MIRA INFORM REPORT

 

 

Report Date :

19.07.2007

 

IDENTIFICATION DETAILS

 

Name :

AMA PRIVATE LIMITED

 

 

Registered Office :

Canada Building, 244 Dr. D. N. Road, Fort, Mumbai – 400001, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

18.10.1938

 

 

Com. Reg. No.:

11-2850

 

 

CIN No.:

[Company Identification No.]

U51109MH1938PTC002850

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMA18462D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importing and manufacturing Aviation Lighting Equipment.

 

 

RATING & COMMENTS

 

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 23000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established company having satisfactory track records.  Directors are experienced, respectable and resourceful businessmen.  Their trade relations are fair.  Financial position is good.  Payments are usually correct and as per commitments.  The company can be considered good for any normal business dealings at usual trade terms and conditions.

 

 

LOCATIONS

 

Registered Office /

Head Office :

Canada Building, 244 Dr. D. N. Road, Fort, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-22075271-2 / 66396571-2

Fax No.:

91-22-22078910

E-Mail :

ama@vsnl.com

vijay@amaindia.com

djs@amaindia.com

gaurav@amaindia.com

Website :

http://www.amaindia.com

 

 

Site Office :

E78 Anand Niketan, New Delhi - 110 021, India

Mobile No.:

91-98111 71088

 

 

Factory 1 :

125/126, Champaklal Industrial Estate, Sion Koliwada Road, Sion [East], Mumbai – 400022, Maharashtra, India

Contact Person : Mr. Vijay Rumde, Chief Engineer

Tel. No.:

91-22-24091398

 

 

Factory 2 :

C/1- 266 / 267, GIDC Industrial Estate, Naroda, Ahmedabad – 382330, Gujarat, India

Contact Person : Mr. Dilip Shah, Works Manager

Tel. No.:

91-79-2811049 / 3568

 

 

Branches :

88 Bangla Sahib Marg, New Delhi - 110 001, India

Contact Person : Mr. Gaurav Shorey

Tel. No.:

91-11-2374 2022 / 2374 2522

Fax No.:

91-11-2334 7922

 

 

DIRECTORS

 

Name :

Ms. Minal Girish Patel

Designation :

Chairman

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

13.10.1939

Date of Appointment :

01.01.1972

 

 

Name :

Mr. Sameer Girish Patel

Designation :

Director

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

04.02.1967

Date of Appointment :

01.10.1989

 

 

Name :

Ms. Hema Rahul Patel

Designation :

Director

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

14.09.1964

Date of Appointment :

06.01.1992

 

 

Name :

Ms. Sangeeta Sameer Patel

Designation :

Director

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

25.01.1966

Date of Appointment :

14.12.1993

 

 

Name :

Mr. Rahul Girish Patel

Designation :

Director

Address :

Malabar Court, Ridge Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

12.05.1965

Date of Appointment :

29.09.1983

 

 

KEY EXECUTIVES

 

Name :

Mr. T. S. Gyani

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

Ms. Dahiben Bhailal Patel

 

57

Ms. Dahiben Bhailal Patel

 

56

Ms. Minal Girish Patel

 

100

Ms. Minal Girish Patel

 

242

Mr. Sameer Girish Patel

 

169

Mr. Rahul Girish Patel

 

173

Mr. Rahul Girish Patel

 

177

Mr. Sameer Girish Patel

 

176

Mr. Rahul Girish Patel

 

2

Ms. Minal Girish Patel

 

358

Mr. Sameer Girish Patel

 

2

Mr. Rahul Girish Patel

 

350

Mr. Sameer Girish Patel

 

355

TOTAL

 

2217

 

Category

 

Percentage of Holding

Directors or relatives of directors

 

100.00

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Importing and manufacturing Aviation Lighting Equipment.

 

 

GENERAL INFORMATION

 

No. of Employees :

20

 

 

Bankers :

Indian Overseas Bank

HSBC

HDFC Bank

 

 

Facilities :

SECURED LOANS :

 

Overdraft balance with and Term Loans from Indian Overseas Bank

Car Loan from HSBC and HDFC Bank

 

 

 

Banking Relations :

Good

 

 

Auditors :

 

Name :

Pradeep B. Bhatt and Company

Chartered Accountants

Address :

53 / 54, Krishna Niwas, 4th Floor, Near Edward Cinema, Kalbadevi Road, Mumbai – 400 002, Maharashtra, India

