MIRA INFORM REPORT
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Report Date : |
07.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
TYCO ELECTRONICS CORPORATION INDIA PRIVATE LIMITED |
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Formerly Known As : |
AMP INDIA LIMITED |
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Registered Office : |
TE Park, 22B Doddenakundi, 2nd Phase, Whitefield Road,
Bangalore-560048, Karnataka, India |
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Country : |
India |
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Financials (as on) : |
31-03-2005 |
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Date of Incorporation : |
07-12-1993 |
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Com. Reg. No.: |
08-15007 |
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Cin. No.: |
U31909KA1993PTC015007 |
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TAN No.: (Tax Deduction & Collection Account No.) |
BLRT02262B |
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PAN No.: (Permanent Account No.) |
AABCT7374C |
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Legal Form : |
A Private Limited Liability Company |
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Line of Business : |
Manufacturers, Importers and Exporters of Wire and Cable for
Networking, Communication, Household Appliances, Power Transmission and Distribution
Materials, Automotive Wiring Systems, Electrical and Electronic Components,
Accessories, Assemblies, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 6500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Their
trade relations are reported as fair. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Head Office : |
TE Park, 22B Doddenakundi, 2nd Phase, Whitefield Road,
Bangalore-560048, Karnataka, India |
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Tel. No.: |
91-80-40115000/401/28540800 |
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Fax No.: |
91-80-40115001/401/28540820 |
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Area : |
3000 Sq. fts |
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Location : |
Leased |
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Factory : |
No. 4, Maruthi Industrial Estate, Hoody Rajapalya, Whitefield Main
Road, Mahadevapura, Bangalore – 560 048, Karnataka |
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Tel. No.: |
91-80-2645 3014 / 2841 0200 |
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Fax No.: |
91-80-2845 3038 / 2841 0210 |
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Branches : |
1st Floor, No-5, Shalimar House Comm, Center Saket-110017,
Delhi |
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Tel. No.: |
91-11-26864107 |
DIRECTORS
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Name : |
Mr. Samir Inamdar |
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Designation : |
Managing Director |
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Name : |
Mr. Markos V. |
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Designation : |
Director |
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Name : |
Mr. Mahesh Devaiah |
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Designation : |
Director |
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Address : |
1, Ferndale Apartments, 3 Artillery Road, Bangalore-560017, Karnataka,
India |
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Date of Birth/Age : |
23/10/1950 |
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Date of Appointment : |
24/09/1999 |
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Name : |
Mrs. Revathy Ashok |
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Designation : |
Director – Business Development and Finance
Controller |
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Name : |
Mr. Prince Mathew |
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Designation : |
Industry Manager |
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Name : |
Mr. K. V. Subbaiah |
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Designation : |
Operational Director |
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Address : |
No. 1330 13th Cross, 1st Floor, Indira Nagar, 2nd
Stage, Bangalore, Karnataka - 560038 |
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Date of Birth/Age : |
21/06/1959 |
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Date of Appointment : |
01/12/2002 |
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Name : |
Mr. KK Shetty |
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Designation : |
Industry Manager |
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Name : |
Mr. Juerg Frischknecht |
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Designation : |
Director |
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Address : |
W. Wolfensberger Stresses 14, 9424, Reinbeck, Switzerland |
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Date of Birth/Age : |
09/06/1959 |
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Date of Appointment : |
06/08/2003 |
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Name : |
Mr. Srinivasan K |
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Designation : |
Director |
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Address : |
1987, Newthppasandra, Hal 3rd Stage, Bangalore – 560075,
Karnataka, India |
