MIRA
INFORM REPORT
|
Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
PARTAP SPINTEX LIMITED (W.E.F 07.04.2006) |
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Formerly Known As : |
PARTAP FURANE PRIVATE LIMITED |
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Registered Office : |
Kantoor 30, Sector – 9, Urban Estate, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
26.04.1989 |
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Com. Reg. No.: |
05-30556 |
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Capital Investment / Paid-up Capital : |
Rs. 88.500 Millions |
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CIN No.: [Company
Identification No.] |
U15140HR1989PLC030556 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKP02844C |
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PAN No.: [Permanent
Account No.] |
AADCP8715D |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturers of Cotton Yarn. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 626028 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can be considered for small to mediocre 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
Kantoor 30, Sector – 9, Urban Estate, |
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Tel. No.: |
91-171-2530323 |
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E-Mail : |
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Website : |
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Garment Division : |
192 K.M. Stone, N.H. - 1, Mohra, Dist. Ambala Cantt – 133001, |
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Tel. No.: |
91-171-2871051 |
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E-Mail : |
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Yarn Division : |
Maur Mandi, Dist. Bathinda – 150509, |
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Tel. No.: |
91-1655-231954 |
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Fax No.: |
91-1655-329666 |
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E-Mail : |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Surinder Paul Bansal |
|
Designation : |
Chairman cum Managing Director |
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Address : |
Village Takhana, P O Padhana, District Karnal, Taraori – 132 116, |
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Date of Birth/Age : |
21.06.1956 |
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Date of Appointment : |
31.01.2005 |
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Name : |
Mr. Satish Kumar Bansal |
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Designation : |
Director |
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Address : |
31, Sector – 9, Urban Estate, |
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Date of Birth/Age : |
17.07.1960 |
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Date of Appointment : |
28.08.2004 |
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Name : |
Mr. Madan Gopal |
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Designation : |
Director |
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Address : |
917, Sector-9, Panchkula – 134109, Haryana, India |
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Date of Birth/Age : |
01.10.1954 |
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Date of Appointment : |
16.03.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
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|
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Satish Kumar (HUF) |
|
13380 |
|
Sudarshan Paul |
|
7910 |
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Satish Kumar Bansal |
|
30340 |
|
Surinder Paul |
|
61300 |
|
Kalawanti |
|
25580 |
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Rashmi Bansal |
|
9950 |
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Sunita Bansal |
|
300 |
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Sangeeta Bansal |
|
20150 |
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Priyam |
|
8300 |
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Vijay Kaushal |
|
500 |
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Subham Bansal |
|
645 |
|
Ajayan Ramanna |
|
325 |
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D. R. Jain |
|
10 |
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Sonia Jain |
|
50 |
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Miss Twini Jain |
|
340 |
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Anju Garg |
|
490 |
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Bant Ram |
|
490 |
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Bharat Bhushan |
|
490 |
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Nisha Garg |
|
980 |
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Amarjeet Singh |
|
490 |
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Ajay Modi |
|
430 |
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Parveen Goyal (Smt.) |
|
5000 |
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Kasturi Devi |
|
1000 |
|
Sat Pal (HUF) |
|
3400 |
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Subhash Chand (HUF) |
|
1000 |
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Seema Goyal |
|
1500 |
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Richa Singla |
