- Summary Information
|
Company Name |
SURYA EXIM LIMITED |
Principal Name 1 |
Mr. Rameshwarlal
Saboo |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Narendra
Saboo |
|
Street Address |
3040, Jash Textile and Yarn Market, Ring Road, Surat – 395002, Gujarat |
||
|
Established Date |
28.06.1989 |
SIC Code |
-- |
|
Telephone# |
91-261-2325005 |
Business Style 1 |
Trader |
|
Fax # |
91-261-2328842 |
Business Style 2 |
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|
Homepage |
NA |
Product Name 1 |
Non Coking Steam
Coal |
|
# of employees |
40 |
Product Name 2 |
Paper Board |
|
Paid up capital |
Rs.50000000 |
Product Name 3 |
Polyester Yarn |
|
Shareholders |
Directors
or relatives of directors – 52.00% |
Banking |
Canara Bank |
|
Public Limited Corp. |
NO |
Business Period |
19 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public Enterprise |
NO |
Rating |
Ba |
|
Related Company |
|||
|
Relation: Associate |
Country: India |
Company Name |
· J. P. Saboo and Company · Shree JPSCO
Consultants Private
Limited |
|
Note |
- |
||
- Summary Financial Statement
|
Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
308630000 |
Current Liabilities |
343543000 |
|
Inventories |
166064000 |
Long-term Liabilities |
80114000 |
|
Fixed Assets |
30016000 |
Other Liabilities |
673000 |
|
Deferred Assets |
0 |
Total Liabilities |
424330000 |
|
Invest& other Assets |
508000 |
Retained Earnings |
30888000 |
|
|
0 |
Net Worth |
80888000 |
|
Total Assets |
505218000 |
Total Liab. & Equity |
505218000 |
|
Total Assets (Previous Year) |
335951000 |
|
|
|
P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Sales |
1218156000 |
Net Profit |
12749000 |
|
Sales(Previous yr) |
656310000 |
Net Profit(Prev.yr) |
6646000 |
MIRA
INFORM REPORT
|
Report Date : |
15.12.2008 |
IDENTIFICATION DETAILS
|
Name : |
SURYA EXIM
LIMITED |
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Registered Office : |
3040, Jash
Textile and Yarn Market, Ring Road, Surat – 395002, Gujarat |
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Country : |
India |
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|
Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
28.06.1989 |
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Com. Reg. No.: |
04-12428 |
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|
CIN No.: [Company
Identification No.] |
U51100GJ1989PLC012428 |
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|
IEC No.: |
5299004150 |
|
|
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|
TAN No.: [Tax
Deduction & Collection Account No.] |
SRTS05536G |
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PAN No.: [Permanent
Account No.] |
AABCP4158J |
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|
Legal Form : |
A closely held
public limited liability company. |
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|
Line of Business : |
The company is
engaged in trading of Non Coking Steam Coal, Paper Board and Polyester Yarn. |
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 400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Trade relations are fair. General
financial position is satisfactory. Payments are reported as slow but
correct. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
3040, Jash Textile
and Yarn Market, Ring Road, Surat – 395002, Gujarat, India |
|
Tel. No.: |
91-261-2325005 |
|
Mobile No.: |
91-9824141920 |
|
Fax No.: |
91-261-2328842 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Survery No. 51,
Moje Gravier, Taluka-Choryast-Magdalla, Surat |
|
Tel. No.: |
91-261-6598512 |
|
Fax No.: |
91-261-2328842 |
|
Area : |
106000 sq. ft.
Approx |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Rameshwarlal
Saboo |
|
Designation : |
Director |
|
Address : |
3/A, Nidhiwan
Estate, B/H Gokul Row House, Umra, Surat |
|
Date of Appointment : |
28.06.1989 |
|
Date of Retirement : |
06.09.2000 |
|
|
|
|
Name : |
Mr. Narendra
Saboo |
|
Designation : |
Director |
|
Address : |
202, Creator
Camp, Ghod Dod Road, Surat |
|
Date of Appointment : |
28.06.1989 |
|
Date of Retirement : |
09.02.1994 |
|
|
|
|
Name : |
Mr. Guladbchand
Dhoot |
|
Designation : |
Director |
|
Address : |
61/6, G T Road, 3rd
Floor, Pikhara, Howrah North, West Bengal |
|
Date of Appointment : |
27.12.1990 |
|
Date of Retirement : |
31.07.1991
(Expired On) |
|
|
|
|
Name : |
Mr. Naval Kishor
Rathi |
|
Designation : |
Director |
|
Address : |
1045, Mahavir Textile
Market, Ring Road, Surat |
|
Date of Appointment : |
06.09.2000 |
|
Date of Retirement : |
22.05.2003 |
|
|
|
|
Name : |
Mr. Liladhar
Sarda |
|
Designation : |
Director |
|
Address : |
211 M. G. Market,
Ring Road, Surat |
|
Date of Appointment : |
06.09.2000 |
|
Date of Retirement : |
22.05.2003 |
|
|
|
|
Name : |
Mr. Ramkishor
Jajoo |
|
Designation : |
Director |
|
Address : |
49, Pratishtha
Awas, Sardi Wadi, Ghod – Dod Road, Surat |
|
Date of Appointment : |
06.09.2000 |
|
Date of Retirement : |
21.12.2000 |
|
|
|
|
Name : |
Mr. Damodar
Prasad Jajoo |
|
Designation : |
Director |
|
Address : |
49, Pratishtha
Awas, Sardi Wadi, Ghod – Dod Road, Surat |
|
Date of Appointment : |
06.09.2000 |
|
Date of Retirement : |
21.12.2001 |
|
|
|
|
Name : |
Mr. Jagdish
Prasad Sadoo |
|
Designation : |
Director |
|
Address : |
3/A, Nidhiwan
Estate, B/H Gokul Row House, Umra, Surat |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
Chartered
Accountants |
|
Experience : |
19 Years |
|
Date of Appointment : |
27.12.1990 |
|
|
|
|
Name : |
Mr. Archana Saboo
|
|
Designation : |
Director |
|
Address : |
3/A, Nidhiwan
Estate, B/H Gokul Row House, Umra, Surat |
|
Date of Birth/Age : |
37 Years |
|
Qualification : |
B. Com |
|
Experience : |
11 Years |
|
Date of Appointment : |
07.08.200 |
|
|
|
|
Name : |
Shri Sriram
Somani |
|
Designation : |
Director |
|
Address : |
277 / 3637,
Balrampur Quarters, Asih Bagh, Lucknow – 226004 |
|
Date of Appointment : |
04.05.2003 |
|
|
|
|
Name : |
Smt. Anita Somani
|
|
Designation : |
Director |
|
Address : |
277 / 3637,
Balrampur Quarters, Asih Bagh, Lucknow – 226004 |
|
Date of Appointment : |
04.05.2003 |
|
|
|
|
Name : |
Mr. Bhalesh Mehta
|
|
Designation : |
Director |
|
Address : |
8/B, Chandan Park
Society, Near Sardar Bridge Adajan, Surat |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
M. Com |
|
Experience : |
19 Years |
|
Date of Appointment : |
05.10.2003 |
MAJOR SHAREHOLDERS
AS ON 31.03.2006
|
Names of
Shareholders |
|
No. of Shares |
|
Mr. Jagdish
Prasad Sadoo |
|
465685 |
|
Mr. Archana Saboo
|
|
237100 |
AS ON 30.09.2008
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
44.00 |
|
Directors or relatives of directors |
|
52.00 |
|
Other top fifty shareholders |
|
4.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged
in trading of Non Coking Steam Coal, Paper Board and Polyester Yarn. |
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Products : |
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Brand Names : |
“SURYA YARNS”,
“SURYA COAL” |
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Imports from : |
China |
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Terms : |
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Selling : |
Cash and Credit
(60 days) |
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Purchasing : |
L/C, Cash and
Credit (90 days) |
GENERAL INFORMATION
|
Customers : |
v
Birla
Cellulosic Limited v
Best Paper
Mills Limited v
J. K. Paper
Limited v
Metrochem
Industries Limited v
Sumeet
Industries Limited v
Sutlej
Industries Limited |
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No. of Employees : |
40 |
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Bankers : |
v
State Bank
of Maysore 62 A, Uppal Towers, Near Vaishali Cinema Varacha Road, Surat v
Canara Bank, Korsafil Main Road Branch, Surat Cash Credit : Rs. 90.000 Millions
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Facilities : |
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Banking Relations : |
Unknown |
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Auditors : |
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|
Name 1 : |
Vinod
Satyanarayan and Company Chartered
Accountants |
|
Address : |
27 Jash Marketing
, Ring Road, Surat, Gujarat |
|
Tel. No.: |
91-261-2312771 /
2340708 |
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|
Name 2 : |
Umang Tekriwal
and Company Chartered
Accountant |
|
Address : |
8007, World Trade
Center, Ring Road, Surat – 395002, Gujarat, India |
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|
|
|
Associates/Subsidiaries : |
v
J. P. Saboo
and Company 3040, Jash Marketing, Ring
Road, Surat Practising Chartered
Accountants v
Shree JPSCO Consultants
Private Limited 3041, Jash Marketing, Ring
Road, Surat Finance and Management
Consultancy |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
50.000 |
50.000 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
30.888 |
18.809 |
12.085 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
80.888 |
68.809 |
42.085 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.676 |
25.567 |
12.983 |
|
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2] Unsecured Loans |
55.438 |
15.991 |
36.569 |
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TOTAL BORROWING |
80.114 |
41.558 |
49.552 |
|
|
DEFERRED TAX LIABILITIES |
0.673 |
0.106 |
0.342 |
|
|
|
|
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TOTAL |
161.675 |
110.473 |
91.979 |
|
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|
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APPLICATION OF FUNDS |
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|
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|
|
|
|
|
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FIXED ASSETS [Net Block] |
30.016 |
18.905 |
18.139 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.508 |
0.508 |
0.508 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
166.064
|
150.676
|
103.842
|
|
|
Sundry Debtors |
192.703
|
90.277
|
90.102
|
|
|
Cash & Bank Balances |
82.389
|
56.768
|
1.084
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
33.538
|
18.818
|
28.598
|
|
Total Current Assets |
474.694
|
316.539 |
223.626
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
337.359
|
221.759 |
147.856
|
|
|
Provisions |
6.184
|
3.719 |
2.464
|
|
Total Current Liabilities |
343.543
|
225.478 |
150.320 |
|
|
Net Current Assets |
131.151
|
91.060 |
73.306
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.026 |
|
|
|
|
|
|
|
|
TOTAL |
161.675 |
110.473 |
91.979 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover [including other income] |
1218.156 |
656.310 |
394.504 |
|
|
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
18.933 |
10.365 |
6.566 |
|
|
Provision for
Taxation |
6.184 |
3.719 |
2.485 |
|
|
Profit/(Loss)
After Tax |
12.749 |
6.646 |
4.081 |
|
|
|
|
|
|
|
|
Import Value |
379.566 |
158.188 |
21.468 |
|
|
|
|
|
|
|
|
Total Expenditure |
|
|
|
|
|
|
Cost of Goods Sold
|
1106.951 |
582.454 |
337.709 |
|
|
Direct Expenses |
23.867 |
24.921 |
23.787 |
|
|
Office
Administrative and Other |
7.211 |
7.054 |
3.954 |
|
|
Selling and
Distribution Expenses |
37.344 |
17.826 |
13.398 |
|
|
Financial Charges |
21.701 |
11.336 |
6.163 |
|
|
Depreciation |
2.149 |
2.329 |
2.885 |
|
|
Other Expenses |
0.000 |
0.025 |
0.042 |
|
Total Expenditure |
1199.223 |
645.945 |
387.938 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
01.04 |
01.01 |
1.03
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
01.55 |
01.57 |
1.66
|
|
|
|
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|
|
|
Return on Total
Assets (PBT/Total Assets} |
(%) |
03.74 |
03.08 |
2.71
|
|
|
|
|
|
|
|
Return on
Investment (ROI) (PBT/Networth) |
|
0.23 |
0.15 |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total
Liability/Networth) |
|
5.23 |
0.97 |
4.74
|
|
|
|
|
|
|
|
Current Ratio (Current
Asset/Current Liability) |
|
1.38 |
1.40 |
1.48
|
LOCAL AGENCY FURTHER INFORMATION
Operations
The company
has recorded satisfactory performance for the year. Revenue and net profit have
recorded a significant improvement over the previous year. Despite competition
from the coal yarn market, the company has been able to hold its position and
has taken the advantages of available opportunities.
Trade
Reference
v
Birla
Cellulosic Limited
Post-Birla Dham,
karanj, Kosamba, Dist Bharuch
Mr. K. K. Birla
91-2646-270001-5
v
Best Paper
Mills Limited
Phase-I, GIDC, SBI
Road, Vapi
Mr. Ketan Bhai
91-98241-99919
v
J. K. Paper
Limited
Post-Central Pulp
Mills, Fort Songarh, Dist – Surat
Mr. R. K. Jain
91-2624-22147
v
Metrochem
Industries Limited
Village- Umraya, Taluka Padra, Dist : Baroda
Mr. Harma Ji
91-9327226348
v
Sumeet
Industries Limited
Plot No. 291/292,
Village Karanj, Taluka Kim Dist. Surat
Mr. Shanker Lal
Somani
91-987959510
v
Sutlej Industries
Limited
Village – Delhi
Taluka Bhilad, Dist- Valsad
Mr. Anil Goyal
91-260-2785607
v
Zhejiang
Huaxin Chemical Fiber Company Limited
No. 1, Jingshi
Road, Yuyao Zhejiang P. R. C.
