0BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ACG ASSOCIATED
CAPSULES PRIVATE LIMITED |
Principal Name 1 |
Mr. Ajit Singh |
|
Status |
Good |
Principal Name 2 |
Mr. Jasjit SIngh |
|
|
|
Registration # |
11-12061 |
|
Street Address |
131, Kandivli Industrial Estate, Kandivli
(West), Mumbai- 400067, |
||
|
Established Date |
13.07.1961 |
SIC Code |
-- |
|
Telephone# |
91-22-28682010 (9
Lines)/ 28683268/ 30700118/19 |
Business Style 1 |
Manufacture |
|
Fax # |
91-22-28686152/28682514/28684515/
28603164 |
Business Style 2 |
Seller |
|
Homepage |
Product Name 1 |
Paper Laminated with
poly/Plain /Printed |
|
|
# of employees |
1800
(Approximately) |
Product Name 2 |
Hard Gelatin Capsule
Shell I.P |
|
Paid up capital |
Rs. 78,61,000/-
|
Product Name 3 |
|
|
Shareholders |
Bodies Corporate (51.00%)Director or relatives of director (47.42 %)
others (1.58%) |
Banking |
ICICI Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
50 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Wholly
Owned Subsidiary |
Netherland |
ACG Holding BV Netherland |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2905,551,000 |
Current Liabilities |
1059,449,000 |
|
Inventories |
218,162,000 |
Long-term Liabilities |
782,459,000 |
|
Fixed Assets |
644,306,000 |
Other Liabilities |
33,474,000 |
|
Deferred Assets |
0.000 |
Total Liabilities |
1875,382,000 |
|
Invest& other Assets |
1851,205,000 |
Retained Earnings |
3735,981,000 |
|
Total Assets |
5619,224,000 |
Net Worth |
3743,842,000 |
|
|
|
Total Liab. & Equity |
5619,224,000 |
|
Total Assets (Previous Year) |
4397,759,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Turnover Gross |
3712,421,000 |
Net Profit |
758,877,000 |
|
Sales(Previous yr) |
3292,099,000 |
Net Profit(Prev.yr) |
578,118,000 |
MIRA
INFORM REPORT
|
Report Date : |
1.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ACG ASSOCIATED
CAPSULES PRIVATE LIMITED (w.e.f. 24.06.1985) |
|
|
|
|
Formerly Known
As : |
ASSOCIATED
CAPSULES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
131, Kandivli
Industrial Estate, Kandivli (West), Mumbai- 400067, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.07.1961 |
|
|
|
|
Com. Reg. No.: |
11-12061 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.861 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24239MH1961PTC012061 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA18885G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4769K |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and
Sellers of hard gelatin capsule shells I.P coating on various substracts and
lamination printed / unprinted films / sheets of PVC, PP and other materials. |
|
|
|
|
No. of Employees
: |
1800
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
|
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 15000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and reputed company having fine track. Financial position of the
company appears 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 : |
131, Kandivli
Industrial Estate, Kandivli (West), Mumbai- 400067, |
|
Tel. No.: |
91-22-28682010 (9
Lines)/ 28683268/ 30700118/19/30700105 |
|
Fax No.: |
91-22-28686152/28682514/28684515/
28603164 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4933 sq.mtr
(Owned) |
|
|
|
|
Corporate Office : |
10th
Floor, Dalamal House, Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-2287
2557/58/59/2288 0461/2/3 /22856666 |
|
Fax No.: |
91-22-22872560 |
|
E-Mail : |
|
|
|
|
|
Corporate Headquarters : |
ACG Worldwide Dalamal House,
Nariman Point, Mumbai-400021, |
|
Tel. No.: |
91-22-22872557/
58/ 59/ 22880461/ 2/ 3 |
|
Fax No.: |