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

2400

Equity Shares

Rs. 1000.00 each

Rs. 2.400 millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

2217

Equity Shares

Rs. 1000.00 each

Rs. 2.217 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

2.217

2.217

2.217

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

3.745

3.128

2.807

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

5.962

5.345

5.024

LOAN FUNDS

 

 

 

1] Secured Loans

6.540

3.529

6.613

2] Unsecured Loans

14.245

12.188

13.829

TOTAL BORROWING

20.785

15.717

20.442

DEFERRED TAX LIABILITIES

0.021

0.234

0.050

 

 

 

 

TOTAL

26.768

21.295

25.516

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

6.642

4.845

4.346

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.001

0.001

0.001

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
5.491

4.588

6.770

 

Sundry Debtors
17.146

12.303

20.775

 

Cash & Bank Balances
3.418

2.567

2.852

 

Other Current Assets
5.059

3.888

2.354

 

Loans & Advances
10.204

9.832

7.057

Total Current Assets
41.318

33.178

39.808

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
16.843

12.945

18.639

 

Provisions
4.350

3.784

0.000

Total Current Liabilities
21.193

16.729

18.639

Net Current Assets
20.125

16.449

21.169

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

26.768

21.295

25.516

 

 

 

 

 

 

 

 

 

 

 

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

31.03.2006

31.03.2005

31.03.2004

Sales Turnover [Including other Income[

59.727

88.909

46.595

 

 

 

 

Profit/(Loss) Before Tax

1.331

1.504

0.611

Provision for Taxation

0.000

0.000

0.260

Profit/(Loss) After Tax

1.331

1.504

0.351

 

 

 

 

Export Value

 

 

3.190

 

 

 

Interest

2.385

2.521

 

Depreciation

1.165

0.843

45.984

Other Expenses

54.846

84.042

 

Total Expenditure

58.396

87.406

45.984

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2006

31.03.2005

31.03.2004

PAT / Total Income

(%)
2.22

1.69
0.75

 

 
 

 
 

Net Profit Margin

(PBT/Sales)

(%)
2.22

1.69
1.31

 

 
 

 
 

Return on Total Assets

(PBT/Total Assets}

(%)
2.77

3.95
1.38

 

 
 

 
 

Return on Investment (ROI)

(PBT/Networth)

 
0.22

0.26
0.12

 

 
 

 
 

Debt Equity Ratio

(Total Liability/Networth)

 
7.04

6.07
7.77

 

 
 

 
 

Current Ratio

(Current Asset/Current Liability)

 
1.95

1.98
2.13

 

 

LOCAL AGENCY FURTHER INFORMATION

 

AMA Airfield Lighting Systems is a division of AMA Private Limited.

 

The company has entered into partnership with the Managing Director and Directors of the company under the name ‘AMA Engineering of Association of the company.

 

The sales during the year were Rs. 41.932 millions resulting in net profit of Rs. 0.611 million as shown above.  The prospects for the activities of the company remain favourable.

 

Fixed Assets

 

  • Plant & Machinery
  • Office Equipment
  • Furniture & Fixtures
  • Xerox Machine
  • Fax Machine
  • Motor Car

 

 

 

Name of the company

AMA PRIVATE LIMITED

Presented By

AMA PRIVATE LIMITED and Indian Overseas Bank, Fort Branch, Mumbai – 400023

1) Date and description of instrument creating the change

12.06.1998

Letter of Hypothecation [for securing machineries / goods / book debts] dated 12.06.1998

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 11.000 millions

Consisting of cash credit limit of Rs. 3.500 millions, Letter of Credit [Inland and Foreign] limit of Rs. 1.000 million and Letter of Guarantee limit of Rs. 6.500 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation of Airport lighting equipments, glide parh indicators constant current regulators, control panels and all other accessories and equipments connected with Airport lighting.

 

In respect of Letter of credit facility the security cover shall be documents to title to goods

 

Hypothecation  of all machineries both existing & future installed / to be installed at factory premises of the company at Ahmedabad and Mumbai

 

Hypothecation of entire stocks and finished goods incourse of transit.

 

Hypothecation of present and future book debts of the company

4) Gist of the terms and conditions and extent and operation of the charge.

The bank has granted the aforesaid facilities on the following terms and conditions

 

Cash Credit :

Interest – Prime lending Rate + 4.5% + Interest Tax at the applicable rates from time to time

 

The current rate of interest is at 17.5% p.a. + Interest Tax

 

Margin – On stock – 25%

           - On Book Debts – 50%

 

Letter of Credit

Commission – as per FEDAI rules

Margin – 10%

 

Letter of Guarantee :

Commission – as per relevant central office circular of the Bank in force from time to time

 

Right of entry, inspection, appointment of receiver, right of sale or otherwise dispose of all or any part of the hypothecated assets reserved in favour of the Bank in case of default, non – compliance or breach of any of the terms and conditions of the Hypothecation Agreement.

