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MIRA
INFORM REPORT
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Report Date : |
23.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ARIHANT CHEMICALS
AND RESINS (INDIA) PRIVATE LIMITED |
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Registered Office : |
11, Peninsula
Centre S. S. Rao Road, Off Dr. Ambedkar Road, Parel, Mumbai - 400009,
Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
28.02.2003 |
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Com. Reg. No.: |
11-139400 |
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CIN No.: [Company
Identification No.] |
U51102MH2003PTC139400 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA18787G |
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PAN No.: [Permanent
Account No.] |
AAECA1296P |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
The company is
engaged in trading activities, energy is only utilised for office electrical
equipments and lights. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 35000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company having fine track. Financial position are
correct and as per commitments. The company is
doing well. It can be considered good for normal business dealings at usual
trade terms and conditions. It can be regarded as a promising business
partner in a medium to long run. |
LOCATIONS
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Registered Office : |
11, Peninsula
Centre S. S. Rao Road, off Dr. Ambedkar Road, Parel, Mumbai - 400009,
Maharashtra, India |
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Tel. No.: |
91-22-66606777 (5
lines) |
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Fax No.: |
91-22-66608077 |
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E-Mail : |
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Website : |
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Branches : |
Ahmedabad: M/s
Bright Exim Private Limited Bangalore: Mr.
S.Santhanam Chennai: Mr.
K.P.Nair Delhi: Mr.
Deep Narayan Tripathi Indore: M/s
J.J.Associates Kolkata: M/s
Valabhji Vanmali Pune: Mr. Chandrashekar Rege |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
|
Name : |
Mr. Bhupendra G
Sakaria |
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Designation : |
Director |
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Date of Birth/Age : |
24/08/1939 |
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Date of Appointment : |
28/02/2003 |
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Name : |
Ms. Aruna B
Sakaria |
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Designation : |
Director |
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Date of Birth/Age : |
20/01/1951 |
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Date of Appointment : |
30/11/2004 |
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Name : |
Ms. Shwetal B
Sakaria |
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Designation : |
Director |
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Date of Birth/Age : |
06/06/1980 |
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Date of Appointment : |
28/02/2003 |
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Name : |
Ms. Khushi S
Sakaria |
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Designation : |
Director |
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Date of Birth/Age : |
20/10/1983 |
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Date of Appointment : |
30/11/2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Bhupendra G
Sakaria |
90970 |
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Shwetal B Sakaria
|
80000 |
|
Aruna B Sakaria |
10000 |
|
Bhupendra G
Sakaria (HUF) |
1000 |
|
Khushi S Sakaria |
10000 |
|
Kanchi Nilesh
Mehta (under the Guardianship of Rupal N Mehta) |
1000 |
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Rupal N Mehta |
1000 |
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Rupal Snehal Shah
|
1000 |
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Snehal C Shah |
1000 |
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Viral J Sakaria |
1000 |
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Sujata V Sakaria |
1000 |
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Dimple P Vasa |
1000 |
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Abhay Rajnikant
Shah (HUF) |
10 |
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Ajay Rajnikant
Shah (HUF) |
10 |
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Rajnikant
Kodarlal Shah (HUF) |
10 |
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Kartik Shashikant
Mehta |
1000 |
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Total
|
200000 |
BUSINESS DETAILS
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Line of Business : |
The company is
engaged in trading activities, energy is only utilised for office electrical
equipments and lights. |
GENERAL
INFORMATION
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Bankers : |
Union Bank of India, Khand Bazar Branch, 109, Kazi Sayed Street, Khand Bazar, Mumbai – 400003 |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Raichura Unadkat
and Company Chartered
Accountants |
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Address : |
501, Sharda
Chambers, Sir Vithaldas Thackersey Road, New Marine Lines, Mumbai – 400020 |
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Tel. No.: |
91-22-22003659 /
22005930 |
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Fax No.: |
