MIRA
INFORM REPORT
|
Report Date : |
13.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
NUZIVEEDU SEEDS PRIVATE LIMITED (w.e.f. 23.09.2010) |
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Formerly Known
As : |
NSL SEEDS PRIVATE LIMITED (w.e.f. 30.06.2008) NSL SEEDS LIMITED |
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Registered
Office : |
905, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
19.03.2008 |
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Com. Reg. No.: |
55-175582 |
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Capital
Investment/ Paid-up Capital: |
Rs. 0.500
Million |
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CIN No.: [Company Identification
No.] |
U74120DL2008PTC175582 |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of Seeds |
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No. of
Employees: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Recently Commenced business |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2008, the company
started its commercial activities recently in the Year April, 2010. business
is active. Payments are reported to be slow. The company can be considered for business dealings on a secured trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Sheetal |
|
Designation : |
Assistant Company Secretary |
LOCATIONS
|
Registered Office : |
905, |
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Tel. No.: |
91-11-23766237/ 38-40 |
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Fax No.: |
91-11-23766241 |
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E-Mail : |
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Website : |
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Branch Office: |
NSPL Icon, 4th Floor, Road-12, Banjara Hills,
Hyderabad-500034, |
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Tel. No.: |
91-40-30514444 |
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Fax No.: |
91-40-23327919 |
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E-Mail : |
DIRECTORS
As on 14.08.2010
|
Name : |
Mr. Prabhakar Rao Mandava |
|
Designation : |
Managing Director |
|
Address : |
H. No. –2-293/82/A, Plot No. 543, Road No. 26, Jubilee Hills,
Hyderabad-500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
19.01.1959 |
|
Date of Appointment : |
19.03.2008 |
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DIN No.: |
00009650 |
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Name : |
Mrs. Ashapriya Mandava |
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Designation : |
Director |
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Address : |
H. No. –2-293/82/A, Plot No. 543, Road No. 26, Jubilee Hills, Hyderabad-500033,
Andhra Pradesh, India |
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Date of Birth/Age : |
19.09.1962 |
|
Date of Appointment : |
19.03.2008 |
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DIN No.: |
01199936 |
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Name : |
Dr. Sateesh Kumar Puligundia |
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Designation : |
Director |
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Address : |
P-3, 8-2-618/N/18 Road No. 11, Lake Vally, Resident Society, Banjara
Hills, Hyderabad-500034, |
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Date of Birth/Age : |
14.06.1958 |
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Date of Appointment : |
19.03.2008 |
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DIN No.: |
00023149 |
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Name : |
Mr. Richard Blaise Saldanha |
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Designation : |
Nominee Director |
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Address : |
24, |
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Date of Birth/Age : |
03.02.1944 |
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Date of Appointment : |
29.03.2011 |
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DIN No.: |
00189029 |
KEY EXECUTIVES
|
Name : |
Ms. Sheetal |
|
Designation : |
Assistant Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 14.08.2010
|
Names of Shareholders |
|
No. of Shares |
|
Prabhakar Rao |
|
3250945 |
|
Ashapriya |
|
771645 |
|
Srinivas Rao |
|
240 |
|
Venkataram Chowdary |
|
27342 |
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|
10 |
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|
10 |
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A.V.V. Siva Prasad |
|
10 |
|
U Madhu Babu |
|
10 |
|
G . Seshu Kumar |
|
10 |
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Total |
|
4050222 |
As on 28.12.2010
|
List of Allottees |
|
No. of Shares Allotted |
|
Mandava Holdings Private Limited, |
|
5700000 |
|
Total |
|
5700000 |
As on 09.02.2011
|
List of Allottees |
|
No. of Shares Allotted |
|
Blackstone GPV Capital Partners Mauritius V-C Limited |
|
10 |
|
Total |
|
10 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Seeds |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Not Divulged |
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Bankers : |
Axis Bank, 6-3-879/B, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mastanaiah and Company Chartered Accountant |
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Address : |
11/1, Arundelpet, Guntur-522002, |
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Group Companies: |
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CAPITAL STRUCTURE
AS on 14.08.2010
Authorised Capital : Rs. 2600.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 2597.502
Millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.500
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
|
0.500 |
0.500 |
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|
2] Share Application Money |
|
5.000 |
0.000 |
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|
3] Reserves & Surplus |
|
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
|
[0.252] |
0.000 |
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NETWORTH |
|
5.248 |
0.500 |
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|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
5.248 |
0.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
4.618 |
0.000 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
|
0.000 |
0.000 |
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Sundry Debtors |
|
0.000 |
0.000 |
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Cash & Bank Balances |
|
0.681 |
0.430 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
0.000 |
0.000 |
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Total
Current Assets |
|
0.681 |
0.430 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
|
0.051 |
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Other Current Liabilities |
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|
Provisions |
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Total
Current Liabilities |
|
0.051 |
0.006 |
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Net Current Assets |
|
0.630 |
0.424 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.076 |
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TOTAL |
|
5.248 |
0.500 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
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SALES |
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Income |
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|
0.000 |
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Other Income |
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|
0.000 |
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TOTAL |
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|
0.000 |
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Less |
EXPENSES |
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Pre-Operative Expenses- written off |
|
|
0.036 |
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Administrative Expenses |
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|
0.176 |
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Preliminary Expenses written off |
|
|
0.040 |
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TOTAL |
|
|
0.252 |
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PROFIT BEFORE
TAX |
|
|
[0.252] |
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|
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Less |
TAX |
|
|
0.000 |
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PROFIT AFTER TAX
|
|
|
[0.252] |
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Basic/ Diluted
Earnings Per Share (Rs.) |
|
|
[5.05] |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
0.00 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
|
0.00 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
[4.76] |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
|
[0.05] |
NA |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.01 |
0.01 |
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Current Ratio (Current Asset/Current Liability) |
|
|
13.35 |
71.67 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
During the year the company has not commenced any commercial operations.
DEMERGER:
The company has since received the requisite approval from the Delhi
High Court (dated 13th May, 2010) in respect of the Scheme of
Arrangement (Demerger Scheme) between Nuziveedu Seeds (Private) Limited and NSL
Seeds (Private) Limited where by the seed undertaking of the Nusziveedu Seeds
(Private) Limited was transferred to the company w.e.f. 01.04.2010 being the
Appointed dated. A Certified copy of the order of the Court was filed on
11.06.2010 with the Registrar of Companies. NCT of Delhi and Haryana as per the
provision of the companies Act, 1956 and rules there under and the scheme was made effective from 11.06.2010.
As per the scheme of Demerger equity shares were issued in the ratio of
1 fully paid up equity Share of Rs. 10/- each of the company for every 5 fully
paid up equity shares of Rs. 10/- each held by the shareholders of Nuziveedu Seeds
Private Limited.
Consequent to this demerger the paid up share capital of the company has
increased from Rs. 0.500 Million to Rs. 40.502 Millions.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74120DL2008PTC175582 |
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|
Name of the
company |
NUZIVEEDU SEEDS PRIVATE LIMITED ( |
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Address of the
registered office or of the principal place of business in |
905, |
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This form is for |
Modification of
charge |
||||||||||||
|
Charge
identification number of the charge to be modified |
10258706 |
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Type of charge |
Immovable Property |
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Particular of
charge holder |
Axis Bank, 6-3-879/B, |
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Nature of
instrument creating charge |
Memorandum of
Entry dated 24.03.2011 |
||||||||||||
|
Date of
instrument Creating the charge |
24.03.2011 |
||||||||||||
|
Amount secured by
the charge |
Rs. 1000.000
Millions |
||||||||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per the
original agreement Dated : 20.11.2010
Terms of
Repayment On Demand Margin As per the
original agreement dated 20.11.2010
Extent and Operation
of the charge The charge
operates as secured for the repayment of Loan availed by the company together
with payment of interest and any other charges, costs and expenses payable to or incurred by the bank. |
||||||||||||
|
Short particulars
of the property charged |
In addition to
the properties charged before the below said property are offered by the
company as additional security. Second charge on
pari passu basis on company’s immovable property admeasuring 3.85 acres in
Sy. No. 1952 and 1952/A situated at Second charge on
pari passu basis on Company’s immovable property admeasuring 6.22 Gts in Ps.
No. 44 situated at |
||||||||||||
|
Particulars of
the present modification |
There is not
change in the limits and other terms and conditions for w.c. facilities.
|
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.44.69 |
|
|
1 |
Rs.70.87 |
|
Euro |
1 |
Rs.67.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
11 |
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.