MIRA INFORM
REPORT
|
Report
Date : |
04.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
BPL TELECOM PRIVATE LIMITED |
|
|
|
|
Formerly
known as : |
BPL TELECOM LIMITED |
|
|
|
|
Registered
Office : |
“System
House”, Palakkad – 678007, |
|
|
|
|
Country
: |
|
|
|
|
|
Financials
(as on) : |
31.03.2006 |
|
|
|
|
Date
of Incorporation : |
30.12.1994 |
|
|
|
|
CIN
No.: |
U32204KL1994PTC008513 |
|
|
|
|
Com.
Reg. No.: |
09-8513 |
|
|
|
|
TAN
No.: (Tax
Deduction & Collection Account No.) |
CHNB00299F |
|
|
|
|
Legal
Form : |
Private limited liability company |
|
|
|
|
Line
of Business : |
Design/Development/Manufacture of telecom Equipments such
as Powerline Carrier Systems, Powerline Protective Systems, Fourwire Group
Selector and Intra-Digital Multiline Connector, Electronic Private Automatic
Branch Exchanges and Electronic Push Button Phones and also acts as Equipment
Service/Maintenance, Software developer and Importer and Exporter. |
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 : |
USD
1870000 |
|
|
|
|
Status
: |
Moderate |
|
|
|
|
Payment
Behaviour : |
Slow but
correct |
|
|
|
|
Litigation
: |
Clear |
|
|
|
|
Comments
: |
Subject is a part of BPL group which is not faring well as
a whole. BPL sold their prestigious telecom company which was incurring heavy
losses. Subject has substantial accumulated losses. It’s payments
are slow but correct. Financial position can be regarded as moderate. The company can be considered for small to mediocre
business dealings at usual trade terms and conditions with some
cautions. |
LOCATIONS
|
Registered/Factory
Office : |
“System House”, Palakkad – 678007, |
|
Tel.
No.: |
91–491-2573151/52/53/54 |
|
Fax
No.: |
91–491-2533054/2573375/2573150 |
|
Telex |
0852 213 BSP IN |
|
E-Mail
: |
|
|
Website
: |
|
|
|
|
|
Head
Office : |
1/1, |
|
Tel.
No.: |
91-80-22261845/22256388/22203438/22251141 |
|
Fax
No.: |
91-80-22202823/22256387 |
|
|
|
|
Overseas
Office : |
Located at :
BPL Systems Contact : Mr. Sandeep C Kumar / Mr. Chris Herrin Tel. No. : 1 - 770 – 3266655/9822 Fax No. : 1 - 770 – 3266633 Email : ck.sandeep@bplmail.com / chris.herrin@bplmail.com BK SOLUTIONS LIMITED Koyobashi, No. 6, No. 19-9, 3 Chome, Hatchobori, Chuo-Ku, Tel. 81 33 555 8861 Fax. 81 3 3555-8860 P. R. GLOLINKS
CONSULTING 102-116, Tel. 020 866 54262 Fax. 020 866 54201 ATL INDUSTRIES PTE LIMITED @04-15C, Shun Li Industrial Complex, Tel. 65 68447122 Fax. 65 68447133 BPL TECHNOLOGIES 333, Contact : Mr. Sriram - CEO Tel. No. : 1 - 408 – 530 - 1805 Fax No. : 1 - 408 – 530 - 1810 Email : sriram@bpltech.com Website : http://www.bpltech.com BPL TECHNOLOGIES 8008, Tel. No. : 1 - 214 – 3879441 Fax No. : 1 - 214 – 3879441 BPL TECHNOLOGIES / BPL
SYSTEMS 707, Contact : Mr. Amit Baldwa Tel. No. : 1 - 609 – 4194403 Fax No. : 1 - 609 – 2430045 Email : amit@bpltech.com Website :
htpp://www.bplsys.com BK SOLUTIONS LIMITED Kyobashi No.6, Nagaoka, Building No. 19-9 3, Chome, Hatchobori Chuo – ku, Contact : Mr. Shigeru Shimizu Telephone No. : 81 – (03) – 35372381/3555 - 8861 Fax No. : 81 – (03) – 35372380/3555 - 8860 Email : shigeru@bk-solutions.net SEAIN Solutions Limited 11-10F, # 328 Song – Contact : Mr. Charles Lin Telephone No. : +886 - 2 – 2562 - 9239 Fax No. : +886 - 2 – 2522 - 3509 Email : charles@bplmail.com Web : http://www.seain.com.tw BPL Systems Europe
Limited Ground Floor, Middlesex
House 130 College Road, Telephone No. : +020 – 8424 – 0764/0779 Fax No. : +020 - 8426 – 0707 Email : salesitg@bplmail.com HANI CORPORATION # 603, Sung Ji Building, 538, Dowha-Dong, Mapo-Ku, Tel. 82 2 706 5640 Fax. 82 27065641 |
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|
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Factory
1 : |
No. 5, Koramangala, |
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|
|
|
Branches
: |
Located at :- v 4/3, v 1306/1310, v 2B/2C, v Room No. 8, 7th Floor, v No. 16, Balaji Nagar, Royapettah,
Chennai – 600014, Tamilnadu v No. 160/27, R S Puram, v No. 59/2081, Ernakulam, v No. 215, Zone 1, M P Nagar, v 5-10-193, Besides All |
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|
|
|
Marketing
Office : |
v 54, Tel. No:
91-80-25095141/42/43/44/45/46/47/48/49 Fax No: 91-80-25594966 v BPL Systems, BPL Systems, v P R Glolinks Consulting, v C/O: BK Solutions Limited, v C/O: Hani Corporation, v ATL Industries Limited, |
