MIRA
INFORM REPORT
|
Report Date : |
06.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
EEL INDIA PRIVATE LIMITED (w.e.f. 24.08.2010) |
|
|
|
|
Formerly known
as : |
EEL INDIA LIMITED |
|
|
|
|
Registered
Office : |
402, Udyog Vihar, Phase III, Dundahera, Gurgaon 122016, Haryana |
|
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|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.04.1988 |
|
|
|
|
Com. Reg. No.: |
032878 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.58.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909HR1988PTC032878 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturers of Bag Packing Machine, Bag Loading Machine
and Conveyors. |
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|
|
|
No. of Employees
: |
320 (69 Office , 251 Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 3684340 |
|
|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine track. Financials
of the company appear to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular 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.
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 |
LOCATIONS
|
Registered Office/ Works Unit II : |
402, Udyog Vihar, Phase III, Dundahera, Gurgaon 122016, Haryana, |
|
Tel. No.: |
91-124-3012050-52 |
|
Fax No.: |
91-124-2340250 / 2340633 |
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E-Mail : |
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Corporate Office : |
Unit No. 710 and 711, 7th Floor-B-WIng, "Kanara Business
Centre", Laxmi Nagar, Off Ghatkopar - Andheri Link Road, Ghatkopar East,
Mumbai - 400 075, Maharashtra, India |
|
Tel. No.: |
91-22 - 2500 3439 |
|
Fax No.: |
91-22 - 2500 0641 |
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E-Mail : |
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|
Spares Division
and Works Unit-I : |
509, Udyog Vihar, Phase - III, Dundahera, Gurgaon,
|
|
Tel. No.: |
91-124 - 3917570 - 74 |
|
Fax No.: |
91-124 - 3917568 |
|
E-Mail : |
|
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|
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Works Unit-III : |
116-117, Sector-7, HSIIDC, G.C., Bawal, Distt. Rewari, |
|
Tel. No.: |
91 - 1284 - 264294, 264066 |
|
Fax No.: |
91 - 1284 - 264294 |
|
E-Mail : |
DIRECTORS
AS ON 25.09.2010
|
Name : |
Mr. R. C. Kapoor |
|
Designation : |
Director |
|
Address : |
E-364, Greater Kailash, Part-1, News Delhi-10048 |
|
Date of Birth/Age : |
19.03.1937 |
|
Date of Appointment : |
30.06.2004 |
|
Date of Cessation : |
28.07.2009 |
|
|
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|
Name : |
Mrs. Anjana Kapoor |
|
Designation : |
Director |
|
Address : |
E-364, Greater Kailash, Part-1, News Delhi-10048 |
|
Date of Birth/Age : |
09.07.1944 |
|
Date of Appointment : |
27.09.2004 |
|
Date of Cessation : |
28.07.2009 |
|
|
|
|
Name : |
Ms. Pooja Kapoor |
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Designation : |
Director |
|
Address : |
E-364, Greater Kailash, Part-1, News Delhi-10048 |
|
Date of Birth/Age : |
16.2.1970 |
|
Date of Appointment : |
11.03.2001 |
|
Date of Cessation : |
28.07.2009 |
|
|
|
|
Name : |
Mr. Rajiv Sharma |
|
Designation : |
Director |
|
Address : |
E-364, Greater Kailash, Part-1, News Delhi-10048 |
|
Date of Birth/Age : |
16.09.1954 |
|
Date of Appointment : |
27.09.2004 |
|
Date of Cessation : |
28.07.2009 |
|
|
|
|
Name : |
Mr. Vijay Krishan Louria |
|
Designation : |
Director |
|
Address : |
E-364, Greater Kailash, Part-1, News Delhi-10048 |
|
Date of Birth/Age : |
15.07.1942 |
|
Date of Appointment : |
05.06.2004 |
|
|
|
|
Name : |
Mr. Subhash C Vasudeva |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.07.1938 |
|
Date of Appointment : |
05.06.2004 |
|
|
|
|
Name : |
Mr. Ram K Srivastava |
|
Designation : |
Director |
|
Date of Birth/Age : |
01.07.1963 |
|
Date of Appointment : |
28.06.2009 |
|
Date of Cessation : |
29.06.2009 |
|
|
|
|
