MIRA
INFORM REPORT
|
Report Date : |
29.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
VA
TECH ESCHER WYSS FLOVEL LIMITED |
|
|
|
|
Registered Office : |
Plot No. 57, Sector
27-C, 13/1 Mathura
Road, Faridabad – 121003, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.12.2005 |
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|
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|
Date of Incorporation : |
03.04.1976 |
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|
|
|
Com. Reg. No.: |
05-8141 |
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|
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|
CIN No.: [Company
Identification No.] |
U29119DL1976PLC008141
/ U99999HR1976PLC034599 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
RTKV00751C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACF0010A |
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|
|
|
Legal Form : |
Closely
Held Public Limited Liability Company |
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|
|
|
Line of Business : |
Engineering
Procurement and Construction Contracts for Hydro Power Plants. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
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|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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|
Comments : |
Financial
position of the company can be regarded as moderate having substantial
accumulated losses. Trade relations
are fair. Payments are usually
correct and as per commitments. The
company can be considered for normal business dealings at usual trade terms
and conditions, with some caution. |
LOCATIONS
|
Registered Office : |
Plot No. 57, Sector
27-C, 13/1 Mathura
Road, Faridabad – 121003, Haryana, India |
|
Tel. No.: |
91-129-2274319 |
|
Fax No.: |
91-129-2274320 |
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E-Mail : |
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|
Website : |
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|
Head
Office : |
Plot No. 57, Sector
27-C, 13/1, Mathura Road, Faridabad – 121 003, Haryana, India |
|
Tel.
No.: |
91-129-2274319 |
|
Fax
No.: |
91-129-2274320 |
|
|
|
|
Factory
: |
49/5, Mathura Road, Village Prithala, Tehsil Palwal – 121 102, Haryana |
|
Tel.
No.: |
91-1275-262293 |
DIRECTORS
|
Name : |
Late
Mr. Raj Nath Kar |
|
Designation : |
Chairman
|
|
Address : |
M –
27, Greater Kailash – II, New Delhi – 110048 |
|
Date of Birth/Age : |
21.02.1928 |
|
Date of Appointment : |
03.04.1976 |
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Date of Ceasing : |
30.09.1998 |
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|
|
|
Name : |
Mr.
Maharaj Kar |
|
Designation : |
Managing
Director [w.e.f. 30.11.1995] |
|
Address : |
M –
27, Greater Kailash – II, New Delhi – 110048 |
|
Date of Birth/Age : |
01.09.1950 |
|
Date of Appointment : |
03.04.1976 |
|
Qualification : |
B.E.
[Meachnical] |
|
Experience : |
34
years |
|
Previous Employment : |
Flovel
India, Partner |
|
|
|
|
Name : |
Mr.
Shuban Kishan Kaul |
|
Designation : |
Joint
Managing Director |
|
Address : |
House
No. 633, Sector -21-A, Faridabad - 121001, Haryana |
|
Date of Birth/Age : |
01.03.1948 |
|
Date of Appointment : |
03.04.1976 |
|
Qualification : |
B. E.
[Electrical] |
|
Experience : |
36
years |
|
Previous Employment : |
Flovel
India – Parnter |
|
Date of Ceasing : |
31.03.2005 |
|
|
|
|
Name : |
Mrs.
Aruna Kar |
|
Designation : |
Director |
|
Address : |
M –
27, Greater Kailash – II, New Delhi – 110048 |
|
Date of Birth/Age : |
09.07.1951 |
|
Date of Ceasing : |
30.11.1995 |
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|
|
|
Name : |
Dr.
[Mrs.] S. K. Kaul |
|
Designation : |
Director
|
|
Address : |
633,
Sector -21-A, Faridabad, Haryana |
|
Date of Birth/Age : |
27.07.1948 |
|
Date of Ceasing : |
30.11.1995 |
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|
|
|
Name : |
Mr.
Hira Lal Tiku |
|
Designation : |
Director
|
|
Address : |
L –
27, Kailash Colony, New Delhi |
|
Date
of Ceasing : |
30.11.1995 |
|
|
|
|
Name
: |
Mr.
