MIRA
INFORM REPORT
|
Report Date : |
30.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SHEELA FOAMS
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-55, Preet
Vihar, First Floor, Vikas Marg, Delhi – 110 092 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2003 |
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|
|
|
Date of
Incorporation : |
18.06.1971 |
|
|
|
|
Com. Reg. No.: |
55-5679 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1971PTC005679 |
|
|
|
|
TAN No.: [Tax Deduction
& Collection Account No.] |
DELS21008B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACS0189B |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of
Flexible Polyurethane Foam products such as Mattress, Foam Pillow Covers, Bed
Cushions and Covers. |
RATING &
COMMENTS
|
MIRA’s Rating
: |
Ba |
RATING |
STATUS |
PROPOSED
CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
|
Maximum Credit
Limit : |
USD 3180000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having fine track records. Directors are reported as experienced,
respectable and resourceful industrialists.
Their trade relations are reported as fair. Financial position of the company is good. Payments are reported as correct and as
per commitments. The company can be considered normal for
business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
C-55, Preet
Vihar, First Floor, Vikas Marg, Delhi – 110 092, India |
|
Tel. No.: |
91-11-22467764/22222722 |
|
Fax No.: |
91-11-22220624 |
|
E-Mail : |
rahul@sheelafoam.com |
|
Website : |
http://www.sleepwellflexipuf.com, http://www.sheelafoam.com |
|
|
|
|
Corporate
Office : |
Plot No. 37/2, Site
IV, Sahibabad Industrial Area, District Ghaziabad - 201010, Uttar Pradesh,
India |
|
Tel. No.: |
91-120-2770045/2770087/2775425/2770539 |
|
Fax No.: |
91-120-2770366/2775427 |
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E-Mail : |
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|
|
|
Factory 1 : |
·
Sahibabad,
Uttar Pradesh ·
51-A, Udyog
Vihar, Greater Noida, Uttar Pradesh ·
Sarajpur,
Uttar Pradesh ·
Hyderabad,
Andhra Pradesh ·
Plot No. 37/2,
Site IV, Sahibabad Industrial Area, District Ghaziabad - 201010, Uttar
Pradesh Tel. No. 91-120-270045/2770087/2775425 Fax No. 91-120-2770366/2775427 ·
Survey No.
261/1/2/3, Saily Umar Kui Road, Silvassa – 396230, Union Territory of Dadra
& Nagar Haveli ·
Pondicherry ·
Rampo,
Sikkim ·
A-10, Sector
8, Noida – 201,301, District Gautam Budh Nagar, Uttar Pradesh ·
Main Dadri
Noida Road, Village Habibpur, District Gautam Budh Nagar, West Bengal ·
Plot No. 102/1,
Madhuban Dam Road, Village Rakholi, Silvassa, Union Territory of Dadra &
Nagar Haveli |
DIRECTORS
|
Name : |
Mr. Rahul Gautam |
|
Designation : |
Managing Director
|
|
Address : |
D – 2, Diwanshree
Apartment, 30, Ferozesaha Road, New Delhi – 110001, India |
|
Date of
Birth/Age : |
18th
November, 1952 |
|
Qualification
: |
B.Tech. M.S. (Chemical Engineering) MS (USA) |
|
Date of
Appointment : |
01st
April, 1996 |
|
Other
Directorships |
1.
Core Moulding(Private)
Limited 2.
Feather foam
Enterprises Limited 3.
Soft Foam
Industries Private Limited 4.
Pallavai
Foam Industries Private Limited |
|
|
|
|
Name : |
Mrs. Sheela
Gautam |
|
Designation : |
Director |
|
Address : |
D – 2, Diwanshree
Apartment, 30, Ferozesaha Road, New Delhi – 110001, India |
|
Date of
Birth/Age : |
15th
November, 1931 |
|
Date of
Appointment : |
18th
June, 1971 |
|
|
|
|
Name : |
Mr. Praduman
Patel |
|
Designation : |
Whole Time
Director |
|
Address : |
C-2, Greater Kailash
Part I, New Delhi – 110 048, India |
|
Date of
Birth/Age : |
30th
August, 1954 |
|
Date of
Appointment : |
01st
April, 1996 |
|
|
|
|
Name : |
Ms. Namita Gautam
|
|
Designation : |
Director |
|
Address : |
D – 2, Diwanshree
Apartment, 30, Ferozesaha Road, New Delhi – 110001, India |
|
Date of
Birth/Age : |
17th
January, 1954 |
|
Date of
Appointment : |
01st
June, 2003 |
|
|
|
|
Name : |
Mr. Ravindra
Sharma |
|
Designation : |
Director |
|
Address : |
289 – A, Road No.