Name : |
Mr. Stefano Olivari |
|
Designation : |
Director |
|
Address : |
Via, |
|
Date of Birth/Age : |
27.12.1965 |
|
Date of Appointment : |
28.07.2009 |
|
|
|
|
Name : |
Mr. Simon Jensen |
|
Designation : |
Chairman |
|
Address : |
Via Principale 11, Correzzane Italy-20050 |
|
Date of Birth/Age : |
18.01.1954 |
|
Date of Appointment : |
28.07.2009 |
|
|
|
|
Name : |
Mr. Rahul R Deshmukh |
|
Designation : |
Managing Director |
|
Address : |
703, Regency Apt., |
|
Date of Birth/Age : |
23.11.1969 |
|
Date of Appointment : |
28.07.2009 |
|
|
|
|
Name : |
Mr. Kristian Gregersen |
|
Designation : |
Director |
|
Address : |
Kaerlunden, 39 Broendby Strand, Denmark-2660 |
|
Date of Birth/Age : |
02.04.1950 |
|
Date of Appointment : |
28.07.2009 |
|
|
|
|
Name : |
Mr. D V Prasad |
|
Designation : |
Director |
|
Address : |
5, Raheja Villa, 49, 1st |
|
Date of Birth/Age : |
02.05.1949 |
|
Date of Appointment : |
28.07.2009 |
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|
|
|
Name : |
Mr. Framcesco Ferrandico |
|
Designation : |
Director |
|
Address : |
Del Foppone, 25 Bovisio Masciago, Italy-20030 |
|
Date of Birth/Age : |
15.12.1967 |
|
Date of Appointment : |
25.09.2010 |
KEY EXECUTIVES
|
Name : |
Devi.D. Pruthi |
|
Designation : |
Secretary |
|
Address : |
61 – D, Navyug Adarsh Apartment, F – Block, Vikaspuri, |
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Date of Birth/Age : |
01.01.1942 |
|
Date of Appointment : |
01.10.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Vijay Krishna Lauria S/O Sh. Maharaj Krishan Lauria |
|
78 |
|
Flsmidth Private Limitd, |
|
5849916 |
|
Rudolph Michael Edge |
|
1 |
|
Natrajan Sridharan |
|
1 |
|
M Johnson |
|
1 |
|
Rahul Ratnakar Deshmukh |
|
1 |
|
V Vijayagopal |
|
1 |
|
Enkateswara Prasad Desiraju |
|
1 |
|
Total |
|
5850000 |
AS ON 25.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
99.99 |
|
Directors or relatives of directors |
|
0.01 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Bag Packing Machine, Bag Loading Machine
and Conveyors. |
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Products : |
Ř Rotopacker Ř Netweigher Ř Air Packer Ř Impeller Packer Ř Big Bag Machine Ř Bag Loading Ř Bucket Elevator Ř Screen Ř Loading Spout Ř Silo Ř Stainless Steel Fabrication
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Exports : |
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Products : |
Cements, Chemical, Fertilizer Industries |
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Countries : |
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Imports : |
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Products : |
Raw materials and machineries |
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Countries : |
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Terms : |
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Selling : |
L/C or Credit (30 days) terms. |
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Purchasing : |
Cash or Credit (30 days) terms. |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
|
|
Unit |
Actual
Production |
|
Baq
Packing Machines |
|
|
Nos |
59 |
|
Bag
Loadinq Machines |
|
|
Nos |
76 |
|
Bulk
Loadinq Machines |
|
|
Nos |
11 |
|
Bucket
Elevators |
|
|
Nos |
1 |
|
Baq
Divertors |
|
|
Nos |
164 |
|
Baq
Cleaninq Device |
|
|
Nos |
36 |
|
Conveyors |
|
|
Nos |
89 |
|
Feeders |
|
|
Nos |
1 |
|
Screens |
|
|
Nos |
46 |
|
Air
Pollution Control Equipments |
|
|
Nos |
3 |
|
Other
Equipments |
|
|
|
68 |
|
Total |
|
|
|
554 |
|
|
|
|
|
|
|
Scrap |
|
|
Tons |
238 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
·
Some of its Domestic Customers are · Grasim Industries, Raipur, India
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No. of Employees : |
320 (69 Office , 251 Factory) |
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Bankers : |
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Facilities : |
