAL DATA
[all
figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
82.993 |
37.993 |
8.994 |
|
2) Share Application Money |
0.000 |
18.350 |
8.990 |
|
2] Reserves & Surplus |
131.086 |
24.749 |
18.444 |
NETWORTH
|
214.079 |
81.092 |
36.428 |
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
313.146 |
271.457 |
76.221 |
|
2] Unsecured Loans |
77.106 |
50.427 |
43.431 |
TOTAL BORROWING
|
390.252 |
321.884 |
119.652 |
|
DEFERRED TAX LIABILITIES |
17.175 |
10.077 |
5.138 |
|
|
|
|
|
TOTAL
|
621.506 |
413.053 |
161.218 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
465.821 |
87.125 |
63.132 |
|
Capital work-in-progress |
1.547 |
197.353 |
14.200 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
179.496 |
136.877 |
81.735 |
|
Sundry Debtors |
63.638 |
47.554 |
40.571 |
|
Cash & Bank Balances |
28.654 |
22.900 |
11.937 |
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
Loans & Advances |
47.162 |
17.488 |
4.058 |
|
Total Current Assets |
318.950 |
224.819 |
138.301 |
Less: CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
Current Liabilities |
158.486 |
93.168 |
53.541 |
|
Provisions |
7.286 |
3.115 |
0.954 |
Total
Current Liabilities
|
165.772 |
96.283 |
54.495 |
|
Net Current Assets |
153.178 |
128.536 |
83.806 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.960 |
0.040 |
0.080 |
|
|
|
|
|
TOTAL
|
621.506 |
413.053 |
161.218 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover
[including other income]
|
438.257 |
378.410 |
207.884 |
|
|
|
|
|
Profit/(Loss)
Before Tax
|
37.526 |
24.892 |
12.664 |
Provision for
Taxation
|
7.635 |
6.936 |
5.441 |
Profit/(Loss)
After Tax
|
29.891 |
17.956 |
7.223 |
|
|
|
|
|
Total Expenditure
|
400.731 |
353.518 |
191.846 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
|
|
6.82 |
4.74 |
|
|
|
|
|
|
Net
Profit Margin(PBT/Sales)
|
|
|
8.56 |
6.57 |
|
|
|
|
|
|
Return
on Total Assets(PBT/Total Assets}
|
|
|
4.78 |
7.97 |
|
|
|
|
|
|
Return
on Investment (ROI)(PBT/Networth)
|
|
|
0.17 |
0.30 |
|
|
|
|
|
|
Debt Equity Ratio(Total Liability/Networth)
|
|
|
2.59 |
5.15 |
|
|
|
|
|
|
Current Ratio(Current Asset/Current Liability)
|
|
|
1.92 |
1.74 |
LOCAL
AGENCY FURTHER INFORMATION
HISTORY
Subject was incorporated on 17th May 2000 at
Mumbai in Maharashtra having Company Registration Number 126598.
Subject was promoted by Thakkarsons Auto Ancillary India
Limited (TAAL), a company that has, in span of only seven years, established
itself as a BENCHMARK organisation in the development and manufacture of
tubular chassis for cars and MUVs.
TAAL has been the first and to date the only chassis
manufacture in India to adopt, install and institute the AUTOPHOTORETIC coating
process or the prevention of corrosion on chassis.
The company is born out of the conviction that metal
cladding, being a chief contributor to this wastage and loss, needs a new
dimension and users must be given the choice of better and cost effective
alternatives for their cladding.
The company is backed by technical resources in cladding and
fixing from USA, Singapore, U.K. and Australia.
The company has stepped into this scenario as an
organisation dedicated to coated steel and coloured steel sheeting. The company
now offers the wide range of quality-coloured roofing and side cladding, with
complete creative freedom to match the roofs to the colour of the vision.
The superior appearance and excellent performance of the
company's colour coated steel sheets allows to the company's roofing visible.
With a wide variety of panel widths and seam effects, it offers the company's
opportunity to use roofs as a design feature of the company's plan rather than
just an element that is meant to keep out water from the structure.