12, MLA Colony, Banjara Hills, Hyderabad |
|
Date of
Birth/Age : |
18th
August, 1957 |
|
Date of
Appointment : |
14th
November, 2003 |
|
|
|
|
Name : |
Mr. Rakesh Chahar |
|
Designation : |
Whole Time
Director |
|
Address : |
12 -7, Nehru Enclave,
Kalkaji Extension, New Delhi – 110049, India |
|
Date of
Birth/Age : |
15.12.1964 |
|
Date of
Appointment : |
14.11.2003 |
|
|
|
|
Name : |
Mr. Satish Sethi |
|
Designation : |
Director |
|
Address : |
B – 41, Cozy Home
Apartment, 251, Pali Hill Road, Bandra, Mumbai, Maharashtra |
|
Date of
Birth/Age : |
25.11.1950 |
|
Date of
Appointment : |
14.11.2003 |
|
Date of
Ceasing : |
25.11.2003 |
KEY EXECUTIVES
|
Name : |
Mr. K. P. Rahul
Gautam |
|
Designation : |
Key Executive |
|
|
|
|
Name : |
Mr. Sanjay Goel |
|
Designation : |
Secretary |
|
Address : |
2139, Block – B,
Pocket – 2, Vasant Kunj, New Delhi |
|
Date of
Appointment : |
01.05.2003 |
|
Date of
Ceasing : |
01.10.2003 |
|
|
|
|
Name : |
Mr. Rajneesh
Kumar Tripathi |
|
Designation : |
Secretary |
|
Address : |
2, 1st
Floor, West Mukherjee Nagar, Delhi – 110009 |
|
Date of
Appointment : |
01.10.2003 |
|
Date of
Ceasing : |
01.01.2004 |
|
|
|
|
Name : |
Mr. Ravi Gupta |
|
Designation : |
Secretary |
|
Address : |
C – 5/91, Yamuna
Vihar, Delhi – 110053 |
|
Date of Birth
: |
08.04.1978 |
|
Date of
Appointment : |
06.01.2004 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mrs. Sheela
Gautam |
5853960 |
|
Mr. Rahul Gautam |
3293160 |
|
Ms. Namita Gautam |
1893240 |
|
Mr. Tushaar
Gautam |
662640 |
|
Mr. Praduman
Patel |
1908360 |
|
Mr. Kartik Patel |
1426080 |
|
Mr. Himanshu
Patel |
1463520 |
|
Ms. Urmila Patel |
1052400 |
|
Ms. Chaya
Mukherjee |
120 |
|
Ms. Kalpna Shrish
Amin |
240 |
|
Mr. Anil Tandon |
120 |
|
Mr. Siya Ram
Sharma |
240 |
|
Mr. K. K. Gautam |
240 |
|
Ms. Sunita Sharma |
240 |
|
Polyflex
Marketing Private Limited |
4488000 |
|
Serta India
Private Limited |
1620000 |
|
Starlite India
Private Limited |
330000 |
|
Ms. Alpana Verma
& Mr. Aseem Verma |
120 |
|
Ms. Shama Kapoor
& Mr. Sunit Kapoor |
240 |
|
Mr. J. K. Sharma |
120 |
|
Mr. Arvind Kumar |
240 |
|
Ms. Padma &
Mr. Prateek Gautam |
480 |
|
Rajesh Neena
& Arpita Sharma |
240 |
|
Mr. Asha Kapoor |
120 |
|
Mr. Kusum Gautam |
120 |
|
Ms. Sneh Lata
Jain & Sarika Jain |
120 |
|
Ms. Shobha
Jagdish Amin |
240 |
|
Janubi Devendra
& Rajul Devendra |
240 |
|
Uma Gautam &
Vidyawati Gautam |
240 |
|
Kanak Lata Sharma
& Tushant Sharma |
120 |
|
Ravi Dhariwal
& Rashmi Dhariwal |
360 |
|
Lok Chand Kapoor
& Ravi Kapoor |
240 |
|
Ashish Sharma
& J. K. Sharma |
240 |
|
Mr. Rakesh Chahar |
120 |
|
Mr. Ravindra
Sharma |
120 |
|
Mr. Amitabh
Devendra |
120 |
|
Ms. Versha H.