91-22-22090916 |
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E-Mail : |
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Memberships : |
Nil |
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Collaborators : |
Nil |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
2.000 |
2.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
7.232 |
2.925 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
9.232 |
4.925 |
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LOAN FUNDS |
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1] Secured Loans |
|
7.442 |
5.760 |
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2] Unsecured Loans |
|
48.568 |
40.310 |
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TOTAL BORROWING |
|
56.010 |
46.070 |
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DEFERRED TAX LIABILITIES |
|
0.032 |
0.018 |
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TOTAL |
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65.273 |
51.013 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
14.488 |
14.170 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
20.016 |
8.252 |
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Sundry Debtors |
|
82.222 |
67.918 |
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Cash & Bank Balances |
|
0.088 |
0.046 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
12.287 |
6.343 |
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Total Current Assets |
|
114.613 |
82.559 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
63.857 |
45.760 |
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Provisions |
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Total Current Liabilities |
|
63.857 |
45.760 |
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Net Current Assets |
|
50.756 |
36.799 |
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MISCELLANEOUS EXPENSES |
|
0.029 |
0.044 |
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TOTAL |
|
65.273 |
51.013 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
322.586 |
244.820 |
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Profit/(Loss)
Before Tax |
|
7.265 |
4.683 |
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Provision for
Taxation |
|
2.731 |
1.737 |
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Profit/(Loss)
After Tax |
|
4.534 |
2.946 |
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Export Value |
|
9.423 |
0.018 |
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Total Expenditure |
|
315.321 |
240.137 |
KEY RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
1.41 |
1.20 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
2.25 |
1.91 |
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Return on Total
Assets (PBT/Total Assets} |
(%) |
|
5.63 |
4.84 |
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Return on
Investment (ROI) (PBT/Networth) |
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|
0.79 |
0.95 |
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Debt Equity Ratio (Total
Liability/Networth) |
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|
12.98 |
18.65 |
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Current Ratio (Current
Asset/Current Liability) |
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|
1.79 |
1.80 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets :
Ř
Godown
Ř
Office
Premises
Ř
Computer
Ř
Furniture and
Fixtures
Ř
Office
Equipments
Ř
Residential
Property
Ř
Motor Vehicles
Performance :
The company’s
performance was satisfactory during the year.
AS PER WEBSITE
The company established their business in 1967, catering mainly
Printing Ink Industries. In 1970, they expanded their activities to other
industry like Paints & Coatings.
There is a reason why many of today's leading companies in PICA (Paints, Inks,
Coatings & Adhesives) industry are associated with Arihant Chemicals & Resins (I)
Private Limited for their requirement of vital
speciality chemicals. Their unparalleled global resources include strategic
relationships with their principals, both domestic as well as international.
Throughout their development, they have increased their product range
concentrating its efforts on products that deliver the greatest value to the
clients. More and more of Ink and Paint manufacturers rely on us. It is because
they not only have a complete range of Indigenous & Imported raw materials
but they also have a strong supply position. They maintain inventories of many
hard-to-get products.
Their success is direct result of well-trained and dedicated team of
professionals with extensive experience in a wide range of chemicals. With an
eye on the future, they invest and train their staff for tomorrow's needs as
well as today's requirements.
They recognize that their ambition can only be achieved with the
involvement of all their employees into one well-allied machine and by building
partnership with their principals and their clients along with the community in
which they operate.
Their unmatched warehousing with compartmentalized state of art storing
facility for respective products with extensive distribution network, ensures
that you receive the right product at the right time.
With feet firmly planted on today and with foresight into the future they
invest and reinvest their sources on products of future. Its all here, all from
one supplier – ARIHANT
CHEMICALS & RESINS (I) PRIVATE LIMITED See for
thyself, why they are the pacesetters in Speciality Chemicals.
