MIRA
INFORM REPORT
|
Report Date : |
31.12.2010 |
IDENTIFICATION DETAILS
|
Name : |
UNIVERSAL INDUSTRIAL EQUIPMENT AND TECHNICAL SERVICES PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
CPL Complex, Near Parni Automobiles, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
26.03.1996 |
|
|
|
|
Com. Reg. No.: |
11-98436 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28999MH1996PTC098436 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPU00213D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU3536C |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Trader of Engineering Goods |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 210000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. However it would be advisable to take adequate securities while
dealing with the subject. |
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Mahesh |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9822472982 |
|
Date : |
31.12.2010 |
LOCATIONS
|
Registered/ Sales Office : |
CPL Complex, Near Parni Automobiles, |
|
Tel. No.: |
91-712-2537056 |
|
Mobile No.: |
91-9822472982 (Mr. Mahesh ) |
|
Fax No.: |
91-712-2537056 |
|
E-Mail : |
|
|
Area : |
800 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Corporate/ Head Office : |
C – 72, MIDC, Hingna, |
|
Tel. No.: |
91-7104-234667/ 237995 |
|
Fax No.: |
91-7104-235494 |
|
E-Mail : |
|
|
Area : |
6000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Offices : |
Locate at: · Bilaspur, Chhattisgarh ·
·
Chandrapur, · Chhindwara, Madhya Pradesh ·
Gondia, ·
·
·
Yavatmal, |
DIRECTORS
(AS ON 30.09.2009)
|
Name : |
Mr. Narendra Sabnani |
|
Designation : |
Managing Director |
|
Address : |
520, Sunder Jeevan Apartments, |
|
Date of Birth/Age : |
27.12.1952 |
|
Qualification : |
B-Tech, Mechanical (Hons.) and Diploma in Business Management |
|
Experience : |
Training:
Underwent works manager training of Ashok Leyland, Chennai and Professional
Experience: · Worked for 7 years in Mineral Exploration Corporation of India Limited in 1974-1981, got full exposure to Repairs and Maintenance of Commercial vehicles. · Worked for 6 years in BILT from 1981-1987 as the HOD of the Transport Department. BILT has a fleet of more than 200 vehicles including more than 100 trucks and controlling total manpower of more than 500 numbers as HOD. Business
Experience: · Started business in Aug. 1987 with the dealership of Atlas Copco which is still continuing. · Took dealership of Ashok Leyland industrial engines for sales services spares, successfully overhauled over 250 engine models between 1992-1997. · Surrendered the dealership in 1 997 after taking dealership of Telcon Construction Equipment Company Limited · Successfully continuing dealership of Atlas Copco India Limited. For Vidarbha Region and Telcon Construction Equipment company Limited (TATA Hitachi Excavators and Backhoe Loaders) for Vidarbha and Chhattisgarh regions. · In 2003 Started Company called KBS Paramount Engineers Private Limited(KBS) and still continuing this Company. KBS undertakes Design, Manufacture and Erectioning and Commissioning of heavy equipment for Steel and Zinc industries. ·
Took dealership of Mercedes Benz ( |
|
Date of Appointment : |
01.08.1996 |
|
|
|
|
Name : |
Mr. Ashwin Sabnani |
|
Designation : |
Director |
|
Address : |
520, Sunder Jeevan Apartments, |
|
Date of Birth/Age : |
03.12.1984 |
|
Qualification : |
B.E. (Industrial) from SRKNEC ( |
|
Experience : |
· Joined his father’s business of dealership of Telcon Construction Equipment Company Limited for sale of TATA JD backhoe loaders and Excavators and their spares and carrying out warranty breakdown cervices to the machines in the state of Chhattisgarh from the month of August 2006 with headquarters at Raipur (C.G) ·
He is independently managing the dealership
with a team of more than 100 personnel including around 55 sales and service
engineers. He is responsible for meeting the sales target and profitability
of Chhattisgarh operations as a separate profit centre. At present we have
offices in · He is director in Universal Industrial Equipment and Tech. Services Private Limited · He is a director in M/s KBS Paramount Engineers Private Limited |
|
Date of Appointment : |
15.04.2008 |
|
|
|
|
Name : |
Mrs. Anita N. Sabnani |
|
Designation : |
Director |
|
Address : |
520, Sunder Jeevan Apartments, |
|
Date of Birth/Age : |
11.10.1960 |
|
Qualification : |
B. Com |
|
Experience : |
26.03.1996 |
|
Date of Appointment : |
|
|
Profile: |
Wife of Mr. Narendra Sabnani, B. Com graduate from |
|
|
|
|
Name : |
Mr. Deepak S. Sabnani |
|
Designation : |
Director |
|
Address : |
520, Sunder Jeevan Apartments, |
|
Date of Birth/Age : |
07.06.1962 |
|
Qualification : |
B. Com |
|
Experience : |
20 years |
|
Date of Appointment : |
26.03.1996 |
|
Profile: |
Mr. Deepak Sabnani is associated with business since 1987. Since he
does not keep good health he occasionally attends office but not actively
involved in the business. |
KEY EXECUTIVES
|
Name : |
Mr. Manish Dawara |
|
Designation : |
Chartered Accountant |
|
Address : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Narendra Sabnani |
|
3215 |
|
Anita Sabnani |
|
3262 |
|
Vishal Sabnani |
|
100 |
|
Pushparaj Sabnani |
|
1000 |
|
Subhash Sabnani |
|
1000 |
|
Deepak Sabnani |
|
14585 |
|
Ashwin Sabnani |
|
21776 |
|
Bhisham Sabnani |
|
1000 |
|
Prabha Sabnani |
|
1600 |
|
|
|
|
|
Total |
|
47538 |
(AS ON 30.09.2009)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
99.98 |
|
Other top fifty shareholders |
|
0.02 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Engineering Goods |
|
|
|
|
Agencies Held: |
·
Telco ·
Atlas Copco |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Atlas Copco ( · Atlas Copco India Limited, CMT-1 20006 ·
Ashishek Sales Corporation ( · Aditya Hydraulics · Bhakham Industries · Chanchal Singh Bros · Deepshikha Enterprises (P) · DCS Trading and Services Private Limited · Duekan India Limited · HI-Tech Marketing Services · Kiran Industries · Kunal Automobiles · Linkson International Limited · Madhu Automobiles · Sunil Scooters · Savita Oil Technologies Limited · Telco Construction Equipment Company Limited · Wipro Fluid Power |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Corporate · A. S. Iyer and Company, Bhandara · Aditi Engineering Corporation · ACC Machinery Company Limited, Butibori · Avtar and Company Kheri, Kamptee · Awtar Transport Company, Parasia · Baba Nanak Sars Infrastructure Private Limited · B. P. Ergo Limited · B. S. Metal Private Limited · BGR Energy System Limited · Chaitnya Construction · Chadda Construction · Deepak Construction · Department of Atomic Energy · Facor steel Limited ·
GMMCO Limited, · GAMMON India Limited · Harish Motors ·
Indo Rama Synthetics ( · Indus Paper Boards Private Limited · J K Contractor · Kanchan Construction |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
150 (Office-20, Factory-100, Branches-30) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Union Bank of Dhantoli Branch, Shriman Commercial Complex, Dhantoli, ·
Dena Bank Itwari Branch, 1157, ·
State Bank of Chhaoni Branch, Nagpur-440025, ·
Standard
Chartered Bank, 90, M ·
Centurian Bank of Shree Mohini Complex, S.V. Patel Marg, ·
Centurian Bank ·
Indusind Bank ·
HDFC Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· Tata Finance · Tata Capital Limited · Magma Finance corporation Limited · SREI Finance · Magma Finance Limited · Bajaj Auto Finance |
|
|
|
|
Auditors : |
|
|
Name : |
Kapil Hirani and Company Chartered Accountant |
|
Address : |
NBC Premises, 8, |
|
Tel No.: |
91-712-6611050 |
|
Fax No.: |
91-712-2451914 |
|
Email : |
|
|
|
|
|
Associates/Subsidiaries : |
· KBS Paramount Engineers Private Limited Address : G – 4, MIDC,
Hinga, PAN No.: AACCK2695Q Activity: Design,
Drawing, engineering, Detailed Engineering, Fabrication, Manufacture, On-site
Erection, commissioning and Testing of Equipments for Steel Plants. They
specialize in Pig Casting Machines. Projects are taken and completed on
turnkey basis. Dealership of Mercedes Benz India Limited for ACTROSS Tippers since
May 2009. The dealership has completed around 1.5 Years as on date. LOI
issued by MBIL has been converted to DICV and as on date they have Dealership
of ACTROSS vehicles from DICV in this group company. |
CAPITAL STRUCTURE
(AS ON 31.03.2009)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47538 |
Equity Shares |
Rs.100/-
each |
Rs.4.754
Millions |
|
|
|
|
|
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 |
4.754 |
3.384 |
3.384 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
46.834 |
15.818 |
11.231 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
51.588 |
19.202 |
14.615 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
357.608 |
84.726 |
160.422 |
|
|
2] Unsecured Loans |
0.570 |
2.921 |
1.120 |
|
|
TOTAL BORROWING |
358.178 |
87.647 |
161.542 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
Deposits |
9.902 |
11.261 |
6.617 |
|
|
|
|
|
|
|
|
TOTAL |
419.668 |
118.110 |
182.774 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
32.513 |
22.065 |
20.152 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.470 |
1.470 |
1.500 |
|
|
DEFERREX TAX ASSETS |
0.294 |
0.258 |
0.019 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
261.325
|
82.105 |
93.734
|
|
|
Sundry Debtors |
252.106
|
99.583 |
135.128
|
|
|
Cash & Bank Balances |
19.494
|
14.056 |
13.494
|
|
|
Other Current Assets |
26.085
|
21.998 |
10.227
|
|
|
Loans & Advances |
64.314
|
50.119 |
20.536
|
|
Total
Current Assets |
623.324
|
267.861 |
273.119 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
214.297
|
161.867
|
98.568
|
|
|
Other Current Liabilities |
18.266
|
8.634 |
9.380
|
|
|
Provisions |
5.370
|
3.043 |
4.068
|
|
Total
Current Liabilities |
237.933
|
173.544 |
112.016
|
|
|
Net Current Assets |
385.391
|
94.317 |
161.103
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
419.668 |
118.110 |
182.774 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
733.373 |
684.595 |
704.350 |
|
|
|
Other Income |
48.393 |
27.563 |
|
|
|
|
TOTAL (A) |
781.766 |
712.158 |
704.350 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
708.725 |
642.716 |
|
|
|
|
Administrative Expenses |
19.351 |
20.457 |
|
|
|
|
Operating Expenses |
2.296 |
0.433 |
|
|
|
|
Selling Expenses |
0.508 |
0.237 |
NA |
|
|
|
Benefit to Employees |
12.851 |
12.621 |
|
|
|
|
Directors Remunerations |
1.560 |
1.050 |
|
|
|
|
Auditors Remunerations |
0.070 |
0.034 |
|
|
|
|
TOTAL (B) |
745.361 |
677.548 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.405 |
34.610 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.821 |
23.809 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.584 |
10.801 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.626 |
4.087 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.958 |
6.714 |
6.266 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.702 |
2.120 |
2.601 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.256 |
4.594 |
3.665 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
110.56 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.67
|
0.65 |
0.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.09
|
0.98 |
0.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.21
|
2.32 |
2.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.35 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.56
|
13.60 |
18.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.62
|
1.54 |
2.44 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
213.059 |
160.852 |
96.045 |
|
Sundry Creditors for expenses |
1.238 |
1.015 |
2.523 |
OPERATION
In this connection
the Directors are point out that the sales of the company has increased from
the previous year. The total sales were Rs.733.373 millions during the year as
against Rs. 684.595 millions from previous year. The operations for the year
resulted in net profit of Rs.11.586 millions as against net profit of Rs.10.799
millions in the previous year. The directors are very optimistic about
enhancing the sales as well as profit in the coming year.
BACKGROUND
Subject was formed in 1987 as a partnership
firm named as company with a dealership of Atlas Copco and D and H Secheron
Electrotes by Sabnani Family of
MANAGEMENT STRUCTURE
The operations of the company are managed by
Mr. Narendra Sabnani and his Son Mr. Ashwin Sabnani through a strong team of
professionals. All policy matters are in the domain of Mr. Narendra Sabnai and
his son.
DEALERSHIPS:
(1) Telco Construction Equipment Company Limited (TELCON)
They are the Sole Authorized Dealers of Telcon
for their TATA-HITACHI Excavators, Loaders, Back Hoe Loaders and all
Construction Equipment. They stock and sell these machines and their spares.
They also undertake full warranty service of new machines and render breakdown
service at various sites in-
(a) Entire Vidharbha Region (11 Districts of
(b)
(c) Neighboring Districts of Balaghat and
Chhindwara of M.P.
They have more than 125 well-qualified and
experienced Engineers and 100 plus office staff to carry out these business
activities.
(2) Atlas Copco (
They are the Authorized Dealers (Sales Service
and Spares) of Atlas Copco (India) Limited for their following Divisions for
entire Vidarbha Region and neighboring Districts of Balaghat and Chhindwara of
M.P. We stock and sale new machines and their spares and undertake breakdown
service:
(a) Construction and Mining Equipment like
Portable Diesel Driven Compressors, Pneumatic Drills, Hydraulic Drills, Road
Construction Equipment required by customers involved in Mining, Rock Cutting
and Drilling Blasting industry.
(b) Electrical Screw Compressors: Catering
mainly to Paper, textile, cement, steel, road construction, irrigation and
other allied processing industries.
They have around 15 well-qualified engineers
and technicians and 10 staff members to carry out Atlas Copco business
activities which involve Sales of Equipment, Warranty Services, Spare Parts
Sale, Break Down Repairs and AMC’s.
THEY CATER TO FOLLOWING MAJOR GOVERNMENT AND PUBLIC SECTOR UNDERTAKINGS:
·
WCL Headquarters at
·
MOIL having Headquarters at
· South Eastern Coal Fields Limited
· Bhilai Steel Plant.
· Various cement plants (I) ACC at Chandrapur and Jamul (ii) Maratha Cement (Ambuja) (iii) L and T Cements (iv) Manikgarh Cement etc.
· Major industries such as Indorama Synthetics, BILT, Sun flag Industries, Spat Industries Limited, KEC International Limited.
· Major contractors like Sancheti, Anoj kumar Agrawal, Bhasin and Company, Awtar Transport Company, Ajay Mrig group, KJ Thapar, ANE India Private Limited, STC Constructions etc.
PROJECTS COMPLETED IN THE LAST 5 YEARS:
Designed Manufactured and successfully
commissioned
· 2004:Hindustan Zinc Limited -Vizag: 6TPD Zinc Dust Plant (A.P.): Value 7.500 Millions
· 2005:Central Fuel Research Institute- Dhanbad: Fuel Evaluation Test Rig (Orissa): Value 27.500 Millions
· 2006:Hinadustan Zinc Limited -Chandariya: Zinc Drauss Treatment Plant: Value 15.000 Millions
· 2007:Sunflag Iron and Steel Industries Limited —Bhandara: Pig Casting Machine(MH): Value 30.000 Millions
· 2008:Zindal Steel and Power Limited, Raigarh: Pig Casting Machine(CG): Value 45.000 Millions
·
2009:JSW Steel Limited -
Subsequent to taking Mercedes Benz dealership
in March 2009 we stopped the project activities in KBS and have been
concentrating on MB vehicle spares and services.
GROUP ACHIEVEMENT:
They have been Regularly Receiving awards from
M/s TELCON. These include:
> Trophy for highest sale of Parts.
> Trophy for highest sale of Model EX 11 0
Excavator.
> Most Aggressive Dealer for
EXPANSION PLANS:
They have set a target o Rs.1500.000 Millions
turnover in current financial year and hope to take it to Rs.2000.000 Millions
by 2012 and Rs.4000.000 Millions by 2015 and Rs.5000.000 Millions by 2018. The
dealership of DICV is very much on their radar as they already had dealership
of Mercedes Benz and signed LOI with DICV for mining tippers. They are always
looking for prestigious dealerships of top notch companies in the related
sphere of activities and presently pursuing few to ensure the projected growth
as above.
TRADE REFERENCES:
·
Hanis Ahmed and Company
Bankers Charges
Report as per Registry
|
Name of the
company |
UNIVERSAL INDUSTRIAL EQUIPMENT AND TECHNICAL SERVICES PRIVATE LIMITED |
|
Presented By |
Standard
Chartered Bank, 90, M |
|
1) Date and
description of instrument creating the change |
Agreement of
Hypothecation of Equipments dated 02.01.2006 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.43.400
Millions Flexi Loan |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Hypothecation by way
of First Charge to the Bank on: All the
equipments both present and future consisting of Tata John Deere Model 315V
Hydraulic Backhoe Loader, being movable properties now or at any time
hereafter belonging to the Borrower or at the Borrower’s disposal and now or
at any time and from time to time hereafter stored or to be stored or brought
into or upon or in course of transit to the Borrower’s factory or premises or
at any other place whatsoever and whosesoever in the Borrower’s possession or
occupation or at any other premises or place It is further
agreed by the Borrower that when the above credit facility/ ies is sanctioned
/ granted continued to he Borrower by the bank in consortium or multiple
banking arrangement with other banks then this first charg by way of
hypothecation over the said Goods created/ to be created by the borrower in
favour of the bank will be treated as also confirming/ conferring/ ceding
similar pari passu charge over the said good created / to be created in their
respective favor by the borrower, the bank and the above Agreement will read
and constructed to mention the first pari passu charge by way of
hypothecation. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest/
Commission/ Margins: AS negotiated form time to time. The rate of interest is
subject to change without prior notice at the discreation of the bank |
|
5) Name and
Address and description of the person entitled to the charge. |
Standard
Chartered Bank, 90, M |
|
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 |
|
Corporate
identity number of the company |
U28999MH1996PTC098436 |
|
Name of the
company |
UNIVERSAL INDUSTRIAL EQUIPMENT AND TECHNICAL SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
CPL Complex, |
|
This form is for |
Modification of charge
|
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Union Bank of Dhantoli Branch,
Shriman Commercial Complex, Dhantoli, E-Mail: avmcompanysecretaries@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Equitable Mortgage |
|
Date of
instrument Creating the charge |
25.06.2010 |
|
Amount secured by
the charge |
Rs.80.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of
Interests: At the rate of
2.50 % over Union Bank of India Prime Lending Rate subject to a minimum 14.25
% p. a with monthly rests. Terms of
Repayment: Repayment on
demand or subject to the renewal or review. Margin: Margin N.A. Extent and
Operation of the charge: To secure due repayment
the existing Cash Credit Limit of Rs.80.000 Millions further secured by the
immovable properties. Others: Others Terms and
conditions as per sanction letter and all other loaning documents executed
between borrower and banks. |
|
Short particulars
of the property charged |
1) All that piece
and parcel of land bearing Plot No C-72, adm 1000.00 sq. mtrs. in Nagpur
Industrial area within the village limits of Sonegaon (Seem), in the Rural
area Tal and Dist Nagpur., together
with factory shed RCC consisting of Build up area 168.328 sq. mtrs. thereon
as per building completion cert issued by Exe Engineer MIDC division No 1 2) All that land
bearing (a) Kh no. 567/2 adm -0.040 Hectors, (b) Kh no. 571/5 adm -0.020
Hectors, (c) Land Kh No. 613/75, 613/76 adm -0.251 Hectors, (d) Land Kh No.
613/86 adm -0.142 Hectors, (e)
Land Kh no. 613/98 adm -0.073 Hectors, (f) Kh No. 613/99 adm -0.165 Hectors,
(g) Kh No. 613/176, 613/177 adm -0.048 Hectors, total Kh. Nos. 07, Total area
of 0.739 Hectors, situated at Sondongri, Ramkirshna Paramhans Ward, Ward No
02, Ring Road No 02, P. H. No 23/07, R.I.C. Rauipur-1, Tal and District 3) All that piece
and parcel of land bearing Plot No C-78, adm 1007.00 sq. mtrs in |
|
Particulars of the present modification |
By way of present
modification, the existing Cash Credit Limit of Rs.80.000 Millions further
secured by the immovable properties |
FIXED ASSETS:
·
Vehicles
·
Maruti Zen
·
Scooters
·
Motor Cycle
·
Air Conditioner
·
Fax Machine
·
Computer and Software
·
Electrical Fittings
·
Building
·
Land
·
Machinery Tools
·
Plant and Machinery
·
Tractor and Trolly
·
Xerox Machine
·
Generator
·
Television
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.44.90 |
|
|
1 |
Rs.69.69 |
|
Euro |
1 |
Rs.59.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.