DIRECTORS
|
Name : |
Mr. Thazhathpollayikodi Gopalan Nambiar |
|
Designation
: |
Chairman
and Managing Director |
|
Address
: |
No. 4/ |
|
Election
commission Identify Code No. : |
KT/112/085/237271 |
|
Date
of Birth/Age : |
25.11.1929 |
|
Qualification
: |
P. G.
Diploma in Air Conditioning and Refrigeration |
|
Date
of Appointment : |
22/03/1999 |
|
|
|
|
Name : |
Mr. Renjit
Shah |
|
Designation
: |
Managing
Director |
|
Address
: |
No. 20,
CCI Chambers, 2nd Floor, |
|
Date
of Birth/Age : |
30.05.1958 |
|
Date
of Appointment : |
19/062000 |
|
|
|
|
Name : |
Mr. Ajit
Gopalan Nambiar |
|
Designation
: |
Director |
|
Address
: |
10/3,
Crescent Road, |
|
Election
commission Identify Code No. : |
KT/12/085/237273 |
|
Date
of Birth/Age : |
11.07.1963 |
|
Qualification
: |
B. S.
Electronics from |
|
Date of
Appointment : |
30/12/1994 |
|
Other
Directorships : |
v
Electro Investment Private Limited v
Nambiar International Investment Company Private Limited v
Aquabionics Holding Corporation Private Limited v
Phoenix Holdings Private Limited v
Stallion Computers Private Limited v
E R Computers Private Limited v
Electronic Research Private Limited v
BPL Telecom Private Limited v
BPL Limited v
BPL Display Devices Limited v
NI Micro Technologies Private Limited v
Sanyo BPL Private Limited v
Dynamic Electronics Private Limited v
Anan Properties and Finance Company Limited |
|
|
|
|
Name : |
Mr.
Venkitaraman S. |
|
Designation
: |
Director |
|
Address
: |
No. 19,
Crescent Avenue, Keshava Perumal Puram, Chennai – 600 028, Tamilnadu |
|
Election
commission Identify Code No. : |
TN/03/013/0342113 |
|
Date
of Birth/Age : |
28.01.1931 |
|
Qualification
: |
M.Sc,
Masters Degree in Industrial Administration |
|
Date
of Appointment : |
23/02/2000 |
|
|
|
|
Name : |
Mr.
Prabhala S. Subbarao |
|
Designation
: |
Director |
|
Address
: |
37, |
|
Election
commission Identify Code No. : |
KT/12/086/228151 |
|
Date
of Birth/Age : |
25.07.1933 |
|
Date
of Appointment : |
23/02/2000 |
|
Name : |
Mr.
Paulraj Joseph Arogyaswami |
|
Designation
: |
Director |
|
Address
: |
59, Peter
Coutts Hill, |
|
Date
of Birth/Age : |
14.041944 |
|
Date
of Appointment : |
19/06/2000 |
|
|
|
|
Name : |
Mr.
Madhusudan P. |
|
Designation
: |
Wholetime
Director |
|
Address
: |
1802, |
|
Date
of Birth/Age : |
03.03.1953 |
|
Date
of Appointment : |
19/06/2000 |
|
|
|
|
Name : |
Mr.
Shashi Nambiar |
|
Designation
: |
Technology
Director |
|
Address
: |
2993, 12th
B, Main Indira Nagar Hal, 2nd Stage, |
|
Date
of Birth/Age : |
18.08.1961 |
|
Qualification
: |
Electronics
Engineer |
|
Experience
: |
18 Years |
|
Date
of Appointment : |
03/09/2003 |
|
|
|
|
Name : |
Mr.
Jayakrishnana P. M. |
|
Designation
: |
Wholetime
Director |
|
Address
: |
Sree 64
Chandrana Gar, Palakkad, Kerala-678007, |
|
Date
of Birth/Age : |
26.04.1949 |
|
Date
of Appointment : |
03/09/2003 |
|
|
|
|
Name : |
Mr.