FUTURE VISION
Adding Value To The Chemistry is the
aim and goal of their organization, strengthening the position of their
clients, whether they operate regionally or globally, with products and problem
solutions continuously optimized for their benefit.
|
Name of the company |
ARIHANT
CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
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|
Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
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1) Date and description of instrument creating the change |
Hypothecation agreement of good and debts dated 24th
November, 2003 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 10.000 millions |
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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 |
The Borrower hereby hypothecation by way of first charge in favour of
the Bank: Hypothecation of good received under DA /L/C and all movable property
of any kind now or at any time hereafter belonging to or at the disposal of
the Borrower and which are now stored or being stored or which hereafter may
from time to time by brought in into or stored or be in or about the
borrowers premises or godwons at Bhiwnadi and at other places hired by the
Borrower for the purpose of storage in the Union of India and all other place
of storage whatsoever at any other place in the Union of India or wherever
else they may be including any of the said goods with any of the Borrowers
agents or at any of the Borrowers agencies or in course of transit by the
ship, rail or otherwise and The Borrowers book dents, outstanding, monies, deposits, receivable,
claims and bills contracts, securities, investments which are now due and
owing or which may at any time hereafter during the continuance of this
security becoming due and owing to the Borrower in the course if uts business by any person or party
including any government or any local or public body or authority which are
hereinafter collectively referred to as the said debts. |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest at the rate of 14.5 % p.a. with monthly rests or at such
other revised rates as may be prescribed by the bank from time to time
depending upon the change in the Prime Lending Rate of the Bank or the
directives of Reserve Bank of India from time to time or the policy of the
Bank on advance from Imp L/C facility of Rs. 10.000 millions granted by the
Bank to the Company. Margin : 25 % |
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5) Name and Address and description of the person entitled to the
charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
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|
6) Date and brief description
of instrument modifying the charge |
Supplementary Agreement to hypothecation agreement of Goods and dents
dated 27th May 2004 |
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7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
The original charge dated 24/11/2003 for Rs. 10.000 millions has been
modified from time to time as under. On 14/01/2004 an Equitable Mortgage by way of deposit of Title deeds
was created in respect of company’s immovable property viz. A Unit
admeasuring about 1158 sq. ft. carpet area along with the right to use the
open car spaces bering nos. 01,02 and 03 being Unit No. 011 on the ground
floor of the Building known as Peninsula Centre constructed on all those
pieces and parcels of land admeasuring about 77,711.31 sq. ft. bearing
cadastral survey Nos. 63/74, 107 of Parel Sewri Division, situated at Parel
in the Registered district and Sub district of Mumbai city to secure the due
repayment to Union Bank of India of all the amount advanced or to be advanced
and of all the amount under the Import L/C facility of Rs. 10.000 millions
granted or to be granted by Union
Bank of India to the Company together with interest, compound interest
and / or additional interest in case of default, exchange flections, costs,
charges, expenses etc. The total charge remains at the same level of Rs. 10.000 millions Vide this modification an additional sum of Rs. 5.000 millions has
been granted by Bank thereby enhancing Imp L/C facility form Rs. 10.000
millions to Rs. 15.000 millions and the security of hypothecation goods and
book debts covered by the principal hypothecation agreement shall continue to
be a security for the Bank for the enhanced limit of Rs. 15.000 millions
together with interest at the rate of 14.25 % p.a. with monthly. Rests or
such other rate as may be revised by the Bank form time to time depending on
the change in P L R of the Bank or directives of RBI or policy of the Bank
from time to time and that all other terms and conditions in Principal
Hypothecation agreement shall remain unchanged and shall continue to be
applicable to the revised limit of Rs. 15.000 millions and be bending on the
borrowers. |