The company seeks to set up benchmark standard in CRM
(Customer Relation Management) in India through innovative customer support
integrated with its ERP system. Constant updates with live process views will
be available against orders at the company's Website. The status of
orders-position of manufacture, despatch and even despatch details shall be
made available over the telephone through 24 hours for those without access to
the web. Enabling technology is already under implementation. Pre-sales service
includes providing dedicated interactive software (to all registered users of
the company's products) for quick, trouble-free and accurate calculation for
the sizes and quantities of sheet with feeding of few key data.
Such training for the company is not limited to "does
and don'ts" in literature only. The company is the only roofing
manufacturer in India to had become a member of the National Roofing
Contractors Association (NRCA), USA.
The superior appearance and excellent performance of the
company’s colour coated steel sheets allows roofing visible with a wide range
of panel widths and seam effects.
Subject is the only company in India today dedicated
exclusively to cladding and is the most focussed organisation in cladding
profiles.
The company’s metal claddings are available in a variety of
profiles and formations for use in commercial, industrial or residential
structures. It is having wide variety
of factory-applied coatings colours.
The company has set
up state-of-art manufacturing facilities to deliver the range and quality
roofing solutions. This is backed by a commitment to develop and maintain
efficient customer support.
The company offers a wide range of quality-coloured roofing
and side cladding.
It offers modern and
international current profiles in colour coated steel with materials sourced
from India and foreign manufacturers of pre-coated sheets. It offers separate
sheets for roof and side cladding in widths that cover more than any other
contemporary product in India. It also offers pre-formed accessories in
complete range.
It is in trade terms with:
·
BHP Steel, Australia
·
Bethlehem Steel Corporation (BIEC), USA
Its products range include:
·
Polyester Colour
·
Galvalume Aluminium-Zinc Alloy Coated
Steel
·
Super Polyester Colour
·
BHP Zincalume
·
Colorbond
·
Sidings
·
Standard Accessories
The company’s installed capacity of metal profiles, shapes
and sections is 21000 MT per annum and its production of steel profiles
(Trapezoidal and Corrugated) and Sections was 2025 MT during the year under
report.
During the year under
report the company had achieved turnover of Rs. 75.922 millions slowly and
steadily the company has penetrated all geographical region of the country,
with the network of trusted dealers, brands, officers and authorised
management, representatives are putting their efforts for increasing the
turnover and profitability of the company.
In the first year of its commercial production, the company had made
very well presence in the International market. The corrugated roofing sheets had been exported to various
international markets. The company has
exported its production in UAE, West African and Latin American Countries. The country expects a quantum jump in the
turnover for the next year.
The company’s fixed
assets of important value includes land & site development, building, plant
& machinery, electrical installation, furniture & fittings, office equipments
and vehicles.
About Colour Roof [India] Ltd. (CRiL):
The Genesis
Colour Roof India Limited is the only company in India today
dedicated exclusively to manufacture of roof and wall cladding profiled sheets,
and is the most customer focussed organisation in cladding profiles.
Colour Roof India Limited has been promoted by KLT
Automotive and Tubular Products Limited, a company that has, in span of only
seven years, established itself as a BENCHMARK organisation in the development
and manufacture of tubular chassis for cars and MUVs. KLT Automotive and
Tubular Products Limited has been the first, and, to date, the only chassis
manufacture in India to adopt, install and institute the AUTOPHORETIC coating
process for the prevention of corrosion on chassis. KLT Automotive and Tubular
Products Limited is also the trendsetter in use of advanced robotics in the
assembly and welding of chassis, as well as being the first chassis manufacture
in India to set and attain QS 9000 process certification for its assembly and
manufacture of tubular chassis.
KLT Automotive and Tubular Products Limited firmly believes
that it has a role and responsibility in arresting the colossal resource
wastage and National loss of over Rs.1000 Crore that occurs due to corrosion in
steel every year.
Colour Roof India Limited is born out of the conviction that metal cladding,
being a chief contributor to this wastage and loss, needs a new dimension and
users must be given the choice of better and cost effective alternatives for
their roof and wall cladding.
Colour Roof India Limited is backed by technical resources in cladding and
fixing from USA, Singapore, UK and Australia.
Colour
Roof India Limited - Values
Colour Roof India Limited - The Freedom to Choose
Colour
Roof India Limited - Business Policy and Objectives
%20LIMITED%2008-Jan-2007_files/image003.gif){kind=small}
|
Name of the company |
COLOUR ROOF (INDIA) LIMITED |
|
1) Date and description of instrument
creating the change |
Agreement
of Equitable mortgage or mortgage of property by depositing the title deeds
for immovable properties dated 28th August, 2006 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs
810.524 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 |
Equitable
mortgage or mortgage of property by depositing the title deeds for immovable
properties |
|
4) Name and Address and description
of the person entitled to the charge. |
Bank of
India Consortium Andheri
Corporate Banking Branch M.D. I. Building, 28,S.V.Road, Andheri (West),
Mumbai – 400058, Maharashtra, India |
|
5) Date and brief description of instrument modifying the charge |
28.08.2006 |
|
Name of the company |
COLOUR ROOF (INDIA) LIMITED |
|
Presented By |
BANK OF INDIA ANDHERI CORPORATE
BANKING BRANCH, ANDHERI (WEST), MUMBAI – 400058 |
|
1) Date and description of instrument
creating the change |
Hypothecation
cum loan agreement of plant and machinery, stocks and book debts dated
27.01.2005 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs.
14.000 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]
Hypothecation of all tangible movable machineries and plant (both present and
future) such as oven extension, smart control system, tension leveler and
incinerator system whether installed or not and whether lying loose or at
sight or in transit ar acquired subsequently or which may at any time during
the continuance of this security being installed or lying loose or in case or
being in or upon or about the borrower’s premises, godowns at Taloja. 2]
Hypothecation of all tangible movable properties, assets, stock whatsoever
nature of the borrower (both present and future) and including but without
prejudice to the generality of the forgoing all the stocks in process of the
borrower wheresoever situate at Taloja. 3] All
the present and future book debts, outstanding moneys receivables, claims,
bills which are now due or which may at any time or hereafter during the
continuance of this security become due and owing to the borrower. |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
Interest
will be charged @ 1.25% p.a. over BPLR rate with a minimum @ 12%p.a. shall be
charged at Monthly rests. 1] Limits covered Term Loan
$s. 14.000 Millions 2] Term
loan III to be repaid 20 Quarterly installments of Rs 0.700 Millions each
commencing from quarter ending December 2005. 3] The
charge shall rank pari passu among participating bank i.e. Queens Road
branch, and Corporation Bank, IFB Fort, Mumbai vide their letter dated
25.01.2005 and 19.01.2005 respectively (Copy enclosed) |
|
5) Name and Address and description
of the person entitled to the charge. |
Bank of
India Andheri
Corporate Banking Branch, MDI
Building, 1st Floor, 28, S V Road, Andheri (West), Mumbai – 400058 |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
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. |
N.A. |
|
Name of the company |
COLOUR ROOF (INDIA) LIMITED |
||||||
|
Presented By |
JOINTLY BY COMPANY AND CHARGE
HOLDER |
||||||
|
1) Date and description of instrument
creating the change |
Dated
22.09.2004 Memorandum
deed of Hypothecation of movable machinery and plant to secure term loan (all the
above agreement constitute a single charge) |
||||||
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs.
110.000 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 |
Charge
(present and f future ) in favour of the bank for the due repayment by the
company to the bank on demand at any time payable by the company to the bank
for the aforesaid credit facility. Hypothecation
and charges by way of first pari passu charge to and in favour of the banks
all movable machinery and plant acquired by way of balancing equipments
together with all accessories, stores and spares relating thereto, now
belonging to or hereafter to belong to the borrower (both present and future)
and whether installed or not and whether lying loose or in case or which may
at any time hereafter during the continuance of this security be installed or
lying whether loose or in case or being in or upon or about the borrowers at
plot no 42/4, 42/4c, 44/1a,44/1b,
44/2, 44/3b, 44/4, 45/1 at village dhekhu, taluka khalpur district raigad in
the state of maharashtra or wherever else the same may be or in case of
transit to the borrower. EMG of
all that piece of land situated at plot no. 42/4, 42/4c, 44/1a,44/1b, 44/2,
44/3b, 44/4, 45/1, AD measuring 1.94 hector or 194.400 square meters within
village dhekhu, taluka khalapur, district raigad, with all building and
structure their on and the all plant and machinery attached to the earth or
parmently fastened to anything attached to the earth. |
||||||
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
Rate of
Interest 12.50%p.a. subject to change corporation bank term loan repayable in
20 quarterly installments, other terms and conditions as per agreement
attached and as per sanction letter of the bank. |
||||||
|
5) Name and Address and description
of the person entitled to the charge. |
Corporation
Bank IFB
Branch, Bharat House, Bombay Samachar Marg, Fort, Mumbai - 400001 |
||||||
|
6) Date and brief description of instrument modifying the charge |
N.A. |
||||||
|
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. |
N.A. |
|
Name of the company |
COLOUR ROOF (INDIA) LIMITED |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Presented By |
JOINTLY BY COMPANY AND CHARGE
HOLDER |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1) Date and description of instrument
creating the change |
1]
Working capital consortium agreement dated 16th September, 2002. 2] Joint
deed of hypothecation dated 16th September, 2002. 3] Inter
se agreement dated 16th September, 2002. (these
three agreement together constitute a single charge) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount
owing on the securities of charge |
Rs.
70.000 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 |
All and
singular borrower’s stock of raw materials, semi-finished goods, stores and
spares not relating to the plant and machinery (consumables stores and spares
) , bills receivables, book debts and all other movable of the borrower
(excluding such movables as are permitted by the said bank from time to time
) but including documents of title to goods and other assets, such as
outstanding moneys, receivables, including receivables by way of cash
assistance and /or cash including under the cash incentive scheme or any
other scheme , claims by way of refund of customs / excise duties the duty
drawback credit scheme or any other scheme bills, invoices, documents,
contracts, engagements, securities, investments and right both present and
future, of the borrower being and lying in the borrower’s premises or godowns. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
Interest
@ 4% over PLR rate with a minimum 16% p.a. Limits Covered
Charge
shall rank Pari Passu amongst participating banks. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
5) Name and Address and description
of the person entitled to the charge. |
1] Bank
of India Andheri
Corporate Banking Branch Andheri
(West), Mumbai – 400058 2] Indian
Bank Kambliwadi,
Tejpal Raod, Vile Parle (East), Mumbai |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
1] third
supplement working capital consortium agreement dated 27.10.2004 2] third
supplement joint deed of hypothecation dated 27.10.2004 (these
two agreement together constitute a single charge) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 above
supplement agreement dated 27.10.2004. hypothecation on stocks and book debts
has now interchanged of various credit facilities granted by the bank
detailed as under
·
Interest
@ 2.25% p.a. over BPLR rate with a minimum of 12% p.a. for bank of India and
interest @ 4%p.a. over BPLR rate with a minimum of 15 % p.a. for Indian bank
shall be charged.
Earlier
charge was modified on
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name of the company |
COLOUR ROOF (INDIA) LIMITED |
|
Presented By |
BANK OF INDIA ANDHERI CORPORATE
BANKING BRANCH, ANDHERI (WEST), MUMBAI – 400058 |
|
1) Date and description of instrument
creating the change |
Hypothecation
cum loan agreement of plant and machinery, stocks and book debts dated
27.01.2005 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs.
