MIRA
INFORM REPORT
|
Report Date : |
18.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
OAK SHIPPING SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-30, First Floor, Acharya Niketan, Mayur Vihar, Phase – I, New Delhi
– 110091 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011(Provisional) |
|
|
|
|
Date of
Incorporation : |
06.01.2005 |
|
|
|
|
Com. Reg. No.: |
131872 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63012DL2005PTC131872 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELO02515C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO7186L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
International Freight Forwarders and Logistics Solutions Provider. |
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|
|
|
No. of Employees
: |
18 (Approximately) (Office – 16 and Branch – 2) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
No Complaints |
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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. The valuation report and networth statement
provided seems to be satisfactory. No complaints have been heard from indirect
or market sources. 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. Nitin Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-9811774934 |
|
Date : |
13.06.2011 |
LOCATIONS
|
Registered Office : |
D-30, First Floor, Acharya Niketan, Mayur Vihar, Phase – I, New Delhi
– 110091, India |
|
Tel. No.: |
91-11-43653300 (30 Lines) / 22754135/ 43653311 (10 Lines) |
|
Mobile No.: |
91-9811774934 (Mr. Nitin Gupta |
|
Fax No.: |
91-11-43653323/ 22754127 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch office : |
Room No.76, Bindra Complex, Phase 5, Focal Point, Ludhiana, Punjab,
India |
|
Tel. No.: |
91-161-5034479/ 5035479/ 5036479 |
|
Fax No.: |
91-161-5034579 |
|
E-Mail : |
|
|
Location : |
Rented |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Deepti Gupta |
|
Designation : |
Director |
|
Address : |
2164, Gali Sudama, Bazar Sita Ram, Delhi – 110006, India |
|
Date of Birth/Age : |
14.01.1980 |
|
Qualification : |
Graduate |
|
Experience : |
3 Years |
|
Date of Appointment : |
20.10.2010 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Nitin Gupta |
|
Designation : |
Director |
|
Address : |
2164, Gali Sudama, Bazar Sita Ram, Delhi – 110006, India |
|
Date of Birth/Age : |
08.08.1977 |
|
Qualification : |
Post Graduate |
|
Experience : |
10 Years |
|
Date of Appointment : |
06.01.2005 |
|
PAN No.: |
AFYPG8284K |
|
|
|
|
Name : |
Mr. Om Prakash Gupta |
|
Designation : |
Director |
|
Address : |
2164, Gali Sudama, Bazar Sita Ram, Delhi – 110006, India |
|
Date of Birth/Age : |
14.10.1942 |
|
Qualification : |
Graduate |
|
Experience : |
5 Years |
|
Date of Appointment : |
06.01.2005 |
|
PAN No.: |
AARPP5863H |
|
|
|
|
Name : |
Mr. Prakash Chand Sharma |
|
Designation : |
Director |
|
Address : |
D-30, First Floor, Acharya Niketan, Mayur Vihar, Phase – I, New Delhi – 110091, India |
|
Date of Birth/Age : |
30.10.1964 |
|
Qualification : |
Graduate |
|
Experience : |
10 Years |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
ABGPS0559K |
|
|
|
|
Name : |
Mr. Ashok Kumar Sharma |
|
Designation : |
Director |
|
Address : |
House No.T-510, F-23 B/1, Baljeet Nagar, New Delhi – 110008, India |
|
Date of Birth/Age : |
25.05.1974 |
|
Qualification : |
Graduate |
|
Experience : |
9 Years |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
AZIPS1509D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Nitin Gupta |
|
5000 |
|
Om Prakash Gupta |
|
5000 |
|
|
|
|
|
Total |
|
10000 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
International Freight Forwarders and Logistics Solutions Provider. |
GENERAL INFORMATION
|
Customers : |
Exporter and Importer |
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No. of Employees : |
18 (Approximately) (Office – 16 and Branch – 2) |
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Bankers : |
· HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel, Mumbai – 400013,
Maharashtra, India · Corporation Bank Karol Badh, India · ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Mathur Nitin and Company Chartered Accountant |
|
Address : |
207, Gupta Arcade, LSC, Mayur Vihar, Phase – I Extension, Delhi –
110091, India |
|
Tel. No.: |
91-11-22717886/ 22717887 |
|
Fax No.: |
91-11-22717887 |
|
Email : |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.375 |