Manmohan Dhar |
|
Designation
: |
Additional
Director |
|
Address
: |
C –
56, Kailash Apartments, Lala Lajpat Rai Marg, New Delhi - 110048 |
|
Date
of Birth/Age : |
26.05.1921 |
|
Date
of Appointment : |
30.09.1996 |
|
Date
of Ceasing : |
30.09.1997 |
|
|
|
|
Name
: |
Mr.
Tahilramaney Pooran |
|
Designation
: |
Additional
Director |
|
Address
: |
White
House, Flat 301, N Gamadia Road, Cross Lane Bombay – 26 |
|
Date
of Birth/Age : |
14.04.1928 |
|
Date
of Appointment : |
30.11.1995 |
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Date
of Ceasing : |
13.03.2002 |
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|
|
|
Name
: |
Mr.
Dieter Hody |
|
Designation
: |
Director |
|
Address
: |
27 Ch
8713, UERIKON, Switzerland |
|
Date
of Birth/Age : |
10.06.1937 |
|
Date
of Appointment : |
30.11.1995 |
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Date
of Ceasing : |
30.09.1997 |
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|
|
|
Name
: |
Mr.
Rudi Roesch |
|
Designation
: |
Director |
|
Address
: |
Begnatd
STR 1788213, Ravensburg, Germany |
|
Date
of Birth/Age : |
28.04.1951 |
|
Date
of Appointment : |
30.11.1995 |
|
Date
of Ceasing : |
13.03.2002 |
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|
|
|
Name
: |
Mr.
Subodh S. Nadkarni |
|
Designation
: |
Additional
Director |
|
Address
: |
1
Shree Sidhivinayak Apartments, 128/5/4 Baner Road, Anudh, Pune |
|
Date
of Birth/Age : |
02.04.1956 |
|
Date
of Appointment : |
30.11.1995 |
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Date
of Ceasing : |
30.03.2000 |
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|
|
|
Name
: |
Mr.
Emsi A Maurer |
|
Designation
: |
Director |
|
Address
: |
Pyramigon
Buelweis Ch 8953 ELGC Zurich, Switzerland |
|
Date
of Birth/Age : |
27.06.1955 |
|
Date
of Appointment : |
30.11.1995 |
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Date
of Ceasing : |
30.09.1997 |
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|
|
|
Name
: |
Dr.
Wolfgang Wuhrer |
|
Designation
: |
Director
|
|
Address
: |
54
Staufersstasse, Ravensburg |
|
Date
of Birth/Age : |
21.01.1937 |
|
Date
of Appointment : |
30.09.1997 |
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Date
of Ceasing : |
18.03.2003 |
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|
|
|
Name
: |
Dr.
Franz Strohmer |
|
Designation
: |
Director
|
|
Address
: |
Keplerstrasse
– 19, A – 4040 Linz, Linz 43732, Austria |
|
Date
of Birth/Age : |
23.06.1945 |
|
Date
of Appointment : |
22.02.2000 |
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Date
of Ceasing : |
30.06.2004 |
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|
|
|
Name
: |
Mr.
Sanjiv Saral |
|
Designation
: |
Additional
Director |
|
Address
: |
H. No.
1838, Sector – 28, Faridabad – 121008 |
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Date
of Birth/Age : |
13.05.1955 |
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Date
of Appointment : |
22.02.2000 |
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Date
of Ceasing : |
30.06.2004 |
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|
|
|
Name
: |
Mr.
Mahadevan Anand |
|
Designation
: |
Additional
Director |
|
Address
: |
H. No.
E – 520, Greater Kailash – II, New Delhi – 110048 |
|
Date
of Birth/Age : |
04.11.1951 |
|
Date
of Appointment : |
22.02.2000 |
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Date
of Ceasing : |
25.06.2003 |
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|
|
|
Name
: |
Mr.
Kari Scherer |
|
Designation
: |
Additional
Director |
|
Address
: |
Salar
Manzil, Ahmedabad Place Road, Koh – E – Fiza, Bhopal [Madhya Pradesh] |
|
Date
of Birth/Age : |
25.07.1955 |
|
Date
of Appointment : |
13.03.2002 |
|
Date
of Ceasing : |
18.03.2003 |
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|
|
|
Name
: |
Mr.
