MIRA
INFORM REPORT
|
Report Date : |
17.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
HONEST DERIVATIVES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-43, 2nd Floor, Sumel Business Park, Near New Cloth
Market, Outside Raipur Gate, Ahmedabad-380002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.07.2007 |
|
|
|
|
Com. Reg. No.: |
04-051271 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93000GJ2007PTC051271 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMH02797E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH0264L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Modified Starch, Liquid Glucose, Corn Oil etc |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Amit |
|
Designation : |
Account Executive |
|
Contact No.: |
91-2580-276341 |
|
Date : |
16.11.2011 |
LOCATIONS
|
Registered Office : |
E-43, 2nd Floor, Sumel Business Park, Near New Cloth
Market, Outside Raipur Gate, Ahmedabad-380002, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
91-79-26852981 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Administrative Office : |
10/868, Vardhaman Chowk, District Kolhapur, Inchalkaranji-416115,
Maharashtra, India |
|
Tel. No.: |
91-230-2431361 / 2437593 |
|
Fax No.: |
91-230-2422184 |
|
|
|
|
Corporate Office : |
7, Century Tower, Behind Grand Bhagawati Hotel, Bodakdev,
Ahmedabad-380054, Gujarat, India |
|
Tel. No.: |
91-79-40029810 |
|
Fax No.: |
91-79-26852981 |
|
|
|
|
Factory : |
Maldabhadi, Jamner, Jalgaon, Maharashtra, India |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Laxmichand V Vaghela |
|
Designation : |
Director |
|
Address : |
13, Bhogilal Park, Near Rajeshvari Society, R. V. Desai Road,
Vadodara-390001, Gujarat, India |
|
Date of Birth/Age : |
01.05.1952 |
|
Date of Appointment : |
05.07.2007 |
|
Date of Cessation : |
05.01.2011 |
|
DIN No.: |
00030104 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U36941GJ1991PTC034675 |
VAGHELA
METALS PRIVATE LIMITED |
Director |
07-05-91 |
07-05-91 |
- |
Active |
NO |
|
2 |
U27209GJ1999PLC036414 |
HONEST
ENTERPRISE LIMITED |
Managing
director |
01-04-10 |
12-08-99 |
- |
Active |
NO |
|
3 |
U93000GJ2007PTC051271 |
HONEST
DERIVATIVES PRIVATE LIMITED |
Director |
05-07-07 |
05-07-07 |
05-01-11 |
Active |
NO |
|
Name : |
Mr. Hitesh Laxmichand Vaghela |
|
Designation : |
Director |
|
Address : |
13, Shakti Krupa Society, R. V. Desai Road, Vadodara-390001, Gujarat,
India |
|
Date of Birth/Age : |
13.09.1977 |
|
Date of Cessation : |
05.01.2011 |
|
Date of Appointment : |
12.01.2010 |
|
DIN No.: |
00030133 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U36941GJ1991PTC034675 |
VAGHELA
METALS PRIVATE LIMITED |
Director |
16-11-97 |
16-11-97 |
- |
Active |
NO |
|
2 |
U27209GJ1999PLC036414 |
HONEST
ENTERPRISE LIMITED |
Whole-time
director |
01-04-10 |
12-08-99 |
- |
Active |
NO |
|
3 |
U93000GJ2007PTC051271 |
HONEST
DERIVATIVES PRIVATE LIMITED |
Director |
30-09-10 |
05-07-07 |
05-01-11 |
Active |
NO |
|
Name : |
Ms. Nidhi Rajaratan Agarwal |
|
Designation : |
Director |
|
Address : |
Gokul Geet Gopal Apartment, Opposite Laxmi Processors, Ichalkaranji-416115,
Maharashtra, India |
|
Date of Birth/Age : |
31.12.1968 |
|
Date of Appointment : |
22.01.2010 |
|
DIN No.: |
00590971 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U52110MH2006PTC160800 |
SHRI
TRADCO INDIA PRIVATE LIMITED |
Director |