0.375 |
0.375 |
0.375 |
|
|
3] Reserves & Surplus |
8.486 |
5.365 |
3.408 |
2.140 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.961 |
5.840 |
3.883 |
2.615 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
0.576 |
1.093 |
0.529 |
0.708 |
|
|
2] Unsecured Loans |
4.266 |
1.150 |
0.900 |
0.011 |
|
|
TOTAL BORROWING |
4.842 |
2.243 |
1.429 |
0.719 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
13.803 |
8.083 |
5.312 |
3.334 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.590 |
2.886 |
0.999 |
1.078 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
2.255 |
1.225 |
1.225 |
1.125 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
31.064
|
18.614
|
9.184 |
10.598 |
|
|
Cash & Bank Balances |
(1.658)
|
0.658
|
3.133 |
0.037 |
|
|
Other Current Assets |
2.057
|
3.436
|
1.978 |
1.522 |
|
|
Loans & Advances |
0.000
|
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
31.463
|
22.708 |
14.295 |
12.157 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditor |
18.647
|
14.515
|
8.214 |
8.678 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
0.000
|
|
|
Provisions |
3.862
|
4.227
|
2.999 |
2.356 |
|
Total
Current Liabilities |
22.509
|
18.742
|
11.213 |
11.034 |
|
|
Net Current Assets |
8.954
|
3.966
|
3.082 |
1.123 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.004 |
0.006 |
0.006 |
0.008 |
|
|
|
|
|
|
|
|
|
TOTAL |
13.803 |
8.083 |
5.312 |
3.334 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
184.519 |
132.588 |
93.804 |
101.256 |
|
|
|
Other Income |
0.343 |
1.167 |
0.728 |
0.931 |
|
|
|
TOTAL |
184.862 |
133.755 |
94.532 |
102.187 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Operating Expenses |
7.725 |
5.948 |
4.236 |
3.301 |
|
|
|
Freight and Haulage Expenses |
170.359 |
120.701 |
84.600 |
93.824 |
|
|
|
Brokerage Paid |
1.892 |
3.688 |
3.613 |
2.820 |
|
|
|
Preliminary Expenses W/Off |
0.001 |
0.001 |
0.001 |
0.001 |
|
|
|
TOTAL |
179.977 |
130.338 |
92.450 |
99.946 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.885 |
3.417 |
2.082 |
2.241 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.369 |
0.570 |
0.197 |
0.220 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.516 |
2.847 |
1.885 |
2.021 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.396 |
0.893 |
0.640 |
0.741 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.120 |
1.954 |
1.245 |
1.280 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
312.00 |
-- |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.69
|
1.46 |
1.32 |
1.25 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.45
|
2.15 |
2.01 |
1.99 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.26
|
11.12 |
12.33 |
15.27 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.49 |
0.49 |
0.77 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.05
|
3.59 |
3.26 |
4.49 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.21 |
1.27 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING STATEMENTS:
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
|
|
Provisional |
Projected |
|
Sales an d Services Charges |
|
|
|
Sales |
184.519 |
230.648 |
|
Other Income |
0.342 |
1.845 |
|
|
|
|
|
Total |
184.861 |
232.493 |
|
|
|
|
|
Less : Excise Duty |
-- |
-- |
|
|
|
|
|
Net Sales |
184.861 |
232.493 |
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
38.21% |
25.77% |
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
|
-
Imported |
0.000 |
0.000 |
|
-
Indigenous |
0.000 |
0.000 |
|
|
|
|
|
Others Stores and Spares |
|
|
|
-
Imported |
0.000 |
0.000 |
|
-
Indigenous |
0.000 |
0.000 |
|
|
|
|
|
Freight |
170.359 |
215.583 |
|
Brokerage |
1.892 |
2.082 |
|
Operating Expenses |
0.000 |
0.000 |
|
Other Manufacturing Expenses |
0.000 |
0.000 |
|
Depreciation |
0.368 |
0.793 |
|
|
|
|
|
Sub
Total |
172.619 |
218.457 |
|
|
|
|
|
Add: Opening Stock-In-Process |
0.000 |
0.000 |
|
Less: Closing Stock-In-Process |
0.000 |
0.000 |
|
|
|
|
|
Cost
of Production |
172.619 |
218.457 |
|
|
|
|
|
Add: Opening Stock of Finished Goods |
0.000 |
0.000 |
|
Deduct: Closing Stock of Finished Goods |
0.000 |
0.000 |
|
|
|
|
|
SUB TOTAL (Total
cost of sales) |
0.094 |
0.095 |
|
|
|
|
|
Selling, General and Administrative Expenses |
7.579 |
7.716 |
|
% to Net Sales |
0.04 |
0.03 |
|
|
|
|
|
Sub
Total |
180.198 |
226.173 |
|
|
|
|
|
Operating Profit before interests |
4.663 |
6.320 |
|
|
|
|
|
Interests on working capital |
-- |
1.800 |
|
|
|
|
|
Interests on Term Loan |
0.146 |
-- |
|
|
|
|
|
Preliminary expenses Written off |
0.001 |
0.001 |
|
|
|
|
|
Total
Interests |
0.147 |
1.801 |
|
|
|
|
|
Operating Profit After Interests |
4.516 |
4.519 |
|
% to Net Sales |
2.44% |
1.94% |
|
|
|
|
|
Other Non Operating Income |
-- |
-- |
|
Other Non Operating Expenses |
-- |
-- |
|
|
|
|
|
Net
of Non-operating Income and Expenses |
-- |
-- |
|
|
|
|
|
Profit
before Tax/ Loss [PBT] |
4.516 |
4.519 |
|
|
|
|
|
Provision for taxes |
1.396 |
1.360 |
|
|
|
|
|
Net
Profit / Loss [PAT] |
3.120 |
3.159 |
|
|
|
|
|
Retained Profit |
3.120 |
3.159 |
|
|
|
|
|
Gross Profit Ratio |
6.62 |
6.04 |
|
|
|
|
|
Retained profit/ Net Profit % age |
100% |
100% |
|
|
|
|
|
Net Cash Accruals |
3.488 |
3.952 |
-----------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
|
|
Provisional |
Projected |
|
|
|
|
|
Short Term Borrowing from Bank |
|
|
|
i. From Application Bank |
0.000 |
15.000 |
|
ii. From Other Banks |
0.000 |
0.000 |
|
|
|
|
|
SUB
TOTAL (A) |
0.000 |
15.000 |
|
|
|
|
|
Short Term Borrowings From Others |
0.000 |
0.000 |
|
Sundry Creditors (Trader) |
18.648 |
12.740 |
|
Advances Payment from customers |
0.000 |
0.000 |
|
Provision For Taxes |
1.625 |
1.360 |
|
Creditor for Expenses |
0.000 |
0.000 |
|
Dividend Payable |
0.000 |
0.000 |
|
Other Statutory Liabilities (due within one years) |
0.760 |
0.400 |
|
Installments of term loans and Deferred Payment Credits |
0.000 |
0.000 |
|
Other current Liabilities and Provisions (due within one
years) |
4.089 |
1.400 |
|
|
|
|
|
SUB
TOTAL (B) |
25.122 |
15.900 |
|
|
|
|
|
TOTAL
CURRENT LIABILITIES |
25.122 |
30.900 |
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
|
Redeemable Preference Shares |
0.000 |
0.000 |
|
Term Loans |
0.575 |
0.000 |
|
Deferred Payment Credits |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Term Deposit |
0.000 |
0.000 |
|
Deferred Tax Liability |
0.000 |
0.000 |
|
Other Term Liabilities |
4.267 |
5.920 |
|
|
|
|
|
TOTAL
TERM LIABILITIES |
4.842 |
5.920 |
|
|
|
|
|
TOTAL
OF OUTSIDE LIABILITIES |
29.964 |
36.820 |
|
|
|
|
|
NET
WORTH |
|
|
|
Equity Shares Capital |
0.100 |
0.100 |
|
Share Application Money |
0.375 |
0.375 |
|
Partner’s Current A/c |
0.000 |
0.000 |
|
General Reserve |
0.000 |
0.000 |
|
Revolution Reserve |
0.000 |
0.000 |
|
Reserves and Surplus |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
|
Share Premium Account |
0.000 |
0.000 |
|
Surplus (+) or deficit (-) in Profit and Loss Account |
8.485 |
11.644 |
|
|
|
|
|
TOTAL
NET WORTH |
8.960 |
12.119 |
|
|
|
|
|
TOTAL
LIABILITIES |
38.924 |
48.939 |
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
Cash and Bank Balance |
0.193 |
0.345 |
|
Investments [Other than long term investments] |
0.000 |
0.000 |
|
Receivables other than deferred and exports |
31.063 |
41.531 |
|
Export receivables |
0.000 |
0.000 |
|
Government and other Trustee securities |
0.000 |
0.000 |
|
Fixed deposit with bank |
0.000 |
0.000 |
|
Domestic receivable Including BP/ BD |
0.000 |
0.000 |
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
Raw Materials |
|
|
|
- Imported |
0.000 |
0.000 |
|
- Indigenous |
0.000 |
0.000 |
|
|
|
|
|
Stock in Process |
0.000 |
0.000 |
|
Finished Goods |
0.000 |
0.000 |
|
Other Consumable Spares |
0.000 |
0.000 |
|
Advances to suppliers |
0.280 |
1.000 |
|
Advance Payment of Taxes |
1.779 |
1.444 |
|
Other Current Assets |
0.004 |
0.002 |
|
|
|
|
|
TOTAL
CURRENT ASSETS |
33.319 |
44.323 |
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
Gross Block (Land and Building Machinery) |
2.959 |
5.407 |
|
Depreciation to date |
0.368 |
0.793 |
|
|
|
|
|
NET
BLOCK |
2.591 |
4.615 |
|
|
|
|
|
OTHER
NON CURRENT ASSETS |
|
|
|
|
|
|
|
Investments in sub |
0.000 |
0.000 |
|
Advances to suppliers of Capital goods and contractors |
0.000 |
0.000 |
|
Investment in Others |
0.000 |
0.000 |
|
Other Non-Current Investment |
0.000 |
0.000 |
|
|
|
|
|
TOTAL
OTHER NON CURRENT ASSETS |
2.254 |
4.977 |
|
|
|
|
|
Intangible Assets |
-- |
-- |
|
|
|
|
|
TOTAL
ASSETS |
38.164 |
53.914 |
|
|
|
|
|
Tangible Net Worth |
8.960 |
12.119 |
|
|
|
|
|
Net Working Capital |
8.197 |
13.423 |
|
|
|
|
|
Current
Ratio |
1.33 |
1.43 |
|
|
|
|
|
Total
Outside Liabilities/ Tangible Net Worth |
3.34 |
3.04 |
|
Total Term Liabilities |
4.842 |
5.920 |
|
Net worth |
8.960 |
12.119 |
|
Total Current Liabilities |
25.122 |
30.900 |
|
|
|
|
|
Total
Liabilities |
38.924 |
48.939 |
|
|
|
|
|
Total Current Assets |
33.319 |
44.323 |
|
Non- Current Assets |
-- |
-- |
|
Net Fixed Assets |
2.591 |
4.615 |
|
|
|
|
|
Total
Assets |
35.910 |
48.937 |
|
|
(3.014) |
(0.002) |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
|
|
Provisional |
Projected |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
A CURRENT ASSETS |
|
|
|
Raw Materials |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Other consumable spares |
|
|
|
Excluding those included 1 above |
|
|
|
[a] Imported |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Stock in process |
0.000 |
0.000 |
|
Months cost of production |
0.000 |
0.000 |
|
|
|
|
|
Finished goods |
0.000 |
0.000 |
|
Months cost of sales |
0.000 |
0.000 |
|
|
|
|
|
Receivable other than export and deferred receivables
[including bills purchased and discounted by bankers] |
0.000 |
0.000 |
|
Months domestic sales |
0.000 |
0.000 |
|
[excluding deferred payment sales] |
|
|
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers] |
31.063 |
41.531 |
|
(Months Export Sales) |
2.02 |
2.16 |
|
|
|
|
|
Advance to suppliers (RM and Stores) |
0.280 |
1.000 |
|
|
|
|
|
Other current Assets Including cash and bank
Balance and Deffered receivable |
1.976 |
1.792 |
|
|
|
|
|
|
|
|
|
TOTAL CURRENT ASSETS |
33.319 |
44.323 |
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
18.648 |
12.740 |
|
Months Consumption |
0.000 |
0.000 |
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
|
|
|
|
|
Statutory liabilities |
0.000 |
0.000 |
|
|
|
|
|
Other current liability including short term
borrowing dividend payable, installment of DPG public deposit, debentures etc
|
6.474 |
3.160 |
|
|
|
|
|
TOTAL URRENT LIABILITIES |
25.122 |
15.900 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF
MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS.
IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
|
|
Provisional |
Projected |
|
|
|
|
|
Total current assets |
33.319 |
44.323 |
|
|
|
|
|
Others Current Liabilities |
25.122 |
15.00 |
|
[Other than bank borrowings and T L Installment] |
|
|
|
|
|
|
|
Working capital gap [WCG] |
8.197 |
28.423 |
|
|
|
|
|
Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables |
2.049 |
7.106 |
|
|
|
|
|
Actual/ Projected net working capital |
11.211 |
13.424 |
|
|
|
|
|
Item 3 minus item 4 |
6.147 |
21.317 |
|
|
|
|
|
Item 3 minus item 5 |
(3.014) |
14.998 |
|
|
|
|
|
Maximum permissible bank finance |
(3.014) |
14.998 |
|
|
|
|
|
Excess borrowings, if any representing shortfall in NWC |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TAXABLE INCOME
(OAK
SHIPPING SERVICES PRIVATE LIMITED)
(RS.
IN MILLIONS)
|
PARTICULARS
|
2010-11 |
||
|
From
Business or profession other than speculative business |
|
2.847 |
|
|
|
|
|
|
|
Profit before Tax as per profit and loss
account |
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
-
Depreciation debited to profit and loss account |
0.570 |
|
|
|
-
Any other item or items of addition under section 28 to 44 DA |
0.042 |
0.612 |
|
|
|
|
|
|
|
Less:
|
|
|
|
|
Depreciation allowable under Income – Tax
Act |
|
|
|
|
-
Depreciation Allowable under section 32 (I) (II) |
0.570 |
0.570 |
2.889 |
|
|
|
|
|
|
Gross
Total Income |
|
|
2.889 |
|
|
|
|
|
|
Taxable Income |
|
|
2.889 |
|
|
|
|
|
|
Income Tax |
|
|
0.867 |
|
Normal Tax |
|
|
0.867 |
|
Special Tax |
|
|
0.000 |
|
Income Tax Payable |
|
|
0.867 |
|
Surcharge |
|
|
0.000 |
|
Education Cess |
|
|
0.026 |
|
|
|
|
|
|
Tax
Including Surcharge and education cess |
|
|
0.893 |
|
|
|
|
|
|
Less:
Prepaid Tax |
|
|
|
|
TDS |
|
|
0.929 |
|
|
|
|
|
|
Tax
Payable/ Refund |
|
|
(0.036) |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
NAME
OF THE APPLICANT: MR. NITIN GUPTA
NAME
OF THE CO-APPLICANT: MR. OM PRAKASH GUPTA
(RS.
IN MILLIONS)
|
Particulars |
Applicant |
Co-Applicant |
|
|
|
|
|
Address of the
Property with Survey No./ Door No. etc. |
Flat No.5,
Bhamshah Marg, Opposite Kirpal Bagh, Delhi, India |
2164, Street
Sudama, Bazar Seeta Ram, Delhi, India |
|
|
|
|
|
Description: Land/ Site/ Building |
Building |
Building |
|
|
|
|
|
Whether Freehold / Leasehold |
Freehold |
Freehold |
|
|
|
|
|
Type of Property (Commercial/ Residential/ Agricultural) |
Residential |
Residential |
|
|
|
|
|
Area/ Extent of Land |
Covered Area
1830 sq. fts. |
Area – 400 sq.
yds, |
|
|
|
|
|
Mortgaged for Availing Loan is any,
details thereof |
Yes – Mortgaged
Available |
Yes – Mortgaged
Available |
|
|
|
|
|
Present
Market Assessed Value |
Rs.25.000 Millions |
Rs.27.500 Millions |
INVETSMENT
IN BSUIENSS CAPITAL
|
Date of Investment |
06.01.2005 |
06.01.2005 |
|
|
|
|
|
Present
Value of Investment |
Rs.0.050 Million |
Rs.0.050 Million |
DEPOSITS
HELD WITH BANKS/ COMPANIES/ OTHER LENDER ETC.
|
Name of the Bank/ Company Where deposits are held |
Vijaya Bank |
NIL |
|
|
|
|
|
Date of Deposits |
March 2010 |
NIL |
|
|
|
|
|
Nature of Deposits |
FDR |
NIL |
|
|
|
|
|
Present Value of
Deposits |
Rs.0.100 Million |
NIL |
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC.
|
Date of Purchases |
March 2010 |
NIL |
|
|
|
|
|
Present Value |
Rs.0.405 Million |
NIL |
LIFE
INSURANCE POLICIES
|
Policy Numbers |
1.124568355 2. 121915114 |
NIL |
|
|
|
|
|
Date of Policy |
27.02.2009 25.03.2010 |
NIL |
|
|
|
|
|
Type of Policy |
Pension Plan Jeevan Shree |
NIL |
|
|
|
|
|
Annual Premium |
0.045 0.032 |
NIL |
|
|
|
|
|
Sum Assured |
0.500 1.000 |
NIL |
|
|
|
|
|
Present
Value of Investment |
Rs.0.200 Million Rs.0.200 Million |
NIL |
OTHER
ASSETS
|
Furniture and Fixtures |
0.500 |
0.500 |
|
|
|
|
|
Cash in Hand |
0.219 |
0.145 |
|
|
|
|
|
Jewellery |
1.004 |
1.000 |
|
|
|
|
|
Plant and Machinery |
0.200 |
0.200 |
|
|
|
|
|
Other Assets if any |
0.743 |
-- |
|
|
|
|
|
Total
Value of Other Assets |
Rs.2.666 Millions |
Rs.1.845 Millions |
|
TOTAL
ASSETS |
RS.28.621 MILLIONS |
RS.29.395 MILLIONS |
|
NET
WORTH |
RS.28.621 MILLIONS |
RS.29.395 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT OF IMMOVABLE PROPERTY
PART – I (QUESTIONNAIRE)
GENERAL DETAILS
|
Purpose for
which valuation is made |
To assess the
fair market value of the property for Bank purposes. |
|
|
|
|
Date as on which
valuation is made |
18.03.2011 |
|
|
|
|
Name of the
owner/owners |
1. Mr. Nitin
Gupta s/o Mr. Om Parkash Gupta and 2. Mrs. Deepti
Gupta w/o Mr. Nitin Gupta. |
|
|
|
|
If the property
is under joint ownership, Co-ownership, share of each owner. Are the shares
undivided? |
In single name. |
|
|
|
|
Brief
description of the property |
The owners are having a Flat No. 5 at second floor without terrace roof rights with total covered area of = 1830 sq ft. in a 4 storied residential apartment building with a Basement i.e. Basement, G.F., F.F.’S.F. and T.F. constructed on two plots area of i.e. on Plot No. 5-A = 361 sq yds and Plot No. 5 = 385 sq yds with total area of two plots 5 and 5- A comes to = 746 sq yds = 6714 sq ft. i.e. total 8 flats on total plot area of 746 sq yds during year about 2006 as reported by the owner’s representative Mr. Yad Ram. |
|
|
|
|
Location,
Street, Ward No. Survey / Plot
No. of land |
The owners are having a Flat No. 5 at second floor without terrace roof rights with total covered area of = 1830 sq ft. in a 4 storied residential apartment building with a Basement i.e. Basement, G.F., F.F.’S.F. and T.F. constructed on two plots area of i.e. on Plot No. 5-A = 361 sq yds and Plot No. 5 = 385 sq yds with total area of two plots 5 and 5- A comes to = 746 sq yds = 6714 sq ft. i.e. total 8 flats on total plot area of 746 sq yds during year about 2006 as reported by the owner’s representative Mr. Yad Ram. |
|
|
|
|
Is the property
situated in residential Commercial/ Mixed Area/ Industrial Area |
Residential
Area. |
|
|
|
|
Classification of
locality-high class! Middle class/ poor class. |
High class. |
|
|
|
|
Proximity to
civic amenities, like schools, Hospitals, offices, markets. cinemas, etc... |
All available
nearby within 2-10 km distance. |
|
|
|
|
Means and proximity
to surface Communication by which the locality is Served. |
By surface road
transport. |
|
|
|
|
LAND |
|
|
Area of land
supported by documentary proof, shape, dimension and physical features. |
Covered area of Flat
No. 5 at S.F. is 1830 sq ft. (approx.) |
|
|
|
|
Roads, streets
or lanes on which the Land is abutting. North East South West |
Common open
space (below) and others property. Common open
space (below) and others property. Common open space
(below) and road. Remaining
portion of said property (i.e. Fat No.6) |
|
|
|
|
Is it freehold
or leasehold land? |
Freehold. |
|
|
|
|
Is there any
restrictive convenient in regard to use of land? If so, attach a copy of
covenant |
Residential
area. |
|
|
|
|
Dose the land
fall in an area included in any : Town Planning Plan of Government Or any
statutory body? |
Maintained by
MCD |
|
|
|
|
Has any