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Date of Birth/Age : |
09/08/0955 |
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Date of Appointment : |
15/04/2005 |
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KEY EXECUTIVES
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Name : |
Mr. Anandswaroop Upadhayay |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. P. Sunil |
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Designation : |
Company Secretary |
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Address : |
785, 1st Block, 1st Cross 3rd Main,
Hal 3rd Stage, Bangalore-560075, Karnataka |
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Date of Birth/Age : |
07/04/1971 |
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Date of Appointment : |
24/07/2000 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of
Holding |
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Tyco Electronic Corporation Inc., U.S.A. |
44742391 |
100.000 |
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Raychem International Manufacturing
Corporation |
3 |
0.000 |
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Total |
44742394 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Importers and Exporters of Wire and Cable for
Networking, Communication, Household Appliances, Power Transmission and
Distribution Materials, Automotive Wiring Systems, Electrical and Electronic
Components, Accessories, Assemblies, etc. |
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Products : |
Ř Amplifiers Ř Antennas Ř Application
Tooling Ř Batteries Ř Cable
Identification Ř Circuit
Protection Devices Ř Coax Accessories Ř Connectors and
Interconnection Products Ř Contractors Ř Energy, Power,
Industrial and Utility Products, Cable Accessories Ř Connectors and
Fittings Ř Identification
Systems Ř Mixers and
Modulators Ř Molded Parts Ř Networking and
Premises Products Ř Passive
Components Ř Power Modules Ř Printed Circuit
Boards and Assemblies Ř Protection
Products Ř Relays Ř Semiconductors Ř Environmental
Sealing Ř Fibre Optic
Products Ř Filters Ř Gel Products Ř GPS Ř Harnessing Ř Heat-Shrinkable
Tubing Ř Heat Sinks Ř Hybrids Foundry Services
Ř Materials Ř Electrical
Equipment Ř Insulation and
Protection RF and Microwave
Ř Sensors Ř Services Ř Solenoids Ř Switches, Shunts
and Attenuates Ř Telecom Products
Ř Touchsreen
Products Ř Timers Ř Transformer Ř Voltage Control
Oscillators and Synthesizers Ř Wire, Cable and
Cable Assemblies |
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Brand Names : |
Ř Agastat Ř Alcoswitch Ř Area Lighting
Research Ř AMP Ř Ditel Ř Dorman Smith Ř Dulmison Ř Mondragon Ř Oeg Ř Onesource
Building Techologies Ř Pinacl Ř AMP Netconnect Ř ASG Ř Axicom Ř B and HDFC Bank
Limited Ř Elastometric
Technologies Ř Elcon Products Ř Elo Touchsystems Ř Fayser Racks Ř Pinacl Solution Ř Poter and
Brumfield Ř Power Systems Ř Precision
Interconnect Ř Rangestar
Wireless Ř Bowthorpe EMP Ř Buchanan Ř Chip Coolers Ř CII Ř Fisk Ř Greenpar Ř Guro Ř Hellstern Ř Raychem Ř Corcom Ř Hartman Ř Kilovac Ř HTS neyday idento Ř Jackmoon Ř Schrack Ř Simel Ř Stappard Howes Ř Tdi Batteries Ř Tyco electronics
Ř Coev magnetics Ř Comacc Ř Critchley Ř Crompton
Instruments Ř m/a-com Ř Madison cable Ř Microdot
connectors Ř Dek Ř Molded
Interconnect Device Ř West hyde
enclosures |
PRODUCTION STATUS
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Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Connectors |
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No. in millions |
344.372 |
119.344 |
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Cable Assembly |
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No. in millions |
11.692 |
7.380 |
GENERAL
INFORMATION
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Suppliers : |
v Nova Opto
International Company Limited, China v Best Media Group
Limited, China v Meilin
Industrial (Hong Kong) Limited, Hong Kong SAR |
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Customers : |
Samsung |
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No. of Employees : |
Factory – 450, Office – 50. Total – 500 |
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Bankers : |
Ř Corporation Bank
Industrial Finance Branch, Queens Road, Bangalore – 560 001, Karnataka Ř Hongkong Bank Manipal Centre, Dickenson Road, Bangalore – 560 003,
Karnataka Ř Societe Generale
Magarath Road, Bangalore – 560 001,
Karnataka Ř HongKong Bank Dickenson Road, Bangalore – 560 042,
Karnataka Ř Standard
Chartered Grindlays Bank Limited M.G. Road, Bangalore, Karnataka |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Deloitte Haskins and Sells Chartered Accountants Deloitte Centre, Anchorage II, 100/2 Richmond Road, Bangalore-560025,
India |
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Tel No.: |
91-80-55276000 |
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Fax No.: |
91-80-55276011 |
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Associates : |
Within India : v Tyco Electronic
Corporation, USA. v TEI Technologies
Private Limited v Tyco Electronic
Tools India Private Limited v Automotive
Wiring Systems Private Limited v Tyco Fire and
Security Private Limited v Precision
Inteconnect India Private Limited v Raychem RPG
Limited Outside India : v AMP Deutschland
Gmbh v AMP
Manufacturing Korea Limited v AMP Shanghai
Limited v AMP Singapore
Pte. Limited v AMP Trading B.