|
2140 |
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Pawan Singla & Sons (HUF) |
|
5300 |
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Sharul Bansal |
|
2450 |
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Rishabh |
|
2400 |
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Ram Pal |
|
490 |
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Parveen Goyal (Smt.) |
|
6000 |
|
Rajinder Kumar |
|
3630 |
|
M/s Goodwill Pharmaceuticals, Ambala City |
|
4500 |
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Rameshwar |
|
4000 |
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Narendar Atri |
|
4000 |
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Shashi Kumar |
|
4000 |
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Rohit Jain |
|
3000 |
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Hawa Singh |
|
2000 |
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Jai Pal Yadav |
|
4000 |
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Vijay Pal |
|
5000 |
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Harinder Sharma |
|
4000 |
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Mulakh Ram |
|
5000 |
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Rahul Jain |
|
5000 |
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Rajiv Aggarwal |
|
4000 |
|
Rainder Kumar Goyal |
|
500 |
|
Mahakali Chem Oils Limited |
|
55750 |
|
Asha Sharma |
|
2300 |
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Dharam Pal |
|
3050 |
|
Indu Bala |
|
6400 |
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Kala Wati |
|
7000 |
|
Shiva Proteins Private Limited |
|
6000 |
|
Yash Pal Sharma |
|
4500 |
|
Pardeep Kumar |
|
490 |
|
Rubal Kumar |
|
490 |
|
Sumit Kumar |
|
490 |
|
Neeraj Kumar |
|
490 |
|
Pankaj Kumar |
|
490 |
|
Mukesh Kumar |
|
480 |
|
Rakesh Kumar |
|
480 |
|
Sanjeev Kumar |
|
480 |
|
Pushpa Tayal |
|
350 |
|
S. P. Goyal (HUF) |
|
8355 |
|
Preet Singh |
|
5000 |
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Dushyant |
|
5000 |
|
Ram Partap Oil Extractions Private Limited |
|
9000 |
|
D. R. Gupta |
|
8000 |
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Rahul Investments |
|
12600 |
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Goodwill Pharmaceuticals |
|
5600 |
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Goodwill Marketing |
|
8900 |
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Sarla Sons Impex Private Limited |
|
10000 |
|
Well Man Investments & Merchant Bankers Limited |
|
10000 |
|
Mohit Goyal |
|
2000 |
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Sunita Goyal |
|
1000 |
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Kapil Goyal |
|
1000 |
|
Jai Durga Fiance Co |
|
5000 |
|
Rattan Lal |
|
5000 |
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Bhagwati Proteins Private Limited |
|
5000 |
|
Nu - Chem Private Limited |
|
37750 |
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Mahakali Agro Industries Limited |
|
18000 |
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Subham Bansal |
|
2100 |
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Shiv Om Cotspin Private Limited |
|
164600 |
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Shree Ganesh Traders |
|
4000 |
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Surinder Paul (HUF) |
|
6100 |
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Suresh Kumar |
|
104500 |
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Krishan Kumar Tayal |
|
16000 |
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Hillridge Investment Private Limited |
|
4395 |
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Sarita Goyal |
|
500 |
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Jamna Devi |
|
1100 |
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Ramesh Goyal (HUF) |
|
500 |
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Surinder Kumar |
|
1250 |
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Sumit Goyal |
|
10000 |
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Amit Goyal |
|
10000 |
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Priyam Goyal |
|
10000 |
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Ramesh Kumar Goyal |
|
5000 |
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Rubal Tayal |
|
7250 |
|
Lalit Gupta |
|
500 |
|
Fin Age Leasing & Finance India Limited. |
|
12500 |
|
Shalini Holding Limited |
|
12500 |
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Total |
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885000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
39.00 |
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Directors or relatives of Directors |
23.07 |
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Other top fifty shareholders |
35.07 |
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Others |
2.86 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Cotton Yarn. |
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Products : |
Textiles ·
Knitted
Garments ·
Fabrics ·
Yarn ·
Polyester
/ Cotton blended Yarn Edible Oils · Refined Vegetable Oil ·
Vanaspati Ghee (Oil) Solvent
Oil ·
Edible Oils ·
Fine Quality Toilet Soaps Glucose ·
Energy Drinks ·
Cookies ·
Fruit Juices ·
Bakery products |
GENERAL INFORMATION
|
Suppliers : |
·
Eastern Engineers, Ludhiana ·
Asian Electronics Limited (Garment Division) ·
Shilpa Agencies (Garment Division) ·
Mittal Sons and Company ·
Shaker Iron Store, Mour Mandi ·
Surya Electrogears, Ludhiana ·
Transport Corporation of India ·
Mehar Chand Jagan Nath, Mour Mandi ·
Achhar Chand Ohri, Bathinda ·
Naib Singh, Mour Mandi ·
Voltas Limited, Ludhiana |
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Customers : |
·
Achievers Creation ·
Ambika Knit and Processors Limited ·
C K Garments ·
J K Clothing ·
Krishna Fabrics Limited, New Delhi ·
Sai Hosiery and Knit ·
Scientific Dyeing ·
Trend Setters ·
V and S International Private Limited ·
Ganesh Oil and General Mills ·
Shiv Oil Mills, Jui Kalan, Haryana ·
Narinder Shawl Trading Company, Ludhiana |
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of India, Maur Mandi Branch, District
Bhatinda, Maur Mandi – 151 509, Punjab, India ·
State Bank of Patiala, Commercial Branch, Miller
Ganj, Ludhiana – 141 001, Punjab, India ·
Punjab
National Bank, Nicholson Road, Sadar Bazar, Ambala Cantt |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kant Goyal and Associates Chartered Accountants |
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Address : |
34, Sector – 7, Urban Estate, |
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Associates/Subsidiaries : |
·
Partap Industries Limited N.H. - 1, Beoprar, Teh. Rajpura, Dist. Tel No..: 91-1762-226544 Fax No.: 91-1762-226544 Email: denim@partapgroup.com ·
ShivOm Cotspin Limited Kala Amb, Dist. Sirmour – 173030, Tel No..: 91-1702-223884 Fax No.: 911702-209058 Email: shivom@partapgroup.com |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 100/- each |
Rs. 100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
885000 |
Equity Shares |
Rs. 10/- each |
Rs. 88.500
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
88.500 |
88.500 |
72.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
21.500 |
|
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3] Reserves & Surplus |
68.007 |
51.874 |
32.844 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
156.507 |
140.374 |
126.844 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
479.819 |
388.702 |
342.966 |
|
|
2] Unsecured Loans |
31.830 |
8.262 |
14.508 |
|
|
TOTAL BORROWING |
511.649 |
396.964 |
357.474 |
|
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DEFERRED TAX LIABILITIES |
8.073 |
6.653 |
6.533 |
|
|
|
|
|
|
|
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TOTAL |
676.229 |
543.991 |
490.851 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
403.215 |
385.834 |
366.805 |
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Capital work-in-progress |
3.221 |
1.037 |
0.128 |
|
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INVESTMENT |
4.535 |
0.520 |
0.020 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
210.837
|
88.081 |
111.169 |
|
|
Sundry Debtors |
61.019
|
41.646 |
29.758 |
|
|
Cash & Bank Balances |
10.776
|
5.427 |
4.611 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
55.776
|
77.697 |
55.574 |
|
Total
Current Assets |
338.408
|
212.851 |
201.112 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
50.205
|
45.333 |
61.646 |
|
|
Other Current Liabilities |
18.682
|
10.080 |
13.608 |
|
|
Provisions |
5.235
|
1.345 |
2.226 |
|
Total
Current Liabilities |
74.122
|
56.758 |
77.480 |
|
|
Net Current Assets |
264.286
|
156.093 |
123.632 |
|
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
0.972 |
0.507 |
0.266 |
|
|
|
|
|
|
|
|
TOTAL |
676.229 |
543.991 |
490.851 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
994.686 |
814.841 |
515.331 |
|
|
|
Other Income |
1.286 |
2.303 |
0.494 |
|
|
|
TOTAL (A) |
995.972 |
817.144 |
515.825 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
710.771 |
577.497 |
346.378 |
|
|
|
Labour & Wages |
27.253 |
23.738 |
10.556 |
|
|
|
Manufacturing Expenses |
128.343 |
112.600 |
68.432 |
|
|
|
Management Expenses |
8.289 |
6.630 |
4.417 |
|
|
|
Selling Expenses |
5.848 |
9.378 |
4.490 |
|
|
|
TOTAL (B) |
880.504 |
729.843 |
434.273 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
115.468 |
87.301 |
81.552 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
41.383 |
36.599 |
23.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
74.085 |
50.702 |
57.885 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.048 |
47.351 |
43.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.037 |
3.351 |
14.785 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.484 |
0.051 |
0.202 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
17.553 |
3.300 |
14.583 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
-- |
11.483 |
69.286 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.76
|
0.40 |
2.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.01
|
0.41 |
2.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.70
|
0.55 |
2.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.02 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.74
|
3.23 |
3.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.56
|
3.75 |
2.59 |
LOCAL AGENCY FURTHER INFORMATION
Note
The Registered Office of the Company has been shifted from SCF – 15,
Vikas Bihar,
Operations:
The sales and
Profits increased during the year when compared with that of previous year.
Management is hopeful that during the current year company will be doing well in
its new line of business and achieve more targets set by it.
Form 8
|
Corporate
identity number of the company |
U15140HR1989PLC030556 |
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|
Name of the
company |
PARTAP SPINTEX
LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
30, Sector-9,
Urban Estate, Ambala City – 134003, Haryana, India |
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|
This form is for |
Modification of
charge |
||||||
|
Type of charge |
Immovable
property Any Interest in
immovable property Book debts Movable property Floating charge |
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|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
Bank's Letter No.
BM/2010 - 11/ dated 28 - 03 - 2011 for amount Rs.594.800 millions |
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|
Date of
instrument Creating the charge |
28.03.2011 |
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|
Amount secured by
the charge |
Rs. 594.800
Millions |
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|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest (1) W. C.: 4.50%
above BR (Effective rate 12.10% P.A.) & (2) T. L.: 4.75% above BR
(Effective Rate 12.35% P.A.) Under special campaign for SME Loans w.e.f.
26.10.10. to 31.12.2010. Terms of
Repayment WC: Repayment on
demand. Existing T Ls: As
per repayment program already approved. T L (new):
Repayable in 28 Quarterly Installments of Rs.0.00536 millions commencing from
June 2011. Interest will be recovered as and when due. Margin RM, SIP, FG -
25%, Receivable- Domestic- 40%, Exports - Nil, BG - 10% TL (New) - 62.50% Extent and
Operation of the charge 100% Others Nil |
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|
Particulars of
the property charged |
Primary: W C: 1st
Charge by way of hypothecation on entire current assets of the Company, both
present & future, including stock, spares, receivable, bills. etc. Exiting TLs &
OTL: 1st Charge on pari - passu basis by way of hypothecation on entire fixed
assets of the Company purchased or proposed to be purchased out of Bank
finance. EM of Land
measuring 13 Kanals - 5 Marlas, 5 Kanals - 5 Marlas & 8 Kanals - 18
Marlas situated at Maur Mandi, Distt, Bhatinda and buildings constructed
thereon. EM of Land
measuring 8 Kanal 5 situated at Maur
Mandi, Distt, Bhatinda and buildings constructed thereon. EM of Land
measuring 38 Kanals 2 Marlas situated at Vill. Mohra, G. T. Road, Distt.
Ambala EM of Land
measuring 8 Kanals 18 Marlas situated at G. T. Road, Taraori, Distt. Karnal EM of Factory
Land & Building (adjoining existing premises) measuring 25 Kanal situated
at Kotli Road, Maur Mandi, Distt, Bhatinda. |
||||||
|
Date of
instrument modifying the charge |
19.01.2010 |
||||||
|
Particulars of
the present modification |
Present
modification for facilities: CC (Stock): Rs.132.500 millions+ TL-1: Rs.51.200
millions+ TL-2: Rs.55.500 millions+ TL-3: Rs.20.900 millions+ TL-4: Rs.27.600
millions+ TL-5: Rs.27.900 millions + Vehicle Loan: Rs.00.300 millions + New
TL: Rs.15.000 millions+ SBOP TL -1: Rs.73.300 millions+ SBOP TL -2: Rs.32.600
millions+ Demand Loan:Rs.140.000 millions+ BG: Rs.15.000 millions.
Aggregating to Rs.594.800 millions Total FBWC=
Rs.579.800 millions + Total NFB: Rs.15.000 millions = (F.B.+N.F.B):
Rs.594.800 millions Other Terms and
conditions remain same |
|
Name of the company |
PARTAP SPINTEX LIMITED |
|
Presented By |
Mr. Satish Kumar
Bansal, Director and Manager, Punjab National Bank, Nicholson Road, Sadar
Bazar, Ambala Cantt. |
|
1) Date and description of instrument creating the change |
22.09.2004 :
Agreement of Hypothecation of Book Debts |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.500 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 |
Present and
Future Book – Debts, Outstandings, Decress, Money Receivable, Claims,
Contracts, Bills Engagements, Securities, Investments, Right and other
movable assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest:
12.25% p.a. ot at such other rates as may be prescribed by the Bank from time
to time shall be calculated respectively on daily Balance due to the Bank on
the said account and shall be charged to the account of the Borrowers on
monthly. All interest so charged shall from part of the said principal sum
and carry interest accordingly. Margin : 25% Repayment : On
demand Extent of
Operation : 100% |
|
5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank |
|
6) Date and brief description of instrument modifying the charge |
12-10-2004 :
Letter of creation of Equitable Mortgage by way of Deposit of title Deeds. |
|
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. |
Equitable
Mortgage by way of Deposit of title Deeds of land having sale Deed /
Conveyance Deed bearing No. 437, Bahi No. 1, Zild No. 1, Page No. 219
Registered on 10.07.1992. Other terms and conditions
remain the same. |
|
Corporate
identity number of the company |
U15140HR1989PLC030556 |
|
Name of the
company |
PARTAP SPINTEX LIMITED |
|
Address of the
registered office or of the principal place of business in |
30, Sector – 9, Urban Estate, |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Any
interest in immovable property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others o
Counter
Guarantee by Company for Bank Guarantee |
|
Particular of
charge holder |
State Bank of Maur Mandi Branch, District Bhatinda, Maur Mandi – 151 509, |
|
Nature of
instrument creating charge |
1. Agreement for Loan for Overall Limit
(Form.1) 2. Agreement of Hypothecation of Goods and
Assets (Form C.2) 3. Letter Regarding the Grant of Individual
Limits within the Overall Limit (Form C.5) 4. Sanction Letter. Over all Credit
Facilities and 5. Letter from the Bank : Rs.435.000
millions |
|
Date of
instrument Creating the charge |
19.08.2008 |
|
Amount secured by
the charge |
Rs.435.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of interest Working Capital – SBAR – At SBAR Presently – 13.75% p.a. TL-1 and TL – II and TL – III – 1.25% Below SBAR Presently – 12.50%
p.a. SLC – 1.00% Below SBAR Presently – 14.75% p.a. Open TL – 1.00% Below SBAR Presently – 12.75% p.a. ·
Terms
of repayment Working Capital – On Demand TL – 1, TL – II and TL – III as per Original Schedule Open TL (Rs.32.500 millions) – In 52 monthly installments of
Rs.6150.000 millions and 53rd installment of Rs.0.520 million +
Interest as and when due commencing from 01.04.2010 ·
Margin CC Stock – 25% Receivables (Cover 90 days) – 40% Book Debts – 40% FLC – 25% ·
Extent
and operation of the charge 100% ·
Others Primary : Working Capital : 1st Charge of SBI, Maur Mandi
by way of hypothecation of all existing and future current assets, stocks of
raw materials, stocks in process, finished goods including goods in transit,
stores and spares, book debts etc. Bank Guarantee : Counter Guarantee of the Company. |
|
Particulars of
the property charged |
Term Loans : 1st
Pari Passu charge of SBI, Maur Mandi (With SBOP) on entire fixed assets
purchased / created out of Bank Finance including EM of following Properties
: ·
·
EM of
land situated at Village Mohra, Ambala on NH-1 measuring 33 Kanals and (ii)
EM of land situated at village Mohra, Ambala Land measuring 5 Kanals 2 Marla.
|
|
Particulars of
the present modification |
Gross :
Rs.435.000 millions (CC Hyp.
Rs.110.000 millions) SLC – Rs.10.000
millions (BD Rs.40.000 millions + Bills/EBP Rs.10.000 millions + EPC/PCFC
Rs.5.000 millions – Out of CC (Hyp) and SLC) TL – I Rs.71.900
millions TL – II –
Rs.27.200 millions TL – III –
Rs.66.900 millions TL Rs.100.000
millions (SBop, Commrl. Br. Ludhiana) Car Loan – I –
Rs.1.100 millions Car Loan – II –
Rs.0.400 million OTL Rs.32.500
millions |
Fixed Assets
·
Land (Refinery)
·
Building (Garment)
·
Truck and Tankers
·
Land (Mohra A/Cantt.
·
Furniture and Fixture
·
Vehicle (Car)
·
Plant and Machinery
·
Generator Set
·
Cars
·
Office Equipments
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.