Patel |
1200 |
|
Ms. Meenakshi Patel |
1200 |
|
Ms. Renu Patel |
1200 |
|
TOTAL |
24000000 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturers of
Flexible Polyurethane Foam products such as Mattress, Foam Pillow Covers, Bed
Cushions and Covers. |
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|
|
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Products : |
·
PU Foam
Mattress ·
Sleep
Products ·
Sleepwell
Flexi-Puf, the brand leader in comfort products, is exclusively made of
Flexible PU Foam manufactured by Company. ·
Sleepwell
Flexi-Puf range includes products that are of special value to hospital and
nursing homes. |
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Exports to : |
Australia,
Greece, Germany and Canada |
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Imports from : |
France,
Singapore, Germany, U.K. and Japan |
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Terms : |
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Selling : |
Cash, Contract,
Others, L/C or Credit (30/60 days) |
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|
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|
Purchasing : |
Cash, Contract, L/C
or Credit (30 days) |
PRODUCTION STATUS
|
Particulars |
Unit |
|
|
Licensed Capacity |
|
Polyurethane Foam
and allied production |
Mt. |
|
|
15000 Mt/p. a. |
|
Polyurethane Foam
and Coir Sandwitch mattresses |
Pcs. |
|
|
150000 Pcs./p.a. |
GENERAL
INFORMATION
|
Suppliers : |
v Rhone Poulenc, France v Manali Petrochemicals Limited, Chennai,
Tamil Nadu, India v UB Petroproducts Limited, Chennai, Tamil
Nadu, India v TPI Polyol Company Limited, Thailand v Dow Services Singapore Pte Limited,
Singapore v Marubeni Corporation, Japan v Bayer Polyurethane's Asia Pte. Limited,
152, Beach Road, # 37-00, The Gateway East, Singapore – 189721 (TDI and
Polyol Supplier) v Dow Chemicals Pacific (Singapore) Pte.
Limited, 260, Orchard Road, # 18-01, The Heeren, Singapore – 238855 (TDI and
Polyol Supplier) |
|
|
|
|
Customers : |
Wholesalers,
manufacturers, retailers and government bodies. Some of its’
major customers are :- v Foam Trading Company, Meerut, Rajasthan,
India v Kalpa Sales, Kanpur, Madhya Pradesh, India v G. Dayaram & Company, Mumbai,
Maharashtra, India v Uttar Pradesh State Road Transport
Corporation, Kanpur, Madhya Pradesh and Jhansi, Uttar Pradesh, India v Maharashtra State Road Transport
Corporation, Aurangabad, Pune and
Nagpur all in Maharashtra, India v Shree Ram Industries, Wazirpur, Delhi,
India v Poly Lamination (Private) Limited, Noida,
Uttar Pradesh, India v Badar Industries (Private) Limited, Noida,
Uttar Pradesh, India v Capital Foam Traders, New Delhi, India v Raj Stores, New Delhi, India v A.P.I. Polymer (India) Limited, New Delhi,
India v Nikhil Udyog, New Delhi, India v
Joyce,
Australia |
|
|
|
|
No. of
Employees : |
500 |
|
|
|
|
Bankers : |
Central Bank of
India, Parliament Street, New Delhi – 110 001 Jammu & Kashmir
Bank Limited, New Delhi Standard
Chartered Bank Narain Manzil,
23, Barakhamba Road, New Delhi – 110001, India |
|
|
|
|
Facilities : |
Hypothecation of Plant & Machinery: Rs. 19.400 millions Term Loan: Rs. 2.700 millions Cash Credit: Rs. 39.400
millions |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Gupta and Gupta Chartered
Accountants |
|
Address: |
4/8, Asaf Ali
Road, New Delhi – 110 002 |
|
Tel. No.: |
91-11-23279527/23276456 |
|
Fax No.: |
91-11-23280660 |
|
|
|
|
Associates/Subsidiaries
: |
v Sleepwell Enterprises Private Limited v Feather Foam Enterprises Private Limited v Serta India Private Limited v Dunlopillo India Private Limited v Pallavi Foam Industries Private Limited v Sterlite India Private Limited v Core Mouldings Private Limited v S.F. Enterprises Private Limited v Polyflex Marketing Private Limited Subsidiaries: v
Pallavi Foam
Industries Private Limited, Delhi v M/s.Kanpav Overseas Private
Limited-U51909DL1998PTYC092164 v M/s Auora Foams Private Limited –
U25209DL2000PTC108174 v M/s Joyce Foam Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
295000 |
Equity Shares |
Rs. 100/- each |
Rs 29.500 millions |
|
5000 |
Preference Shares
|
Rs. 100/- each |
Rs. 0.500
million |
|
|
Total |
|
Rs.30.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
295000 |
Equity Shares |
Rs. 100/- each |
Rs 29.500 millions |
|
5000 |
Preference Shares
|
Rs. 100/- each |
Rs. 0.500
million |
|
|
Total |
|
Rs.30.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
|
240.952 |
240.000 |
|
|
2] Share
Application Money |
|
57.095 |
99.740 |
|
|
3] Reserves &
Surplus |
|
498.783 |
386.752 |
|
|
4] (Accumulated
Losses) |
|
0.000 |
0.000 |
|
NETWORTH
|
|
796.830 |
726.492 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
274.843 |
246.919 |
|
|
2] Unsecured
Loans |
|
121.585 |
134.755 |
|
TOTAL
BORROWING
|
|
396.428 |
381.674 |
|
|
DEFERRED TAX
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
TOTAL
|
|
1193.258 |
1108.166 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
|
417.734 |
430.479 |
|
Capital work-in-progress
|
|
29.256 |
6.952 |
|
|
|
|
|
|
|
INVESTMENT
|
|
105.707 |
4.532 |
|
DEFERREX TAX ASSETS
|
|
12.510 |
11.797 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
260.833 |
422.655 |
|
|
Sundry Debtors
|
|
379.081 |
415.192 |
|
|
Cash & Bank Balances
|
|
26.037 |
29.106 |
|
|
Other Current Assets
|
|
16.747 |
9.312 |
|
|
Loans & Advances
|
|
181.911 |
92.984 |
Total Current Assets
|
|
864.609 |
969.249 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
|
232.240 |
286.759 |
|
|
Provisions
|
|
52.047 |
29.571 |
Total Current Liabilities
|
|
284.287 |
316.33 |
|
Net
Current Assets
|
|
580.322 |
652.919 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
47.729 |
1.487 |
|
|
|
|
|
|
|
TOTAL
|
|
1193.258 |
1108.166 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
2648.783 |
2402.069 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
2648.783 |
2402.069 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
101.333 |
51.776 |
|
|
Provision for Taxation |
|
22.534 |
6.245 |
|
|
Profit/(Loss) After Tax |
|
78.799 |
45.531 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
35.301 |
28.741 |
|
|
Depreciation |
|
47.991 |
52.057 |
|
|
Other Expenditure |
|
2380.866 |
2188.697 |
|
Total Expenditure |
|
2464.158 |
2269.495 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
|
2.97 |
1.89 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
3.82 |
2.15 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
7.90 |
3.69 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.12 |
0.07 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
0.35 |
0.43 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
|
3.04 |
3.06 |
LOCAL AGENCY
FURTHER INFORMATION
Business:
The company has been
accredited with ISO 9001:2000 Certification.