Alfred Friedinger |
|
Designation
: |
Additional
Director |
|
Address
: |
Kollergasse
16, A – 1030 Vienna, Austria |
|
Date
of Birth/Age : |
21.12.1945 |
|
Date
of Appointment : |
13.03.2002 |
|
Date
of Ceasing : |
18.03.2003 |
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|
|
|
Name
: |
Mr.
Helmuth Tschabuschning |
|
Designation
: |
Additional
Director |
|
Address
: |
A –
2345, Brunn A Gebirge Frankeith Gasse, 4415, Austria |
|
Date
of Birth/Age : |
19.12.1947 |
|
Date
of Appointment : |
13.03.2002 |
|
Date
of Ceasing : |
18.03.2003 |
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|
|
|
Name
: |
Mr. J.
C. Riesterer |
|
Designation
: |
Additional
Director |
|
Address
: |
Konigsberger,
STR – 15, 88212 Ravensburg, Germany |
|
Date
of Birth/Age : |
06.10.1953 |
|
Date
of Appointment : |
18.03.2003 |
|
Date
of Ceasing : |
25.06.2003 |
|
|
|
|
Name
: |
Mr.
Dechaud Didier |
|
Designation
: |
Additional
Director |
|
Address
: |
216,
Avenue De Gzenoble, 38180, Seyssins, France |
|
Date
of Birth/Age : |
19.10.1954 |
|
Date
of Appointment : |
18.03.2003 |
|
Date
of Ceasing : |
31.03.2005 |
|
|
|
|
Name
: |
Mr.
Jatinder Chopra |
|
Designation
: |
Secretary
|
|
Address
: |
B –
59, Anand Vihar, New Delhi – 110092 |
|
Date
of Birth/Age : |
19.05.1957 |
|
Date
of Appointment : |
30.03.1996 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr.
Maharaj Kar |
|
230538 |
|
Mr.
Shuban Krishan Kaul |
|
239799 |
|
Mrs.
Aruna Kar |
|
31752 |
|
Mrs.
Nancy Kaul |
|
31752 |
|
Mrs.
Indira Saraf |
|
132082 |
|
Mr.
Gautam Kar |
|
25082 |
|
Ms.
Gayatri Kar |
|
25082 |
|
Mrs.
Kusum Jinsi |
|
100330 |
|
Va
Tech Escher Wyss GmbH, Germany |
|
1304147 |
|
Total |
|
2120564 |
BUSINESS DETAILS
|
Line of Business : |
Engineering
Procurement and Construction Contracts for Hydro Power Plants |
|
|
|
|
Exports : |
Hydro Turbines and other Equipments
including Butterfly Valves. |
|
|
|
|
Imports from : |
Germany, Austria and Switzerland [Raw materials and components] |
GENERAL
INFORMATION
|
Suppliers : |
Ř
Flowezy
Hydraulics [Private] Limited Ř
Mech
Well Tools Ř
Anurag
Casting |
|
|
|
|
No. of Employees : |
About
150 |
|
|
|
|
Bankers : |
v Hong Kong Bank & Shanghai Banking Corporation Limited, New Delhi – 110 001 v Desutsche Bank, Tolstoy Marg, New Delhi – 110 001 v Credit Lyonnnais, K. G. Marg, New Delhi – 110 001 v ABN Amro bank, D.L.F Centre, New Delhi – 110 001 v IDBI Bank Limited v State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi – 110001, Delhi, India v ICICI Bank Limited v Himalayan Bank, Nepal |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
S. R. Batliboi & Company Chartered Accountants B –
26, Qutab Institutional Area, New Delhi – 110016, India |
|
Tel. No.: |
91-11-26611004-09
/ 26852034 |
|
Fax No.: |
91-11-26611012-13 |
|
E-Mail : |
|
|
|
|
|
Holding Company : |
v
VA TECH Escher
Wyss GmbH, Germany |
|
|
|
|
Ultimate Holding Company : |
v
VA Technologies
AG, Austria |
|
|
|
|
Subsidiaries : |
India v VA Tech Hydro India Private Limited, Bhopal v VA Tech India Private Limited, New Delhi v VA Tech India Limited, India v VA Tech WABAG Limited China v VA Tech GmbH and Company, Beijing Representative Office, China Indonesia v PT. VA Tech Indonesia, Jakarta Malaysia v VA Tech Holdings (Malaysia) Sdn. Bhd. (Kuala Lumpur) Pakistan v VA Tech International GmbH (Karachi) Thailand v VA Tech (Thailand) Company Limited (Bangkok) Vietnam v VA Tech International South Africa v VA Tech International SA (Johannesburg) Europe v Austria v VA Tech Hydro GmbH and Company (Vienna) v VA Tech Hydro Linz Branch (Linz) v VA Tech Hydro Weiz Plant (Weiz) v VA Tech SAT GmbH and Company (Vienna) Czech Republic v EZ Praha a.s. (Praha) v VA Tech SAT Praha spol. s.r.o. (Praha) Denmark v VA Tech SAT A/S (Horsholm) France v VA Tech Bouvier Hydro S.A. (Grenoble) Germany v VA Tech Escher WYSS GmbH (Ravensburg) v VA Tech SAT GmbH (Planegg) Hungary v VA Tech Hydro Kepviseleti Iroda (Torokbalint) Italy v VA Tech Esher WYSS S.r.l. (Schio) Norway v VA Tech Hydro AS (Jevnaker) Poland v VA Tech Polska Sp. Z.o.o (Wroclaw) Russia v VA Tech international GmbH (Moskow) Slovak Republic v SAT Systemy automatizacne techniky, spol.s.r.o. (Bratislava) v VA Tech International spol. s.r.o. (Bratislava) Spain v VA Tech Escher WYSS S.L. (Madrid) Sweden v VA Tech hydro AS, Norge Filial (Skara) Switzerland v VA Tech Hydro AG (Kreins) v VA Tech hydro SA (Vevey) v VA Tech Hydro AG (Zurich) v VA Tech SAT AG (Hunenberg) Turkey v VA Tech Elin Elmak Elektromekanik Sistemler Ticaret Limited, Sirketi (Ankara) Ukraine v VA Tech International (Kiew) United Kingdom v VA Tech Transmission and Distribution Limited (Hepburn) North America Canada v VA Tech Ferranti Packard Transformers Limited (St. Catherines) v VA tech bouvier Canada Inc. (Montreal) Mexico v VA Tech Transmison y Dristribucion S.A. de c. v. Mexico city v VA Tech Escher WYSS S. S. de C. V. (Morelia) USA v VA Tech Hydro USA Corporation (Charlotte) Brazil v VA tech Hydro Brasil Limited (Sao Paolo) Columbia v VATECO Limited (Bogota) Venezuela v VA Tech Venezuela C. A. (Caracas) Austria v VA Tech SAT GmbH & Company v VA Tech Hydro GmbH & Company v VA Tech Hydro Linz Ireland v VA Tech Finance Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 150.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2120564 |
Equity
Shares |
Rs. 10/- each |
Rs. 21.206 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2005 |
31.12.2004 |
31.12.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
21.206 |
21.205 |
21.205 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
165.278 |
168.805 |
165.278 |
|
|
4] (Accumulated Losses) |
[96.680] |
[66.129] |
[129.555] |
|
|
NETWORTH |
89.804 |
123.881 |
56.928 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
51.286 |
16.208 |
22.721 |
|
|
2] Unsecured Loans |
395.541 |
408.728 |
428.539 |
|
|
TOTAL BORROWING |
446.827 |
424.936 |
451.260 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
536.631 |
548.817 |
508.188 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
207.357 |
212.575 |
242.137 |
|
|
Capital work-in-progress |
36.765 |
0.874 |
3.815 |
|
|
|
|
|
|
|
|
INVESTMENT |
50.000 |
50.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
38.851 |
44.395 |
25.173 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
71.275
|
37.194 |
53.513 |
|
|
Sundry Debtors |
1280.395
|
1086.895 |
784.006 |
|
|
Cash & Bank Balances |
138.117
|
145.812 |
40.579 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
73.949
|
79.523 |
72.543 |
|
Total Current Assets |
1563.736
|
1349.424 |
950.641 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1317.573
|
1079.474 |
713.578 |
|
|
Provisions |
42.505
|
28.977 |
|
|
Total Current Liabilities |
1360.078
|
1108.451 |
713.578 |
|
|
Net Current Assets |
203.658
|
240.973 |
237.063 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
536.631 |
548.817 |
508.188 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.12.2005 |
31.12.2004 |
31.12.2003 |
|
Sales Turnover [including other income] |
1290.275 |
1160.167 |
831.998 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
[25.248] |
52.124 |
16.735 |
|
Provision
for Taxation |
8.830 |
[18.425] |
3.074 |
|
Profit/(Loss)
After Tax |
[34.078] |
70.549 |
13.661 |
|
|
|
|
|
|
Export
Value |
NA |
24.965 |