91-22-22872560 |
|
E-Mail : |
|
|
|
|
|
Corporate HR : |
Scitech Centre7,
Prabhat Nagar, Patel Estate, Jogeshwari (West), Mumbai-400102, |
|
Tel. No.: |
91-22-26789642/
43-45 |
|
|
|
|
Factory 2 : |
Village Shindewadi,
Shirwal, Taluka Khandala, District Satara, |
|
|
|
|
Factory 3: |
Village Aswe,
Ashagadh, |
|
|
|
|
Factory 4: |
Gat 222, Village
Mahalunge Talegaon, |
DIRECTORS
AS ON 29.06.2010
|
Name : |
Mr. Ajit Singh |
||||||
|
Designation : |
Executive
Chairman cum Managing Director |
||||||
|
Address : |
1-A, Brighton, |
||||||
|
Date of Birth/Age : |
20.11.1941 |
||||||
|
Qualification : |
M.A. (CANTAB) and Post Graduation Work at the Harvvard |
||||||
|
Date of Appointment : |
15.02.1964 |
||||||
|
DIN No : |
00915347 |
||||||
|
|
|
||||||
|
Name : |
Mr. Jasjit Singh |
||||||
|
Designation : |
Managing Director |
||||||
|
Address : |
2-B, Swapnalok, L J Marg, |
||||||
|
Date of Birth/Age : |
03.04.1943 |
||||||
|
Qualification : |
BE, Mechanical |
||||||
|
Date of Appointment : |
17.08.1964 |
||||||
|
DIN No : |
00901470 |
||||||
|
|
|
||||||
|
Name : |
Mr. Karan Singh |
||||||
|
Designation : |
Director |
||||||
|
Address : |
2-B, Swapnalok, L J Marg, |
||||||
|
Date of Birth/Age : |
23.07.1979 |
||||||
|
Date of Appointment : |
29.11.2005 |
||||||
|
DIN No : |
00901342 |
||||||
|
|
|
||||||
|
Name : |
Mr. Jagmohanlal Chopra |
||||||
|
Designation : |
Director Finance |
||||||
|
Address : |
4th Floor, 42, Tower B, Jollymaker, A 95-97, |
||||||
|
Date of Birth/Age : |
11.11.1933 |
||||||
|
Date of Appointment : |
29.09.2006 |
||||||
|
DIN No : |
00901556 |
||||||
|
Directorship in other Companies |
|
KEY EXECUTIVES
|
Name : |
Mr. Navin C.
Asthana |
|
Designation : |
Senior Vice President HR (Corporate) and Company Secretary |
|
Address : |
B/52/206, Siddharth Nagar, Goregaon (West), Mumbai-400104, |
|
Date of Birth/Age : |
27.04.1956 |
|
Qualification : |
B.Com, CA, LLB, CS, ICWA |
|
Experience : |
31 Years |
|
Date of Appointment : |
01.05.1999 |
|
Last Employment: |
German Remedies Limited |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.06.2010
|
Names of Shareholders |
No. of Shares |
|
Jasjit Singh and
Kavita Singh |
244333 |
|
Vijaya K. Kuverba |
18000 |
|
Jasjit Singh and Kavita
Singh (Jasjit Singh HUF) |
12765 |
|
Orind Estate
Private Limited |
580520 |
|
Kavita Singh and
Jasjit Singh |
3780 |
|
Nandini Singh, Jasjit Singh and Kavita Singh |
1980 |
|
Jasjit Singh and
Ajit Singh (Trustees of Singh Family Trust) |
180 |
|
Jasjit Singh and
Ajit Singh (Karta of Sardar Daljit Singh HUF) |
5580 |
|
Jasjit Singh and
Ajit Singh (Trustee of MNT will Trust) |
180 |
|
Ajit Singh &
Jasjit Singh |
266998 |
|
Priya Singh,
Jasjit and Kavita Singh |
1980 |
|
Karan Singh Jasjit
Singh and Kavita Singh |
1980 |
|
Total (A) |
1138276 |
|
Names of Shareholders 12% Preference Shares |
No. of Shares |
|
Bulk Byers |
21701 |
AS ON 29.06.2009
|
Category |
Percentage |
|
Bodies corporate |
51.00 |
|
Directors or relatives of Directors |
47.42 |
|
Other |
1.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and
Sellers of hard gelatin capsule shells I.P coating on various substracts and lamination
printed / unprinted films / sheets of PVC, PP and other materials. |
|||||||||||||||||
|
|
|
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
1800
(Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
·
Standard
Chartered Bank (acting as Lead Bank for itself and on behalf of BOI
&SBI),90, M. G. Road, Fort, Mumbai – 400 001, India ·
Bank
of India ·
State
Bank of India, Virani Industrial Estate, Goregaon (East), Mumbai – 400 050,
India ·
ICICI
Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda – 390 015,
Gujarat, India ·
ANZ
Grindlays Bank Limited, 90, M. G. Road, Mumbai – 400 001, Maharashtra, India ·
ABN
Amro Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
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Facilities : |
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
A. J. Shah and
Company Chartered
Accountants |
|
Address : |
|
|
Tel. No.: |
91-22-22650834/ 22671269 |
|
Fax No.: |
91-22-22657122 |
|
PAN No : |
AAAFA3818L |
|
|
|
|
Wholly Owned
Subsidiaries: |
· ACG Holding BV Netherland ·
ACG Europe Limited |
|
|
·
|
|
Step Subsidiary : |
·
LUKAPS d.o.o., Croatia |
|
|
·
|
|
Jointly Owned
Subsidiary : |
·
ACG Hongkong Limited |
|
|
·
|
|
Companies/Firms
over which the Directors have significant influence or control : |
Companies ·
ACG Arts and Properties Private Limited ·
ACG Pharmapack Private Limited ·
ACG Ajas Components Private Limited ·
ACG Inspection Systems Private Limited. ·
Custom Capsules Private Limited ·
Packshield
India Private Limited ·
ACG Pampac Machines Private Limited ·
PAM Glatt Pharma Technologies Private Limited ·
ACG Pampac Machine Private Limited ·
Pam Pharmaceuticals and Allied Machinery Company
Private Limited ·
Pam Inteck Machines Private Limited ·
ACG Korsch Compression Technologies Private
Limited ·
Nepean Holding Private Limited ·
Scitech Centre Foreign Companies ·
PAM USA UCLLC ·
PT. Universal Capsules Indonesia INC ·
Universal Capsules LLC ·
Universal Capsules Philippines Inc ·
Amiricaps USA ·
Symtech International Limited, Dubai ·
First Ventures Limited, Dubai Proprietor AS ·
Transworld Investments Limited, Dubai Proprietor
JS Firms ·
Amil Enterprises ·
Aries Components Manufacturer and Company ·
Bulk Buyers ·
Capsulabs ·
Centercops ·
Extra Hands ·
Pharmagents ·
Reflection HUF ·
Jasjit Singh (HUF) ·
Sardar Daljit Singh (HUF) Trusts ·
CNS Trust ·
MNT Will Trust ·
Singh Family Trust |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2400000 |
Equity Shares |
Rs.5/- each |
Rs12.000 Millions |
|
30000 |
12%
Non-Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.3.000 Millions
|
|
|
Total |
|
Rs.15.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1138276 |
Equity Shares |
Rs 5/- each |
Rs 5.691 Millions |
|
|
Of the above: ·
42820
(Previous year 42820) shares have been allotted as fully paid up pursuant to
a contract without payment being received in cash ·
149342
(Previous year 149342) shares have been allotted. As fully paid up Bonus
shares by capitalization of Reserves ·
802144
(Previous year 802144) shares have been allotted as fully paid up pursuant to
the Schemes of Arrangements approved by ht eB’ble high court. |
|
|
|
21701 |
12%
Non-Cumulative Redeemable Preference Shares |
Rs. 100/- each |
Rs. 2.170 Millions |
|
|
Of the Above: 21701 (Previous
year 21701) shares have been allotted as fully paid up pursuant to the
Schemes of Arrangements approved by the H’ble High Court. |
|
|
|
|
Total |
|
Rs. 7.861 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 |
7.861 |
7.861 |
7.861 |
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
2] Reserves & Surplus |
3735.981 |
2978.495 |
2401.768 |
|
2] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
NETWORTH
|
3743.842 |
2986.356 |
2409.629 |
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
143.642 |
176.416 |
224.549 |
|
2] Unsecured Loans |
638.817 |
415.711 |
343.766 |
TOTAL BORROWING
|
782.459 |
592.127 |
568.315 |
|
DEFERRED TAX
LIABILITIES |
33.474 |
26.193 |
36.898 |
|
|
|
|
|
TOTAL
|
4559.775 |
3604.676 |
3014.842 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
644.306 |
648.868 |
700.539 |
|
Capital work-in-progress |
86.484 |
11.181 |
2.054 |
|
|
|
|
|
|
INVESTMENTS |
1762.796 |
1231.627 |
937.235 |
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
218.162 |
221.805 |
221.383 |
|
Sundry Debtors |
911.792 |
856.474 |
774.942 |
|
Cash & Bank Balances |
77.745 |
43.942 |
17.160 |
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
Loans & Advances |
1916.014 |
1380.974 |
1128.378 |
|
Total Current
Assets |
3123.713 |
2503.195 |
2141.863 |
|
Less: CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
Sundry Creditor |
165.240 |
137.457 |
180.317 |
|
Current Liabilities |
519.118 |
303.486 |
345.034 |
Provisions
|
375.091 |
352.140 |
246.229 |
Total Current Liabilities
|
1059.449 |
793.083
|
771.580 |
Net Current Assets
|
2064.264 |
1710.112 |
1370.283 |
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
1.925 |
2.888 |
4.731 |
|
|
|
|
|
TOTAL
|
4559.775 |
3604.676 |
3014.842 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
TURNOVER GROSS |
3712.421 |
3292.099 |
3043.213 |
|
|
|
|
|
|
|
|
|
|
Net Profit
Before Tax and Exceptional Items |
1101.159 |
651.938 |
602.056 |
|
|
|
|
|
|
|
|
|
Add |
Profit on Sale of Flexible Packaging Business |
0.000 |
220.199 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Net Profit
Before Tax and After Exceptional Items |
1101.159 |
872.137 |
602.056 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
342.282 |
294.019 |
202.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
758.877 |
578.118 |
399.911 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1314.078 |
885.959 |
636.047 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
150.000 |
150.000 |
150.000 |
|
|
|
Dividend |
0.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1929.955 |
1314.077 |
885.958 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
1522.76 |
1274.12 |
1.026.46 |
|
|
|
Interest Income |
2.41 |
0.15 |
0.000 |
|
|
|
Other Income-Sale of Trading Material |
0.000 |
0.32 |
0.000 |
|
|
TOTAL EARNINGS |
1525.17 |
1274.59 |
1026.46 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
666.69 |
507.89 |
351.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
20.44
|
17.56 |
13.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.22
|
27.66 |
21.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.29 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.49
|
0.46 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.94
|
3.15 |
2.77 |
LOCAL AGENCY FURTHER INFORMATION
Demerger:
During the year, the Chakan Unit of Flexible Packaging Business of the
company has been sold by way of slump sale w.e.f. 4th October 2008 to
Alcan India Private Limited
Performance:
The operation of company during the year was encouraging and reflected
an improvement over the previous year through better volumes and price
realization.
Contingent/Disputed
liabilities not provided for :
(A)Contingent
Liabilities :
·
Letter of undertaking to customs towards export
obligation against advance license and EPCG Rs.45.238 Million (excluding
interest) (Previous year Rs.38.709 Million).
·
Bank guarantee issued by bank on behalf of company
Rs.35.978 Millions (previous Year Rs.25.607 Millions)
·
L/C issued to vendor against import obligation
Rs.10.556 Millions (Previous year Rs.17.091 Millions).
·
Guarantees/Counter Guarantees provided by the
company on behalf of others Rs.264.620 Millions as increased by the applicable
interest accrued thereon, commission and all cost, charges, expenses and other
dues as applicable. (Previous year Rs.290.460 Million)
·
Outstanding Foreign Exchange forward contract is
Rs.246.895 Millions (Previous Year Rs.269.710).