contribution been made towards development or is any demand for each
contribution still outstanding? |
Already made. |
|
|
|
|
IMPROVEMENT |
|
|
i) Is the
building owner-occupied /tenanted /both? |
The owners
occupied. |
|
ii) If partly
owner-occupied, specify portion and extent of area under Owner occupation. |
The owners
occupied. |
|
|
|
|
If a pump is installed,
who has to bear the cost of maintenance and operation- owner or tenant? |
By the owners. |
|
|
|
|
Who has to bear
the cost of electricity charges for lighting of common space like entrance
hall, stairs, passages, compound etc - Owner or tenant? |
By the owners. |
|
|
|
|
What is the
amount of property tax? Who is to bear
it? Give details with documentary proof. |
The owners will
pay the property tax if any due. |
|
|
|
|
SALES |
|
|
Give instances of
the sales of immovable property in the locality on a separate sheet,
indicating the name and address of the property, registration No., sale price
and area of land sold. |
No such instance
of sale is available in this case. |
|
|
|
|
If sale
instances are not available or not relied upon the basis of arriving at the
land rate. |
As enquired from
the Local Real Estate Agents and the
residents of the area. |
|
|
|
|
COST OF CONSTRUCTION: |
|
|
Year of
commencement of construction and year of completion |
Constructed
during year about 2006 as reported by the owner’s representative Mr. Yad Ram. |
|
|
|
|
What was the
method of construction by contract/ by employing Labour direct/ both? |
By Contract/
Builder. |
TECHNICAL DETAILS
|
No. of floors
and height of each floor |
Flat No. 5 at
Second Floor Ht- 10’-0” |
|
|
|
|
Year of
construction |
Constructed
during year about 2006 as reported by the owner’s representative Mr. Yad Ram. |
|
|
|
|
Estimated future
life |
61 years |
|
|
|
|
Type of
construction- Load bearing walls/ RCC frame/ steel frame |
Load bearing
walls with RCC structure. |
|
|
|
|
Type of
foundations |
Spread and raft
foundations. |
|
|
|
|
Super structure
above ground floor |
9” thick brick
walls in cement mortar. |
|
|
|
|
Partitions |
4 1/2” thick
(half) brick walls in cement mortar. |
|
|
|
|
Doors and
windows (Floor wise) |
Teak wood and
teak board doors and windows. |
|
|
|
|
Flooring (Floor
wise) |
Granite and Marble
flooring. |
|
|
|
|
Finishing (
Floor wise) |
Cement plaster,
P.O.P. with plastic paint and teak wood and teak board wooden almirahs in
rooms with modern fittings and wooden cupboards in the kitchen, glazed tiles
in kitchen and toilets. |
|
|
|
|
Roofing and
terracing. |
RCC Slab |
|
|
|
|
Special
architectural or decorative feature, if any |
Good Look |
|
|
|
|
Electrical
Installations |
|
|
I] Internal
Wiring – Surface or Conduit |
Concealed
conduit Wiring |
|
Class of
fittings |
Superior Quality.
|
|
|
|
|
Sanitary
installation- |
|
|
No. of water
closets No. of lavatory
basins No. of sinks. |
4 Nos. 4 Nos. 1 No. |
|
|
|
|
Class of
fittings, Superior coloured/ superior white/ ordinary. |
Superior
quality. |
|
|
|
|
Compound wall i) Height and
length. ii) Type of
construction |
All-round
compound wall about 6’ high with steel gates of the apartment. |
|
|
|
|
No. of lifts and
capacity. |
1. No. |
|
|
|
|
Over head tank-
- 1) Where located ii) Capacity iii) Type of
construction. |
At terrace of
third floor. 500 liters. P.V.C. |
|
|
|
|
Pumps - No. and
their horse-power |
1 No. of 1 H.P. |
|
|
|
|
Roads and
pavings within the compound approximate area and type of paving. |
Marble Stone
Road. |
|
|
|
|
Sewage disposal-
Whether connected to public sewers. If septic tanks provided, No. and
capacity. |
Connected with
MCD sewer. |
VALUATION
REPORT
Property No.: Flat No. 5, (which
falls at back side of Block-A), on Second Floor without terrace roof rights,
out of Plot No. 5 and 5-A, out of Khasra Nos. 128 and 129, situated at
Bhamashah Marg, Opposite Kirpal Bagh, in the area of Mauza/Village Rajpur
Chhawni, Delhi - 110009.
Owners: 1. Mr. Nitin Gupta
s/o Mr. Om Parkash Gupta and 2. Mrs. Deepti Gupta w/o Mr. Nitin Gupta.
On the instructions received from the Corporation Bank — Branch Arya
Samaj Road, Karol Bagh, New Delhi- 110005, the above stated property Flat No.
5, (which falls at back side of Block-A), on Second Floor without terrace roof
rights, out of Plot No. 5 and 5-A, out of Khasra Nos. 128 and 129, situated at
Bhamashah Marg, Opposite Kirpal Bagh, in the area of Mauza/ Village Rajpur
Chhawni, Delhi - 110009, in the presence of the owners representative Mr. Yad
Ram, to assess the present fair market value of the property for Bank purposes.
The fair market assessment of the property is based on the basis of
information, statements and documents furnished by the Bank, owners and
inspection made at site.
The owners are having a flat No. 5 at second floor without terrace roof
rights with total covered area of = 1830 sq ft. in a 4 storied residential
apartment building with a Basement i.e. Basement, G.F., F.F., S.F. and T.F.
constructed on two plots area of i.e. on Plot No. 5-A =361 sq yds and Plot No.
5= 385 sq yds with total area of two plots 5 and 5-A comes to = 746 sq yds 6714
sq ft. i.e. total 8 flats on total plot area of 746 sq yds during year about
2006 as reported by the owner’s representative Sh. Yad Ram. The details of the
materials and technical specifications used in the construction are described
at pages 5 and 6 of the valuation report. The accommodation of this flat No. 5
in second floor is 1 D/D, 4 B/rooms, 1 lobby, 1 kitchen, 4 toilets and 3
balconies with total covered area of the flat is 1830 sq ft. (Approx.)
Method adopted for
valuation: Since the property under consideration is a part of the built up
property by the constructing agency having different floors/ flats in a 4
storied built-up flats and owned by the different owners/parties at different
floors/flats. It is considered appropriate to adopt “composite plinth area rate
method” which includes the cost of construction and its share of land cost as
prevailing in the locality to arrive at its present fair market value of the
property. As per local enquiries made from the local Real Estate Agents and
residents of the area in this regard, it is revealed that the composite plinth
area of rate for similar type of flats ranges from Rs.12,000/- to Rs.12.500/-
per sq ft. of the covered area of the property of flat depending upon the
location and type of quality the work done. But I have taken Composite Plinth
Area Rate of Rs.12,300/- per sq ft of covered area of the flat belonging to the
owners for fair market assessment of the value.
The details of the
assessment of valuation of the property is given as under: Covered
Covered area of the Flat No. 5 at Second Floor = 1830 sq ft.
Composite PA Rate taken for covered area = Rs.12,300/- per sq ft.
Therefore cost of
the Flat No. 5 at Second Floor =1830 x 12,300.00 = Rs.22.509 Millions
Note:
From the above value the share of construction part as about Rs.1.830
Millions and the proportionate share in Land Value may be taken as Rs.20.679
Millions
Cost of
construction of the flat Rs.1000/- per sq ft. x 1830 sq ft = Rs.1.830 Millions
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE:
Company is an Indian freight forwarding company established in the year
2005 and was founded by experienced and motivated professionals in the freight
forwarding industry .The key persons have been associated for many years with
the international transport business and trading business.
Company is a New Delhi headquartered logistics service providers.
Company covers all major ports and airports of India; they operate their
own CFS at Nhava Sheva port and new Delhi lCD, Where they load their own boxes.
Company has been one of the leading logistics providers in the field of
fashion logistics, department store goods, event logistic and automotive
industry. Apart from top management the company’s affairs are being managed by
qualified and experienced staff employed in their respective division.
Company not only provides professional freight forwarding services, but
also customized services to meet customer’s needs. It provides single window
solutions to its customers and plays an effective role in their supply chain
management.
Company has global partnerships with reputed agents in all major
countries. It keeps on searching for competent overseas partners and is
committed to provide safe, reliable and efficient services to its customers and
overseas partners. These services also include the necessary storage facilities
and local collection and delivery services at either ends.
Company is a customer oriented, driven by its values, independent
company large enough to handle and generally propose the most suitable
logistics concept to fulfill all transport requirements and small enough to
enter into a personal and individual partnership.
FEATURES
1) Pan Country Network
2) One of the logistics providers in the field of fashion logistics,
department store goods, event logistic and automotive industry
3) Specializes in projects, air charters, sports logistics, event
logistics and customs made logistics platforms.
4) Provide inbound and outbound solutions for all air, ocean, and road
movements anywhere in the world.
SERVCE AT A GLANCE
• Sea, Land, Air and Multi-modal freight
• Chartering of flights and vessels
• GOH - Air and Sea
• Forwarding
• Clearance
• Warehousing
• Distribution
• Vendor and Purchase Order Management
• Track and Trace
• Buyers Consolidation
• MIS
• Project Management
• Site and Transport Analysis
Company also offers value additions like factory stuffing and regular
multi-vendor consolidation in its warehouses. Company offers its clients the
facilities of consolidation at container Freight Stations (CFS) / Inland
Container Depot (lCD) and transportation to gateway ports.
CUSTOMS CLEARANCE
They are the one-stop-shop for all its clients customs needs. In dealing
with Customs, company regularly undertakes the responsibility for numerous
processes like cargo- handling, customs documents appraisement, tackling
regulations related to customs procedures for inbound and outbound shipments,
supervision of GOH and factory stuffing.
Company has a team of highly trained professionals who are completely
abreast with customs regulations and schedules. Company’s years of experience
ensure that they are up-to-speed on every amendment, every change and every
development in the law of the land and in its administrative regulations.
The company team is well versed in determining the classification of
goods and its dutiable value. The equity in the market gone a long way to
resolve countless customs-related issues for their customers.
Company has excellent working relations with a number of government
bodies such as Export Inspection Agency, The Textile Committee and Chamber of
Commerce etc. all this only reinforces its position as the Relationship
Specialists.