54.194 |
|
|
|
|
|
|
Import
Value |
NA |
55.993 |
20.043 |
|
|
|
|
|
|
Total
Expenditure |
1315.523 |
1108.042 |
815.263 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2005 |
31.12.2004 |
31.12.2003 |
|
PAT / Total Income |
(%) |
[2.64]
|
6.08 |
1.64 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
[1.96]
|
4.49 |
2.01 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
[1.43]
|
3.34 |
1.40 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
[0.28]
|
0.42 |
0.29 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
20.12
|
12.38 |
12.53 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
1.15
|
1.21 |
1.33 |
LOCAL AGENCY
FURTHER INFORMATION
Business
To carry
on the business of Engineers Consultants and Manufacturers of engineering goods
like hydraulic turbines, governors, hydraulic pumps, butterfly valves,
spherical valves, annular sleeve valves, needle valves with associated
operators.
VA TECH HYDRO
History VA Tech Hydro
VA TECH HYDRO can point to more than 160 years of experience and expertise in hydraulic power generation and is a competent and experienced partner for sutainable solutions.
The hydro business units of the companies SULZER HYDRO, VA TECH VOEST MCE and VA TECH ELIN were merged in 2000 to create VA TECH HYDRO.
|
ESCHER WYSS |
|
|
1805 |
Foundation of Escher Wyss, Zurich, CH |
|
1839 |
Delivery of the first water turbine |
|
1969 |
Sulzer acquires Escher Wyss |
|
1995 |
Change of name to Sulzer Hydro |
|
1999 |
VA TECH acquires Sulzer Hydro |
|
2000 |
Change of name to VA TECH ESCHER WYSS and integration into VA TECH HYDRO Group |
|
BLH / VOEST MCE |
|
|
1831 |
Foundation of BALDWIN Locomotive, Philadelphia, USA |
|
1878 |
Invention of the first Pelton waterwheel in USA |
|
1903 |
First waterturbine of I.P. MORRIS |
|
1950 |
Manufacturing of turbine parts in Linz, Austria |
|
1957 |
Licence of BLH BALDWIN-LIMA-HAMILTON |
|
1971 |
Acquisition of BALDWIN-LIMA-HAMILTON´s hydro sector, including I.P.MORRIS and PELTON-WATER-WHEEL |
|
1989 |
Foundation of VOEST-ALPINE MCE |
|
1991 |
Foundation of HYDRO VEVEY |
|
1992 |
Foundation of BOUVIER HYDRO |
|
1993 |
Strategic alliance with GE Canada |
|
1994 |
Foundation of VA TECHNOLOGIE AG |
|
1995 |
Joint Venture VAMEC, Brazil |
|
2000 |
VA TECH VOEST MCE integrated into VA TECH HYDRO Group |
|
VEVEY |
|
|
1863 |
Foundation of Ateliers B.Roy & Cie, Vevey, CH |
|
1895 |
Ateliers de Construction Mécaniques de Vevey |
|
1981 |
Takeover of Ateliers des Charmilles |
|
1991 |
Foundation
of HYDRO Vevey; |
|
CHARMILLES |
|
|
1918 |
Foundation of Ateliers des CHARMILLES, Genf, CH |
|
1981 |
Ateliers des CHARMILLES integrated into Vevey |
|
BOUVIER |
|
|
1874 |
Foundation of Ateliers Bouviers, Grenoble, F |
|
1992 |
Foundation
of BOUVIER HYDRO; |
|
ELIN |
|
|
1892 |
Foundation of Pichlerwerke in Weiz, Austria |
|
1922 |
Change of name to ELIN AG |
|
1959 |
Merger with AEG Union |
|
1989 |
Split into ELIN Energieanwendung and ELIN Energieversorgung |
|
1991 |
Cooperation with GE USA |
|
1993 |
Strategic alliance with GE Canada |
|
1994 |
Foundation of VA TECHNOLOGIE AG |
|
1997 |
Joint Venture Crompton Greaves |
|
1999 |
Joint Venture with ENERG Brazil |
|
2000 |
VA TECH ELIN integrated into the VA TECH HYDRO Group |
|
SAT Automation |
|
|
1973 |
Foundation of Schrack Automatisierungstechnik GmbH |
|
1985 |
Change of name ot SAT Systeme für Automatisierungstechnik GmbH |
|
1988- |
Foundation of Subsidiaries in several countries |
|
2000 |
Business Unit ACP (Austomation, Control, Protection) with VA TECH Reyrolle Protection |
|
2001 |
Participation of VA TECH HYDRO at VA TECH SAT (50%) |
FIXED
ASSETS
Ř
Land
– freehold
Ř
Buildings
Ř
Plant
and machinery
Ř
Furniture
& Fixtures
Ř
Office
Equipment and electrical installation
Ř
Vehicles
Ř
Computers
|
Corporate
identity number of the company |
U99999HR1976PLC034599 |
|
Name
of the company |
VA
TECH ESCHER WYSS FLOVEL LIMITED |
|
Address
of the registered office or of the principal place of business in India of the company |
Plot No. 57, Sector
27-C, 13/1 Mathura
Road, Faridabad – 121003, Haryana |
|
This
form is for |
Modification
of charges |
|
Type
of charge |
Hypothecation
|
|
Particular
of charge holder |
State Bank of India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi – 110001, Delhi, India |
|
Nature
of instrument creating charge |
|
|
|
|
|
Amount
secured by the charge |
Rs.
170.000 Millions |
|
Brief
of the principal terms an conditions and extent and operation of the charge |
The
period of validity of sanction of limits is one year from the date of
sanction. Rate of interest at SBAR at present 10.25 % as applicable and
Margin of 25 % on Raw Material, WIP, Finished goods and book debts.
Hypothecation charge on the goods hypothecated shall rank pari passu with
working capital lenders. |
|
Description
of the property charged |
Immovable
Properties Plant
and Machinery Furniture
and Fixture Book
Debts Stock
in trade Vehicles |
|
Particulars
of the property charged |
First
pari passu charge by way of hypothecation of entire stocks of raw material,
semi finished and finished goods consumable stores and book debts,
receivables, both present and future situtated at 49/5, Mathura Road, Village
Prithla, Palwal, Faridabad. |
|
Charge
identification number of the charge to the modified |
80007987 |
|
Brief
description of the instrument modifying the charge under section 135 |
Supplemental
agreement of loan for increase in the Overall Limit Supplemental
agreement of hypothecation of goods and assets for increase in the overall
limit Letter
regarding the grant of individual limits. |
|
Date
of instrument Creating the charge |
12.07.2006 |
|
Particulars
of the present modification |
The
extent of operation of charge stands increased due to enhance in overall
limits form Rs. 350.000 Millions to Rs. 600 Millions |
|
Name of the company |
VA TECH ESCHER WYSS FLOVER LIMITED |
|
Presented By |
Mr. S. K. Singhai, Assistant Vice
President IDBI Bank Limited, New Delhi |
|
1) Date and description of instrument creating the change |
Agreement of hypothecation of good & assets dated November 14, 2002 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 150.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
[1] First pari passu charge on a] all present and future book debts, moneys receivables choses in action and claims. b] All stock in trade both present & future, including raw material, work-in-process, finished goods, such as fabric, ready-made garments, stores, spares & others stored or being stored at 49/5, Mathura Road, Village Prithla, Palwal District, Faridabad or elsewhere. The above is for working capital limit of Rs. 150.000 millions as detailed below : Cash Credit / WCDL : Rs. 25.000 millions Total Fund Based : Rs. 25.000 millions Bank Guarantee : Rs. 125.000 millions Letter of Credit [ILC/FLC] : Rs. 125.000 millions Total Non-fund based : Rs. 125.000 millions Pricing : Cash Credit / WCDL : WCPLR – 1.75% present effective 12.00% [in case of WCDL in USD – Libor plus 200 basis point] Bank Guarantee : Upto Rs. 5.000 millions – 0.50% p.a. payable yearly Above 5 millions and upto Rs. 25.000 millions – 0.45% p.a. payable yearly Above 25 millions – 0.40% p.a. payable yearly In case tenor is more than 1 year – 0.75% p.a. Letter of Credit : As per bank’s guidelines Margin : Cash Credit / WCDL : Stocks – 25%; receivable upto 90 days – 25% and receivables more than 90 days – 100% Letter of Credit / Bank Guarantee : Nil Period : Cash Credit /WCDL : One year LC : 180 days Bank Guarantee : three year [excluding claim period] Repayment : Cash Credit / WCDL : On Demand |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Not Applicable |
|
5) Name and Address and description of the person entitled to the charge. |
Not Applicable |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
Name of the company |
VA TECH ESCHER WYSS FLOVER LIMITED |
|
Presented By |
Mr. Jatinder Chopra, Chief Financial
Officer & Company Secretary |
|
1) Date and description of instrument creating the change |
State Bank of India, Overseas Bank, Jawahar Vyapar Bhawan, 1, Totstoy Marg, New Delhi – 110001 Deed of hypothecation dated 18.10.2004 executed between VA Tech Escher Wyss Flovel Limited [hereinafter referred to as Borrower] & State Bank India [ Thereinafter referred to as Lender] |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Loan amount of Rs. 170.000 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 raw material, semi finished goods, finished goods Situated at 49/5 Mathura Road, Prithla Palwal |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest : PLR Margin : Nil Period : One year |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India, Overseas Bank, Jawahar Vyapar Bhawan, 1, Totstoy Marg, New Delhi – 110001 |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
Name of the company |
VA TECH ESCHER WYSS FLOVER LIMITED |
|
Presented By |
Mr. Jatinder Chopra, Chief Financial
Officer & Company Secretary |
|
1) Date and description of instrument creating the change |
Deed of hypothecation dated the 14th day of October, 2004 executed by VA Tech Escher Wyss Flovel Limited [therein and hereinafter referred to as the Borrower] in favour of ICICI Bank Limited [“ICICI”] |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Secured working capital facilities not exceeding Rs. 330.000 millions [the aforesaid working capital facilities as renewed / modified / amended from time to time are hereinafter collectively referred to as “the Facilities” extended / granted to the Borrower. |
|
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 properties more particularly described in Annexure I hereto [hereinafter collectively referred to as “the Assets” |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
In consideration of ICICI having granted / agreed to grant to the borrower the facilities, agreement and declaration by the borrower, inter alia, as follows : 1. Covenant by the borrower to comply / to ensure compliance with all the terms and conditions set out in the Master Facility Agreement dated 14.10.2004 entered between the borrower and ICICI, as modified amended / renewed /supplemented from time to time [hereinafter collectively referred to as “the Agreement”] 2. The borrower shall pay / repay all amounts in respect of the facilities and pay interest and all other monies in the manner set out in the agreement and the other transaction documents [as defined in the Agreement] |
|
5) Name and Address and description of the person entitled to the charge. |
Not Applicable |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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 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.44.27 |
|
UK
Pound |
1 |
Rs.86.71 |
|
Euro |
1 |
Rs.57.13 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
29 |
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 |