5) Name and Address and description of the person entitled to the charge.

Indian Overseas Bank

2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai – 400023, Maharashtra, India

6) Date  and brief description of instrument modifying the charge

28.03.2005

Deed of First Extension of Equitable Mortgage dated 28.03.2005

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

The company is enjoying credit facilities amounting to Rs. 15.826 millions from the Bank and the same is secured by the hypothecation of stocks, book debts, plant & machineries and other movable assets of the company.  By the 2nd modification dated 06.07.1998, the company had also created a mortgage charge on the properties of the company to secure the credit limit of Rs. 13 millions. By the present modification, the amount secured by equitable mortgage of the immovable property of the company has been enhanced from Rs. 13 millions to Rs. 15 millions

 

Where as the hypothecation charge shall continue to secure the aggregate facility of Rs. 15.826 millions, the mortgage charge shall secure only the enhanced amount of Rs. 15 millions

 

Further, the properties which have been mortgaged as security are :-

 

  1. GIDC Industrial Estate, Naroda, Ahmedabad, bearing Plot No. 266 and 267, Phase III, consisting of Revenue Survey No. 460 of Mouje Naroda of City Taluka in the Registration District and Sub-District of Ahmedabad admeasuring about 1536 sq. mtrs.
  2. Unit No. 125, having aggregate built-up area of about 800 sq. ft. in the building of the Champaklal Udyog Bhavan Unit holders cooperative Housing Society Limited, situated at 10, Sion [East], Mumbai – 400022 bearing C.S.No. 535 / And / CS No. 405/6 Sion Division Plot No. 105 Sion [East] lying and being in the Registration District and Sub-district of Mumbai City and Mumbai Sub-urban now in Greater Mumbai

 

All other terms and conditions remain the same.

 

Name of the company

AMA PRIVATE LIMITED

Presented By

AMA PRIVATE LIMITED and Indian Overseas Bank, Fort Branch, Mumbai – 400023

1) Date and description of instrument creating the change

12.06.1998

Letter of Hypothecation [for securing machineries / goods / book debts] dated 12.06.1998

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 11.000 millions

Consisting of cash credit limit of Rs. 3.500 millions, Letter of Credit [Inland and Foreign] limit of Rs. 1.000 million and Letter of Guarantee limit of Rs. 6.500 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation of Airport lighting equipments, glide parh indicators constant current regulators, control panels and all other accessories and equipments connected with Airport lighting.

 

In respect of Letter of credit facility the security cover shall be documents to title to goods

 

Hypothecation  of all machineries both existing & future installed / to be installed at factory premises of the company at Ahmedabad and Mumbai

 

Hypothecation of entire stocks and finished goods incourse of transit.

 

Hypothecation of present and future book debts of the company

4) Gist of the terms and conditions and extent and operation of the charge.

The bank has granted the aforesaid facilities on the following terms and conditions

 

Cash Credit :

Interest – Prime lending Rate + 4.5% + Interest Tax at the applicable rates from time to time

 

The current rate of interest is at 17.5% p.a. + Interest Tax

 

Margin – On stock – 25%

           - On Book Debts – 50%

 

Letter of Credit

Commission – as per FEDAI rules

Margin – 10%

 

Letter of Guarantee :

Commission – as per relevant central office circular of the Bank in force from time to time

 

Right of entry, inspection, appointment of receiver, right of sale or otherwise dispose of all or any part of the hypothecated assets reserved in favour of the Bank in case of default, non – compliance or breach of any of the terms and conditions of the Hypothecation Agreement.

5) Name and Address and description of the person entitled to the charge.

Indian Overseas Bank

2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai – 400023, Maharashtra, India

6) Date  and brief description of instrument modifying the charge

25.07.2003

1. Letter of Hypothecation [F – 110E]

2. Term Loan agreement [F- 110C]

 

Both dated 15.07.2003 and relate to a single modification

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

By the present modification, a fresh Term Loan of Rs. 1.326 millions has been granted by the Bank to the company. Thus, the total credit facility secured by the charge has been enhanced from Rs. 11.000 millions to Rs. 12.326 millions as detailed below :

 

Nature of Facility

Present Limit

Revised Limit

 

[Rupees in Millions]

Cash Credit

4.000

4.000

Letter of

Credit

1.000

1.000

Letter of

Guarantee

6.000

6.000

Term Loan

Nil

1.326

Total

11.000

12.326

 

Further, the enhanced credit facility of Rs. 12.326 millions shall be additionally secured the Hypothecation of machineries purchased or to be purchased out of the said Term Loan.  The credit facilities shall continue to be secured by the securities earlier provided by the company.