(B) Disputed Income Tax liability in respect of which the Company/Income
Tax department has preferred an appeal to higher authorities amounting to
Rs.27.429 (Previous year Rs.95.835) which has bot been provided for.
Bankers Charges
Report as per Registry
|
Name of the company |
ASSOCIATED
CAPSULES PRIVATE LIMITED |
|
Presented By |
ASSOCIATED
CAPSULES PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Deed of
hypothecation dated the 12th day of September, 1994 executed by Associated
Capsules Limited (therein an dhereinafter referred to as “the company”) in
favour of the Industrial Credit and Investment Corporation of India Limited
(therein and hereinafter referred to as “ICICI”) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 75.000
Millions (therein and hereinafter referred to as “the Loan”) |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The whole of the
moveable property of the company situate at Kandivali, Mumbai in the State of
Maharashtra including the company’s moveable plant and machinery, machinery
spares, tools and accessories and other moveables both present and future
(save and except book debts) (therein and hereinafter referred to as “the
said goods”). |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
In consideration
of ICICI having lent and advanced/agreed to lend and advance, to the company the
loan, agreement and declaration by the company, inter alia, as follows: 1. Covenant by
the company to repay the Loan and pay interest and all other monies in the
manner set out in the Loan agreement between the company and ICICI and to
comply with the terms and conditions of the said Loan Agreement 2. The said Goods
were thereby hypothecated inter alia to ICICI as and by way of First charge
as security for and be charged with the repayment of the Laon with interest
thereon, additional interest, commitment charge, liquidated damages, premium
on prepayment or on redemption, costs, charges and other expenses payable by
the company to ICICI in respect thereof (i) provided that the charge of ICICI
on the said Goods will be subject to the charge or charges created and/or to
be created by the Company in favour of its bankers on its stocks of raw
materials, finished goods, consumables stores and book debts and such other
movebales as may be specifically
permitted by ICICI in writing to secure borrowings for working capital
requirements. (i) On specific
items of machinery as permitted by ICICI purchased and/or to be purchased by
the company under the deferred payment facilities granted to the company by
NZ Grindlays Bank/Bank of Tokyo to the extent of Rs.58.900 millions and under
the Equipment Finance facilities granted to the borrower by Kotak Mahindra
Finance Limited to the extent of USD 700,000 equivalent to about Rs.22.100
millions and by industrial Development Bank of India to the extent of
Rs.52.500 Millions. 3. The company to
keep the said Goods in marketable and goods condition and also insured as
provided therein. 4. Power of
Entry, power to take charge and/or possession of sieze, recover, receive,
appoint receivers of and remove and/or sell by public auction or private
contract, dispatch for realisation or otherwise dispose of or deal with all
or any part of the said goods etc as provided therein. |
|
5) Name and Address and description of the person entitled to the charge. |
The industrial
Credit and Investment Corporation of India Limited, 163, Backbay Reclamation,
Mumbai – 400 020 |
|
6) Date and brief description of instrument modifying the charge |
No instrument was
executed but on the 24th day of February, 1997 a joint mortgage was
created by the company jointly in favour of ICIC. ANZ Grindlays Bnak (ANZ
GB), Bank of Tokyo and Mitsubishi Limited (BOTM), Bank of India (BOI) and
State Bank of India( SBI) as Trustee for NCDs of Rs.8.000 millions
hereinafter referred to as “Lenders”) by deposit of title deeds with ICICI,
ICICI during for itself and as agent of ANZGB, BOTM, BOI and SBI as Trustees
in respect of the company’s immoveable properties situate at Kandivali,
Mumbai and village Shindewadi, District Satara in the State of Maharashtra in
order to create a security thereon as and by way of a Joint mortgage by
deposit of title deeds pursuant to the Resolution passed by the Board of
Directors of the company on the 23rd day of February, 1997. |
|
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 Loan together