Company offers complete warehousing solutions right from ensuring that
there is adequate space at any given time, to cargo pick-up and delivery
(anywhere in India), they ensure that it is one seamless process for the
client. Each solution is designed with the highest possible cost efficiencies,
in order to lower the clients overheads. For instance, bonded warehouses are
arranged for inbound shipments, which reduce the clients risk. To add to its
cost-efficient solutions, each warehousing process is scientifically executed,
ensuring proper handling. All products received are palletized (which includes
tagging, labeling, kitting etc).
SEA FREIGHT
INBOUND
Company and its overseas partners have contracts on committed volumes with
leading shipping lines which enable it to offer competitive rates from all over
the world. It is able to offer LCL (less than a container load) service also by
keeping in view the optimum costs for the consignees.
OUTBOUND
Company being the follower of relationship management, has developed
cordial relationship on both the ends i.e. shipping lines, consolidators and
the customers. It has competitive freight rates with the reputed carriers based
on the volumes and long term relations with them. It does both FCL and LCL
movements from almost all the ports and inland container depots in India.
Though most of the activities are outsourced, it closely monitors the
activities in order to give the quality services to all its clients. Ii
believes in quality hence it takes utmost care in selecting the partners in its
supply chain to make it perfect collaborative supply chain.
AIR FREIGHT
• Competitive Pricing.
• Timely and co-coordinated pick ups for ex works shipments.
• Pre alerts and advance documentation directly from origin to final
customers.
• Prompt handling of documents on shipment for both inbound and outbound
• Good relationship with major airlines, IATA agents and consolidators.
This is a matter of fact that any organization desiring to achieve
ambitious objectives, the same cannot be realized without the help of Bank
Finance, Keeping in view, the quantum of work orders and the capabilities of
executing the same, in terms of quality and adherence to the time schedule, The
esteemed bank to sanction Need based Working Capital of Rs.5.000 Million in the
form of Overdraft against property and LC limit of Rs.10.000 Millions
The company proposes to offer following properties to create equitable
mortgaged in favor of Bank.
|
Property Name |
Value (Rs. In Millions) |
|
|
|
|
Flat No-5 Prop No.5 and 5-A Bhamashah Marg Opposite Kirpal Bagh, Delhi |
Rs.22.000
Millions |
|
|
|
|
Facility |
Purpose |
Amount (Rs. In millions) |
|
|
|
|
|
Overdraft
Against Property |
Working Capital |
5.000 |
|
Letter of Credit
|
Performance |
10.000 |
|
|
|
|
|
Total |
|
150000 |
------------------------------------------------------------------------------------------------------------------------------
NOTE:
The registered office of the company has been shifted from Off. No. 5,
Basement 137 Sant Nagar, New Delhi – 110065, India to the present address
w.e.f. 15.08.2007.
------------------------------------------------------------------------------------------------------------------------------
BUSINESS:
The year 2009/2010 was the Sixth year of operations of the
company. The company had improved business during the last year with increase
in turnover and as per the current year business it expects to do better than
the previous year.
FINANCIAL RESULTS
The results of the year 2009-10 reflect increase in turnover
to Rs.132.600 Millions in comparison to Rs.93.800 Millions as of previous year
2008-2009. The net profits of the company have increase to Rs.2.847 Millions in
2009-10 as against Rs.1.885 Millions in 2008-09. Company is expecting further
growth viewing the current year market response.
------------------------------------------------------------------------------------------------------------------------------
FORM 8:
|
Corporate
identity number of the company |
U63012DL2005PTC131872 |
|
Name of the
company |
OAK SHIPPING
SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-30, Ist Floor,
Acharya Niketan, Mayur Vihar Phase - I, Delhi – 110091, India |
|
This form is for |
Book Debts Movable Property Floating charge |
|
Type of charge |
Creation of charge |
|
Particular of
charge holder |
HDFC Bank HDFC Bank Housesenapati Marg, Lower Parel (West), Mumbai – 400013,
Maharashtra, India |
|
Nature of
instrument creating charge |
Letter of Hypothecation. |
|
Date of
instrument Creating the charge |
14.02.2011 |
|
Amount secured by
the charge |
Rs.1.500 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Interest at the rate
as may be communicated by the Bank from time to time. Terms of
repayment: On Demand. Margin: Company shall at
all times during the continuance of this security maintain the said debts of a
sufficient amount to provide the margin of security as may from time to time
advised by the Bank. Extent and
Operation of the charge: Hypothecation by
way of First Charge on Company's Stocks and Book Debts, etc., to secure as a
continuing security as mentioned in Column No.15 below for the repayment of
Rs.1.500 Millions, together with interest, costs, charges, expenses and other
moneys due and payable by the Company to the Bank |
|
Particulars of
the property charged |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished
goods, and other merchandise whatsoever being movable properties, now stores
at or all the debts, that is, all the book debts, outstandings, monies
receivables, claims, bills, invoice
documents, contracts, guarantees, and rights which are now due. |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Office Equipments
· Furniture and Fettlings
· Computers
· Software
· 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.44.93 |
|
|
1 |
Rs.72.43 |
|
Euro |
1 |
Rs.62.63 |
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.