14.000 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]
Hypothecation of all tangible movable machineries and plant (both present and
future) such as oven extension, smart control system, tension leveler and
incinerator system whether installed or not and whether lying loose or at
sight or in transit ar acquired subsequently or which may at any time during
the continuance of this security being installed or lying loose or in case or
being in or upon or about the borrower’s premises, godowns at Taloja. 2]
Hypothecation of all tangible movable properties, assets, stock whatsoever
nature of the borrower (both present and future) and including but without
prejudice to the generality of the forgoing all the stocks in process of the
borrower wheresoever situate at Taloja. 3] All
the present and future book debts, outstanding moneys receivables, claims,
bills which are now due or which may at any time or hereafter during the
continuance of this security become due and owing to the borrower. |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
Interest
will be charged @ 1.25% p.a. over BPLR rate with a minimum @ 12%p.a. shall be
charged at Monthly rests. 1] Limits covered Term Loan
$s. 14.000 Millions 2] Term
loan III to be repaid 20 Quarterly installments of Rs 0.700 Millions each
commencing from quarter ending December 2005. 3] The
charge shall rank pari passu among participating bank i.e. Queens Road
branch, and Corporation Bank, IFB Fort, Mumbai vide their letter dated
25.01.2005 and 19.01.2005 respectively (Copy enclosed) |
|
5) Name and Address and description
of the person entitled to the charge. |
Bank of
India Andheri
Corporate Banking Branch, MDI
Building, 1st Floor, 28, S V Road, Andheri (West), Mumbai – 400058 |
|
6) Date and brief description of instrument modifying the charge |
Supplement
Hypothecation cum loan agreement dated 10.02.2005 |
|
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
supplement hypothecation cum loan agreement dated 10.02.2005. hypothecation
of plant and machinery, stocks and book debts has now increased from Rs 14.000 Millions to 50.000 Millions to
secure additional term loan facility of Rs 36.000 Millions as under : (Rs. In
Millions) Limits Covered Existing Limit Modified Limit Term
Loan Rs 14.000 Rs 50.000
|
|
Name of the company |
COLOUR ROOF (INDIA) LIMITED |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Presented By |
JOINTLY BY COMPANY AND CHARGE
HOLDER |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1) Date and description of instrument
creating the change |
1]
Working capital consortium agreement dated 16th September, 2002. 2] Joint
deed of hypothecation dated 16th September, 2002. 3] Inter
se agreement dated 16th September, 2002. (these
three agreement together constitute a single charge) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs.
70.000 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 |
All and
singular borrower’s stock of raw materials, semi-finished goods, stores and
spares not relating to the plant and machinery (consumables stores and spares
) , bills receivables, book debts and all other movable of the borrower
(excluding such movables as are permitted by the said bank from time to time
) but including documents of title to goods and other assets, such as
outstanding moneys, receivables, including receivables by way of cash
assistance and /or cash including under the cash incentive scheme or any
other scheme , claims by way of refund of customs / excise duties the duty
drawback credit scheme or any other scheme bills, invoices, documents,
contracts, engagements, securities, investments and right both present and
future, of the borrower being and lying in the borrower’s premises or
godowns. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
Interest
@ 4% over PLR rate with a minimum 16% p.a. Limits Covered
Charge
shall rank Pari Passu amongst participating banks. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
5) Name and Address and description
of the person entitled to the charge. |
1] Bank
of India Andheri
Corporate Banking Branch Andheri
(West), Mumbai – 400058 2] Indian
Bank Kambliwadi,
Tejpal Raod, Vile Parle (East), Mumbai |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
1] second
supplement working capital consortium agreement dated 28.04.2004 2] third
supplement joint deed of hypothecation dated 28.04.2004 (these
two agreement together constitute a single charge) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 above
supplement agreement dated 28.04.2004. hypothecation on stocks and book debts
has now increased from Rs 99.000 Millions to 153.100 Millions to secure
varius credit facilities granted by the bank detailed as under
·
Interest
@ 4% p.a. over PLR rate with a minimum of 14.75% p.a. for bank of India and
for Indian Bank interest @ 15%p.a. shall be charged.
Earlier
charge was modified on
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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.44.42 |
|
UK Pound |
1 |
Rs.85.79 |
|
Euro |
1 |
Rs.57.80 |
SCORE
& RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
45 |
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 |
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 |