MIRA INFORM REPORT

 

 

Report Date :

13.10.2007

 

IDENTIFICATION DETAILS

 

Name :

BANNARI AMMAN APPAREL PRIVATE LIMITED

 

 

Registered Office :

252, Mettupalayam Road, Coimbatore – 641043, Tamilnadu

 

 

Country :

India

 

 

Date of Incorporation :

11.12.2006

 

 

Com. Reg. No.:

13276

 

 

CIN No.:

[Company Identification No.]

U18101TZ2006PTC013276

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEB06155C

 

 

PAN No.:

[Permanent Account No.]

AADCB0715F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturers and exporters all kinds of fabrics, textiles and garments. 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

--

 

 

Status :

New Company

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a new company and a part of a medium - sized group in South India. Directors are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are reported as fair. Payments are reported as slow but correct.

 

In view of strong promoters the company can be considered normal for small to mediocre business dealings at usual trade terms and conditions.

 

 

LOCATIONS

 

Registered Office :

252, Mettupalayam Road, Coimbatore – 641043, Tamilnadu, India

E-Mail :

afl@vsnl.com

Website :

http://www.bannariapparel.com/ [Under Construction]

 

 

Corporate Office  :

Plot No. 45, Ranga Colony, Main Road, Indian Bank, Rajakilpakkam, Chennai – 600073, Tamilnadu, India 

Tel. No.:

91-44-04544405

Fax No.:

91-44-64544496

 

 

DIRECTORS

 

Name :

Mr. S V Balasubramaniam

Designation :

Director

Address :

32, Rukmani Nagar, Trichy Road, Coimbatore – 641045, Tamilnadu, India

Tel No.: 91-422-2302277

Fax No.: 91-422-2309999

Email : shares@bannari.com

Date of Birth/Age :

04.02.1940

Other Directorship :

Annamallai Industries Limited

CIN No.: U00000TZ1988PLC002138

 

Annamallai Infrastructures Limited

CIN No.: U70101TZ1988PLC002129

 

Bannari Anman Sugars Limited

CIN No.: L15421TZ1983PLC001358

 

Bannarimman Finance Limited

CIN No.: U65999TZ1987PLC002083

 

Bannari Amman Spinning Mills Limited

CIN No.: L17111TZ1989PLC002476

 

Coimbatore Agro Industries Limited

CIN No.: U01409TZ1946PLC000028

 

Cream Investment And Trading Company Limited

CIN No.: U65990MH1981PLC024842

 

Kerala Alcoholic Products Limited

CIN No.:  U15511KL1992PLC006604

 

Shiva Cargo Movers Limited

CIN No.: U00630TZ1985PLC001584

 

Shiva Distilleries Limited

CIN No.: U01551TZ1982PLC001218

 

Shiva Texyarn Limited

CIN No.: L6592TZ1980PLC000945

 

Bannari Anman Enterprises Limited

CIN No.: U65993KA1994PLC015933

 

Indian Sugar And General Industries Exports Importers Company

CIN No.: U99999DL1969PTC005106

 

Bannari Amman Exports Limited

CIN No.: U05121TZ1995PLC005859

 

Annamallai Enterprises Private Limited

CIN No.: U05110TZ1981PTC001061

 

 

Name :

Mr. S V Arumugam

Designation :

Director

Address :

68/1, Bharathi Park, 7th Cross, Coimbatore – 641011, Tamilnadu, India

Tel No.: 91-422-2434466

Fax No.: 91-422-2434446

Date of Birth/Age :

14.03.1949

Other Directorship :

Annamallai Industries Limited

CIN No.: U00000TZ1988PLC002138

 

Annamallai Infrastructures Limited

CIN No.: U70101TZ1988PLC002129

 

Bannari Anman Sugars Limited

CIN No.: L15421TZ1983PLC001358

 

Bannarimman Finance Limited

CIN No.: U65999TZ1987PLC002083

 

Bannari Amman Spinning Mills Limited

CIN No.: L17111TZ1989PLC002476

 

Coimbatore Agro Industries Limited

CIN No.: U01409TZ1946PLC000028

 

Cream Investment And Trading Company Limited

CIN No.: U65990MH1981PLC024842

 

Kerala Alcoholic Products Limited

CIN No.:  U15511KL1992PLC006604

 

Shiva Cargo Movers Limited

CIN No.: U00630TZ1985PLC001584

 

Shiva Distilleries Limited

CIN No.: U01551TZ1982PLC001218

 

Shiva Texyarn Limited

CIN No.: L6592TZ1980PLC000945

 

Bannari Anman Enterprises Limited

CIN No.: U65993KA1994PLC015933

 

Annamallai Estates Private Limited 

CIN No.: U70101TZ1988PTC002131

 

Bannari Amman Exports Limited

CIN No.: U05121TZ1995PLC005859

 

Annamallai Enterprises Private Limited

CIN No.: U05110TZ1981PTC001061

 

 

Name :

Mr. S V Alagappan

Designation :

Director

Address :

71-D, K G Layout, Bharathi Park, 7th Cross, Coimbatore – 641011, Tamilnadu, India

Tel No.: 91-422-2434499

Fax No.: 91-422-2434446

Date of Birth/Age :

28.10.1941

Other Directorship :

Annamallai Industries Limited

CIN No.: U00000TZ1988PLC002138

 

Annamallai Infrastructures Limited

CIN No.: U70101TZ1988PLC002129

 

Bannari Anman Sugars Limited

CIN No.: L15421TZ1983PLC001358

 

Bannarimman Finance Limited

CIN No.: U65999TZ1987PLC002083

 

Bannari Amman Spinning Mills Limited

CIN No.: L17111TZ1989PLC002476

 

Coimbatore Agro Industries Limited

CIN No.: U01409TZ1946PLC000028

 

Cream Investment And Trading Company Limited

CIN No.: U65990MH1981PLC024842

 

Kerala Alcoholic Products Limited

CIN No.:  U15511KL1992PLC006604

 

Shiva Cargo Movers Limited

CIN No.: U00630TZ1985PLC001584

 

Shiva Distilleries Limited

CIN No.: U01551TZ1982PLC001218

 

Shiva Texyarn Limited

CIN No.: L6592TZ1980PLC000945

 

Bannari Anman Enterprises Limited

CIN No.: U65993KA1994PLC015933

 

Annamallai Estates Private Limited 

CIN No.: U70101TZ1988PTC002131

 

Bannari Amman Exports Limited

CIN No.: U05121TZ1995PLC005859

 

Annamallai Enterprises Private Limited

CIN No.: U05110TZ1981PTC001061

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

No. of Shares

Percentage of Holding

S V Balasubramaniam

 

5000

S V Arumugam

 

5000

Total

 

10000

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers and exporters all kinds of fabrics, textiles and garments. 

 

 

GENERAL INFORMATION

 

Bankers :

Oriental Bank of Commerce,

1057 Avinashi Road, Coimbatore – 641002, Tamilnadu, India

 

 

 

Banking Relations :

Satisfactory

 

 

Associates/Subsidiaries :

Annamallai Industries Limited

CIN No.: U00000TZ1988PLC002138

 

Annamallai Infrastructures Limited

CIN No.: U70101TZ1988PLC002129

 

Bannari Anman Sugars Limited

CIN No.: L15421TZ1983PLC001358

 

Bannarimman Finance Limited

CIN No.: U65999TZ1987PLC002083

 

Bannari Amman Spinning Mills Limited

CIN No.: L17111TZ1989PLC002476

 

Coimbatore Agro Industries Limited

CIN No.: U01409TZ1946PLC000028

 

Cream Investment And Trading Company Limited

CIN No.: U65990MH1981PLC024842

 

Kerala Alcoholic Products Limited

CIN No.:  U15511KL1992PLC006604

 

Shiva Cargo Movers Limited

CIN No.: U00630TZ1985PLC001584

 

Shiva Distilleries Limited

CIN No.: U01551TZ1982PLC001218

 

Shiva Texyarn Limited

CIN No.: L6592TZ1980PLC000945

 

Bannari Anman Enterprises Limited

CIN No.: U65993KA1994PLC015933

 

Annamallai Estates Private Limited 

CIN No.: U70101TZ1988PTC002131

 

Bannari Amman Exports Limited

CIN No.: U05121TZ1995PLC005859

 

Annamallai Enterprises Private Limited

CIN No.: U05110TZ1981PTC001061

 

Indian Sugar And General Industries Exports Importers Company

CIN No.: U99999DL1969PTC005106

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

10,000,000

Equity Shares

Rs. 10/- each

Rs. 100.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs. 10/- each

Rs. 0.100 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

Not Available


 

 

LOCAL AGENCY FURTHER INFORMATION

 

Bankers Charges Report as per Registry

 

This form is for

Modification of charge

Charge identification number of the charge to be modified

10048643

Corporate identity number of the company

U18101TZ2006PTC013276

Name of the company

BANNARI AMMAN APPAREL PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

252, Mettupalayam Road, Coimbatore – 641043, Tamilnadu, India

Type of charge

Immovable property 

Particular of charge holder

Oriental Bank of Commerce,

1057 Avinashi Road, Coimbatore – 641002, Tamilnadu, India

Bm1044@obcmail.co.in

Nature of description of the instrument creating or modifying the charge

  • Memorandum of deposit of title deeds

Date of instrument Creating the charge

09.04.2007

Amount secured by the charge

Rs. 576.000 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Extent operation of the charge

The Credit Limit is secured by Deposit of title deeds of vacant land situated at No. 121, Kattuputhur Village, Uthramerur Taluk, Kancheepuram District measuring 5.57 acres.

Short particulars of the property charged

The Credit Limit is secured by Deposit of title deeds of vacant land situated at No. 121, Kattuputhur Village, Uthramerur Taluk, Kancheepuram District measuring 5.57 acres.

Date of latest modification prior to the present modification

14.03.2007

Particulars of the present modification 

Term Loan of Rs. 576 Millions sanctioned by Oriental bank of Commerce is collaterally secured by Memorandum of Deposit of Title Deeds of the company.  

 

 

 

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 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.39.31

UK Pound

1

Rs.79.98

Euro

1

Rs.55.71

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

27

 

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.

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions