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MIRA
INFORM REPORT
|
Report Date : |
17.02.2011 |
Note:
The correct name of the company is Century NF Castings (Division of
Century Aluminium Manufacturing Company Limited)
IDENTIFICATION DETAILS
|
Name : |
CENTURY ALUMINIUM MANUFACTURING COMPANY LIMITED CENTURY NF CASTINGS (DIVISION OF CENTURY ALUMINIUM MANUFACTURING
COMPANY LIMITED) |
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Registered Office : |
Raja Road, P.O. Sukchar, 24 Parganas (N), Kolkata – 700 115, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
31.10.1974 |
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Com. Reg. No.: |
21-29718 |
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CIN No.: [Company
Identification No.] |
U27106WB1974PLC029718 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALC00309B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of All Types of Aluminum Wires, Iron and Ferro Alloys, Copper
Alloys, Copper Based Alloys and Zinc Alloys. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1259000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported as
usually made as per commitments. 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) |
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|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
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Registered Office : |
Raja Road, P.O. Sukchar, 24 Parganas (N), Kolkata – 700 115, West |
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Tel No.: |
91-33-25533160/ 2291291/ 22261110 |
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Fax No.: |
91-33-25532738 |
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E-Mail : |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Madhab Prasad Jhunjhunwala |
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Designation : |
Director |
|
Address : |
9, |
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Date of Birth/Age : |
10.10.1939 |
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Date of Appointment : |
31.10.1974 |
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DIN No.: |
00169908 |
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Name : |
Mr. Vikram Jhunjhunwala |
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Designation : |
Whole Time Director |
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Address : |
9, |
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Date of Birth/Age : |
05.05.1965 |
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Qualification : |
B.Com |
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Experience : |
22 Years |
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Date of Appointment : |
02.05.1984 |
|
DIN No.: |
00169833 |
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|
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|
Name : |
Mr. Saytendra Mohan Shahi |
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Designation : |
Director |
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Address : |
3-402, Millennium Apartments, Dwarka, Delhi-110077, |
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Date of Birth/Age : |
17.01.1938 |
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Date of Appointment : |
20.09.2006 |
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DIN No.: |
00540320 |
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Name : |
Mr. Banwari Lal Maheshwari |
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Designation : |
Director |
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Address : |
402, |
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Date of Birth/Age : |
30.01.1960 |
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Date of Appointment : |
15.07.2006 |
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DIN No.: |
00102122 |
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Name : |
Mr. Sheo Kumar Poddar |
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Designation : |
Director |
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Address : |
Dam Side, |
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Date of Birth/Age : |
17.11.1940 |
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Date of Appointment : |
14.08.2007 |
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DIN No.: |
00992376 |
KEY EXECUTIVES
|
Name : |
Mr. Rajkamal Saraogi |
|
Designation : |
President and Company Secretary |
|
Address : |
First Floor, N-17A, |
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Date of Birth/Age : |
24.06.1961 |
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Qualification : |
B.Com (Hons.) FICWA FCS |
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Experience : |
30 Years |
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Date of Appointment : |
06.06.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Vintage
Securities Limited, |
|
1236802 |
|
Vintage Capital
Markets Limited, |
|
121900 |
|
Rishik
Jhunjhunwala |
|
398485 |
|
Shivanshu
Jhunjhunwala |
|
360200 |
|
Vikram
Jhunjhunwala |
|
260656 |
|
Kutir Udyog
Kendra ( |
|
298822 |
|
Jeco Exports and
Finance Limited, |
|
316770 |
|
Moulshree
Jhunjhunwala |
|
291652 |
|
Gokul Vanijya
Private Limited, |
|
50000 |
|
Vijay Kumar
Mohatta |
|
482600 |
|
Satyam Mohatta |
|
30000 |
|
Sita Devi
Jhunjhunwala |
|
860181 |
|
Madhab Prasad
Jhunjhunwala |
|
202147 |
|
Paramsukh
Properties Private Limited, |
|
47249 |
|
Vikram
Jhunjhunwala |
|
151680 |
|
Atash Properties
and Finance Private Limited, |
|
24601 |
|
Rashmi Vyapar
Private Limited, |
|
100000 |
|
Vikram
Jhunjhunwala |
|
651233 |
|
Madhab Prasad
Jhunjhunwala |
|
41746 |
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Total |
|
5926724 |
As on 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
37.05 |
|
Directors
or relatives of directors |
|
62.95 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of All Types of Aluminum Wires, Iron and Ferro Alloys,
Copper Alloys, Copper Based Alloys and Zinc Alloys. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2008)
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Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Alloy Products |
|
M.T |
29380 |
19037.057 |
|
Die Cast Products |
|
M.T |
825 |
-- |
|
Zinc Alloy Products |
|
M.T |
-- |
3380.464 |
|
Aluminum Casting |
|
Pcs |
-- |
7269748 |
|
Zinc Castings |
|
Pcs |
-- |
525348 |
GENERAL INFORMATION
|
Bankers : |
·
HDFC Bank Limited, ·
State Bank of ·
Axis Bank Limited ·
ICICI Bank Limited ·
Standard Chartered Bank Limited, ·
Deutsche Bank, AG ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai-400 013, Maharashtra, India ·
Bank of |
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Facilities : |
Note :- i) Loans from
State Bank of India, ICICI Bank Limited ,Axis Bank Limited and Standard Chartered
Bank are secured against hypothecation of stock of raw materials, finished
goods, book debts, and all other current assets and equitable mortgage of the
land at Kharda West Bengal, land measuring 8.38 acres situated at Mankundu, West Bengal, an
office premises at Chennai and two flats at Sukhchar, West Bengal and
hypothecation of movable machinery at Kharda, West Bengal and First charge of
immovable and movable properties at Plot No.1, Sector 25, Faridabad. The loan
is further secured by way of personal guarantee of executive director and a
director. ii) Buyer’s
Credit from State Bank of iii) Buyer’s
Credit from State Bank of iv) Buyer’s
Credit from Bank of Baroda, v) Loan from
HDFC Bank Limited is secured by hypothecation of the vehicles which were
purchased out of the said loan. vi) Loan from
Standard Chartered Bank is secured against mortgage of the associate
concern’s immovable property at vii) Term Loan amounting to Rs.3.808 millions (Previous year Rs.3.121 millions) is payable within one year.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Alps and Company Chartered Accountants |
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Address : |
310, Todi Chamber 2, |
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Associates: |
·
Century Extrusions Limited ·
Paramsukh Properties Private Limited ·
Jeco Exports and Finance Limited ·
Kutir Udyog Kendra ( ·
Vintage Capital Market Limited ·
Multi Metal Udyog ·
Nanda Devi Sales Agency |
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|
|
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Subsidiaries : |
Camco Multi Metal
Limited CIN No.: U27320DL2001PLC110969 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5926724 |
Equity Shares |
Rs. 10/-
each |
Rs.59.267
Millions |
|
|
|
|
|
(Out of above
18,67,324 Equity Shares issued as fully paid up Bonus Shares by way of capitalisation
of General Reserves and Share Premium Account)
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 |
59.267 |
59.267 |
59.267 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
255.483 |
196.892 |
246.479 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
314.750 |
256.159 |
305.746 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
268.486 |
153.739 |
271.125 |
|
|
2] Unsecured Loans |
118.465 |
20.147 |
0.000 |
|
|
TOTAL BORROWING |
386.951 |
173.886 |
271.125 |
|
|
DEFERRED TAX LIABILITIES |
10.587 |
0.000 |
11.535 |
|
|
|
|
|
|
|
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TOTAL |
712.288 |
430.045 |
588.406 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
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|
|
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FIXED ASSETS [Net Block] |
109.011 |
111.358 |
114.002 |
|
|
Capital work-in-progress |
3.301 |
12.565 |
4.246 |
|
|
|
|
|
|
|
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INVESTMENT |
53.423 |
53.423 |
1.487 |
|
|
DEFERREX TAX ASSETS |
0.000 |
12.112 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
166.603
|
64.633
|
151.430
|
|
|
Sundry Debtors |
381.274
|
176.864
|
316.546
|
|
|
Cash & Bank Balances |
22.900
|
29.538
|
31.111
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
194.907
|
113.218
|
135.050
|
|
Total
Current Assets |
765.684
|
384.253
|
634.137
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
218.335
|
143.460
|
162.532 |
|
|
Other Current Liabilities |
0.585
|
0.327
|
0.749
|
|
|
Provisions |
0.272
|
0.000
|
2.366
|
|
Total
Current Liabilities |
219.192
|
143.787
|
165.647
|
|
|
Net Current Assets |
546.492
|
240.466
|
468.490
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.061 |
0.121 |
0.181 |
|
|
|
|
|
|
|
|
TOTAL |
712.288 |
430.045 |
588.406 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2894.885 |
2259.933 |
2616.575 |
|
|
|
Other Income |
9.242 |
13.855 |
14.125 |
|
|
|
Provision for diminution in value of investment written back |
0.000 |
0.034 |
0.000 |
|
|
|
TOTAL (A) |
2904.127 |
2273.822 |
2630.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
2487.559 |
2015.693 |
2303.597 |
|
|
|
Manufacturing,
Selling & Administrative Expenses |
325.157 |
263.406 |
222.268 |
|
|
|
Provision for diminution
in value of Investment |
0.000 |
0.000 |
0.031 |
|
|
|
Share Issue
Expenses written off |
0.060 |
0.060 |
0.060 |
|
|
|
Purchases of
Trading Goods |
0.000 |
0.000 |
0.499 |
|
|
|
Increase/(Decrease) in Stock |
(59.024) |
13.034 |
10.916 |
|
|
|
TOTAL (B) |
2753.752 |
2292.193 |
2537.371 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
150.375 |
(18.371) |
93.329 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
42.394 |
46.528 |
42.384 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
107.981 |
(64.899) |
50.945 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.532 |
7.779 |
7.873 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
99.449 |
(72.678) |
43.072 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
40.814 |
(22.836) |
12.908 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
58.635 |
(49.842) |
30.164 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
194.974 |
244.816 |
215.523 |
|
|
|
|
|
|
|
|
|
|
Less: Adjustment
of Employee Benefits As per AS 15 (Revised) |
0.000 |
0.000 |
0.871 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
253.609 |
194.974 |
244.816 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
-- |
-- |
4.023 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
682.604 |
|
|
|
Purchase (Trading Goods) |
NA |
NA |
0.499 |
|
|
|
Spare Parts |
NA |
NA |
1.752 |
|
|
TOTAL IMPORTS |
NA |
NA |
684.855 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.89 |
(8.41) |
5.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.02
|
(2.19)
|
1.15
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.44
|
(3.23)
|
1.65
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.37
|
(14.66)
|
5.76
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
(0.28)
|
0.14
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.93
|
1.24
|
1.43
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.49
|
2.67
|
3.83
|
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered office of the company has been shifted from 113,
OPERATIONS
Operations of the
Company during 2009-10 were satisfactory and the Company achieved Sales
Turnover of Rs.3146.200 millions and Net Profit of Rs.58.600 millions as
against Sales Turnover of Rs.2569.400 millions and Net Loss of Rs.49.800 millions
during 2008-09.
The Company is actively evaluating options on expanding Business
activities.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27106WB1974PLC029718 |
|
Name of the
company |
CENTURY ALUMINIUM
MANUFACTURING COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
Raja Road, P.O. Sukchar, 24 Parganas (N), Kolkata – 700 115, West E-Mail: asaha@camcoindia.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10204717 |
|
Type of charge |
Immovable property Book Debts Movable Property Floating Charge Others (All other Current and Movable Fixed Assets.) |
|
Particular of
charge holder |
State Bank of E-Mail: sbi.04125@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Hypothecation of Goods and Assets for Increase in the Overall
Limit - (Form - C.2-A). Letter Regarding
the Grant of Individual Limits within the Overall Limit - (Form - C.5). Memorandum of
Deposit for Creation of Charge for Term Loan/Overall Limit - (Form-C.9) (5
Sets). |
|
Date of
instrument Creating the charge |
23/11/2010 |
|
Amount secured by
the charge |
Rs.386.900
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Cash Credit: At
5.00% above Base Rate. Terms of
Repayment: Working Capital
Limit is repayable on demand. Margin: As stipulated by
the Bank for the respective assets from time to time. Raw Materials :
25%, Stock in process
: 25%, Finished Goods :
25% Book
debts/receivables : 30% and Letter of Credit
and Bank Guarantee: 10%. Extent and
Operation of the charge: The charge operates
as first charge basis on the whole of the hypothecated current assets,
movable fixed assets , both present and future and mortgaged properties of
the Company as mentioned to secure the maximum amount under the said charge
fixed at Rs.386.900 millions together with interest, costs and charges
thereon. Others: The Borrower
shall not do or allow anything which may prejudice the security and shall
comply with the terms and conditions of the Agreements. Previous Limit of
Rs.304.800 millions was granted by SBI, Mid Corporate Loan Administration
Unit, Samriddhi Bhavan, Block - E, 1, All other terms
and conditions continue to remain as before in full force and effect. |
|
Short particulars
of the property charged |
Hypothecation of
stocks of raw materials, stocks in process, finished goods, receivables and
all other current assets both present and future. Hypothecation of
movable machineries. All that the Unit
No.301 on the 3rd floor of the Building No.10 type C having built up area of
777 sq.ft be the same a little more or less together with undivided
proportionate share of land and all other common facilities available within
the said premises situated at B.T. Road, Mouza Panihati, Bhowanipore and
Sukchar Ward No.3, Holding No.27F, Panihati, P.S. Khardha, District 24 Pgs(N)
under Title Deed No.I-5130. All that the Unit
No.302 on the 3rd floor of the Building No.19 type BC having built up area of
639 sq.ft be the same a little more or less together with undivided
proportionate share of land and all other common facilities available within
the said premises situated at B.T. Road, Mouza Panihati, Bhowanipore and
Sukchar Ward No.3, Holding No.27F, Panihati, P.S. Khardha, District 24 Pgs(N)
under Title Deed No.I-3282. All that pieces
and parcels of lands being purchased in seventeen separate deeds at present
being treated as a single plot of land proposed for Aluminium Mfg.