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Name of the company |
ARIHANT
CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
||||
|
Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
||||
|
1) Date and description of instrument creating the change |
Hypothecation agreement of book debts dated 24th November,
2003 |
||||
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 3.000 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 |
Hypothecation of way of first
charge of all the borrowers present and future book dents, outstanding,
monies, deposits, receivable, claims and bills contracts, securities,
investments , rights and assets. |
||||
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest at the rate of 14.5 % p.a. with monthly rests or at such
other revised rates as may be prescribed by the bank from time to time
depending upon the change in the Prime Lending Rate of the Bank or the
directives of Reserve Bank of India from time to time or the policy of the
Bank on advance from SOD Book debts facility of Rs. 3.000 millions granted by
the Bank to the Company. Margin : 50 % |
||||
|
5) Name and Address and description of the person entitled to the
charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
||||
|
6) Date and brief description
of instrument modifying the charge |
Supplementary Agreement to hypothecation agreement of Book debts dated
27th May 2004 |
||||
|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
The original charge dated 24/11/2003 for Rs. 3.000 millions has been
modified from time to time as under. On 14/01/2004 an Equitable Mortgage by way of deposit of Title deeds
was created in respect of company’s immovable property viz. A Unit
admeasuring about 1158 sq. ft. carpet area along with the right to use the
open car spaces bering nos. 01,02 and 03 being Unit No. 011 on the ground
floor of the Building known as Peninsula Centre constructed on all those
pieces and parcels of land admeasuring about 77,711.31 sq. ft. bearing
cadastral survey Nos. 63/74, 107 of Parel Sewri Division, situated at Parel
in the Registered district and Sub district of Mumbai city to secure the due
repayment to Union Bank of India of all the amount advanced or to be advanced
and of all the amount under the Import L/C facility of Rs. 10.000 millions
granted or to be granted by Union
Bank of India to the Company together with interest, compound interest
and / or additional interest in case of default, exchange flections, costs,
charges, expenses etc. The total charge remains at the same level of Rs. 3.000 millions Vide this modification an additional sum of Rs. 2.000 millions has
been granted by Bank thereby enhancing Imp L/C facility form Rs. 3.000
millions to Rs. 5.000 millions and the security of hypothecation goods and
book debts covered by the principal hypothecation agreement shall continue to
be a security for the Bank for the enhanced limit of Rs. 5.000 millions
together with interest at the rate of 12.75 % p.a. with monthly. Rests or
such other rate as may be revised by the Bank form time to time depending on
the change in P L R of the Bank or directives of RBI or policy of the Bank
from time to time and that all other terms and conditions in Principal
Hypothecation agreement shall remain unchanged and shall continue to be
applicable to the revised SOD Book debts limit of Rs. 5.000 millions. |
||||
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Name of the company |
ARIHANT
CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
||||
|
Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
||||
|
1) Date and description of instrument creating the change |
Letter of Hypothecation of good and bills dated 08/01/2005 Packing credit agreement dated
08/01/2005 (Both the above agreement constitute a single charge ) |
||||
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 9.400 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 by way of first charge
in favour of the Bank all movable property of the borrower meant or
intended or export of goods such as chemicals, drugs and resings including
raw materials, semi finished goods and finished goods and finished goods and
any other goods meant or intended or being manufactured for export lying in the
factory or stored at the borrower factory or in sheds whether situate in the
main factory shed or godwns at Bhiwandi own at shed hired by the Borrower for
storage wherever situate and or in transit belonging to or that may at any
time during the continuance of this security belong to the Borrower and meant
or intended or being manufactured for export or that may be held by any party
to the order and disposition of the Borrower all of which said property goods
and assets both and present and future. |
||||
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest at the rate of 7 % p.a. with monthly rests for FDBP under L/C
facility of Rs. 9.400 millions granted by the Bank to the Company. Interest at the rate of 7 % p.a.