Krishnan Devanandan |
|
Designation
: |
Company
Secretary |
|
Address
: |
Chandrana
Gar, Palakkad, Kerala – 678 007 |
|
Date
of Birth/Age : |
28/08/1952 |
|
Date
of Appointment : |
06/11/1995 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Nambiar
Kunnathpoyil Raghavan |
103 |
|
Mr. Ajit
Gopalan Nambiar |
101 |
|
Mr. Thazhathpollayikodi Gopalan Nambiar |
107 |
|
Anju R
Chandrasekhar |
100 |
|
Uppal
Amarnath Madanlal |
3367 |
|
Mr.
Viswanath Nambiar |
38003 |
|
Mr.
Ravindran P. V. |
52480 |
|
Mr.
Viswanath Remani |
7426 |
|
BPL
Limited |
2596980 |
|
Dynamic
Electronics Private Limited |
3473190 |
|
Electro
Investment Private Limited |
2852800 |
|
Merino
Finance Private Limited |
4495500 |
|
Tandem
Securities Private Limited |
401150 |
|
Namfil
Finance Company Private Limited |
1161900 |
|
Coimbatore
Cable Net Private Limited |
1337711 |
|
Nambiar
Lakshmi |
7425 |
|
Mrs.
Kanchan Mohani Uppal |
21483 |
Prema Raghavaan
|
16335 |
Nambiar Preetha
|
4455 |
Usha Vijayaraghavan
|
4455 |
Hari Nambiar
|
4455 |
K P Damodaran Nambiar
|
1237 |
Manju Bhatia
|
495 |
Kabir Bhatia
|
1980 |
Sudha Murali
|
2475 |
Anuradha Rajaram
|
2475 |
Rajendra Patil
|
4950 |
Pramod Katdhare
|
9900 |
Kanchan Katdhare
|
9900 |
Radha Radhakri
|
1237 |
Laxmi Nambiar
|
1600 |
Jauanthkumar Kukalasubraya
(HUF)
|
2575 |
Madhumathi Nambiar
|
7425 |
Jawahar Nambiar
|
7425 |
|
Zyfax
System Private Limited |
4557500 |
|
The
Triple 1 Company |
5369400 |
ER Computers Private Limited
|
4805000 |
ICICI Bank Limited
|
336700 |
Industrial Development
Bank
|
96600 |
Karnataka Bank Limited
|
24100 |
As on 31.03.2006
|
Names of Shareholders |
No. of Shares |
|
Foreign
holdings |
15.27 |
|
Bodies
Corporate |
82.26 |
|
Directors or their relatives |
0.61 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line
of Business : |
Design/Development/Manufacture of telecom Equipments such
as Powerline Carrier Systems, Powerline Protective Systems, Fourwire Group
Selector and Intra-Digital Multiline Connector, Electronic Private Automatic
Branch Exchanges and Electronic Push Button Phones and also acts as Equipment
Service/Maintenance, Software developer and Importer and Exporter. |
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Products
: |
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Exports
to : |
U.S.A/Canada, |
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Imports
from : |
U.S.A, |
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Terms
: |
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Selling : |
L/C and Credit (60 days) terms and locally against Credit
(45 days) terms |
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|
Purchasing : |
L/C and
Credit (60 days) terms and locally against Contract or Credit (60 days)
terms. |
PRODUCTION STATUS
|
Particulars |
Unit |
|
|
Actual Production |
|
Power
Line Communication Equipments |
Nos. |
|
|
775 |
|
Electronic
Private Automatic Branch Exchange |
Nos. |
|
|
60396 |
|
Push
Button Telephone |
Nos. |
|
|
557196 |
|
Personal
Computers |
Nos. |
|
|
1915 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers
: |
v
v
v
Toshiba Corporation, v
Motorola, U.S.A/Singapore v
Sanyo Electric Company, v
v
Dowtry RFC Industries Inc; v
v
Philips Semi-Conductors, v
Tandeberg Telecom Inc; v
Scientific v
New v
JCON, v
WestingHouse Electric, v
Analog Devices Inc, v
V P Technologies, v
v
v
Intel Corporation, |
||||||||||||||
|
|
|
||||||||||||||
|
Customers
: |
v
v
Welcome Group of Hotels, v
Thomas Cook India Limited, v
Hindustan Lever Limited, v
State Electricity Boards in v
Rites (Rail v
Star TV, v
Videsh Sanchar Nigam Limited, v
BPL Limited, v
M. S. E. B., Mumbai, v
VSNL, Chennai, Tamilnadu v
Indian Railways v
Motorola India Limited v
Colgate Palmolive India Limited, v
Coca – v
|
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|
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No. of
Employees : |
750 |
||||||||||||||
|
|
|
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|
Bankers
: |
v
State Bank of v
State Bank of v
Canara Bank, Cantonment Branch, v
UCO Bank, Palakkad v
UTI Bank Limited, v
Abudhabi Commerical Bank Limited, v
Central bank of v
Bank v
Industrial Development Bank of v
ICICI Bank Limited, v
Global Trust Bank Limited, v
Karnataka Bank Limited, v
Infrastructure Leasing and Financial Services Limited. |
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Facilities : |
|
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors
: |
T. Velu
Pillai & Company Chartered Accountants |
|
Address
: |
No.642, 4th
|
|
|
|
|
Associates/Subsidiaries
: |
v
BPL Systems and Projects Limited, Palghat v
BS Refrigerators Limited, v
BPL Sanyo Utilities and Appliances Limited, v
