MIRA
INFORM REPORT
|
Report Date : |
19.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
BGH EXIM LIMITED (w.e.f. 18.03.2002) |
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Formerly Known As : |
BIRLA CONVERGENCE HOLDINGS LIMITED |
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Registered Office : |
213, 2nd Floor, T. V. Industrial Estate, 52 S. K. Ahire
Marg, Worli, Mumbai – 400030, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
27.06.2000 |
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Com. Reg. No.: |
11-127428 |
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Capital
Investment/ Paid-up Capital: |
Rs.549.983 millions |
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CIN No.: [Company
Identification No.] |
U17110MH2000PLC127428 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTB00742A/ MUMB09419E |
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PAN No.: [Permanent Account No.] |
AABCB6755B |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Trader, Exporter and Importer of Petro Products, Coal. and Agro
Commodities. |
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No. of
Employees: |
Approximately 25 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 24000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Deepak |
|
Designation : |
Deputy Manager |
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Contact No.: |
91-9924440904 |
|
Date : |
16.07.2011 |
LOCATIONS
|
Registered Office : |
213, 2nd Floor, T. V. Industrial Estate, 52 S. K. Ahire
Marg, Worli, Mumbai – 400030, |
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Tel. No.: |
91-22-24952543/ 24952544 |
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Mobile No.: |
91-9924440904 (Mr. Deepak) |
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Fax No.: |
91-22-24955249 |
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Email : |
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Website : |
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Branch Office 1 : |
71-A, Mittal Chamber, 7th Floor, Nariman Point,
Mumbai-400021, |
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Tel. No.: |
91-22-22846030 |
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E-Mail : |
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Website : |
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Head / Branch Office 2 : |
DBZ S 140, Ward 12A, Opposite Bank of |
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Tel. No.: |
91-2836-231252/ 3/ 231179 |
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Fax No.: |
91-2836-231218 |
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E-Mail : |
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Website : |
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Branch Office 3: |
701, Bhikaji Cama Bhavan, |
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Tel No.: |
91-11-51659041/44 |
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Fax No.: |
91-11-51659045 |
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E mail: |
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Branch Office 4: |
16th Floor, Industry House, |
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Tel No.: |
91-33-22829286/ 22825122 |
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Fax No.: |
91-33-22825212 |
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E mail: |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Gopi Krishna L Tulsian |
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Designation : |
Director |
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Address : |
32, |
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Date of Birth/Age : |
02.02.1937 |
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Date of Appointment : |
27.06.2000 |
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
Chitrakoot Housing Society, Flat No.22, |
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Date of Birth/Age : |
01.03.1955 |
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Date of Appointment : |
30.06.2008 |
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Name : |
Mr. Sushil G Agarwal |
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Designation : |
Director |
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Address : |
301, Ocean View, |
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Date of Birth/Age : |
13.06.1963 |
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Date of Appointment : |
27.06.2000 |
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Name : |
Mr. Kapil Agarwal |
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Designation : |
Director |
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Address : |
Challenger Apartment, Flat No.1004, Tower No. III, |
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Date of Birth/Age : |
01.10.1971 |
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Date of Appointment : |
30.03.2002 |
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Date of Ceasing : |
27.12.2004 |
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Name : |
Mr. Sanjay Bhatia |
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Designation : |
Manager |
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Address : |
604, Harmony Yashodham Enclave, |
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Date of Birth/Age : |
15.05.1967 |
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Date of Appointment : |
08.11.2003 |
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|
Name : |
Mr. Jagdish S Bajaj |
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Designation : |
Director |
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Address : |
13-2A, Asha Nagar, Borivali (East), Mumbai, |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Bhartia |
|
Designation : |
Manager |
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Address : |
604, Harmony, Yashodham Enclave, |
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Date of Birth/Age : |
15.05.1967 |
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Qualification : |
30.06.2008 |
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Name : |
Mr. Sushil Kumar Saboo |
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Designation : |
Manager |
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Address : |
44, Satnam Apartments, 93, Cuffe Parade, Mumbai-400005, |
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Date of Birth/Age : |
05.11.1942 |
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Date of Appointment : |
01.07.2008 |
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|
Name : |
Mr. Deepak |
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Designation : |
Deputy Manager |
MAJOR SHAREHOLDERS
As on 30.09.2010
|
Names of Shareholders |
No. of Equity Shares |
|
|
|
|
Dwarka Das Rathi |
100 |
|
Sushil Agarwal |
100 |
|
Jagdish Bajaj |
100 |
|
Sanjeev Bafna |
100 |
|
Kapil Agarwal |
100 |
|
Bharat Banka |
100 |
|
Gopi Krishna Tulsian |
100 |
|
Rajratna Holdings Private Limited, |
50000 |
|
Birla Group Holdings Private Limited,
|
9949300 |
|
Trapti Trading and Investments Private Limited, |
2500000 |
|
Turquoise Investments and Finance Private Limited , |
2500000 |
|
P T Indo |
14998304 |
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|
|
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Total |
29998304 |
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|
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|
Names of Shareholders |
No. of Preference
Shares |
|
|
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|
IGH Holdings Private Limited, |
2500000 |
|
Total |
2500000 |
Equity Share Breakup (Percentage of Total Equity)
(As on 30.09.2010)
|
Category |
|
Percentage |
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|
|
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
|
49.99 |
|
Bodies Corporate |
|
50.00 |
|
Directors or relatives of Directors |
|
0.01 |
|
|
|
|
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Petro Products, Coal. and Agro
Commodities. |
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|
|
|
Products : |
PETROLEUM PRODUCTS ·
HSD
(High Speed Diesel) ·
Naphtha
·
Fuel
Oil ·
Base
Oil SN 500 ·
RPO
(Rubber Processing Oil) ·
Methanol
·
LAB
(Linear Alkyl Benzene) AGRICULTURE PRODUCTS ·
Wheat ·
Rice ·
Soya
Bean Meal ·
Rape
Seed Meal ·
Ground
Nut Meal ·
Scrap · Castor Oil · Coal ·
Steel · Rock Phosphate · ·
Fluorspar ·
Petroleum Coke ·
Metallurgical Coke ·
Ammonium Nitrate ·
Salt ·
Pulses METALS
FERTILIZERS
MINERALS
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Exports : |
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Products : |
Agriculture Products |
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Countries : |
· · |
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Imports : |
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Products : |
Petroleum Products |
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Countries : |
· · · |
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Terms : |
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Selling : |
Cash and Credit |
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Purchases : |
Cash and Credit |
PRODUCTION STATUS AS ON (31.03.2010)
|
Particulars |
Unit |
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|
Actual
Production |
|
Tea |
Tonne |
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|
579524 |
GENERAL INFORMATION
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Customers : |
· Wholesalers · Retailers |
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No. of Employees : |
Approximately 25 |
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Bankers : |
·
Bank of ·
HDFC Bank Limited, HDFC Bank House Senapati
Bapat Marg, Lower Parel West, Mumbai – 400013, ·
HDFC Bank Limited, |
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Facilities: |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
Khimji Kunverji and Company Chartered Accountants |
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Address : |
Suite 52, Bombay Mutual Building, Sir Phirozshah Mehta Road, Fort, Mumbai-400001,
Maharashtra, India |
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Tel. No.: |
91-22-22662550/22661270/22662011 |
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Fax No.: |
91-22-22664045 |
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Email: |
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Web site: |
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Enterprises in
which Mr. Sushil Agarwal is the common key Management personnel: |
