MIRA
INFORM REPORT
|
Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL PRINT-O-PAC LIMITED |
|
|
|
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Formerly Known As : |
INTERNATIONAL PRINT-O-PAC EQUIPMENT PRIVATE LIMITED |
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|
Registered Office : |
B-206, Okhla Industrial Area, Phase-I, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Year of Establishment: |
11.12.1981 |
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|
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Com. Reg. No.: |
55-012808 |
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Capital Investment
/ Paid-up Capital : |
Rs.99.310 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U22219DL1981PLC012808 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELI03999C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business : |
Manufacturing of Pre-Printing and Printing Materials |
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No. of Employees
: |
353 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4370000 |
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|
|
|
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 a reputed company having
fine track. Directors are reported to
be experienced an The company can be considered normal for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
B-206, Okhla Industrial Area, Phase – I, |
|
Tel. No.: |
91-11-2681 5631/ 7569/ 9176/ 8199/ 9438/ 7569 |
|
Fax No.: |
91-11-2681 9439 |
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E-Mail : |
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|
Website : |
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|
Area : |
30000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
B-204, 205 & 206, Okhla Industrial Area, Phase I, Tel No: 91-11-2681 5631 / 7569 / 9176 / 8199 / 40777000 Fax No: 91-11-2681 9439 / 470777157 E Mail; amila@giasdl01.vsnl.net.in Web Site: http://www.ippindia.com Area: 30000 Sq. ft. Location: Owned Noida
C-4 to C-II, Phase II Extension, Hosiery Complex, Noida –
201305, Tel No: 91-120-2568046 – 2568051 Fax No: 91-120-2568045 Area: 32000 sq. mtrs Location: Owned MUMBAI 306, 'Shiv Smriti', 49A Tel No.: 91 22 24912799 Fax No.: 91 22 64176005 |
DIRECTORS
As on 25.09.2010
|
Name : |
Mr. Ravinder Kumar Singhvi |
|
Designation : |
Chairman |
|
Address : |
E-227, East of Kailash, |
|
Date of Birth/Age : |
26.01.1950 |
|
Date of Appointment : |
11.12.1981 |
|
DIN : |
00374301 |
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|
Name : |
Mrs. Amila Singhvi |
|
Designation : |
Managing Director |
|
Address : |
E-227, East of Kailash, |
|
Date of Birth/Age : |
15.11.1951 |
|
Date of Appointment : |
11.12.1981 |
|
DIN : |
00374384 |
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|
|
|
Name : |
Mr. Charanjit Lal Handa |
|
Designation : |
Director |
|
Address : |
L-1/17, DLF Qutab Enclave, Gurgaon, |
|
Date of Birth/Age : |
03.03.1937 |
|
Date of Appointment : |
01.04.1993 |
|
DIN : |
00928283 |
|
|
|
|
Name : |
Mr. Sohan Raj Mohnot |
|
Designation : |
Director |
|
Address : |
707, |
|
Date of Birth/Age : |
15.03.1929 |
|
Date of Appointment : |
27.03.1990 |
|
DIN : |
00006889 |
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|
|
|
Name : |
Mr. Dinesh Chandra Kothari |
|
Designation : |
Director |
|
Address : |
Rajendra Bhawan, 5th Floor, Deen Dayal Upadhyay Marg, New
Delhi- 110029, India |
|
Date of Birth/Age : |
14.03.1950 |
|
Date of Appointment : |
07.05.1998 |
|
DIN : |
00195609 |
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|
|
|
Name : |
Mr. Rishabh Singhvi |
|
Designation : |
Whole-time Director |
|
Address : |
E - 227, East of Kailash New |
|
Date of Birth/Age : |
30.08.1978 |
|
Date of Appointment : |
16.09.2002 |
|
DIN : |
00374248 |
|
|
|
|
Name : |
Mr. Muneesh Chawla |
|
Designation : |
Director |
|
Address : |
A 702, |
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Date of Birth/Age : |
05.01.1967 |
|
Date of Appointment : |
21.01.2010 |
|
DIN : |
00069360 |
KEY EXECUTIVES
|
Name : |
Mr. Arvind Gupta |
|
Designation : |
Secretary |
|
Address : |
B-169, Part – 1, Mukundpur, |
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Date of Birth/Age : |
30.05.1986 |
|
Date of Appointment : |
27.01.2009 |
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PAN : |
ANUPG0565B |
MAJOR SHAREHOLDERS
As on 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajandra Kurmar Singhvi |
|
3099611 |
|
Amila Singhvi |
|
1269674 |
|
Rishabh Holding Private Limited |
|
4891735 |
|
Rishabh Singhvi |
|
664194 |
|
Sohan. Raj. Mohnot |
|
109 |
|
Rakesh Verdia |
|
109 |
|
Pramila Thakkar |
|
109 |
|
Total |
|
9925541 |
|
|
|
|
|
Ares Investments, |
|
5500 |
As on 21.10.2010
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Ares Investments, |
|
3308514 |
|
|
|
|
Equity Shares Break up as on 25.09.2010
|
Category |
|
Percentage |
|
|
|
|
|
Bodies Corporate |
|
49.28 |
|
Director or relatives of directors |
|
50.72 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pre-Printing and Printing Materials |
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|
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|
Products : |
Commercial and Publication Printing Packaging Stationery Repro |
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Brand Names : |
“IPP” |
GENERAL INFORMATION
|
No. of Employees : |
353 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. R. Batliboi and Company Chartered Accountant |
|
Address : |
Golf View Corporate Tower B, Sector – 42, |
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Tel. No.: |
91-124-4644000 |
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Fax No.: |
91-124-4644050 |
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Enterprises under Common Control : |
E-227, East of Kailash, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19,980,000 |
Equity shares |
Rs.10/- each |
Rs.199.800 Millions |
|
20,000 |
Preference Shares |
Rs.10/- each |
Rs.
0.200 Million |
|
|
Total |
|
Rs.200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9,925,541 |
Equity shares |
Rs.10/- each |
Rs.99.255
Millions |
|
5,500 |
Preference Shares |
Rs.10/- each |
Rs. 0.055 Million |
|
|
Total |
|
Rs.99.310 Millions |
Note:
- Of the above 1225250 equity shares were issued as bonus shares by way
of capitalization the General Reserve.
- The preferences shares are convertible into equity shares. Further,
the redemption of unconvertible position of preferences shares will begin
from 01.01.2012 at 115% of the subscription amount.
As on 21.10.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19,980,000 |
Equity shares |
Rs.10/- each |
Rs.199.800 Millions |
|
20,000 |
Preference Shares |
Rs.10/- each |
Rs.
0.200 Million |
|
|
Total |
|
Rs.200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,234,055 |
Equity shares |
Rs.10/- each |
Rs.132.340
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
99.310 |
99.310 |
99.310 |
136.813 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
995.140 |
920.210 |
867.789 |
800.530 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1094.450 |
1019.520 |
967.099 |
937.343 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
579.016 |
542.764 |
522.976 |
336.101 |
|
|
2] Unsecured Loans |
0.000 |
12.560 |
35.338 |
145.083 |
|
|
TOTAL BORROWING |
579.016 |
555.324 |
558.314 |
481.184 |
|
|
|
|
|
|
|
|
|
DEFERRED PAYMENT LIABILITIES |
145.022 |
154.670 |
120.600 |
29.129 |
|
|
DEFERRED TAX LIABILITIES |
159.169 |
157.022 |
151.545 |
115.463 |
|
|
|
|
|
|
|
|
|
TOTAL |
1977.657 |
1886.536 |
1797.558 |
1563.119 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1034.561 |
1037.037 |
1050.191 |
732.885 |
|
|
Capital work-in-progress |
0.000 |
3.257 |
1.889 |
6.171 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
302.537
|
312.134
|
266.136
|
192.142
|
|
|
Sundry Debtors |
750.949
|
577.099
|
487.627
|
366.214
|
|
|
Cash & Bank Balances |
97.558
|
74.814
|
82.124
|
321.931
|
|
|
Other Current Assets |
13.410
|
10.134
|
6.647
|
3.580
|
|
|
Loans & Advances |
78.063
|
50.552
|
70.633
|
112.761
|
|
Total
Current Assets |
1242.517
|
1024.733 |
913.167 |
996.628
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Current Liabilities |
11.121
|
11.537
|
9.889
|
10.934
|
|
|
Sundry Creditors |
263.305
|
150.377
|
145.464
|
151.004
|
|
|
Provisions |
24.995
|
16.577
|
12.336
|
10.627
|
|
Total
Current Liabilities |
299.421
|
178.491
|
167.689
|
172.565 |
|
|
Net Current Assets |
943.096
|
846.242
|
745.478
|
824.063 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
1977.657 |
1886.536 |
1797.558 |
1563.119 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
2079.806 |
1806.325 |
1501.291 |
1152.950 |
|
|
|
Other Income |
24.026 |
21.549 |
13.682 |
10.531 |
|
|
|
TOTAL (A) |
2103.832 |
1827.874 |
1514.973 |
1163.481 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Raw Material Consumed |
1469.692 |
1252.772 |
943.635 |
703.414 |
|
|
|
Personal Expenses |
81.146 |
70.767 |
65.941 |
45.365 |
|
|
|
Increase/ Decrease in Stock |
9.302 |
(15.266) |
50.645 |
(3.773) |
|
|
|
Operating and Other Expenditure |
278.122 |
271.500 |
217.487 |
192.423 |
|
|
|
TOTAL (B) |
1838.262 |
1579.773 |
1277.708 |
937.429 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)
(C) |
265.570 |
248.101 |
237.265 |
226.052 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
63.299 |
76.627 |
49.560 |
52.957 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
202.271 |
171.474 |
187.705 |
173.095 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
80.874 |
76.373 |
60.564 |
52.990 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
121.397 |
95.101 |
127.141 |
120.105 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
37.208 |
33.391 |
48.699 |
37.551 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
84.189 |
61.710 |
78.442 |
82.554 |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
238.612 |
192.191 |
128.819 |
61.563 |
|
|
|
|
|
|
|
|
|
|
Add |
Excess
Provision reversed as per transitional provision |
0.000 |
0.000 |
0.219 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
Transfer to General Reserve |
6.000 |
6.000 |
6.000 |
5.000 |
|
|
|
Proposed Final Dividend |
5.955 |
5.955 |
5.955 |
8.205 |
|
|
|
Proposed Dividend on Preference Shares |
1.985 |
1.985 |
1.985 |
0.570 |
|
|
|
Tax on Dividend |
1.319 |
1.349 |
1.349 |
1.523 |
|
|
BALANCE CARRIED
TO THE B/S |
307.542 |
238.612 |
192.191 |
128.819 |
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
FOB Value of Export |
73.485 |
145.479 |
110.897 |
113.736 |
|
|
TOTAL EARNINGS |
73.485 |
145.479 |
110.897 |
113.736 |
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
Raw Materials and Packing Material |
9.866 |
13.621 |
32.566 |
17.473 |
|
|
|
Component, Stores & Spares |
3.735 |
14.103 |
9.160 |
8.813 |
|
|
|
Capital Goods |
9.000 |
15.320 |
229.327 |
21.731 |
|
|
TOTAL IMPORTS |
22.601 |
43.044 |
271.053 |
48.017 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.25 |
5.98 |
7.67 |
6.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
4.00
|
3.38
|
5.18
|
7.09 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.84
|
5.26
|
8.47
|
10.42 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.33
|
4.61
|
6.48
|
6.94 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.09
|
0.13
|
0.13 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.80
|
0.72
|
0.75
|
0.70 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.15
|
5.74
|
5.44
|
5.78 |
LOCAL AGENCY FURTHER INFORMATION
Nature of
Operations : the company is a printing, packaging and publishing support services
organization engaged in pre-press, press, post press, digital press, design and
page production activities for various renowned clients. The company has been established
over a period of 27 years.
Contingent
Liabilities :
Contingent liabilities not provided for:
In
respect of the following demands pending disposal of appeals:
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Contingent
liabilities on account of: |
|
|
|
Sales
tax - Sales Tax demand in
respect of non submission of statutory forms, against which the company has
gone in appeal |
19.445 |
14.217 |
|
Entry
tax -
Entry tax demand raised by the department, against which the company has gone
in appeal. |
9.778 |
8.930 |
|
Customs
duty - Outstanding export obligation respect of machinery imported under
EPCG Scheme. |
120.095 |
94.167 |
|
Outstanding
export obligation under Advance License Scheme for procurement of imported
material. |
26.600 |
153.337 |
The
demands are raised by relevant appellate authorities, against which the Company
has gone in appeal. Management is of the view, based on judicial
pronouncements, that the Company's claims are likely to be accepted by various
appellate authorities and therefore these liabilities are not probable and need
not to be provided for.
Performance Review
:
During the year the company recorded an impressive growth. The net sales
of the company have increased from Rs.1806.325 millions to Rs.2079.806
millions; which is 15% higher than the previous year’s turnover.
Awards and Achievements
The company was awarded 'PrlntWeek India Company of the Year' on August 26, 2010 at a ceremony held at The Grand Hyatt, Mumbai
attended by over 600 representatives from leading corporate, advertising
agencies and print specialists. IPP was chosen
The Company conforms to global standards of best quality using State-of-the-art technology. It has become successful both in the domestic and export market.
Future Plans and Expansion :
The company is well positioned for organic as
well as acquisitive growth. In terms of the market expansion, the company is in
the fore front of growing packaging and printing Companies. IPP plans to
increase its market share in packaging with enhanced and augmented capacity.
During the financial year 2009-10 the company has procured new machineries to
tap more orders for which additional term loan of Rs.50.000 millions was
sanctioned and is being availed.
Their strong commitment to quality and focused approach to each customer will bring in strong organic growth. They hope to maintain long term sustainable growth by improving efficiencies and service excellence.
PAPERISTO:
The company also manufactures stationery products, under the brand name
PAPERISTO. The market for notebooks in
The Company has focused on consolidation and growth in profitability by
adding new products, exploring markets, reducing risks and cost and improving
process parameters. The directors are taking continuous efforts towards
widening the scope of operations.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U22219DL1981PLC012808 |
|
Name of the
company |
INTERNATIONAL
PRINT-O-PAC LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-206,Okhla Industrial
Area, Phase-I, |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Canara Bank, Prime Corporate Branch, Ground Floor, Ansal Tower, 38 Nehru Place, New Delhi – 110019, India |
|
Nature of
instrument creating charge |
Term Loan
Agreement And Agreement Regarding Collateral Security And Memorandum Of
Entry. |
|
Date of
instrument Creating the charge |
15.06.2011 |
|
Amount secured by
the charge |
Rs.100.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- interest @ 13.5% or at such other rates as may be specified by the bank
from time to time Terms of
Repayment - repayable in 50 monthly installment of Rs.2.000 millions each
commencing after six month from the date of first disbursement Margin - 33.33% Extent and
Operation of the charge - pari passu with HDFC Bank Limited Others - The
Above Is To Secure Canara Bank Term Loan Of Rs.100.000 millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Pari Passu Charge
On Entire Block Of Fixed Assets Of The Company With HDFC Bank Limited
Including Assets Proposed To Be Created Out Of TL Emt Of Plot
No.4,5,6,7,7A,8,8A,9,10 And 11, Block-C, Phase-II Extension, Noida Together
With All Buildings. |
Form 8:
|
This form is for |
Modification of
Charge |
|
Charge identification (ID) number of the charge to be modified |
10153117 |
|
Corporate
identity number of the company |
U22219DEL1981PLC1012808 |
|
Name of the
company |
INTERNATIONAL
PRINT –O-PAC LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-206 Okhla Industrial Area, Phase-I, |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
The Hong Kong and Shanghai Bankking Corporation Limited,
Birla House, |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement for Plant and Machinery, both present and future |
|
Date of
instrument Creating the charge |
23.04.2009 |
|
Amount secured by
the charge |
Rs.22.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest shall be
payable by the company on the banking facilities as per banks tariff, subject
however that the bank shall have the right to change the rate of interest
after giving notice to the company Terms of
Repayments In consideration
of Term Loan facilities of INR 22 Million sanctioned/to be sanctioned by the
Bank to the Company, the Company has hypothecated and charged to the bank by
way of First Pari Passu Charge as a continuing security, the assets mentioned
in the Hypothecation Agreement to secure the repayments of the advances
together with interest cost and all other charges. Margin: The Company shall
maintain such margin as may be specified by the bank from time to time Extent and
Operation of the Charge: In case the
Company fails to fulfill its obligation under the Hypothecation Agreement,
the Bank shall be entitled to take possession of the hypothecated assets and
sell them by public auction or private contract and utilize the proceeds in
full or part settlement of its claims |
|
Short particulars
of the property charged |
Exclusive over
the company entire movable fixed assets, plant and machinery, machinery
spares, tools and accessories, both present and future |
FROM 8
|
This form is for |
Creation of
Charge |
|
Corporate identity
number of the company |
U22219DEL1981PLC1012808 |
|
Name of the
company |
INTERNATIONAL
PRINT –O-PAC LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-204 Okhla Industrial Area, Phase-I, |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Canara Bank
Corporate Services Branch, Ground Floor, 38, Ansal Towers Nehru Place, New
Delhi;110019, India |
|
Nature of description
of the instrument creating or modifying the charge |
Common
Hypothecation Agreement Dated |
|
Date of
instrument Creating the charge |
|
|
Amount secured by
the charge |
Rs.60.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As Specified by
the Bank From time to time Terms of
Repayments As Per Agreement
Dated Margin: As Per Agreement
Dated Extent and Operation
of the Charge: First exclusive
charge on the Project fixed assets of the company |
|
Short particulars
of the property charged |
First exclusive
charge on the project fixed assets of the Company |
FORM 8
|
Name of the company |
INTERNATIONAL PRINT-O-PAC LIMITED |
|
Presented By |
ING Vysya Bank Limited and INTERNATIONAL
PRINT-O-PAC LIMITED |
|
1) Date and description of instrument creating the change |
General Hypothecation Agreement Letter of Hypothecation to secure time
trust loan against goods Export Credit agreement all dt: 30.08.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.108.000
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 |
Pari Passu first
Charge along with Canara Bank on the entires stocks of the Company raw
materials, paper, due, ink, films etc. stock in process, stores and spares
and finished goods of printed materials from time to tiem Second PAri Passu
charge along with Canara Bank on the entire fixed assets, block of th company
except vechicles financed by banks and machineries financed by LBBW and Baden
Wurttemberg Bank. First Pari Passu charge along with Canara Bank on the
entire book debts receivables of the company from time to tiem. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure the following credit facilities sanctioned to the company. 1) Cash Credit Rs.80.000 Millions (Interest
IVRR-3.00% with monthly rests) Sub Limits; ia) PCL/PCFC/FBP/FBN Rs.50.000
Millionsib) Cheques purchase Rs.20.000 Millions (Interest IVRR-3.50% with
monthly rests) 2) ILC/FLC Rs.28.000 Millions |
|
5) Name and Address and description of the person entitled to the charge. |
ING Vysya Bank
Limited 23, |
|
6) Date and brief description of instrument modifying the charge |
Letter Ceding
Pari Passu Cahrge From Canara Bank Dt: 02.09.2005 |
|
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. |
Canara Bank has confirmed
that the charges created/ to be created by M/S. International Print-O-Pack
Limited in favour of Canara Bank shall rank Pari-passu with the charge
created/to becreated by the company in favour or ING Vysya Bank Limited as
mentioned below vide Letter ceding pari-passu charge from Canara Bank dt:
02.09.2005 attached
Funded
Non Fund Working
Capital Based Limits Rs. in Millions Rs. In Millions Canara Bank 120.000 42.000 ING Vysya Bank
Limited 80.000 28.000 Securities: Pari Passu first
charge on the entire Current Assets of the company from time to time. Pari
Passu 2nd charge on the entire fixed assets of the company except
vehicles financed by banks and machineries financed by LBBW and Baden
Wurttemberg Bank-Other terms and Conditions remain same. |
Fixed Assets:
- Lease Hold –land
- Building
- Plant and machinery
- Furniture fixture and fitting
- Vehicles
- Computer
- Office Equipments
- Electrical Installations
.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
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.45.27 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.