V. v AMP – Simel v Fai Technology
Limited v M/A Com Inc v Pinacle
Communication Systems Limited v PT Tyco
Electronics Indonesia v Shenzhen
Original Electric Company v Shunde Tyco
Electronics Limited v Tyco Electronic
Brasil LTA v Tyco Electronic
Raychem, Belgium v Tyco Electronic
HK Limited v Tyco Electronic
Malaysia SD v Tyco Electronic
Schweiz AG v Tyco Electronic
AMP Espana SA v Tyco Electronic
AMP Gmbh v Tyco Electronic
AMP Italia SPA v Tyco Electronic
AMP K K v Tyco Electronic
Amp Shanghai Limited v Tyco Electronic
Argentina S A v Tyco Electronic
Canada Limited v Tyco Electronic
Czech SRO AMP De France v Tyco Electronic
da Amaznia v Tyco Electronic
ec Gmbh and Company v Tyco Electronic
France SAS v Tyco Electronic
HK Limited v Tyco Electronic
Hungary KFT v Tyco Electronic
Logistics AG v Tyco Electronic
Mexico SA v Tyco Electronic
Middle East FZE v Tyco Electronic
Nederland BV v Tyco Electronic
New Zealand Limited v Tyco Electronic
Polska SPZ v Tyco Electronic
Pty Limited v Tyco Electronic
Raychem Gmbh v Tyco Electronic
Raychem NV v Tyco Electronic
Raychem, SA v Tyco Electronic
SA Private Limited v Tyco Electronic
Shanghai CLT v Tyco Electronic
UK Limited v Tyco Electronic
Dingguan Limited v Tyco Electro-
Electronic Limited v Tyco Holding
Bermuda Limited v Whitekar
Corporation v Precision
Interconnect USA v AMP Shunde
Connector Limited v AMP Thailand
Limited v AMP Holland BV v Tyco Electronic
Augat AG v Tyco Electronic
Austria GMBH v Tyco Electronic
Exports SARL v Tyco Electronic
Columbia Limited v Tyco Electronic
Export v Tyco
Electromechanical Components v AMP Services v Tyco Electronic
UK Limited (Cromton IN) |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
55,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 550.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
44,742,394 |
Equity Shares |
Rs. 10/- each |
Rs. 447.424
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
447.424 |
447.424 |
447.400 |
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3] Reserves & Surplus |
1280.603 |
989.652 |
661.400 |
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NETWORTH
|
1728.027 |
1437.076 |
1108.800 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING
|
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
21.200 |
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TOTAL
|
1728.027 |
1437.076 |
1130.000 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
230.614 |
137.077 |
94.800 |
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Capital work-in-progress
|
111.230 |
14.298 |
10.000 |
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INVESTMENT
|
85.064 |
85.064 |
85.100 |
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DEFERREX TAX ASSETS |
36.664 |
22.864 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
|
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Inventories
|
899.453 |
399.005 |
295.700 |
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Sundry Debtors
|
618.871 |
479.167 |
399.700 |
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Cash & Bank Balances
|
114.653 |
88.372 |
480.100 |
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Loans & Advances
|
327.402 |
592.165 |
58.400 |
Total
Current Assets
|
1960.379 |
1558.709 |
1233.900 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
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Current Liabilities |
674.488
|
371.627 |
336.200 |
|
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Provisions |
21.436
|
9.309 |
0.000 |
Total
Current Liabilities
|
695.924 |
380.936 |
336.200 |
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Net Current Assets
|
1264.455 |
1177.773 |
897.700 |
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MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
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TOTAL
|
1728.027 |
1437.076 |
1130.000 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other
income]
|
3120.742 |
2269.296 |
1868.800 |
|
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|
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Profit/(Loss) Before Tax
|
370.151 |
407.553 |
253.300 |
Provision for Taxation
|
79.200 |
79.298 |
7.100 |
Profit/(Loss) After Tax
|
290.951 |
328.255 |
246.200 |
|
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Export Value |
1.173 |
0.831 |
0.000 |
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Import Value |
2.047 |
1.032 |
0.000 |
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|
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Total Expenditure
|
2750.591 |
1860.743 |
2115.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
9.32 |
14.47 |
13.17
|
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Net Profit Margin
(PBT/Sales) |
(%) |
11.86 |
17.59 |
13.55
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Return on Total Assets
(PBT/Total Assets} |
(%) |
16.89 |
24.03 |
19.06
|
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Return on Investment (ROI)
(PBT/Networth) |
|
0.21 |
0.28 |
0.23
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Debt Equity Ratio
(Total Liability/Networth) |
|
0.40 |
0.27 |
0.30
|
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Current Ratio
(Current Asset/Current Liability) |
|
2.82 |
4.09 |
3.67
|
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets :
v
Leasehold Improvements
v
Plant and Machinery
v
Office Equipments
v
Data Processing Equipments
v
Furniture and Fixture
v
Motor Vehicles
Subject was incorporated on 7th December, 1993 at Bangalore
in Karnataka having Company Registration Number 15007.
The company was incorporated as a Private Limited company and became
Deemed Public Limited company under section 43A (2) w.e.f. 30th
June, 1998.
The parent company AMP Inc. USA has been taken over by TYCO Group of USA
and the name changed to Tyco Electronic Corporation Inc., USA with effect from
2nd April, 1999. Consequent
to the holding company’s take over and change of management, the subject
company also changed its name as “Tyco Electronic Corporation Ltd”, with effect
from 24th February, 2000.
The Company manufactures electrical and electronic connectors, wire
harnesses, cables and fibre optic interconnection systems and applications
tools at its facilities in Bangalore, Pune and Kochi.
The facility in Bangalore manufactures connectors and other
interconnection systems and value-added assemblies catering to the end user
segments of networking, automotive, telecom, power, consumer electronics,
household appliances, industrial instrumentation, defence, aerospace and
business and retail automation. This
facility is also ISO 9000 and QS 9000 certified.
During the year 1997-98, the company has set up a manufacturing facility
near Pune for manufacturing harness wires in automobile industry, which
commenced commercial production on 29th June, 1997.
The company has been converted as private limited company.
Subject is a wholly-owned subsidiary of the US-based Tyco Electronic
Corporation, a 50:50 joint venture with Elentec Co of Korea.
The joint venture, subject would involve an investment of $2 million and
has a manufacturing facility at Noida, company officials said here.
Subject is one of the leading manufacturers of high precision electronic
components in Korea.
It manufactures and markets electrical and electronic connectors, wire
harness and other electro-mechanical/electronic components from its facilities
in Bangalore, Pune and Kochi.
The new venture would cater to the component requirements of consumer
electronics, household appliances and the computer industry.
The facility at Noida has a built-up area of 16,000 sq. ft. Initially,
the focus would be on the production of remote control units, CRT sockets, DG
coils and wire harnesses.
The joint venture had already got Samsung as its first customer.
It is in trade terms with :-
Ř Weifore Cables
Private Limited
Ř Paras Wires
Private Limited
Ř Conor Metalloys
Private Limited
Ř Ajit Industries
Private Limited
Ř Terminal
Technologies Private Limited
Ř M/A Com Inc
Ř Pinacl
Communication Systems
Ř Shanshan Original
Electrical Company
Ř Raychem Shanghai
Cable Access
Ř Raychem RPG Limited
The company divided the market in three segments. The upper segment
includes the OEMs or total solution providers like CMC, Datacraft, Compaq and
Wipro. The middle layer comprises regional system integrators who are involved
in structured cabling projects for 50-200 node networks worth Rs. 3-4
millions. The lower segment includes
resellers, stockists and small system integrators who take structured cabling
for small networks involving up to 50 nodes.
The company has three distributor - Tech Pacific, Compuage and Ramco
Systems. Ramco takes care of the project segment. Tech Pacific and Compuage
look after resellers and the lower segments.
The company’s actual business is in Delhi, Mumbai and Chennai. The
company’s also slowly getting into the cities like Ahmedabad, Vishakapatnam,
Nagpur, Nasik, Lucknow, Chandigarh and Bhubaneshwar.
Company Information
Over the past five years, Tyco Electronics has kept pace; rapidly
growing to become the world's largest passive component manufacturer. Based on
the interconnect technology leadership of AMP products, Tyco Electronics has
added a full complement of leading component brands -- including Raychem,
Elcon, P&B, M/A-COM, CII and many more - to offer customers an unparalleled
portfolio of connectors, relays and circuit breakers, active and passive
fiberoptic components, wireless products, power components, resistors and
inductors, motors and myriad others across 25 product segments.