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Investing partly in
respect of which the company is an associate: |
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Associates : |
·
Kornerinvest Capital Private Limited ·
Aditya Birla Securities Private Limited |
CAPITAL STRUCTURE
(As on 31.03.2010)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 millions |
|
2500000 |
Preference Shares (6% optionally convertible non cumulative redeemable preference shares
of Rs. 100/-each) |
Rs.100/- each |
Rs.250.000 millions |
|
|
Total |
|
Rs.550.000
millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29998304 |
Equity Shares |
Rs.10/- each |
Rs.299.983
millions |
|
2500000 |
Preference Shares (6% optionally convertible non cumulative redeemable preference shares
of Rs. 100/-each) |
Rs.100/-
each |
Rs.250.000 millions |
|
|
Total |
|
Rs.549.983 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 |
549.983 |
549.983 |
549.983 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5362.315 |
5276.375 |
5277.163 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5912.298 |
5826.358 |
5827.146 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
120.764 |
38.825 |
91.067 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
120.764 |
38.825 |
91.067 |
|
|
DEFERRED TAX LIABILITIES |
1.916 |
2.712 |
4.787 |
|
|
|
|
|
|
|
|
TOTAL |
6034.978 |
5867.895 |
5923.000 |
|
|
|
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|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
32.809 |
39.000 |
41.052 |
|
|
Capital work-in-progress |
7.794 |
1.706 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5715.235 |
5682.051 |
5699.930 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
474.433
|
635.799
|
1569.533
|
|
|
Sundry Debtors |
551.151
|
150.510
|
448.078
|
|
|
Cash & Bank Balances |
1.147
|
35.351
|
16.983
|
|
|
Other Current Assets |
16.982
|
15.741
|
10.926
|
|
|
Loans & Advances |
232.711
|
187.903
|
389.754
|
|
Total
Current Assets |
1276.424
|
1025.304
|
2435.274
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
736.835
|
665.273
|
2066.700
|
|
|
Other Current Liabilities |
56.120
|
59.812
|
55.051
|
|
|
Provisions |
204.329
|
155.078
|
131.505
|
|
Total
Current Liabilities |
997.284
|
880.163
|
2253.256
|
|
|
Net Current Assets |
279.140
|
145.138
|
182.018
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6034.978 |
5867.895 |
5923.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4865.158 |
5382.193 |
4205.622 |
|
|
|
Other Income |
48.543 |
152.156 |
60.823 |
|
|
|
TOTAL (A) |
4913.701 |
5534.349 |
4266.445 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
4501.595 |
4872.658 |
3799.561 |
|
|
|
Manufacturing and Trading Expenses |
108.209 |
426.658 |
163.968 |
|
|
|
Personnel Costs |
66.218 |
58.039 |
33.264 |
|
|
|
Administrative and Other Expenses |
52.799 |
60.036 |
48.169 |
|
|
|
TOTAL (B) |
4728.821 |
5417.391 |
4044.962 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
184.880 |
116.958 |
221.483 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.857 |
68.846 |
74.426 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
176.023 |
48.112 |
147.057 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.962 |
6.906 |
6.802 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
169.061 |
41.206 |
140.255 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
65.633 |
24.445 |
58.499 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
103.428 |
16.761 |
81.756 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
226.583 |
227.372 |
163.990 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Preference Shares |
15.000 |
15.000 |
15.000 |
|
|
|
Corporate Dividend Tax |
2.491 |
2.550 |
2.549 |
|
|
|
Transitional Gratuity Provision Adjustment |
-- |
-- |
0.825 |
|
|
BALANCE CARRIED
TO THE B/S |
312.520 |
226.583 |
227.372 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1220.439 |
1201.703 |
635.899 |
|
|
|
Commission Earnings |
0.000 |
10.146 |
5.419 |
|
|
|
Other Claim Received |
11.867 |
7.720 |
0.000 |
|
|
TOTAL EARNINGS |
1232.306 |
1219.569 |
641.318 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
32.347 |
23.930 |
14.815 |
|
|
|
Finished Goods |
2472.603 |
2742.484 |
3730.238 |
|
|
|
Others |
2.193 |
2.775 |
1.856 |
|
|
TOTAL IMPORTS |
2507.143 |
2769.189 |
3746.909 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.86 |
[0.03] |
2.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.10 |
0.30
|
1.92
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.47 |
0.77
|
3.33
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.91 |
3.87
|
5.66
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.01
|
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.19 |
0.16
|
0.40
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.16
|
1.08
|
LOCAL AGENCY FURTHER INFORMATION
Details
of sundry creditors:
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry
Creditors |
|
|
|
|
a) Total Outstanding dues of micro
Enterprises and Small Enterprises |
-- |
-- |
-- |
|
b) Total Outstanding dues to creditors
other than micro enterprises and small enterprises |
736.835 |
665.273 |
2066.700 |
|
Total |
736.835 |
665.273 |
2066.700 |
OPERATION
During the year the profit after tax stood at
Rs.103.428 Millions as compared to Rs. 16.761 millions in the previous
financial year.
Note:
The registered Office of the company has been shifted from 71-A, Mittal
Chambers, 7th Floor, Nariman Point, Mumbai – 400021, Maharashtra,
India to present address with effect from 07.05.2007
Contingent
Liabilities not provided for :
a) Claim against
the company not acknowledged as debts:-
(Rs
in Millions)
|
S.N. |
In Respect of |
2010 |
2009 |
|
1 |
Income Tax matters |
Nil |
2.184 |
|
2 |
Custom Duty matters |
16.261 |
12.107 |
|
3 |
Sales Tax matters |
153.562 |
153.562 |
|
4 |
Others |
1.388 |
0.997 |
|
|
Total |
171.211 |
168.850 |
b) Guarantees given
by banks on behalf of the company for Rs. 21.226 Millions (Previous year Rs. 11.432
Millions) out of which Rs. 0.294 Million (Previous year Rs. 0.294 Million) is
secured by way of lien on Fixed Deposits with the guaranteeing bank.
c) Bills discounted
with Bank Rs. Nil (Previous year Rs. 141.253 Millions)
d) Value of Bonds
given to the Custom Department under Section 59 of the Custom Act, 1962 for
warehousing the goods in Bonded Warehouse :- Rs. 235.727 Millions (Previous
year Rs. 162.430 Millions)
e) Rent not provided
due to pending dispute with Licensor:- Rs. 3.079 Millions (Previous year Rs.
Nil)
(The company has represented to the Licensor that the company is not
liable to pay rent w.e.f. 01.07.2009 (date of demolition of premises by local
authorities) and the obligation to pay rent will be crystallized on outcome of suit
filed by premises owner against licensor)
Form 8:
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U17110MH2000PLC127428 |
|
Name of the
company |
BGH EXIM LIMITED |
|
Address of the registered
office or of the principal place of
business in |
213, 2nd Floor,
T. V. Industrial Estate, 52, S. K. Ahire Marg, Worli, Mumbai - 400030,
Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
90145305 |
|
Type of charge |
|
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House
Senapati Bapat Marg, Lower Parel West, Mumbai – 400013, |
|
Nature of
instrument creating charge |
Supplemental
Letter of Hypothecation of Stocks and Book Debts dated 28 January 2011. |
|
Date of
instrument Creating the charge |
28.01.2011 |
|
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 mutually
agreed form time to time Terms of
Repayment On Demand Margin - 25% on Stock
for CC - 25% on book
debts < 90 Days for CC - 90% of FOB
value of LC/ confirmed Order/ Running account for pre shipment credit - Nil for Post
shipment Credit - Or such other
margin as may be stipulated by the
bank from time to time Extent and
Operation of the charge Exclusive First
charge on entire stocks and book debt both present and future. |
|
Short particulars
of the property charged |
Exclusive First
Charge on entire stocks and book debts both present and future |
|
Date of instrument
modifying the charge |
29.08.2008 |
|
Particulars of
the present modification |
By executing the
present supplemental letter of hypothecation of stocks and book debts dated
28.01.2011, some modification have been carried out and the existing fund
based limited of Rs. 150.000 Millions has been increased to Rs. 300.000
Millions. Total sanctioned limits remain same at Rs. 1000.000 Millions |
|
Name of the company |
BGH EXIM LIMITED |
|
Presented By |
Shri
S K Saboo, Director |
|
1) Date and description of instrument creating the change |
Letter of Hypothecation of Stock and book debts dated 22nd
July, 2004 executed by the company. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 110.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
a)
All goods, both present 81'1dfuture, consisting
of stocks, shares, bonds, debentures, and any other securities, whatsoever,
being movable properties now or at any time hereafter belonging to us or at
disposal and now or at any time and from time to time hereafter stored or be
stored or brought into or upon or in course of . Transit to the premises or
at any other places whatsoever and whosesoever ever in our possession or
occupation or any other premises or places. b)
All the book debts, outstanding, monies
receivable. claims and bills which are now due and owing or which may at any time
hereafter during the continuance of this security becomes due and owing to
the Borrower in the course of its business by any person, firm, company or
body corporate or by the Government Department or office or any Municipal or
Local or Public or Semi Government Body or authority or any body corporate or
undertaking or project |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
a)
The security by way of first charge to be a
continuing security for the due repayment by the company to HDFC Bank Limited
at any time on demand of all the monies. b)
So long as any monies are outstanding in any
of the said credit facilities, the company shall pay to the Bank interest at
the rate. as may be communicated by the Bank to us from time to time with
monthly rests on daily debit balances and the Letter of Hypothecation of
Stock and Book Debts shall be construed as jf such revised rate of interest
was mentioned in the said Letter of Hypothecation of Stock and Book Debts and
thereby secured. c)
The company shall at all times during the
continuance of this security maintain the said debts of f1sufficient amount
or the said goods of a sufficient quantity and value (as estimated by the
Bank) so as to provide the margin of security as may from time to time be
advised to us by the Bank and shall forthwith as the Bank may require
hypothecate to the Bank such further debts or goods approved by the Bank and
of sufficient value to make up the deficiency or shall reduce the amount for
the time being due to the Bank by the Cash Payment so as to maintain the said
margin. d)
The Company shall at its own expense during the
continuance of the security keep the. said goods in marketable and good
condition and insure and keep insured the said goods at all times against the
loss or damage, by fire, theft and such other risks as .The Bank shall
require for the full market value thereof with an Insurance Company approved
by the Bank and shall handover / produce the policies of insurance / renewals
thereof and the receipts of the premia paid to the Sank on demand and shall
a6sign forthwith the policies to the Bank and punctually pay the premia due
for such insurance. In default the Bank may (but shall not be bound to) keep
in good condition and render marketable the said goods or effect or renew
such insurance. Any premium paid by the Bank and any such costs, charges and
expenses incurred by the Bank shall be forthwith re-imbursed by us to the
Bank and shall until repayment with interest at the rate aforesaid be covered
by this hypothecation charge. All sums received under such insurance shall be
applied in or towards liquidation of the amount for the time being due to the
Bank as herein provided. e) The Company not to create any pledge, charge, mortgage or lien whatsoever upon / in respect of the said goods and or the said debts or any part thereof specially or otherwise in favour of any other party except Bank of America ( by way of 2nd charge) nor create any security ranking paripassu with and / or subject to . The security hereby created. The Company shall not permit or suffer to be done any act or thing which may adversely affect or prejudice the Bank's security thereon. f)
Other terms and conditions as per the Letter of
Hypothecation of Stock and Book Debts dated 22/07/04 executed by the company
in favour of HDFC Bank limited. |
|
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 |
Supplemental
letter of Hypothecation of Stocks and Book Debts executed by the Company on 12/02/05. |
|
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. |
By the present
modification the overall limit sanctioned by the bank has increased from Rs.
110.000 millions to Rs. 620.000 millions. The Funded
Facilities have increased from earlier Rs. 100.000 Millions to 120.000
millions and non funded facilities shave increased form earlier Rs. 10.000
million to Rs. 500.0000 millions Other terms and
condition shall remain the same as mentioned in the Letter of Hypothecation
of Stock and book debts dated 22nd July, 2004 |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90145305 |
|
Corporate
identity number of the company |
U17110MH2000PLC127428 |
|
Name of the
company |
BGH EXIM LIMITED |
|
Address of the registered
office or of the principal place of
business in |
213, 2nd Floor,
T. V. Industrial Estate, 52, S. K. Ahire Marg, Worli, Mumbai - 400030,
Maharashtra, India |
|
Type of charge |
·
Book
Debts ·
Movable
Property (Not Being Pledge) ·
Floating
Charge ·
Others |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank Limited, Lower Parel W, Mumbai, -
400013, E-mail - Sudha.Manojkumar@hdfcbank.com |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental
Letter of Hypothecation of Stocks and Book Debts dated 29th August 2008. |
|
Date of
instrument Creating the charge |
29/08/2008 |
|
Amount secured by
the charge |
Rs. 1000. 000 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As mutually agreed from time to time. Terms of Repayment : On Demand Margin ·
25%
on stock for CC ·
25 %
on Book Debt <90 days for CC ·
90 %
of FOB Value of LC / Confirmed Order / Running Account for pre shipment
credit. ·
NIL
for Post Shipment Credit ·
Or
Such Other Margin as may be stipulated by the bank from time to time. Extent and Operation of the charge Exclusive charge on
Stocks and book debts both present and future. |
|
Short particulars
of the property charged |
Exclusive charge
on Stocks and book debts both present and future. |
|
Date of latest
modification prior to the present modification |
16.06.2005 |
|
Particulars of
the present modification |
By executing the
present supplemental Letter of Hypothecation of Stocks and Book Debts dated
29/08/2008. Some modifications have been carried out and the existing limit
of Rs. 970.000 millions has been increased to Rs. 1000.000 millions. |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Office Equipment
·
Furniture and Fixture
·
Computers
·
Vehicles
INTANGIBLE ASSETS
·
Technical Know-how
·
Marketing know-how
·
Trade name
·
Goodwill
·
Computer software
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.44.57 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.62.60 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.