BPL Engineering Limited, v
Electronic Research Limited, v
BPL Display Systems Limited, v
BPL Limited v
BST Limited, v
BPL Cellular Communication Limited, Mumbai, v
Bharat Home Applicances Limited, v
India Paging Services Limited, Mumbai, v
BPL Sanyo Finance Limited, v
BPL Mobile Communications Limited, v
BPL Employees Co-Operative Society Subsidiary : BPL
Systems Limited LLC, |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
40,000,000 |
Equity
Shares |
Rs. 10/- each |
Rs. 400.000 millions |
|
1,000,000 |
Preference
Shares |
Rs. 100/- each |
Rs. 100.000 millions |
|
|
Total |
|
Rs, 500.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
3,51,73,300 |
Equity
Shares |
Rs.10/-each |
Rs. 351.733 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 |
351.733 |
351.733 |
368.159 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
323.265 |
389.248 |
388.733 |
|
|
4]
(Accumulated Losses) |
(205.970) |
(77.798) |
(73.046) |
|
NETWORTH
|
469.028 |
663.183 |
683.846 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
953.462 |
868.802 |
758.869 |
|
|
2]
Unsecured Loans |
0.000 |
0.000 |
20.000 |
|
TOTAL
BORROWING
|
953.462 |
868.802 |
778.869 |
|
|
DEFERRED
TAX LIABILITIES |
0.925 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1423.415 |
1531.985 |
1462.715 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
497.768 |
562.817 |
629.707 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
74.782 |
74.783 |
89.871 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
352.552
|
330.804
|
290.819
|
|
|
Sundry Debtors
|
515.474
|
661.305
|
580.261
|
|
|
Cash & Bank Balances
|
46.269
|
46.191
|
27.507
|
|
|
Other Current Assets
|
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances
|
83.995
|
78.056
|
108.609
|
Total Current Assets
|
998.290
|
1116.356
|
1007.196
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
131.981
|
221.971
|
264.059
|
|
|
Provisions
|
15.444
|
0.000
|
0.000 |
Total Current Liabilities
|
147.425
|
221.971
|
264.059
|
|
Net
Current Assets
|
850.865
|
894.385
|
743.137
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1423.415 |
1531.985 |
1462.715 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
|
1030.042 |
899.661 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
|
(4.211) |
(68.143) |
Provision for Taxation
|
|
0.541 |
25.879 |
Profit/(Loss) After Tax
|
|
(4.752) |
(43.264) |
|
|
|
|
|
Export Value
|
|
18.880 |
38.333 |
|
|
|
|
|
Import Value
|
|
219.579 |
177.919 |
|
|
|
|
|
Total Expenditure
|
|
951.489 |
897.407 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
NA |
(0.46) |
(4.80)
|
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
NA |
(0.41) |
(7.57)
|
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
NA |
(0.24) |
(4.16)
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
NA |
(0.01) |
(0.09)
|
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
2.34 |
1.64 |
1.52
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
6.77 |
5.02 |
3.81
|
LOCAL AGENCY FURTHER
INFORMATION
Fixed Assets :
Ř Land
Ř Building
Ř Plant and Machinery
Ř Furniture and Fixture
Ř Computer
Ř Vehicles
Business :
Subject is a SEI CMM Level 3 Company, Providing Networking
solutions, communication products, Embedded Software Data/Voice/IP Products,
Design and Engineering SOLUTIONS, enterprise Solutions/E-Commerce, Call –
Centre Based Solutions, IVR/VMS Integration, Wireless Dect + Optic Fibre
Connectivity, IP/Voip Solutions etc.
It has a marketing and service arrangement with
It has been licensed by the Government of India to offer
cellular telephony services in
It imports 28% raw materials, Components etc. for own use
IMFORMATION TECHNOLOGY SERVICES
v
Telecom
Business Solutions
v
E-Business
Solutions
v
v
Call
Centre Solutions
OTHER PRODUCTS
v
Push
Button Telephones
v
Electronic
Private Automatic Branch Exchange
Power Line Carrier Communication Equipment
For
manufacturing operations, it has absorbed technology from:
v
Dowtry
RFC Industries Inc;
v
Alcatel
Business Systems,
v
Sanyo
Electric Company,
v
McCAW;
v
Trench
Electric Company,
v
CETT,
France
v
Toshiba
Corporation,
v
Harris
Corporation/Harriss Digital Telephone Systems,
v
Analog
Devices Inc;
v
LHS
Verwltungs GMBH & Company,
For
Software/Technical Services, has alliances with:
v
Sharp
Corporation,
v
Scientific
v
v
v
v
ZN
v
It is in
trade terms with:
v
Softnetworks
and Technologies LLC, U.S.A
Profile :
The company provides cutting-edge solutions, services and
products in the broader areas of Enterprise Communications, Digital Consumer
Electronics and Information Technology, with a dedicated focus towards hardware
and software solutions for highly competitive global markets.
Specific offerings span the areas of Application Software,
Embedded Systems & Software, CAD/CAM Services, Wide Area Networking
Solutions and Products for the Enterprise & Utility.
An integral entity within the larger Billion Dollar BPL
Group of Companies, the company has over the years developed distinct
competencies in cutting edge technologies and diverse application domains drawn
from the successful implementation of complex projects in highly competitive
global markets like the
Right from the state-of-the-art Software and Technology
development facility at Bangalore to the modern manufacturing operations that
back technology initiatives, all processes within the company are aligned
towards the highest quality standards and formally certified to ISO 9001 by
Bureau Veritas Quality International; Holland.
Enterprise
Communication Products
ECSG provides solutions to address the communication needs
of customers across
The company produces a wide range of innovative, high-tech
customer premises equipment, including phones, answering machines and
stand-alone caller ID units.
Personal Computers
Cybercom offers flexible configuration personal computers,
budgetary options and the solid backing of BPL. Now go ahead and show the
world.
Transmission and Terminal
Equipments
Transmission and Terminal Equipment's are a unique and
economical way of creating a private communication network for voice and data
transmission over power transmission lines using telephone exchanges. The company
manufactures advanced IC versions of Transmission & Terminal Products. It
has recently introduced state-of-the-art DSP-based Transmission & Terminal
Products
Business Operations:
This year was particularly good for PLCC Division, which has
recorded a turnover of Rs. 290 millions and has helped the company to make
marginal profit. Similarly though there was stiff competition with the launch
of new models and introduction of trading of Mobile Hand sets the Phone
Business has gone yp from Rs. 170 millions to Rs. 260 millions. The PABX
business was more or less stagment and company was very selective because of
drop in margin. The order received by ANGC Division for digital Microwave Links
for ONGC during year. Due to the financials constraints the company could not
invest in IT marketing expenses and developmental projects. And hence the
company has achieved a turnover of only Rs. 47.700 millions as against Rs.
57.700 millions in the information technology croup.
Future Outlook:
The future outlook of the company will be to considered its
core business for better profitability and do selective trading business where
margins are higher.
Subsidiary Company:
The company’s subsidiary-BPL Systems Limited LLC
Form 8 Particular for creation or modification of
charges
|
1) Date and description of instrument creating the change |
4th Day of October, 2005- Deed of Hypothecation
executed between the company and ICICI Bank Limited (Hereinafter Referred to
as ICICI Bank Memorandum of entry) Constructive Delivery dated 4/10/2005 Joint mortgage by deposit of title deeds in respect of
immovable properties of the company |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the
securities of charge |
CDR package which was sanctioned on 19th day of
March 2004 the term dabt was restructured to Rs. 568.70 million
Rs. 568.700 millions hereinafter referred to as ‘the
restructured amount’ ICICI Bank, IDBI Karnataka Bank Canara Bank, State Bank
of Mysore, Central Bank of India, UTI Bank, Centurion bank are hereinafter
collectively referred too as “the lender” |
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|
3) Short particular of the property charged. If the
property acquired is subject to charge, date of the acquired of the property
should be given |
Schedule I Part A
(Description of the immovable properties) On First Charge Basis : All those pieces and parcels of land situate and lying at
Karingarapally, Amsom Desom in Paslakkad Taluka in the registration sub
district of Palakkad in the state of Kerala as set out below:
All those pieces and parcels of land situate and lying at
Karingarapally Amsom Desom in
Paslakkad Taluka in the registration sub district of Palakkad in the state of
Kerala as set out below:
Together with all building and structures thereon all
plant and machinery attached to the earth permanently fastened to anything
attached to the earth both present and future. Schedule I Part B (Description of the immovable properties) All those pieces and parcels of land situate and lying at
Karingarapally Amsom Desom in
Paslakkad Taluka in the registration sub district of Palakkad in the state of
Kerala as set out below:
Together with all building and structures thereon all
plant and machinery attached to the earth permanently fastened to anything
attached to the earth both present and future. Schedule II
(Description of the moveable properties) The whole of movable properties of the company including
its movable plant and machinery, machinery spares tools and accessories and
other moveable both present and future whether installed or not and whether
now lying losses or in cases or which are now lying or stored in or about or
shall hereafter from time to time during the continuance of the security
these present be brought into or upon or be stored or be in or about the
company’s factories premises and Godown situate at systems House Palakkad,
Kerala 678007 or wherever else the same may be held by any party to the order
or disposition of the company or in the course of transit or on high seas or
on order or delivery however and whatsoever the possession of the company and
either by way of substitution or addition subject to prior charges created
and or to be created in favour of the company’s bankers on the company stock
of raw material semi finished and finished good stores and spares not
relating to Plant and Machinery, Consumable stores and spares Bills
receivable and Book debts and all other movable as may be agreed to by the
lender for securing the borrowing for working capital requirements in the
ordinary course of business. |
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|
List of the terms and conditions and extent and operation
of the charge. |
In pursuance of the CDR and in consideration of the
lenders having agreed to restructure the existing loans of the borrower for
the purpose and subject to the terms and conditions set out in the CDR the
borrower shall repay the restructured amount to the lenders and shall pay all
interest front end fee liquidation damages premia on prepayments on redemption costs
charges expenses and all other monies as stipulated and in the manner set out
in the CDR and shall duly observe and per form all amended from time to time.
The borrower shall at its expenses keep the said goods in
marketable and good condition and insure the same in the joint names of the
borrower and lender. The nominees of the lenders shall without any notice and
at the risk and expenses of the borrower be entitled at all times to enter
any place where the said goods are kept. |
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|
Name and Address and description of the person entitled to
the charge. |
ICICI Bank Limited Bandra Kurla Complex, Mumbai-400051 For itself and acting for industrial Development Bank of
India, IDBI Karnataka Bank Canara Bank, State Bank of Mysore, Central Bank of
India, UTI Bank and Centurion bank |
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|
Date and brief
description of instrument modifying the charge |
Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
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|
1) Date and description of instrument creating the change |
Joint Deed of Hypothecation executed on 27/12/1990 and
Agreement dated 27/12/90 executed between BPL system and Projects Limited and
State ICICI Bank, IDBI Karnataka Bank Canara Bank, State Bank of Mysore,
Central Bank of India, UTI Bank, Centurion bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the
securities of charge |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 Whole of the current assets of the Borrower namely,
stock of raw material stock in process, semi finished and finished good
stores and spares not relating to Plant and Machinery, Consumable stores and
spares Bills receivable and Book debts and all other movable both present and
future whether now lying lose or in case or which are now lying or stored in
or about or shall hereinafter from time to time during the continuance of the
security of these presence be brought into or upon or be stored or be in or
about the Borrowers factories premises and go downs situated at Bangalore
/Palatka in the State of Karnataka / Kerala or whoever else the same may be
or be held by any course of transit or on high seas on or order of delivery
however and whatsoever in the possession by way of substitution or
addition. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
List of the terms and conditions and extent and operation
of the charge. |
Principle repayable on demand details of interest/
commission are as per schedule attached herewith |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name and Address and description of the person entitled to
the charge. |
Ř State Bank of Ř Canara Bank, Cantonment, Ř UCO Bank, Big Bazar, Palakkad Ř State Bank of |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date and brief
description of instrument modifying the charge |
13.12.2001 Supplemental Common Hypothecation
Agreement between BPL system and
Projects Limited and Canara Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 Various working capital limits sanctioned by Canara
Bank has been modified as agreement dated 13.12.2001 |
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|
1) Date and description of instrument creating the change |
Deed of Hypothecation dated 22nd October, 1997
executed by BPL Telecom Limited (Hereinafter Referred to as ‘the Borrower’ in
favour of the Industrial Credit and Investment Corporation of India Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
The whole of the movable properties of the Borrower
situate at Palakkad, Kerala including the Borrowers movable plant and
Machinery, machinery spares, tools and accessories and other movable both
future. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
List of the terms and conditions and extent and operation
of the charge. |
In consideration of the lender having agreed to lend and
advance to the Borrower the Loan, agreement and declaration by the Borrower
inter alia as follows, Covenant by the Borrower to repay the Loan and pay
interest and all other monies to the Lender in the manner set out in Loan
Agreement between the Borrower and the Lender and to comply with the terms
and conditions of the said Loan Agreement. The said Good were thereby hypothecated, inter alia, to
the Lender as and way of First Charges as security for the be charades with
the repayment of the loan with all interest additional interest, liquidated
damages premier on prepayments or on redemption costs charges and expenses
and all other monies including any increase as a result of exchanges of
foreign currencies involved payable by the Borrower to the lender in respect
thereof provided that the charge or charges created and or to created by the
Borrower in favour of Its bankers on its stocks of raw materials semi finished
and finished good stores and spares not relating to Plant and Machinery,
Consumable stores and spares and such other movable as may be agreed to by
the lender for securing the borrowing for working capital requirement in the
ordinary course of business of the borrower and On specific assets excluding charges in favour of the
lender for its assets credit
assistance of Rs. 1400 millions industrial development Bank of India (IDBI)
for its assets credit assistance of Rs. 5000 millions and Kerala state
Industrial Development corporation for its terms loan of Rs. 8.000 millions The borrower to keep the said good in marketable and good
condition and also insured as provided therein. The borrower to duly repay to the lender at Mumbai
Bangalore the loan with interest and other monies as mentioned above payble
by the Borrower to the lender in respect thereof. Power of entry power to take charge and or possession of
size, recover, receive, appoint receivers of and remove and or sale by public
auction or private contract dispatch for realization or otherwise dispose of
or deal with all or any part of the said goods etc,. as providing therein |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name and Address and description of the person entitled to
the charge. |
The industrial credit and investment corporation of India
Limited 163 Backbay Reclamation Mumbai 400020 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date and brief
description of instrument modifying the charge |
No instrument was executed but on the 14th day
of July 1998 a mortgage was created by
the Borrower in favour of the Lender and the lender acting for itself in
respect of borrower immoveable properties situate at Kargarapally in order to create a security
there on as and by of mortage by deposit of title deeds pursuant to the
resolutions passed by the borrower on 18th day of September, 1997 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 loan together with interest thereon at the agreed
rates additional interest future interest liquidated damages compounded
interest commitment charged premia on prepayment costs, charges, expenses and other monies
payable by the borrower to the lender in respect thereof secured under the
deed of Hypothecation dated 22nd October, 1997 is also now secured
inter alia by the said mortgage by deposit of title deeds in respect of the
Borrowers immovable properties situated of Karingarapally. Amsom Desom,
Palakkad in the State of Kerala together with all building and structure
thereon and all plant and machinery attached to the earth or permanently
fastened to anything attached to the earth more particularly describe in the
Annexure hereto. ss |
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|
1) Date and description of instrument creating the change |
Deed of Hypothecation dated 22nd October, 1997
executed by BPL Telecom Limited (Hereinafter Referred to as ‘the Borrower’ in
favour of the Industrial Credit and Investment Corporation of India Limited a
copy of which is enclosed. |
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|
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 |
The whole of the movable properties of the Borrower
situate at Palakkad, Kerala including the Borrowers movable plant and
Machinery, machinery spares, tools and accessories and other movable both
future short particulars whereof are given in the annexure. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
List of the terms and conditions and extent and operation
of the charge. |
In consideration of the lender having agreed to lend and
advance to the Borrower the Loan, agreement and declaration by the Borrower
inter alia as follows, Covenant by the Borrower to repay the Loan and pay
interest and all other monies to the Lender in the manner set out in Loan
Agreement between the Borrower and the Lender and to comply with the terms
and conditions of the said Loan Agreement. The said Good were thereby hypothecated, inter alia, to
the Lender as and way of First Charges as security for the be charades with
the repayment of the loan with all interest additional interest, liquidated
damages premier on prepayments or on redemption costs charges and expenses
and all other monies including any increase as a result of exchanges of
foreign currencies involved payable by the Borrower to the lender in respect
thereof provided that the charge or charges created and or to created by the
Borrower in favour of Its bankers on its stocks of raw materials semi finished
and finished good stores and spares not relating to Plant and Machinery,
Consumable stores and spares and such other movable as may be agreed to by
the lender for securing the borrowing for working capital requirement in the
ordinary course of business of the borrower and On specific assets excluding charges in favour of the
lender for its assets credit
assistance of Rs. 1400 millions industrial development Bank of India (IDBI)
for its assets credit assistance of Rs. 5000 millions and Kerala state
Industrial Development corporation for its terms loan of Rs. 8.000 millions The borrower to keep the said good in marketable and good
condition and also insured as provided therein. The borrower to duly repay to the lender at Mumbai
Bangalore the loan with interest and other monies as mentioned above payble
by the Borrower to the lender in respect thereof. Power of entry power to take charge and or possession of
size, recover, receive, appoint receivers of and remove and or sale by public
auction or private contract dispatch for realization or otherwise dispose of
or deal with all or any part of the said goods etc,. as providing therein |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name and Address and description of the person entitled to
the charge. |
The industrial credit and investment corporation of India
Limited 163 Backbay Reclamation Mumbai 400020 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date and brief
description of instrument modifying the charge |
Nil |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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. |
Nil |
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|
1) Date and description of instrument creating the change |
Joint Deed of Hypothecation executed on 27/12/1990 and
Agreement dated 27/12/90 executed between BPL system and Projects Limited and
State Bank of India, Canara Bank, UCO Bank and State Bank of |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the
securities of charge |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 Whole of the current assets of the Borrower namely,
stock of raw material stock in process, semi finished and finished good
stores and spares not relating to Plant and Machinery, Consumable stores and
spares Bills receivable and Book debts and all other movable both present and
future whether now lying lose or in case or which are now lying or stored in
or about or shall hereinafter from time to time during the continuance of the
security of these presence be brought into or upon or be stored or be in or
about the Borrowers factories premises and go downs situated at Bangalore
/Palatka in the State of Karnataka / Kerala or whoever else the same may be
or be held by any course of transit or on high seas on or order of delivery
however and whatsoever in the possession by way of substitution or
addition. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
List of the terms and conditions and extent and operation
of the charge. |
Principle repayable on demand details of interest/
commission are as per schedule attached herewith |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name and Address and description of the person entitled to
the charge. |
Ř State Bank of Ř Canara Bank, Cantonment, Ř UCO Bank, Big Bazar, Palakkad Ř State Bank of |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date and brief
description of instrument modifying the charge |
2nd March 1994 Supplemental Common
Hypothecation Agreement between BPL
system and Projects Limited and Bank of India |
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|
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. |
Thus the total limits sanctioned by the consortium banks
have been enhanced from 301.500 millions to 338.500 millions. |
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|
1) Date and description of instrument creating the change |
4th Day of October, 2005- Deed of Hypothecation
executed between the company and ICICI Bank Limited (Hereinafter Referred to
as ICICI Bank Memorandum of entry) Constructive Delivery dated 4/10/2005 Joint mortgage by deposit of title deeds in respect of
immovable properties of the company |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the
securities of charge |
CDR package which was sanctioned on 19th day of
March 2004 the term dabt was restructured to Rs. 568.70 million
Rs. 568.700 millions hereinafter referred to as ‘the
restructured amount’ ICICI Bank, IDBI Karnataka Bank Canara Bank, State Bank
of Mysore, Central Bank of India, UTI Bank, Centurion bank are hereinafter
collectively referred too as “the lender” |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
Schedule I Part A
(Description of the immovable properties) On First Charge Basis : All those pieces and parcels of land situate and lying at
Karingarapally, Amsom Desom in Paslakkad Taluka in the registration sub
district of Palakkad in the state of Kerala as set out below:
All those pieces and parcels of land situate and lying at
Karingarapally Amsom Desom in
Paslakkad Taluka in the registration sub district of Palakkad in the state of
Kerala as set out below:
Together with all building and structures thereon all
plant and machinery attached to the earth permanently fastened to anything
attached to the earth both present and future. Schedule I Part B (Description of the immovable properties) All those pieces and parcels of land situate and lying at
Karingarapally Amsom Desom in
Paslakkad Taluka in the registration sub district of Palakkad in the state of
Kerala as set out below:
Together with all building and structures thereon all
plant and machinery attached to the earth permanently fastened to anything
attached to the earth both present and future. The whole of movable properties of the company including
its movable plant and machinery, machinery spares tools and accessories and
other moveable both present and future whether installed or not and whether
now lying losses or in cases or which are now lying or stored in or about or
shall hereafter from time to time during the continuance of the security
these present be brought into or upon or be stored or be in or about the
company’s factories premises and Godown situate at systems House Palakkad, Kerala
678007 or wherever else the same may be held by any party to the order or
disposition of the company or in the course of transit or on high seas or on
order or delivery however and whatsoever the possession of the company and
either by way of substitution or addition subject to prior charges created
and or to be created in favour of the company’s bankers on the company stock
of raw material semi finished and finished good stores and spares not
relating to Plant and Machinery, Consumable stores and spares Bills
receivable and Book debts and all other movable as may be agreed to by the
lender for securing the borrowing for working capital requirements in the
ordinary course of business. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
List of the terms and conditions and extent and operation
of the charge. |
In pursuance of the CDR and in consideration of the
lenders having agreed to restructure the existing loans of the borrower for
the purpose and subject to the terms and conditions set out in the CDR the
borrower shall repay the restructured amount to the lenders and shall pay all
interest front end fee liquidation damages premia on prepayments on redemption costs
charges expenses and all other monies as stipulated and in the manner set out
in the CDR and shall duly observe and per form all amended from time to time.
The borrower shall at its expenses keep the said goods in
marketable and good condition and insure the same in the joint names of the
borrower and lender. The nominees of the lenders shall without any notice and
at the risk and expenses of the borrower be entitled at all times to enter
any place where the said goods are kept. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name and Address and description of the person entitled to
the charge. |
ICICI Bank Limited Bandra Kurla Complex, Mumbai-400051 For itself and acting for industrial Development Bank of
India, IDBI Karnataka Bank Canara Bank, State Bank of Mysore, Central Bank of
India, UTI Bank and Centurion bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date and brief
description of instrument modifying the charge |
Not Applicable |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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,
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.40.47 |
|
|
1 |
Rs.80.28 |
|
Euro |
1 |
Rs.54.43 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
4 |
|
OPERATING
SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT
LINES |
1~10 |
3 |
|
--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 |
|
28 |
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 |