|
Name of the company |
TYCO ELECTRONICS CORPORATION INDIA PRIVATE LIMITED(Formerly Known as
AMP India Limited ) |
|
Presented By |
SOCIETE GENERALE, Bangalore Branch, Magrath Road, Bangalore- 560025
and TYCO ELECTRONICS CORPORATION
INDIA PRIVATE LIMITED (Formerly Known as AMP India Limited ) |
|
1) Date and description of instrument creating the change |
Date : 03.03.1997 Agreement of Hypothecation of Stocks / Goods LO /
013 Agreement of Hypothecation of Book Debts LO/ 009 Letter from HSBC, Bangalore and Corporation Bank. (all the above pertain to same charge) |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 22.300 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 in favour of the Bank all the Goods namely Raw
Materials, Stocks in process, stocks goods in Transit, Finished goods and
stores and spares, consumable etc. including the stocks thereof for the time
being whether raw or manufactured or in the process of manufacture and all
articles manufactured there from including any such goods in the course of
transit or delivery and all movable
property of any kind of the Borrower which now or thereafter from time to
time during this security shall be brought in stored or be in or about the
premises. Warehouses or god owns of the borrower in Bangalore or wherever
else the same may held by any party anywhere to the order and disposition of
the borrower hypothecation and charge to the bank all the book debts.
Outstanding money receivable claims bills which are now due and owing or
while may at any time hereafter during continuance of this security become
and to the borrower in the course of its business by any of their creditors
by way if First charges. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Rate of Interest : 18 % p.a. with quarterly rests. Margin : 25 % Repayment : on Demand Charge on the assets shall rank pari passu with other Banks, Hong Kong
and Shanghai banking Corporation, Bangalore and Corporation Bank, Industrial
finance Branch, Bangalore without any preference or priority of one over the
other. |
|
5) Name and Address and description of the person entitled to the
charge. |
Societe Generale Bangalore Branch, Magrath road, Bangalore – 560025 (A Banking Company) |
|
6) Date and brief description
of instrument modifying the charge |
Date: 21.1.2002 Supplementary Agreement of Hypothecation of Stocks
goods and Book dents. |
|
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 above agreement the Borrower company can avail the credit
facility of Rs. 35.000 millions in any manner/ mode like cash credit /
packing credit / sales bills discounting / non coverable debenture loan /
bank guarantees/ letters of credit or in any other form of Banking facility
as may be desired by them and the securities already obtained will continue
for the present arrangement also. |
|
|
|
|
Name of the company |
AMP India Limited |
|
Presented By |
The Hongkong and Shanghai banking Corporation Limited, Bangalroe
Branch, Manipal centre, Dickenson Road, Bangalore- 560042 |
|
1) Date and description of instrument creating the change |
Date : 03.03.1997 Regd. As Doc 20/17.03.9 7 Hypothecation agreement |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 31.500 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 the whole of the present and future stocks and book
dents belonging to the company |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest and Margin as applicable from time to time Repayment : on Demand |
|
5) Name and Address and description of the person entitled to the
charge. |
The Hongkong
and Shanghai banking Corporation Limited Bangalroe Branch Manipal centre Dickenson Road Bangalore- 560042 |
|
6) Date and brief description
of instrument modifying the charge |
26.06.1999 Supplementary hypothecation Agreement |
|
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. |
Limit enhanced to Rs. 72.500 millions all other terms and conditions
to continue. |
|
|
|
|
Name of the company |
AMP India Limited |
|
Presented By |
Corporation Bank, Industrial Finance Branch Bangalore and AMP India
Limited |
|
1) Date and description of instrument creating the change |
06.06.1995 Agreement for Hypothecation of goods to secure demand cash credit F 35 Agreement for hypothecation of Book Debts F =- 35 BD Hongkong bank Letter dated 3.06.1995 |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 49.750 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 goods like jack, amp stock combo disk drive shall include all product
circular connectors, latch etc which expression shall include shall all
product, goods and movable of any kind belonging to the borrower and also
such products, goods, and movable which now or hereafter from time to time
during the continue of this security shall be brought in stored or be in or
about the borrowers premise or wherever else the same may be. The present and
as well as the future book debts, outstanding monies, receivable, claims,
bills, contracts, engagements securities investments, rights and assets by
way of first charges. The charges shall rank paripassu with Hongkong and
Shanghai Banking Corporation Limited without any preference or primary of one
over the other. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest : At 3.5 % above the Reserve Bank of India Rate
subject to a minimum of 15.5 % p.a. with quarterly rests. Margin : 25 % Penal interest At 2 % above normal rate Repayment on demand |
|
5) Name and Address and description of the person entitled to the
charge. |
The Hongkong
and Shanghai banking Corporation Limited Industrial Fnance Branch Queen Road Bangalore- 560042 |
|
6) Date and brief description of instrument modifying the charge |
Date : 31.12.98 Common Supplemental Deed of Hypothecation |
|
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 above the amount secured by the charge stands increased form Rs.