* Secured Against Equitable Mortgage Of Immovable Properties With A
Par1 Passu First Charge And Hypothecation Of Movable Assets Excluding
Vehicles) (Personally Guaranted By Two Directors Of The Company ** Secured Against Equitable Mortgage Of Immovable Properties
Hypothecation Of Movable Assets Excluding Vehicles Personally Guaranted By
Two Directors Of The Company ) (Payable
Within Next Twelve Month Rs
21.931 millions ***Loan for Vehicles are secured by
hypothecation of specific Vehicles with first and exclusive charge. Amount of
loan repayable within a year Rs.0.060 million. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloite Haskins And Sells |
|
Address : |
7th |
|
|
|
|
Holding Company : |
Flsmidth Private Limited (w.e.f. 28.07.2009) |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs. 10 each |
Rs.60.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5850000 |
Equity Shares |
Rs. 10 each |
Rs.58.500
millions |
Of the above
- 5482208 equity
shares of Rs 10/- each allotted as fully paidup bonus equity Shares by
capitalisation of general reserve and Capital redemption reserves.
- 5849922 equity
shares of Rs.10 each fuly paid up are held by Flsmidth Private Limited,
the Holding Company.
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 |
58.500 |
58.500 |
58.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
862.585 |
663.117 |
602.732 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
921.085 |
721.617 |
661.232 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.690 |
84.587 |
121.824 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
24.690 |
84.587 |
121.824 |
|
|
DEFERRED TAX LIABILITIES |
29.405 |
30.270 |
29.840 |
|
|
|
|
|
|
|
|
TOTAL |
975.180 |
836.474 |
812.896 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
489.476 |
491.093 |
493.073 |
|
|
Capital work-in-progress |
1.542 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
221.960 |
169.615 |
156.053 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
223.654
|
167.995
|
132.024 |
|
|
Sundry Debtors |
239.108
|
246.211
|
360.708 |
|
|
Cash & Bank Balances |
43.712
|
180.487
|
73.014 |
|
|
Other Current Assets |
6.540
|
4.086
|
1.978 |
|
|
Loans & Advances |
34.257
|
23.156
|
47.209 |
|
Total
Current Assets |
547.271
|
621.935
|
614.933 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000
|
0.000 |
|
|
Other Current Liabilities |
263.023
|
360.767
|
380.349 |
|
|
Provisions |
22.046
|
85.402
|
70.814 |
|
Total
Current Liabilities |
285.069
|
446.169
|
451.163 |
|
|
Net Current Assets |
262.202
|
175.766
|
163.770 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
975.180 |
836.474 |
812.896 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Income |
1206.497 |
2021.486 |
1720.340 |
|
|
|
Other Income |
|
21.529 |
12.759 |
|
|
|
TOTAL (A) |
1206.497 |
2043.015 |
1733.099 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
|
1303.186 |
1215.895 |
|
|
|
Employees Remuneration |
|
89.883 |
64.818 |
|
|
|
Increase/(Decrease) in Finished Goods |
887.956 |
(9.936) |
(2.248) |
|
|
|
Impairment (Current Investments) |
|
6.270 |
6.874 |
|
|
|
Transfer From Revaluation Reserve |
|
(1.127) |
(1.146) |
|
|
|
Administrative Expenses |
|
122.323 |
66.821 |
|
|
|
TOTAL (B) |
887.956 |
1510.599 |
1351.014 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
318.541 |
532.416 |
382.085 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
5.833 |
8.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
318.541 |
526.583 |
373.777 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.777 |
15.150 |
13.646 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
304.764 |
511.433 |
360.131 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
101.901 |
172.685 |
122.895 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
202.863 |
338.748 |
237.236 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
29.035 |
113.977 |
45.118 |
|
|
|
|
|
|
|
|
|
|
DEFERRED TAX LIABILITY FOR EARLIER YEARS WRITTEN BACK |
0.000 |
0.000 |
0.000 |
|
|
|
INCOME TAX OF EARLIER YEARS |
0.000 |
(1.250) |
0.053 |
|
|
|
PRIOR YEAR ADJUSTMENT (NET) |
0.000 |
(0.172) |
0.010 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
148.500 |
100.000 |
|
|
|
Interim Dividend |
0.000 |
175.500 |
14.625 |
|
|
|
Dividend |
0.000 |
58.500 |
43.875 |
|
|
|
Tax on Dividend |
0.000 |
39.768 |
9.940 |
|
|
BALANCE CARRIED
TO THE B/S |
231.898 |
29.035 |
113.977 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
91.154 |
107.560 |
163.499 |
|
|
|
Commission Earnings |
0.000 |
6.727 |
0.510 |
|
|
|
Other Earnings |
7.276 |
1.671 |
1.029 |
|
|
TOTAL EARNINGS |
98.430 |
115.958 |
165.038 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
93.004 |
188.329 |
141.099 |
|
|
|
Capital Goods |
0.000 |
0.017 |
0.000 |
|
|
TOTAL IMPORTS |
93.004 |
188.346 |
141.099 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
34.68 |
57.66 |
40.56 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
16.81
|
16.58
|
13.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
25.30
|
20.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.39
|
45.94
|
32.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.71
|
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.01
|
0.77
|
0.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91
|
1.39
|
1.36 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
REVIEW:
During
the year 2009-10 the performance of the company was adversely affected because
of worldwide recession resulting implementation of some of the major projects
of Indian cement industry got delayed. Thereby either affecting the dispatches
of machinery for those projects or putting some of the projects on hold.
The
present Indian Government plans to spend more than $500 billion on the
infrastructure in the 11th Five Year Plan. This Plan includes
building road infrastructure, which may require about 75 million metric tones
of cement and power infrastructure which demands around 45 million MT of
cement.
The
upcoming Special Economic Zones (SEZs) in areas such as
From
the above this may please be noted that the future of cement industry, which is
one of the major customer of the company, is bright and accordingly the future
of the company.
In
the year, the company has achieved turnover of Rs.1204.800 millions only which
as compared previous year is less. The reduction in turnover may be attributed
to:
There
has been worldwide recession effecting the major development project resulting
in the company's customers (major cement producing companies) going slow in
their expansion projects and resulting in not lifting the materials or
extending the scheduled deliveries.
During
this year there was a change in the management also which resulted in slow down
of the production for a short time during change over period.
The
bottom line of the company has also got effected because of above and could
register a profit of Rs.301.500 millions only as compared to last year profit
of Rs.511.400 millions but contribution margin remains almost same i.e. 25% as
compared to 24.9% of 2008-09.
Some
of the highlights of the year are as follows:
- On July 28, 2009
company was taken over by M/s, FLSmidth Private Limited. who is a
subsidiary of M/s. FLSmidth
- At Bawal Unit Plasma
Cutting Machine was installed and successfully commissioned which has
resulted in better quality of the finished products and augmentation of
the fabrication capacity.
- Video Conferencing
System: We can do video conferencing with their clients, supplier and
group companies.
- PA system installed at
our Corporate Office for announcement.
- McArTe Corporate
Antivirus installed for servers, desktops and network security.
- Cyberoam Firewall
installed. All WAN links are terminated on cyberoam for gateway security.
- CCTV System: CCTVcamera
installed at all units for monitoring.