Fixed
Assets
v Furniture and Fixture
v
Vehicles
v
Cycle
v
Car
v
Computer
v
Coal Warehouse
v
Electrical
Installation
v
Land
v
Plant and
Machinery
v
Weightment
Machines
v
Factory Shed
v
Pipeline and
Fitting
v
Screening
Plant
v
Neon Sine
Board
v
Generator
v
Pay Loader
v
Tea / Coffee
Machine
v
Cell Phone
v
Air
Conditioners
v
Time Control Machine
|
Name of the company |
SURYA EXIM LIMITED |
|
Presented By |
Mr. Jagdish Prasad Saboo,
Director |
|
1) Date and description of instrument creating the change |
Deed of Equitable Mortgage dated 01.02.2001 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit (Hypothecation of Stock) : Rs. 4.000 Millions Cash Credit (Hypothecation of Book debts) : Rs. 4.000 millions LC (Foreign / Inland) : Rs. 10.000 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 |
Equitable Mortgage of Leased flat of the company admeasuring about 3500 sq. ft. situated at Plot No. 65 T P Scheme No. 5, Survey No. 36/1, Flat No. 3/A, Jash Textile and Yarn Market, Ring Road, Surat – 395002, Gujarat, India Acquired on lease on 01.11.2000 valued at Rs. 6.879 millions |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Cash credit (Hypo of Stock) margin 25 % Interest rate – 15 % Cash credit (Hypo of Book debts) Margin 50 % Interest rate 15 % LC (Foreign / Inland) Margin 25 % Tenor 90 to 180 days. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of Mysore, 62 A, Uppal Towers, Near Vaishali Cinema Varacha Road, Surat |
|
6) Date and brief description of instrument modifying the charge |
Agreement dated 21.01.2004 of hypothecation overall current assets including stock and 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. |
v Cash credit (Hypothecation of Stock) : Rs. 4.000 Millions v LC Bills Discounting : Rs. 15.000 millions v LC (Inland) : Rs. 10.000 Millions v Hypothecation of Stock of Non Cocking Coal v Hypothecated goods be insured for full value and policy be endorsed in the favour of bank v Inland Usance Bills discounting with tenor upto 90 days v Personal Guarantee of all the Director |
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Name of the company |
SURYA EXIM LIMITED |
|
Presented By |
Mr. Jagdish Prasad Saboo,
Director |
|
1) Date and description of instrument creating the change |
Hypothecation agreement dated 07.07.2005 Deed of Equitable Mortgage dated 07.07.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
OCC (Hypothecation of Stock and Book debts) : Rs. 15.000 millions ILC / FLC (DA/DP) (90 days) : Rs. 45.000 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 Stock (RM / SFG / FG) and Book debts Hypothecation of Stock Plant and Machinery installed at Go down cum sorting unit at Magdalla valued at Rs. 1.426 millions as per ABS of 03-04 Equitable Mortgage of Go down cum sorting unit situate at Survey No. 51 Moje Gravie, ABG Shipyard Road, Magadalla Taluka Choryasi Surat Valued at Rs. 30.636 millions |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
OCC (Hypothecation of Stock) margin 25 % interest rate : 13.75 % OCC (Hyp. Of Book Debts) : Margin 40 % Interest rate : 13.75 % ILC/ FLC (DA/ DP) Margin 25 % tenor 90 days |
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Korsafil Main Road Branch, Surat |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
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 Applicable |
|
This form is for |
Modification of
charge |
||||||
|
Charge
identification number of the modified
|
90113004 |
||||||
|
Corporate
identity number of the company |
U51100GJ1989PLC012428 |
||||||
|
Name of the
company |
SURYA EXIM
LIMITED |
||||||
|
Address of the registered
office or of the principal place of
business in India of the company |
3040, Jash
Textile and Yarn Market, Ring Road, Surat – 395002, Gujarat, India |
||||||
|
Type of charge |
Book Debts Movable Property Others |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
common hypothecation agreement dated 16.07.2007 Section letter
dated 16.07.2007 Appendix – 16 Plant and
Machinery |
||||||
|
Date of
instrument Creating the charge |
16.07.2007 |
||||||
|
Amount secured by
the charge |
Rs.280.000
Millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
letter Terms of
Repayment As per sanction
letter Margin As per sanction
letter Extent and
Operation of the charge As per sanction letter
Others As per sanction
letter |
||||||
|
Short particulars
of the property charged |
Stock in trade of
the company and book debts of company plant and machinery at godown. Eg.
Mortgage godown- R. S. No.51, Moje Gravier, ABG Shipyard Road, Magdalla, Choryasi,
Surat; Flat no.3A, Nidhivan Appartment, Brijwasi Estate, Gokul Row House,
Parle Point, Surat. Residential Flat situated at 4-C, Pallavi Apartment,
Dumas Road, Haweli Temple, Surat. |
||||||
|
Date of latest
modification prior to the present modification |
08.01.2007 |
||||||
|
Particulars of
the present modification |
Increase in total
exposure of the bank by enhancement of L/C limit (DA Basis) by Rs.16500.000
Millions for 90 Days and OCC Limit by Rs.500.000 Millions |
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.48.71 |
|
UK Pound |
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.64.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
|
46 |
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 |
|