Form 8 Particular
for creation or modification of charges
|
Corporation identity number or foreign company registrations number of
the company |
U74899DL1971PTC005679 |
|
Name of the company |
SHEELA FOAMS
PRIVATE LIMITED |
|
Address |
C-55, Preet
Vihar, First Floor, Vikas Marg, Delhi – 110 092, India |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder
|
Standard Chartered Bank Narain Manzil, 23, Barakhamba Road, New Delhi – 110001, India E-mail : gkjain1234@rediffmail.com |
|
Nature or description of the instrument creating charge |
Agreement of hypothecation of machinery |
|
Date of the instrument creating charge |
17.07.2006 |
|
Amount Secure by the charge |
Rs. 110.000 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest as may be determined by the Bank from time to time |
|
Description of the property charge whether it is a charge on |
Plant and machinery |
|
Particulars of the Property charged
|
Hypothecation by way of pari passu charge over the whole of the fixed assets
of the borrower situated at co’s premises, factories or whereverelse
situated, including its movable plant and machinery, machinery spares, tools
and accessories and other movables, both present and future [except assets
specifically charge to SCB] |
|
Name of the
company |
SHEELA FOAM
PRIVATE LIMITED |
|
Presented By |
Sheela Foam Private Limited, New Delhi |
|
1) Date and
description of instrument creating the change |
22.11.2005 Copy
of recital 22.11.2005
Article of Agreement |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 200.000
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 |
1st
charge over net block assets of the company. Present and future [excluding
factory land & building of Sikkim & Greater Noida Unit], and 2nd
charge on Greater Noida unit including equitable mortgage of properties
situated at following locations : - 1. Land &
building at Survey No. 102/1, at village Rakholi, Union Territory of Dadra
& Nagar Haveli & Silvassa [village pachayat No. 213, Rakholi Gram,
Panchayat] 2. Land &
building at Survey No. 261/1/2/3 village Saily, Silvassa Union Territory of
Dadra & Nagar Haveli 3. Land &
Building at 37/2 site – 4, Sahibabad industrial area, Gaziabad, UP 4. Land &
building at Main Dadri Road, Village Habibpur, Suraj Pur, Distrit Gautam Budh
Nagar, UP 5. Land &
building at Survey No. 852, of Medchal village and Mandal, Ranga ready district
Andhra Pradesh 6. Land &
building at R 3 No. 131/1, 131/2, 131/3 and 128/1 at Thiruvandarkoil,
Pondicherry 7. Land &
building at survey no. 257, village syali, UT of Dadra & Nagar Haveli 8. Land &
building at 51A, Udyog Vihar, Greater Noida, UP 9. Negative lien
on office building at C – 55 Preet Vihar, Vikas Marg, New Delhi 10. Land &
building at survey no. 851, of Medchal village and Mandal, Ranga ready
district Andhra Padesh The above properties
provided to secure the total credit limits of Rs. 585.500 millions FUND BASED Amount in Rs. Millions 1. CC [hyp.] /
WCDL Rs. 110.000 3. OD-Book
Debts Rs. 139.000 5. IBP/IBD Rs.
1.000 6. Term
loan-Sikkim proj. Rs. 5.500 7. Term
loan-New Rs. 200.000
-----------------------------
Rs. 455.500
------------------------------ NON FUND
BASED Amount in Rs.
Millions 1. Letter of
Credit Rs.
100.000 2. Bank
Guarantee Rs. 10.000
3. LC for DA/DP] Rs. 20.000
-----------------------------
Rs. 130.000
----------------------------- Grand Total Rs.
585.500
----------------------------- |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
ROI : BPLR – 3% [minimum 8%] p.a. on monthly rests. Repayment I 5 years in 20 quarterly installments after moratorium of
one year Personal Guarantee of following directors to cover the fresh term loan
exposure :- 1. Sheela Gautam 2. Rahul Gautam 3. Namita Gautam 4. Praduman Patel 5. Ravindra Sharma |
|
5) Name and
Address and description of the person entitled to the charge. |
Central Bank of India Parliament Street, New Delhi |
|
6) Date and brief description of instrument
modifying the charge |
N.A. |
|
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. |
N.A. |
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.43.47 |
|
UK Pound |
1 |
Rs.85.36 |
|
Euro |
1 |
Rs.57.89 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
62 |
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 |
|