- VPN and P2P
connections: All units and offices are connected via MPLS and P2P with
backup links on automatic failover. Insite connectivity from FLSmidth
- Online customer
support: They are supporting our customers worldwide remotely,
telephonically and via
emails. They are providing support to Afrisam Group SA using Cisco VPN client software. - Oracle based ERP
Implemented: Add-ons /Customization in progress for areas related to
production, better shop control. Valuation of inventory completed through
system, all business process including partial production module made
fully online (Improved inventory management). Customized service and
spares module developed and made fully operational
Fixed Assets:
- Land – Free
Hold
- Building
- Office
Equipment
- Plant and
Machinery
- Vehicles
- Tube Well
- Computers
- Furniture and
Fixtures
Form 8:
|
Name of the company |
EEL INDIA LIMITED |
|
Presented
By |
Corporation Bank, greater Kailash – 2, |
|
1) Date and description of instrument creating the change |
Charge Create on
24.03.2001 and Registered on 17.04.2001 Previously
modified on 5.04.2004 for amount of charge on immovable properties stands
enhanced from Rs.74.500 millions to Rs.92.000 millions and modification
registered on 23.04.2004 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.74.500
millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Equitable
mortgage by way of deposit of title deeds in respect of company’s immovable
properties situated at plot No. 509 and 510, Udyog Vihar, Phase – 3,
Dundajera, Gurgaon, Haryana admeasuring 2000sq.mtrs with work shop sheds and
building and other super structures threat belonging to the company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The above is
mortgaged to collaterally secure the credit facilities granted to the company
to the extent of Rs.74.500 millions |
|
5) Name and Address and description of the person entitled to the charge. |
Corporation Bank Greater Kailash –
2, |
|
6) Date and brief description of instrument modifying the charge |
08.07.2005 |
|
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. |
The extent of
operation of charge on equitable mortage of company’s immovable property
situated at plot No. 509 and 510, Udyog Vihar, Phase – 3, Dundajera, Gurgaon,
Haryana, admeasuring 2000sq.mtrs with work shop sheds and buildings other and
other super structures threat belonging to the company stands enhanced
fromRs.92.000 millions to Rs.106.500 millions shall also collaterally secure
following credit facilities granted to the company. Cash credit
(hypothecation) limited 7.500 millions Bill discounting
/ cheque limit 2.000 million Packing credit
(hypothecation) limit 13.500 millions FDBN Limit 13.500
millions Bank Guarantee
Limit 70.000 millions Sub Limit for
foreign BG (25.000) millions Sub limit for
import / inland LC (DP/DA) (15.000 ) millions |
|
Corporate
identity number of the company |
U51909HR1988PTC032878 |
|
Name of the
company |
EEL INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
402, Udyog Vihar, Phase III, Dundahera, Gurgaon 122016, Haryana, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Corporation Bank, M 3 and 4, Greater Kailash II, Email: gselvam.ganesan@gmail.com |
|
Nature of
instrument creating charge |
Common Deed Of
Hypothecation Of Movables/Assets/Debts |
|
Date of
instrument Creating the charge |
21.05.2009 |
|
Amount secured by
the charge |
Rs. 733.100
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest As Per Sanctioned
Terms / Agreement Terms of repayment As Per Sanctioned
Terms / Agreement Margin As Per Sanctioned
Terms / Agreement Extent and operation of the charge Exclusive first
charge on present and future inventories, book debts, plant and machinery and
other current assets and movable fixed assets excluding vehicles is to secure
the following credit facilities: Cash Credit Rs.50.000 millions PCL Rs.20.000
millions ,FDBN Rs. 20.000 millions BG cum LC Rs.600 millions and Term Loan
Rs.43.100 millions aggregating to Rs.733.100 millions sanctioned to the company. |
|
Short particulars
of the property charged (Including location of the property) |
Exclusive first
charge on present and future inventories, book debts, plant and machinery and
other current assets and movable fixed assets excluding vehicles. |
|
Date of
instrument modifying the charge |
17.04.2008 |
|
Particulars of the
present modification |
The amount
secured is increased from Rs.654.600 millions to Rs. 733.100 millions to
secure the credit limits detailed in Col. 13(e) above) security: Exclusive
first charge on present and future inventories, book debts, P&M and other
current assets and movable fixed assets excluding vehicles. |
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.44.85 |
|
|
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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.