52.000 millions to Rs. 127.500 millions TL Rs. 50.000 millions CC Cum PCL cum
Foreign Bills Rs. 15.000 millions bills discounting Rs. 20.000 millions
inland import LC Rs. 12.500 millions Rate of Interest – 1.5 % above banks PLR with a minimum of 14.5 % p.a.
with quarterly rests, Usance Bill Discounting – 13 % p.a. PCL/ FEBN / FEBP / FDBD as per RBI Directive. Inland / Import L. C. B. G. Commission at Banks prescribed rates
Margin : 40 % Building 25 % Plants and Machinery, Fixture and Fruitier Electrical
Installation computer, other Misc. Assets, Stocks and Book Debts. Repayment : CC On Demand MTL Repayment in Six Equal Half yearly Installments with a initial
Repayment Holiday for a period upto 31.12.1999 all other terms and conditions
remains unchanged. |
|
|
|
|
Name of the company |
AMP India Limited |
|
Presented By |
SOCIETE GENERALE, Bangalore Branch, Magrath Road, Bangalore- 560025
and TYCO ELECTRONICS CORPORATION
INDIA PRIVATE LIMITED (Formerly Known as AMP India Limited ) |
|
1) Date and description of instrument creating the change |
Date : 03.03.1997 Agreement of Hypothecation of Stocks / Goods LO /
013 Agreement of Hypothecation of Book Debts LO/ 009 Letter from HSBC, Bangalore
and Corporation Bank. (all the above
pertain to same charge) |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 22.300 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 in favour of the Bank all the Goods namely Raw
Materials, Stocks in process, stocks goods in Transit, Finished goods and
stores and spares, consumable etc. including the stocks thereof for the time
being whether raw or manufactured or in the process of manufacture and all
articles manufactured there from including any such goods in the course of
transit or delivery and all movable
property of any kind of the Borrower which now or thereafter from time to
time during this security shall be brought in stored or be in or about the
premises. Warehouses or god owns of the borrower in Bangalore or wherever
else the same may held by any party anywhere to the order and disposition of
the borrower hypothecation and charge to the bank all the book debts.
Outstanding money receivable claims bills which are now due and owing or
while may at any time hereafter during continuance of this security become
and to the borrower in the course of its business by any of their creditors
by way if First charges. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Rate of Interest : 18 % p.a. with quarterly rests. Margin : 25 % Repayment : on Demand Charge on the assets shall rank paripassu with other Banks, Hongkong
and Shanghai banking Corporation, Bangalore and Corporation Bank, Industrial
finance Branch, Bangalore without any preference or priority of one over the
other. |
|
5) Name and Address and description of the person entitled to the
charge. |
Societe Generale Bangalore Branch, Magrath road, Bangalore – 560025 (A Banking Company) |
|
6) Date and brief description of instrument modifying the charge |
Date : 27.025.1998 Supplementary Agreement of Hypothecation of Stocks
goods and Book debts. Letter from
HSBC Bangalore and corporation Bank . All the above pertain to the same
charge. |
|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
By the above agreement the Borrower company can avail the credit
facility of Rs. 35.000 millions Rate
interest modified as at Bank’s PLR
i.e. 18.5 % p.a. PLUS Interest Tax. Effective Rate 18.87 % p.a. with
quarterly rests. Margin : 25 % repayments : on demand. All other term and conditions remain unchanged. |
|
|
|
|
Name of the company |
AMP India Limited |
|
Presented By |
The Hongkong and Shanghai banking Corporation Limited, Bangalroe
Branch, Manipal centre, Dickenson Road, Bangalore- 560042 |
|
1) Date and description of instrument creating the change |
Date : 03.03.1997 Regd. As Doc 20/17.03.9 7 Agreement for overdraft /
cash / credit loan against hypothecation for revolving stocks and other
moveable assets and also present and future book debts. |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 31.500 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 the whole of the present and future stocks and book
dents belonging to the company |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest and Margin as applicable from time to time Repayment : on Demand |
|
5) Name and Address and description of the person entitled to the
charge. |
The Hong Kong
and Shanghai banking Corporation Limited Bangalroe Branch Manipal centre Dickenson Road Bangalore- 560042 |
|
6) Date and brief description of instrument modifying the charge |
11.02.1998 Agreement for overdrafts / cash / credit loan against hypothecation
of revolving stocks and other movable assets and also present and future book
debts |
|
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. |
Limit enhanced to Rs. 31.500 millions All other terms and conditions to continue. |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.44 |
|
UK Pound |
1 |
Rs.85.89 |
|
Euro |
1 |
Rs.58.54 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
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 |
|