for packing credit facility of Rs. 5.700 millions as sub limit within
the overall FDBP under L/C facility of Rs. 9.400 millions granted by the Bank
to the Company. |
||||
|
5) Name and Address and description of the person entitled to the
charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
||||
|
6) Date and brief description
of instrument modifying the charge |
Not Available |
||||
|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
Not Available |
||||
|
|
|
||||
|
Name of the company |
ARIHANT
CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
||||
|
Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
||||
|
1) Date and description of instrument creating the change |
Hypothecation agreement of book debts dated 24th November,
2003 |
||||
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 3.000 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 |
Hypothecation of way of first
charge of all the borrowers present and future book dents, outstanding,
monies, deposits, receivable, claims and bills contracts, securities, investments
, rights and assets. |
||||
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest at the rate of 14.5 % p.a. with monthly rests or at such
other revised rates as may be prescribed by the bank from time to time
depending upon the change in the Prime Lending Rate of the Bank or the
directives of Reserve Bank of India from time to time or the policy of the
Bank on advance from SOD Book debts facility of Rs. 3.000 millions granted by
the Bank to the Company. Margin : 50 % |
||||
|
5) Name and Address and description of the person entitled to the
charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
||||
|
6) Date and brief description
of instrument modifying the charge |
Supplementary Agreement to hypothecation agreement of Book debts dated
29/12/2004 |
||||
|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
The original charge dated 24/11/2003 for Rs. 3.000 millions has been
modified from time to time as under. On 14/01/2004 an Equitable Mortgage by way of deposit of Title deeds
was created in respect of company’s immovable property viz. A Unit
admeasuring about 1158 sq. ft. carpet area along with the right to use the
open car spaces bering nos. 01,02 and 03 being Unit No. 011 on the ground
floor of the Building known as Peninsula Centre constructed on all those
pieces and parcels of land admeasuring about 77,711.31 sq. ft. bearing
cadastral survey Nos. 63/74, 107 of Parel Sewri Division, situated at Parel
in the Registered district and Sub district of Mumbai city to secure the due
repayment to Union Bank of India of all the amount advanced or to be advanced
and of all the amount under the Import L/C facility of Rs. 10.000 millions
granted or to be granted by Union
Bank of India to the Company together with interest, compound interest
and / or additional interest in case of default, exchange flections, costs,
charges, expenses etc. On 27/05/2004 an additional sum of Rs. 2.000 millions has been granted
by Bank thereby SOD facility form Rs. 3.000 millions to Rs. 5.000 millions
and the security of hypothecation goods and book debts covered by the
principal hypothecation agreement shall continue to be a security for the
Bank for the enhanced limit of Rs. 5.000 millions together with interest at
the rate of 12.75 % p.a. with monthly. Rests or such other rate as may be
revised by the Bank form time to time depending on the change in P L R of the
Bank or directives of RBI or policy of the Bank from time to time and that
all other terms and conditions in Principal Hypothecation agreement shall
remain unchanged and shall continue to be applicable to the revised SOD Book
debts limit of Rs. 5.000 millions. Vide this modification an additional sum of Rs. 6.000 millions has
been granted by Bank thereby SOD facility form Rs. 5.000 millions to Rs.
11.000 millions and the security of hypothecation goods and book debts
covered by the principal hypothecation agreement shall continue to be a
security for the Bank for the enhanced limit of Rs. 11.000 millions together
with interest at the rate of 12.75 % p.a. with monthly. Rests or such other
rate as may be revised by the Bank form time to time depending on the change
in P L R of the Bank or directives of RBI or policy of the Bank from time to
time and that all other terms and conditions in Principal Hypothecation
agreement shall remain unchanged and shall continue to be applicable to the
revised SOD Book debts limit of Rs. 11.000 millions. Thus the total changes made of the level of Rs. 11.000 millions. |
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|
|
|
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Name of the company |
ARIHANT
CHEMICALS AND RESINS INDIA PRIVATE LIMITED |
||||
|
Presented By |
Union
Bank of India, Khand Bazar Branch, Mumbai |
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|
1) Date and description of instrument creating the change |
Hypothecation agreement of book debts dated 24th November,
2003 |
||||
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 3.000 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 |
Hypothecation of way of first
charge of all the borrowers present and future book dents, outstanding,
monies, deposits, receivable, claims and bills contracts, securities,
investments , rights and assets. |
||||
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest at the rate of 14.5 % p.a. with monthly rests or at such
other revised rates as may be prescribed by the bank from time to time
depending upon the change in the Prime Lending Rate of the Bank or the
directives of Reserve Bank of India from time to time or the policy of the
Bank on advance from SOD Book debts facility of Rs. 3.000 millions granted by
the Bank to the Company. Margin : 50 % |
||||
|
5) Name and Address and description of the person entitled to the
charge. |
Union Bank of India Khand Bazar Branch 109, Kazi Sayed Street, Khand Bazar Mumbai – 400003 |
||||
|
6) Date and brief description
of instrument modifying the charge |
Not Available |
||||
|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
Not Available |
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.43.70 |
|
UK Pound |
1 |
Rs.85.90 |
|
Euro |
1 |
Rs.58.25 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
70 |
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 |
|