 

Terms and conditions [Term Loan] :

Rate of Interest : PLR + 3.5% p.a. i.e. presently 15%.

Repayment : in 36 EMIs of Rs. 0.046 million each commencing from March, 2003.

 

All other terms and conditions remain the same.

 

Name of the company

AMA PRIVATE LIMITED

Presented By

AMA PRIVATE LIMITED and Indian Overseas Bank, Fort Branch, Mumbai – 400023

1) Date and description of instrument creating the change

12.06.1998

Letter of Hypothecation [for securing machineries / goods / book debts] dated 12.06.1998

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 11.000 millions

Consisting of cash credit limit of Rs. 3.500 millions, Letter of Credit [Inland and Foreign] limit of Rs. 1.000 million and Letter of Guarantee limit of Rs. 6.500 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation of Airport lighting equipments, glide parh indicators constant current regulators, control panels and all other accessories and equipments connected with Airport lighting.

 

In respect of Letter of credit facility the security cover shall be documents to title to goods

 

Hypothecation  of all machineries both existing & future installed / to be installed at factory premises of the company at Ahmedabad and Mumbai

 

Hypothecation of entire stocks and finished goods incourse of transit.

 

Hypothecation of present and future book debts of the company

4) Gist of the terms and conditions and extent and operation of the charge.

The bank has granted the aforesaid facilities on the following terms and conditions

 

Cash Credit :

Interest – Prime lending Rate + 4.5% + Interest Tax at the applicable rates from time to time

 

The current rate of interest is at 17.5% p.a. + Interest Tax

 

Margin – On stock – 25%

           - On Book Debts – 50%

 

Letter of Credit

Commission – as per FEDAI rules

Margin – 10%

 

Letter of Guarantee :

Commission – as per relevant central office circular of the Bank in force from time to time

 

Right of entry, inspection, appointment of receiver, right of sale or otherwise dispose of all or any part of the hypothecated assets reserved in favour of the Bank in case of default, non – compliance or breach of any of the terms and conditions of the Hypothecation Agreement.

5) Name and Address and description of the person entitled to the charge.

Indian Overseas Bank

2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai – 400023, Maharashtra, India

6) Date  and brief description of instrument modifying the charge

06.01.2005

1. Letter of Hypothecation [F – 110E]

dated 6.01.2005

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

By the present modification, a credit facility granted by the bank is enhanced from Rs. 13.826 millions to Rs. 15.826 millions by the grant of an additional LG limit of Rs. 2.000 millions

 

The break-up of the enhanced limit is as follows :-

 

Nature of Facility

Present Limit

Revised Limit

 

[Rupees in Millions]

Cash Credit

4.000

4.000

Letter of

Credit

1.000

1.000

Letter of

Guarantee

6.000

6.000

Term Loan I

1.326

1.326

Term Loan II

1.500

1.500

Total

13.826

15.826

 

Further, the enhanced credit facility of Rs. 15.826 millions shall be secured the Hypothecation of stocks, book debts, plant & machinery, documents of title to goods and all other movable assets of the company, both present and future.  The credit facilities shall also continue to be secured by the securities earlier provided by the company.

 

All other terms and conditions remain the same.

 

Name of the company

AMA PRIVATE LIMITED

Presented By

AMA PRIVATE LIMITED and Indian Overseas Bank, Fort Branch, Mumbai – 400023

1) Date and description of instrument creating the change

12.06.1998

Letter of Hypothecation [for securing machineries / goods / book debts] dated 12.06.1998

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 11.000 millions

Consisting of cash credit limit of Rs. 3.500 millions, Letter of Credit [Inland and Foreign] limit of Rs. 1.000 million and Letter of Guarantee limit of Rs. 6.500 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation of Airport lighting equipments, glide parh indicators constant current regulators, control panels and all other accessories and equipments connected with Airport lighting.

 

In respect of Letter of credit facility the security cover shall be documents to title to goods

 

Hypothecation  of all machineries both existing & future installed / to be installed at factory premises of the company at Ahmedabad and Mumbai

 

Hypothecation of entire stocks and finished goods incourse of transit.