Company,ADSR Chandernagar Hooghly under Title Deed
No.I-1846,1851,1848,2273,1852,1849 and 1414. All that an office
space at Mezzanine floor of a multi storied complex named as 'Shroff
Orchards' situated at Door No.78, New Avadi Road, Kipauk, Madras 600010 under
Title Deed No.I-1780. The land is
measuring 9800 sq. yards (420* 210) is located in Sector 25, Faridabad (Haryana)
under Title Deed No.I-0111. All that land
measuring about 2 bighas 5 cottahs and 22 sq.ft. be the same a little more or
less comprised in Dag No.3373 and part of 3375, 3374 and 3372, Khatian No.407
in Mouza Suckchar, P.S. Khardha, District 24 Parganas (N) under Title Deed
No.I-1068. (more
particularly described in the Form - C.10) |
|
Particulars of
the present modification |
By this
modification, the overall limit is enhanced from Rs.304.800 millions to
Rs.386.900 millions as stated under and charge on hypothecated current
assets, movable fixed assets and above mentioned mortgaged properties of the
borrower extended/created to secure the enhanced overall limit together with
interest, costs and charges thereon: CC : Rs.180.000
millions LC : Rs.170.000
millions BG : Rs.10.000
millions SLC : Rs.18.000
millions Forward Cover :
Rs.8.900 millions Overall Limit:
Rs.386.900 millions. |
|
Corporate
identity number of the company |
U27106WB1974PLC029718 |
|
Name of the
company |
CENTURY ALUMINIUM MANUFACTURING COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
Raja Road, P.O. Sukchar, 24 Parganas (N), Kolkata-700115, West |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai-400 013, Maharashtra, India |
|
Nature of description
of the instrument creating or modifying the charge |
Motor Car, Loan
Agreement No. 16409579 (LMV, TATA SUMO GRANDE LX, Registration No. HR-99 EV (
TEMP)1906) Address: Century
NF Castings (A Division of Century Aluminum Mfg. Company Limited), Plot No.
1, Sector- 25, The above asset
is financed by HDFC Bank. |
|
Date of
instrument Creating the charge |
29.03.2010 |
|
Amount secured by
the charge |
Rs.0.500 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 11.00
% p.a. Terms of
Repayment The Loan is
repayable in 36 EMIs of Rs.0.016 million ( 1 Emi is in Advance ) starting
from 7th May, 2010 ending on 7th March, 2013. Margin As may be
stipulated by bank from time to time. Extent and
Operation of the charge Company
hypothecates to and charges in favor of the Bank by way of first and
exclusive charge of the Vehicle/ equipment described in Item No. 15 as
security for the repayment/payment by the company of the loan granted or to
be granted to the company by the Bank together with all fees, interest, costs and expenses
incurred/to be incurred by the Bank and all other monies payable or to become
payable by the company to the Bank. Others The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such terms
as the Bank may decide, including reserving a right to the Bank to retain its
power to proceed against the company on behalf of the purchaser, assignee or
transferee, any or all outstanding dues of the company, to any third party of
the Bank's choice without reference to or without written intimation to the
company. |
|
Short particulars
of the property charged |
Motor Car, Loan
Agreement No. 16409579 (LMV, TATA SUMO GRANDE LX, Registration No. HR-99 EV (
TEMP)1906) Address : Century
NF Castings (A Division of Century Aluminium Mfg. Company Limited.), Plot No.
1, Sector- 25, |
|
Name of the company |
CENTURY ALUMINIUM MANUFACTURING COMPANY LIMITED |
|
Presented By |
Mr. Mohan
Agarwal, Executive Director |
|
1) Date and description of instrument creating the change |
Composite
Agreement of Auto Loan Dated 30.04.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.684 Million |
|
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 |
One Motor Vehicle
Honda City model CVT under hypothecation agreement with HDFC Bank Limited |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Loan of Rs.0.684
Million @ 9.50% p.a. on reducing balance for 36 months with EMI of Rs. 0.021
Million |
|
5) Name and Address and description of the person entitled to the charge. |
HDFC Bank Limited, |
|
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 |
FIXED ASSETS:
·
Land
·
·
Leasehold Right
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Vehicles
·
Furniture and Fixtures
·
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.45.45 |
|
|
1 |
Rs.72.91 |
|
Euro |
1 |
Rs.61.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.