MIRA
INFORM REPORT
|
Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GPT STEEL INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
301, Mithirohar, GIDC Estate, Phase II, Gandhidham, Gujarat-370201 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
17.10.2003 |
|
|
|
|
Com. Reg. No.: |
04-43070 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27104GJ2003PLC043070 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BRDG00715B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCG0010H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of
tin plate, Tin mill black plate and cold rolled steel products. |
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 : |
USD 10000000 |
|
|
|
|
Status : |
New Project |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject project
is under implementation. The company was started with a large capital. It has
been successful is seeking a huge term loans from syndication of several
banks. Trade relations are fair. Payments are unknown. The company can
be considered for normal business dealings at usual trade terms and
conditions with some caution, initially. |
LOCATIONS
|
Registered Office/ Factory : |
301, Mithirohar, GIDC Estate, Phase II, Gandhidham, Gujarat-370201,
India |
|
Tel. No.: |
91-2836-570468 |
|
Fax No.: |
91-2836-299988 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
509-B, Sagar Tech
plaza, Sakinaka, Mumbai-400072. |
|
Tel. No.: |
91-22-56964291/92 |
|
Fax No.: |
91-9323707063 |
|
Mobile No. : |
91-22-28598496 |
|
|
|
|
Corporate Office : |
305 Business
Point, 349 Western Express Highway, Andheri (E), Mumbai – 400069, India |
|
Tel. No.: |
91-22-67513500 |
|
Fax No.: |
91-22-67049560 |
|
E-Mail : |
|
|
|
|
|
Branch office : |
Located at :- Orchid Plaza, Ground Floor, Sun City, Sector 54, Gurgaon-122002,
Haryana, India |
|
Tel. No.: |
91-124-4353600 |
|
Fax No.: |
91-124-4353602 |
|
E-Mail : |
|
|
|
|
|
Branch office : |
Located at :- Plot No. E/9, GIDC Estate, Manjusar, Savil, Vadodara-390005, Gujarat,
India |
|
Tel. No.: |
91-2667-264705/ 6 |
|
Fax No.: |
91-2667-264707 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Asutosh Daya Srivastav |
|
Designation : |
Director |
|
Address : |
401, Vrindavan Housing Society, Opposite I.I.T, Main Gate, Powai,
Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
29.03.1963 |
|
|
|
|
Name : |
Mrs. Mitasree Satyaram Basu |
|
Designation : |
Director |
|
Address : |
2nd Floor, Natasha Sea View, 89A, Carter Road, Bandra,
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1961 |
|
|
|
|
Name : |
Mr. Devesah Amubhai Pathak |
|
Designation : |
Director |
|
Address : |
51, Udyog nagar, Society, Near Ayurvesdic College, Outside Panigate,
Vadodara-390019, Gujarat, India |
|
Date of Birth/Age : |
03.12.1957 |
|
|
|
|
Name : |
Mr. Satyam Basu |
|
Designation : |
Director |
|
Address : |
2nd Floor, Natasha Sea View, 89A, Carter Road, Bandra,
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
16.10.1958 |
|
Date of Appointment : |
17.10.2003 |
|
|
|
|
Name : |
Mr. Rajan Amritlal Parikh |
|
Designation : |
Whole-time-director |
|
Address : |
16, Mandi Hills, Mandi Village, New Delhi-110047, India |
|
Date of Birth/Age : |
19.01.1956 |
|
Date of Appointment : |
17.10.2003 |
|
|
|
|
Name : |
Mr. Ajay Lal |
|
Designation : |
Director |
|
Address : |
Villa No. – 120, The Laburnum, Sushant Lok – I, Gurgaon-122001,
Haryana, India |
|
Date of Birth/Age : |
08.08.1961 |
|
Date of Appointment : |
24.07.2006 |
|
|
|
|
Name : |
Mr. Hari Mohan Prasad Singh |
|
Designation : |
Managing Director |
|
Address : |
Sector I/B, Qurater No. 1266, Bokaro Steel city, Bokaro-8727001,
Jharkhand, India |
|
Date of Birth/Age : |
01.02.1946 |
|
Date of Appointment : |
02.05.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Hari Bhambhani |
|
Designation : |
Secretary |
|
Address : |
305, Business point 349, Western Express highway, Andheri (East),
Mumbai-400069, Maharashtra, India |
|
Date of Birth/Age : |
21.07.1974 |
|
Date of Appointment : |
23.03.2004 |
|
|
|
|
Name : |
Mr. Anil H.
Bhambhai |
|
Designation : |
Key Exeutive |
|
Address : |
205, Shiv Shakti
Complex, Alkapuri, Vadodara-390007, Gujarat State, India |
|
Qualification : |
B.Com, CS, DTP
LLB. |
|
|
|
|
Name : |
Mr. Birendra Jee |
|
Designation : |
Executive in charge |
|
Address : |
Gandhidham |
|
|
|
|
Name : |
Mr. Siddique Ali |
|
Designation : |
Chief Technologist |
|
|
|
|
Name : |
Mr. Anand Mishra |
|
Designation : |
Technical |
|
|
|
|
Name : |
Mr. Ashish Sinha |
|
Designation : |
Electrical |
|
|
|
|
Name : |
Mr. Ranjit Sengupta |
|
Designation : |
CFO |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.03.2008
|
Names of Allottees |
|
No. of Shares Alloted |
|
Amir Master |
|
57712 |
|
Astha Limited |
|
865151 |
|
Sun Perfect Finance Limited |
|
769246 |
|
Sandhill Group LLC |
|
192262 |
|
Gopal Shrinivasan |
|
215217 |
|
Shaunat Parikh |
|
58639 |
|
Jitesh Parikh |
|
58640 |
|
Parag Parikh |
|
58640 |
|
Total |
|
2275507 |
Equity Share Breakup (Percentage of Total Equity)
As on 21.09.2007
|
Category |
|
Percentage |
|
Foreign holdings (Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas corporate bodies or Others |
|
94.79 |
|
Bodies Corporate (not mentioned above) |
|
2.18 |
|
Directors or relatives of directros |
|
0.62 |
|
Other top fifty (50) shareholders (other than listed above) |
|
2.40 |
|
Others |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of
tin plate, Tin mill black plate and cold rolled steel products. |
||||||||
|
|
|
||||||||
|
Products : |
Ř Cold Rolled Full
Hard (CRFH) Ř Cold Rolled
Close Annealed (CRCA) Ř Tin Mill Black
Plate (TMBP) Ř Tin Plate |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Countries : |
Ř Europe Ř U.S.A. Ř Korea |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C |
GENERAL
INFORMATION
|
Suppliers : |
PowerDeal Energy
Systems (India) Private Limited F-29, MIDC,
Satpur, Nasik-422007, Maharashtra, India |
||||||||||||
|
Tel No.: |
91-253-3048114,3048130 |
||||||||||||
|
Fax No.: |
91-253-3048133 |
||||||||||||
|
Email: |
|||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
85 |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Ř State Bank of India,
Shrijmali Society Branch, Ahemdabad-380009, Gujarat, India Ř Bank of India, Sakinaka, Mumbai Ř
Bank of
India, Baroda Ř
Bank of
India, Gandhidham Ř
Punjab
National Bank, Ahmedabad Ř
Punjab
National Bank, New Delhi Ř
Standard
chartered bank, Baroda Ř
State bank
of India – Ahmedabad Ř
State bank
of Travancore – Baroda Ř
Syndicate
Bank - Mumbai Ř UCO Bank – Mumbai Ř Union Bank of India - Mumbai Ř Andhra Bank, Corporate Finance Branch,
Nariman Point, Mumbai-400021, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
Unknown |
|
|
|
|
Auditors : |
|
|
Name : |
RSM and Company Chartered Accountant |
|
Address : |
Ambit RSM House, 449, Senapati Bapat Marg, Lower Parel, Mumbai-400013,
Maharashtra, India |
|
|
|
|
Name : |
Arvind A. Thakkar
and Company Chartered
Accountants |
|
Address : |
Ground Floor,
Trupti Apartments, Behind Old High Court, Navrangpura, Ahmedabad – 380009 |
|
Tel. No.: |
91-79-27543650 /
8013650 |
|
E-Mail : |
|
|
|
|
|
Associates/Subsidiaries : |
Ř GPT Pipe Industries Private Limited Ř GPT Power and Spnoge Iron Private Limited Ř Parikh Steel Private Limited |
|
|
|
|
Parent company : |
GPT Steel Industries (UK) Limited., HALLSWELLE HOUSE, 17, HALLSWELLE
ROAD, LONDON NW11 0DH. |
CAPITAL STRUCTURE
As on 21.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
255000000 |
Equity Shares |
Rs. 10/- each |
Rs. 2550.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000000 |
Equity Shares |
Rs. 10/-
each |
Rs. 2500.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2500.000 |
2083.394 |
876.278 |
|
|
2] Share Application Money |
43.340 |
1.111 |
0.000 |
|
|
3] Reserves & Surplus |
355.193 |
15.413 |
32.691 |
|
|
4] (Accumulated Losses) |
[809.301] |
[146.404] |
0.000 |
|
|
NETWORTH |
2089.232 |
1953.514 |
908.969 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5107.760 |
2882.558 |
0.000 |
|
|
2] Unsecured Loans |
24.484 |
0.000 |
17.957 |
|
|
TOTAL BORROWING |
5132.244 |
2882.558 |
17.957 |
|
|
DEFERRED TAX LIABILITIES |
6.615 |
7.394 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7228.091 |
4843.466 |
926.926 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3354.115 |
1796.766 |
27.159 |
|
|
Capital work-in-progress |
2842.686 |
3124.006 |
91.790 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
Unallocated
Expenditure During Construction |
0.000 |
0.000 |
82.376 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2602.079
|
171.891 |
0.000 |
|
|
Sundry Debtors |
319.573
|
70.213 |
0.000 |
|
|
Cash & Bank Balances |
224.113
|
134.674 |
0.536 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
192.710
|
56.222 |
749.288 |
|
Total
Current Assets |
3338.475
|
433.000 |
749.824 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
2310.995
|
516.582 |
29.878 |
|
|
Provisions |
3.053
|
2.876 |
0.000 |
|
Total
Current Liabilities |
2314.048
|
519.458 |
29.878 |
|
|
Net Current Assets |
1024.427
|
[86.458] |
719.946 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
6.863 |
9.152 |
5.655 |
|
|
|
|
|
|
|
|
TOTAL |
7228.091 |
4843.466 |
926.926 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
|
|
|
|
|
|
Sales Turnover |
|
938.874 |
60.362 |
|
|
Other Income |
|
43.859 |
1.168 |
|
|
Total Income |
|
982.733 |
61.530 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
[661.826] |
[145.329] |
|
|
Provision for Taxation |
|
1.071 |
1.075 |
|
|
Profit/(Loss) After Tax |
|
[660.755] |
[144.254] |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
|
47.138 |
0.000 |
|
Total Earnings |
|
47.138 |
0.000 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
|
1284.620 |
53.244 |
|
|
Consumption of stores and spares parts |
|
32.097 |
0.000 |
|
|
Increase/(Decrease) in Finished Goods |
|
[253.637] |
[2.149] |
|
|
Salaries, Wages, Bonus, etc. |
|
65.587 |
27.688 |
|
|
Payment to Auditors |
|
1.300 |
1.492 |
|
|
Interest |
|
292.122 |
36.708 |
|
|
Insurance Expenses |
|
13.451 |
0.081 |
|
|
Power & Fuel |
|
61.588 |
2.311 |
|
|
Depreciation & Amortization |
|
67.199 |
60.331 |
|
|
Other Expenditure |
|
80.232 |
27.153 |
|
Total Expenditure |
|
1644.559 |
206.859 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
[67.24]
|
[234.44] |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
[70.49]
|
[240.76] |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[9.89]
|
[6.52] |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.32]
|
[0.07] |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.56
|
1.74 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44
|
0.83 |
25.10 |
LOCAL AGENCY
FURTHER INFORMATION
The registered office of the company has been shifted from 808 B, Atma
House, Opposite RBI Building, Asram Road, Ahmedabad-380013, Gujarat, India to
present address w.e.f. 30.08.2006.
Business:
v
Electrolytic
Tinplate (ETP), for use in high-end Packaging, aerosol cans, food processing,
household items, engineering item etc.
v
Cold Rolled
Close Annealed (CRCA) in coils, for production of drums, barrels, automobile
components and as input raw material for EYP and TMBP.
v
Cold Rolled
Full Hard (CRFH) coils, for annealing, tinning, galvanizing, which are required
by the construction industry.
Fixed Assets :
Ř Lease Hold Land
Ř Furniture and Fixture
Ř Electrical Equipments
Ř Computer
Ř
Vehicles
Bankers Charges
Report as per Registry
|
Name of the company |
GPT STEEL INDUSTRIES LIMITED |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Presented By |
Mr. Anil Bhambhani |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
Indenture of mortgage dated 10th March 2005, executed
by GPT steel industries Limited in favour of :
State Bank of India (Lead bank) Andhra Bank Bank of India Jammu and Kashmir Bank Limited Punjab National Bank State Bank of Bikaner and Jaipur State Bank of Indore State Bank of Saurashtra State Bank of Tranvencore Syndicate Bank UCO Bank Union Bank of India
Hereafter referred t as “as SBI consortium Banks” with the charges to rank pari passu. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Fund based and Non-fund Based facility of Rs. 3275.000
millions granted by the SBI consortium Banks as per details given below.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
All the piece or parcel of land being the property bearing
NO. 301 at Mithirohar Industrial Estate consisting of Revenue Sy No. 537/p
more particularly described in First schedule The whole of the Moveable properties of the company attributable to the project whether affixed to the earth or nor and other properties present or future both tangible and intangible assets including its movable plant and machinery and which is more particularly described in Third schedule of indenture or mortgage. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The security as described in series No. 3 above are
hypothecated as First Charges on Parpassu basis to all the Banks in SBI
facility and Bank Guarantee aggregating Rs. 3275.000 millions granted to the
company by afore mentioned Banks
Interest commission shall be charged on the outstanding in the account maintained by the company with each Banks at such rates as applicable form time to time as per RBI / FEDAI Banks instrument. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
India (Lead bank) CAG Brach , 58 Shirimali Society, Navrangpura , Ahmedabad
Andhra Bank No 33 III Floor, Atlanta Nariman Point Branch, Mumbai
Bank of India MDI Building , 1st Floor S V Road Andheri West Mumbai – 58
Jammu and Kashmir Bank Limited Block – D 1st Floor North Side, Shiv Sagar Estate, Dr. A B Road , Mumbai
Punjab National Bank NSIC Bhavan, Okhla Industrial Estate New Delhi – 110020
State Bank of Bikaner and Jaipur CG Road (10-11) Empire Tower, Panchvati, Navrangpura , Ahmedabad
State Bank of Indore Ashram Road Branch, Ahmedabad
State Bank of Saurashtra IFC Branch, Gujarat Chamber of Commence Building, Ashram Road Branch, Ahmedabad
State Bank of Tranvencore PB No. 11 Ground Floor, Kaivanna, Ambawadi, Ahmedabad – 380006
Syndicate Bank 26 A Sir P M Road, Syndicate Bank Building, Fort, Mumbai – 400001
UCO Bank YMCA International Guest House, 18 Madam Cama Road, Mumbai – 400039
Union Bank of India Union Bank of Bhavan 239 Bidhan Bhavan Marg, Nariman Point, Mumbai |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
NA |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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. |
NA |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U27104GJ2003PLC043070 |
|
Name of the
company |
GPT STEEL INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
301, Mithirohar, GIDC Estate, Phase II, Gandhidham, Gujarat-370201,
India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Andhra Bank,
Corporate Finance Branch, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
entry dated 04.05.2007 |
|
Date of instrument
Creating the charge |
04.05.2007 |
|
Amount secured by
the charge |
Rs. 48.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest BMPLR + 2% +
0.25% Terms of
Repayment 60 Equal Monthly
Installments from July 2007 Margin 17.24% Extent and
Operation of the charge Exclusive Charge
in Favour of Andhra Bank |
|
Short particulars
of the property charged |
Non Agricultural land
Admeasuring 21145.57 sq mtrs as mentioned in attached document. |
AS PER WEBSITE
Board of Directors
Satyakam Basu
Chairman
A Metallurgical engineer with an Post Graduation in Management from Indian
Institute of Management, Kolkata, he has 26+ years experience in the steel
industry, covering production, marketing, international business, purchase, and
the turning around of sick companies.
Bharat A. Parikh
He holds FCA from England & Wales, Bachelor in Economics with Honors
from London and a B.Com. from Calcutta University. He practised as a CA in
London for over 15 years, and is now engaged in the international trading of
steel. He is based in London.
Rajen A. Parikh
Holds a B.Com. with Honors from St Xavier's College, Calcutta. He has
been in the steel business since 1974 and has been traveling extensively for
business to many countries around the world.
Ajay Lal
An alumni of Indian Institute of Technology, Delhi and Indian Institute
of Management, Kolkata, Mr. Lal is an ex-banker who is today one of the
principal promoters and Managing Director of AIF Capital, Hong Kong. In India,
Mr. Lal also sits on the boards of Airtel, Yes Bank and GVK Power.
Key people
Birendra Jee
Executive In Charge (Gandhidham)
A mechanical engineer with a Post Graduate Diploma in
Business Management from XLRI, Jamshedpur, he has over 30 years of experience
in diverse areas of industry.
Siddique Ali
Chief Technologist
With a BE in Mettallurgical Engineering and General
Management Programme from Tata Management Training Centre - Pune, he has 30
years of experience in diverse functions including project, production, quality
assurance in electro tinning continous line,and cold rolling of flat steel
products.
Anand Mishra
Technical
With an M.Tech in Process Metallurgy and a PGDBM Operation
and Marketing Management from XLRI, he has 20 years experience in Quality
Control / Operations in the area of Electrolytic Tinplating, Galvanizing and
CRCA of flat products.
Ashish Sinha
Electrical
A B.E(Electrical & Electronics) from MIT, Manipal, he
has 15 years experience in electrical maintenance in the steel industry. At
TATA Tinplate Ashish was involved in total operational performance and business
excellence, and was instrumental in modernization of the tinning line which was
completed in record 7 days.
Ranajit Sengupta
CFO
With a diverse experience of 10 years with Coca Cola and IFB
Industries, he has a B.Com from St. Xavier's, Kolkata and qualified for the Finals
of CA & ICWA.
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.42.30 |
|
UK Pound |
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.66.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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 |
|