with interest, compound interest, further interest, additional interest,
commitment charges, liquidated damages, premia on prepayment or on
redemption, Remuneration payable to the Trustees, costs, charges and other
expenses payable by the company to the Lead Institution in respect thereof
secured under the above mentioned Deed of Hypothecation is also now secured
by the said joint mortgage by deposit of title deeds in respect of the
company’s immovable properties situate at Kandivali, Mumbai and Village
Shindewadi, Dsitrict Satara in the State of Maharashtra together with all
buildings and structures thereon and all plant and machinery attached to the
earth or permanently fastened to anything attached to the earth. |
Form 8
|
Corporate identity number of the company |
U24239MH1961PTC012061 |
|
Name of the company |
ACG ASSOCIATED CAPSULES PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
131, Kandivli Industrial Estate, Mumbai –
400067, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge Identification(ID) number of the
charge to be modified |
90229198 |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Standard Chartered Bank(Acting as Lead Bank
for itself and on behalf of BOI and SBI), 90, M.G. Road, Fort, Mumbai –
400001, Maharashtra, India, Email Id: nilesh.babar@sc.com |
|
Nature of instrument creating charge |
Second Supplemental Joint Deed of Hypothecation. |
|
Date of instrument Creating the charge |
15.07.2010 |
|
Amount secured by the charge |
Rs.200.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest Credit Facilities. Interest/commission –As agreed by and with
the bank from time to time. Terms
of repayment As agreed by and with the bank from time
to time. Margin As agreed by and with the bank from time
to time. Extent
and operation of the charge The Banks are having first pari passu
charge on the security given by the company. Other
The sharing amount of charge between three
banks are as under: 1) Standard Chartered Bank (Lead
Bank)-Rs.163.000 Million 2)
Bank of India –Rs.10.000 Million 3)
State Bank of India-Rs.27.000 Million Total Rs.200.000 Million |
|
Short particulars of the property charged
(Including location of the property) |
First
pari passu charge on whole of the current assets of the company namely
stocks of raw materials, stock in process, semi finished and finished goods,
stores and spares not relating to plant and machinery. (Consumable stores and Spares),bills
receivables and book debts and all other movables both present and future
lying/stored at kandivali, Mumbai in the state of Maharashtra or in cases or
which are now lying or stored in or about or shall hereinafter from time to
time during the continuance of the security of these presents be brought into
or upon or be stored or be in or about of the borrowers. Factories, premises and godowns situated
at the borrowers factory premises or where ever also the same may be or be
held by any party to the order or disposition of the borrower or in the
course of transit or on high seas or on order or delivery howsoever and
wheresoever in the possession of the borrower either by way of substitution
of addition. |
|
Date of instrument modifying the charge |
22.04.1999 |
|
Particulars of the present modification |
By present modification, the exisiting charge
of Rs.300.000 Millions is now reduced to Rs.200.00 Million. Now the sharing
amount of charge between three banks are as under :A)Standard Chartered Bank
Rs.163.000 Millions, B) Bank of India Rs. Rs.10.000 Million C) State Bank of
India - Rs.27.000 Million. |
Fixed Assets:
Ø
Land
Ø
Buildings
Ø
Plant
and Machinery
Ø
Vehicles
Ø
Furniture
/ Fixtures
Ø
Speed
Boat
Ø
Office
Equipments.
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.44.79 |
|
|
1 |
Rs.73.19 |
|
Euro |
1 |
Rs.63.59 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
|
|
PAID-UP CAPITAL |
1~10 |
|
|
OPERATING SCALE |
1~10 |
|
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
|
|
--PROFITABILIRY |
1~10 |
|
|
--LIQUIDITY |
1~10 |
|
|
--LEVERAGE |
1~10 |
|
|
--RESERVES |
1~10 |
|
|
--CREDIT LINES |
1~10 |
|
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
|
|
--LITIGATION |
YES/NO |
|
|
--OTHER ADVERSE INFORMATION |
YES/NO |
|
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
|
|
--EXPORT ACTIVITIES |
YES/NO |
|
|
--AFFILIATION |
YES/NO |
|
|
--LISTED |
YES/NO |
|
|
--OTHER MERIT FACTORS |
YES/NO |
|
|
TOTAL |
|
|
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.