28-03-06 |
28-03-06 |
Active |
NO |
|
2 |
U93000GJ2007PTC051271 |
HONEST
DERIVATIVES PRIVATE LIMITED |
Director |
30-09-10 |
22-01-10 |
Active |
NO |
|
3 |
U15400MH2010PTC203222 |
SHRI
TRADCO STARCH PRIVATE LIMITED |
Director |
14-05-10 |
14-05-10 |
Active |
NO |
|
4 |
U15400MH2010PTC203313 |
SHRI
TRADCO DEESAN PRIVATE LIMITED |
Director |
17-05-10 |
17-05-10 |
Active |
NO |
|
Name : |
Mr. Rajratan Babulal Agarwal |
|
Designation : |
Gokul Geet Gopal Apartment, Opposite Laxmi Processors,
Ichalkaranji-416115, Maharashtra, India |
|
Address : |
Director |
|
Date of Birth/Age : |
31.10.1967 |
|
Date of Appointment : |
22.01.2010 |
|
DIN No.: |
00590875 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U52110MH2006PTC160800 |
SHRI
TRADCO INDIA PRIVATE LIMITED |
Director |
28-03-06 |
28-03-06 |
Active |
NO |
|
2 |
U93000GJ2007PTC051271 |
HONEST
DERIVATIVES PRIVATE LIMITED |
Director |
30-09-10 |
22-01-10 |
Active |
NO |
|
3 |
U15400MH2010PTC203222 |
SHRI
TRADCO STARCH PRIVATE LIMITED |
Director |
14-05-10 |
14-05-10 |
Active |
NO |
|
4 |
U15400MH2010PTC203313 |
SHRI
TRADCO DEESAN PRIVATE LIMITED |
Director |
17-05-10 |
17-05-10 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Amit |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Hitesh Vaghela |
2000 |
|
Laxmichand V Vaghela |
1750 |
|
Hitesh Vaghela (HUF) |
35750 |
|
Vaghela Metals Private Limited, India
|
430500 |
|
Shri Tradco India Private Limited, India |
468000 |
|
Rajratan Agarwal |
1000 |
|
Nidhi Rajratan Agarwal |
1000 |
|
Total |
940000 |
AS ON 30.09.2010
|
Names of Preference Shareholders |
No. of Shares |
|
Vaghela Metals Private Limited, India
|
50000 |
|
Shri Tradco India Private Limited, India |
50000 |
|
Total |
100000 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
95.58 |
|
Directors or relatives of Directors |
4.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Modified Starch, Liquid Glucose, Corn Oil etc |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Maize Crushing |
Tone |
54250 |
-- |
|
|
|
|
|
|
PRODUCTION |
|
|
|
|
Germ |
|
|
204874 |
|
Gilson |
|
|
1340960 |
|
Liquid Glucose |
|
|
2088600 |
|
Native Starch |
|
|
20428760 |
|
Dextro Monohydrate |
|
|
1730800 |
|
Hydrol |
|
|
366345 |
|
MSP |
|
|
1690000 |
|
DAH |
|
|
280000 |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM’s |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
400 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, MID Corporate Group,
Industrial Finance Branch, 1st Floor, Neptune Tower Annexe, Ashram
Road, Ahmedabad-380009, Gujarat, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Patel – S. V. Patel Chartered Accountant |
|
Address : |
5-B, Vardan Exclusive, Near Vimal House, Stadium Road, Navrangpura,
Vadodara-380009, Gujarat, India |
|
PAN No.: |
AAXFS2204B |
|
|
|
|
Holding Company : |
·
Shri Tradco India Private Limited (up to
05.01.2011) |
|
|
|
|
Other Related Party : |
·
Honest Enterprises Limited (up to 05.01.2011) ·
Vaghela Metals Private Limited (up to 05.01.2011) ·
Jay International (up to 05.01.2011) |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000 |
Equity Shares |
Rs.10/- each |
Rs. 11.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
940000 |
Equity Shares |
Rs.10/- each |
Rs. 9.400
Millions |
|
|
|
|
|
Note:
Out of total Shares of 940000 Shri Tradco India
Private Limited holds 938000 Equity Shares.