 

Hypothecation of present and future book debts of the company

4) Gist of the terms and conditions and extent and operation of the charge.

The bank has granted the aforesaid facilities on the following terms and conditions

 

Cash Credit :

Interest – Prime lending Rate + 4.5% + Interest Tax at the applicable rates from time to time

 

The current rate of interest is at 17.5% p.a. + Interest Tax

 

Margin – On stock – 25%

           - On Book Debts – 50%

 

Letter of Credit

Commission – as per FEDAI rules

Margin – 10%

 

Letter of Guarantee :

Commission – as per relevant central office circular of the Bank in force from time to time

 

Right of entry, inspection, appointment of receiver, right of sale or otherwise dispose of all or any part of the hypothecated assets reserved in favour of the Bank in case of default, non – compliance or breach of any of the terms and conditions of the Hypothecation Agreement.

5) Name and Address and description of the person entitled to the charge.

Indian Overseas Bank

2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai – 400023, Maharashtra, India

6) Date  and brief description of instrument modifying the charge

26.12.2005

1. Letter of Hypothecation [F – 110E]

dated 26.12.2005

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

By the present modification, a credit facility granted by the bank is enhanced from Rs. 15.826 millions to Rs. 24.326 millions.

 

The break-up of the enhanced limit is as follows :-

 

Nature of Facility

Present Limit

Revised Limit

 

[Rupees in Millions]

Cash Credit

4.000

4.000

Letter of

Credit

1.000

1.000

Letter of

Guarantee

8.000

12.500

Term Loan I

1.326

1.326

Term Loan II

1.500

1.500

Cheque Purchase

Nil

2.000

Total

15.826

24.326

 

Further, the enhanced credit facility of Rs. 24.326 millions shall be secured the Hypothecation of stocks, book debts, plant & machinery, documents of title to goods and all other movable assets of the company, both present and future.  The credit facilities shall also continue to be secured by the securities earlier provided by the company.

 

All other terms and conditions remain the same.

 

WEBSITE DETAILS

 

BREAKING NEWS - AMA has been awarded projects for Airfield Lighting as well as Visual Docking Guidance for Hyderabad International Airport Limited, the new greenfield, private airport under construction in India.

 

AMA has had a banner year in 2005, starting with the commissioning of 19 Visual Dockling Guidance Systems for Mumbai Airport followed by orders for Calcutta, Cochin and New Delhi. In addition, important projects include Supply and Installation of Exel masts for main Delhi Approach, Cat-III Taxiway Lighting for Delhi Airport and Cat-I lighting equipment for various airports including Nagpur, Ahmedabad and Kolkatta.

 

AMA will go into 2006 with both Hyderabad projects as well as a complete Cat-I lighting system project for Etawah Airport (near Agra) and a Cat-III taxiway lighting for the new parallel taxiway at Delhi.

 

PROFILE

 

AMA, the pioneer in the field of Aviation Lighting in India, was established in the year 1940. They started importing and manufacturing Aviation Lighting Equipment in 1962, and since then they have had the privilege of supplying their wide range of equipments to virtually every civil and several defence airports throughout India.

 

From the very beginning, their goal has been to manufacture the highest quality Airfield Lighting Equipment in India. Today, their staff of 105 persons in their Mumbai, New Delhi and Ahmedabad Offices and their Sion and Ahmedabad Works is headed by the Managing Director, Mrs. Minal Patel, and their Directors, Mr. Rahul Patel and Mr. Sameer Patel who are based in their Head Office and Mr. Kamal Kapur who is based in their Delhi Office. They have 5 engineers at their Sion and Ahmedabad Works and 10 site engineers to provide back-up and maintenance for all equipment supplied by them. Furthermore, they also have several specialist consultants who help us modify/develop their products to the latest international standards. In recognition of the standard of their products and their contribution to Airport Lighting in India, AMA had been appointed on the panel of the Indian Standards Institution for airfield lighting equipment.

 

Their technical excellence and commercial integrity has made AMA the undisputed leader in this field in India.

 

Their entire range of products has been tested and approved by the Directorate of Technical Development and Production (Air), Ministry of Defence before induction into the Military, and by CRI and other Government approved independent labs routinely.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                  None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on 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. 40.40

UK Pound

1

Rs. 82.93

Euro

1

Rs. 55.81

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

54

 

This score serves as a reference to assess 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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions