MIRA
INFORM REPORT
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Report Date : |
28th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
LOTUS CONTROLS PRIVATE LIMITED |
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Registered Office : |
125/ 126, Satyam Estate, Opp. SNDT, Off Karve Road, Erandwane, Pune –
411 038, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
Nil |
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Date of Incorporation : |
20.03.2001 |
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Com. Reg. No.: |
11-15982 |
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CIN No.: [Company
Identification No.] |
U31200PN2001PTC015982 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEL03608D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Carry on the business of manufacturing, assembling, processing,
designing, fabricating, servicing, buying, selling, importing, exporting and otherwise
trading, dealing in and providing consultancy services in all types of
electrical and electronics products, computers and computer peripherals,
uninterruptible power supply
symptoms, voltage stabilizers, components, spares parts, etc. To employ experts to investigate and examine into condition,
prospectus, value, character and circumstances of any business concern and
undertaking and generally of any assets, property and rights. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
-- |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though subject is an old company its financials are missing with the Government.
No further details regarding the company can be made available. The company
can be considered for any business dealings on fully safe and secured trade
terms and conditions. |
LOCATIONS
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Registered Office : |
125/ 126, Satyam Estate, Opp. SNDT, Off Karve Road, Erandwane, Pune –
411 038, Maharashtra, India |
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Tel. No.: |
91-20-25466769 |
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Fax No.: |
91-20-25466769 |
DIRECTORS
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Name : |
Mr. Vinod Ratanshi Satra |
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Designation : |
Director |
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Address : |
249/ 11, Fatima mansion, Station Road, Wadala, Mumbai – 400 031,
Maharashtra, India |
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Name : |
Mrs. Sujata Sanjay Tokey |
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Designation : |
Director |
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Address : |
Flat No. 39 A, Shreeniwas Apartment, Manisha Housing Society, Karve
Nagar, Pune – 411 052, Maharashtra, India |
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Name : |
Mr. Sanjay Narottam Tokey |
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Designation : |
Director |
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Address : |
Flat No. 39 A, Shreeniwas Apartment, Manisha Housing Society, Karve
Nagar, Pune – 411 052, Maharashtra, India |
SHAREHOLDING
PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Vinod Ratanshi Satra |
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5000 |
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Mrs. Sujata Sanjay Tokey |
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2500 |
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Mr. Sanjay Narottam Tokey |
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2500 |
BUSINESS DETAILS
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Line of Business : |
Carry on the business of manufacturing, assembling, processing,
designing, fabricating, servicing, buying, selling, importing, exporting and
otherwise trading, dealing in and providing consultancy services in all types
of electrical and electronics products, computers and computer peripherals,
uninterruptible power supply
symptoms, voltage stabilizers, components, spares parts, etc. To employ experts to investigate and examine into condition,
prospectus, value, character and circumstances of any business concern and
undertaking and generally of any assets, property and rights. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
-- |
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Bankers : |
Ganesh Nagar Branch, Pune
– 411 052, Maharashtra, India |
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Banking
Relations : |
-- |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- |
Rs. 0.100 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Available |
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FINANCIAL DATA
[all figures are in Rupees Millions]
Nil
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
Name of the Company : Lotus Controls Private
Limited
Presented by : -- Saraswat Co-Operative Bank Limited
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1. Date and
description of the instrument creating or evidencing the charge
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Equitable
Mortgage by way of deposit of title deeds dated 31.03.2004 |
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2. Amount secured
by the charge /amount owing on security of the charge |
Rs. 0.265 millions
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3. Short
Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
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All that piece
and parcel of land Bearing No. 365 in ‘J’ Block admeasuring about 540 sq.
meters togetherwith structure standing thereon admeasuring about 175.20 sq.
meters situated at MIDC, Bhosari, Taluka Haveli, District Pune, Maharashtra,
togetherwith all leasehold rights in the and all easementary rights, title
and interest annexed and structure constructed and / or to be constructed
thereon with all fixtures, furniture and fittings and plant and machinery
therein ambeded in the earth. |
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4. Gist of the
terms and conditions and extent and operation of the charge. |
Type of Facility
: Term Loan Other Terms and
Conditions : as per agreement |
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5. Names, address
and description of the persons entitled to charge |
Saraswat
C-Operative Bank Limited Ganesh Nagar
Branch, Pune – 411 052, Maharashtra, India |
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6. Date and brief
description of instrument modifying the charge |
Agreement of
hypothecation of movable property dated 02.04.2004 |
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7. Particular of modification specifying the terms and conditions or the
extent or operation of the charge in
which modification is made and
the details of modification |
The original
charge of term loan dated 31.03.2004 of Rs. 0.265 millions. Now as per
hypothecation agreement, the additional security was provided for the same Term Loan: The Borrower/s
doth do hereby hypothecated to and in favour of the bank all tangible movable
property (both present and future) belonging to the borrower/s and lying and
being at the borrower’s/s place of business at 125/126, Satyam Estate, Opp
Karve Road, Pune or elsewhere. Rate of Interest:
13.50% p.a. or at such rate as may be fixed by the bank from time to time. Repayment: by 36
installments |
Name of the Company : Lotus Controls Private
Limited
Presented by : -- Saraswat Co-Operative Bank Limited
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1. Date and
description of the instrument creating or evidencing the charge
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Agreement of
hypothecation of movable property dated 08.05.2003. Agreement of
further charge dated 08.05.2003. Equitable Mortgage
by way of deposit of title deeds dated 08.05.2003 (all the
instruments create a single charge) |
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2. Amount secured
by the charge /amount owing on security of the charge |
Rs. 4.000
millions |
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3. Short
Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
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The Borrower/s
doth do hereby hypothecated to and in favour of the bank all tangible movable
property (both present and future) belonging to the borrower/s and lying and
being at the borrower’s/s place of business at 125/126, Satyam Estate, Opp
Karve Road, Pune or elsewhere. The Borrower/s
doth hereby hypothecation to and in favour of the bank by way of first charge
all the outstanding book debts, moneys receivables, claims and approved book
debts, due to the borrower/s and bills which are now due and owing or which
may at any time security become due and owing to the borrower/s in the course
of its business. All that piece
and parcel of land Bearing No. 365 in ‘J’ Block admeasuring about 540 sq.
meters togetherwith structure standing thereon admeasuring about 175.20 sq.
meters situated at MIDC, Bhosari, Taluka Haveli, District Pune, Maharashtra,
togetherwith all leasehold rights in the and all easementary rights, title
and interest annexed thereto. |
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4. Gist of the
terms and conditions and extent and operation of the charge. |
Type of Facility
: Cash Credit
: Rs. 3.000 millions Bank Guarantee :
Rs. 1.000 millions Total Rs. 4.000 millions |
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5. Names, address
and description of the persons entitled to charge |
Saraswat
C-Operative Bank Limited Ganesh Nagar
Branch, Pune – 411 052, Maharashtra, India |
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6. Date and brief
description of instrument modifying the charge |
Deed of
Hypothecation for additional advanced dated 31.03.2004. Agreement of
further charge dated 31.03.2004. Equitable
Mortgage by deposit of title deeds dated 31.03.2004. (all the
instruments create a single charge) |
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7. Particular of modification specifying the terms and conditions or the
extent or operation of the charge in
which modification is made and
the details of modification |
The original charge
for Cash Credit limit of Rs. 3.000 millions and Bank Guarantee limit of Rs.
1.000 millions dated 08.05.2003 was duly registered on 30.05.2003 vide Entry
No. 8 and 9. Now by way of
aforesaid agreements, the cash credit limit was enhanced by Rs. 4.500
millions making the aggregate limit to Rs. 7.500 millions and the bank
guarantee limit was enhanced by Rs. 1.000 millions making the aggregate limit
to Rs. 2.000 millions. And by way of the
Equitable Mortgage by Deposit of Title Deeds, additional security of
immovable property, already mortgaged was extended to cover additional cash
credit and additional bank guarantee limit making total limit of Rs. 9.500
millions. Rate of Interest:
13.50% p.a. or at such rate as may be specified by the bank from time to
time. Other terms and
conditions: as per agreement. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.31 |
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UK Pound |
1 |
Rs.86.96 |
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Euro |
1 |
Rs.58.58 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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17 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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