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000 |
Equity Shares |
Rs.10/- each |
Rs. 11.000 Millions |
|
100000 |
Preference Shares |
Rs. 10/- each |
Rs. 1.000 Million |
|
|
Total
|
|
Rs. 12.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
940000 |
Equity Shares |
Rs.10/- each |
Rs. 9.400
Millions |
|
100000 |
Preference Shares |
Rs. 10/- each |
Rs. 1.000 Million |
|
|
Total
|
|
Rs. 10.400
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.400 |
10.400 |
10.400 |
|
|
2] Share Application Money |
42.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
125.202 |
99.900 |
99.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
176.602 |
110.300 |
110.300 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
355.618 |
233.186 |
147.113 |
|
|
2] Unsecured Loans |
99.585 |
24.670 |
7.278 |
|
|
TOTAL BORROWING |
455.203 |
257.856 |
154.391 |
|
|
DEFERRED TAX LIABILITIES |
20.067 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
651.872 |
368.156 |
264.691 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
255.348 |
240.916 |
179.149 |
|
|
Capital work-in-progress |
37.526 |
9.245 |
25.871 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
426.889
|
188.045 |
26.741 |
|
|
Sundry Debtors |
82.383
|
9.521 |
12.250 |
|
|
Cash & Bank Balances |
5.418
|
0.506 |
4.535 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
32.806
|
15.674 |
14.639 |
|
Total
Current Assets |
547.496
|
213.746 |
58.165 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
160.593 |
96.038 |
3.202 |
|
|
Other Current Liabilities |
15.206
|
2.959 |
5.664 |
|
|
Provisions |
12.700
|
0.700 |
0.048 |
|
Total
Current Liabilities |
188.499
|
99.697 |
8.914 |
|
|
Net Current Assets |
358.997
|
114.049 |
49.251 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
3.945 |
10.419 |
|
|
|
|
|
|
|
|
TOTAL |
651.872 |
368.156 |
264.691 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
945.512 |
530.746 |
31.963 |
|
|
|
Other Income |
0.884 |
0.562 |
0.097 |
|
|
|
TOTAL (A) |
946.396 |
531.308 |
32.060 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
864.723 |
453.137 |
38.636 |
|
|
|
Administrative Expenses |
100.680 |
76.160 |
12.323 |
|
|
|
Increased / (Decreased) in Stock |
(126.764) |
(36.733) |
(12.835) |
|
|
|
TOTAL (B) |
838.639 |
492.564 |
38.124 |
|
|
|
|
|
|
|
|
Less |
PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
107.757 |
38.744 |
(6.064) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.863 |
23.324 |
2.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
71.894 |
15.420 |
(8.314) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.580 |
8.946 |
2.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
60.314 |
6.474 |
(10.339) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.067 |
0.000 |
0.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
40.247 |
6.474 |
(10.387) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3.945) |
(10.420) |
(0.033) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
36.302 |
(3.946) |
(10.420) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
2.886 |
0.000 |
|
|
TOTAL IMPORTS |
0.000 |
2.886 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
42.82 |
6.89 |
(16.20) |
|
Expected Sales (2011-2012) : Rs.1100.000 Millions
The above information has been parted by Mr. Amit.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.25
|
1.22 |
(32.40) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.38
|
1.22 |
(32.35) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.51
|
1.42 |
(4.36) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.06 |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.76
|
3.24 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.90
|
2.14 |
6.53 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
160.593 |
96.038 |
3.202 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
------ |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
Yes |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
No |
|
16. Details of sister concerns |
------ |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
------ |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
Note: Registered office
of the company has been shifted from Shop No.7, Century Tower, Behind Grand
Bhagwati Hotel, S. G. Highway, Bodakdev, Ahmedabad-380054, Gujarat, India to
the present address w.e.f. 01.04.2010.
FORM 8
|
Corporate identity
number of the company |
U93000GJ2007PTC051271 |
|
Name of the
company |
HONEST
DERIVATIVES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-43, Second Floor,
Sumel Business Park, Near New Cloth Market, Outside Raipur Gate,
Ahmedabad-380002, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of India, MID Corporate Group, Industrial Finance Branch, 1st
Floor, Neptune Tower Annexe, Ashram Road, Ahmedabad-380009, Gujarat, India |
|
Nature of
instrument creating charge |
Extension of
memorandum relating to deposit of title
deeds for creation of charge and further charge is created by way of mortgage
by deposit of title deeds dated 11.01.2011 |
|
Date of
instrument Creating the charge |
11.01.2011 |
|
Amount secured by
the charge |
Rs. 378.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit: At
4.50% above base rate (BR) present effective rate being 12.50 p.a with
monthly rests Terms of repayment Working Capital -
repayable on demand Margin Raw Materials
(Imported/ Indigenous) - 25% Stores and Spares
- 25% Stocks - in -
Process - 50% Finished Goods -
25% Receivables
(cover period 60 days) - 40% Letter of Credit
- 15% Bank Guarantee -
15% Extent and operation of the charge First charge by
way of extension of equitable mortgage
on immovable properties for the repayment to the Bank of all monies including
the principal sums, interest, cost, charges, expenses, and other monies
payable from time to time and that all rights, remedies, terms, conditions to
be observed by the Company for the aggregate credit facility amounting to Rs.
378.500 millions. |
|
Short particulars
of the property charged (Including location of the property) |
Gat No. 38/1, and
Gat No. 38/2, Situated At-Maldabhadi, Taluka Jamner, District Jalgaon,
both Area Sq. Mtrs -3H-40R+0-12RPK
3H-52R belonging to the Company Gat No.
38/3,Situated At-Maldabhadi, Taluka Jamner, District Jalgaon, Area Sq. Mtrs
-3H-77R belonging to the Company Gat No. - 50,
Situated At- Maldabhadi, Taluka Jamner, District Jalgaon, Area Sq. Mtrs
-10H-77R+0.03RPK 10H-80R belonging to the Company Apartment No. 101
admeasuring total 1237 sq fts at HR- 1, Hari Pooja Puram, RS No. 177 of K II
Karveer, E ward, Kolhapur as a
Collateral security of Shri Tradco India Private Limited Plot No. 14,
T.P.S No 18 of Village Shaherkotda, Taluka and District Ahemdabad as a Collateral security of Shri Tradco India
Private Limited E- 42, Second
Floor, Block No E - total admeasuring 546 Sq fts at Sumel Business Park,
Village Shaherkotda, Taluka and District Ahemdabad as a Collateral security of Shri Tradco India
Private Limited Village Form No.
7/12 of land beaing Final Plot No. 14, T.P.S No 18 of Village Shaherkotda,
Taluka and District Ahemdabad as a
Collateral security of Shri Tradco India Private Limited E-43, Second
Floor, Block No E - total admeasuring 434 Sq fts situated at Sumel Business
Park, Village Shaherkotda, Taluka and District Ahemdabad as a Collateral security of Shri Tradco India
Private Limited |
|
Charge
identification number of the charge to be modified |
10125786 |
|
Date of
instrument modifying the charge |
08.09.2008 |
|
Particulars of
the present modification |
In view of additional
credit facilities granted by the Bank, the charge is modified to secure aggregate credit facilities of Rs. 378.500 millions in favour of the
Bank |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Vehicles
·
Furniture and Fixtures
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. 50.90 |
|
|
1 |
Rs. 80.30 |
|
Euro |
1 |
Rs. 68.47 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.