MIRA
INFORM REPORT
|
Report Date : |
01.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHEMETALL-RAI INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
PYRENE-RAI METAL TREATMENTS LIMITED |
|
|
|
|
Registered
Office : |
Gate No. 569, Pune Nagar Road, Village Karegaon Bhima, Taluka, Shirur,
Pune-412207, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
22.10.1964 |
|
|
|
|
Com. Reg. No.: |
11-131374 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.350 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920PN1964PLC131374 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC11488B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP2287P |
|
|
|
|
Legal Form : |
A
closely held public limited liability company. |
|
|
|
|
Line of Business
: |
Manufacturer
of Metal Furnishing chemicals and Equipments. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
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 DECLINED BY
|
Name : |
Mr. Mahesh Vani |
|
Designation : |
Senior Finance Executive |
|
Date : |
30.09.2011 |
|
|
|
|
Name : |
Mr. A Kumar |
|
Designation : |
General Finance Manager |
|
Date : |
30.09.2011 |
LOCATIONS
|
Registered
Office/ Factory : |
Gate No. 569, Pune Nagar Road, Village Karegaon Bhima, Taluka, Shirur,
Pune-412207, Maharashtra, India |
|
Tel. No.: |
91-2137-666751/54 |
|
Fax No.: |
91-2137-253128 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Regional Office : |
Khatau House, Udyog Mandir Compound, 7/C Bhagoji Keer Marg, Mahim
(West), Mumbai-400 016, Maharashtra, India |
|
Tel. No.: |
91-22-24449282/24444732 |
|
Fax No.: |
91-22-24449101 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located At: v
Tamil Nadu v
v
Kolkata |
|
|
|
|
Factory: |
Located AT: v
Kalyan v
Koregaon Bhima v
Pune v
Chennai |
DIRECTORS
AS ON 22.07.2011
|
Name : |
Mr. Shaindranajit Charanjit Rai |
|
Designation : |
Director |
|
Address : |
G5, |
|
Date of Birth/Age : |
01.02.1956 |
|
Date of Appointment : |
14.06.1975 |
|
DIN No.: |
00050950 |
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 |
U24100MH1963PTC012572 |
Duro
Metochem Private Limited |
Director |
14-06-75 |
14-06-75 |
Strike
off |
NO |
|
2 |
U28920PN1964PLC131374 |
Chemetall-Rai
India Limited |
Director |
14-06-75 |
14-06-75 |
Active |
NO |
|
3 |
U65990MH1981PTC025512 |
U C Rai
Holdings Private Limited |
Director |
26-10-81 |
26-10-81 |
Active |
NO |
|
4 |
U99999MH1982PTC026488 |
V
Chandra Holdings Private Limited |
Director |
26-02-82 |
26-02-82 |
Active |
NO |
|
5 |
U27100MH1985PLC038111 |
Atlas
Castalloy Limited |
Managing
director |
01-04-09 |
21-11-85 |
Active |
NO |
|
6 |
L99999PN1990PLC059487 |
Alicon
Castalloy Limited |
Managing
director |
01-11-09 |
14-07-94 |
Active |
NO |
|
7 |
U99999MH1994PTC077930 |
Nastic
Trading P Limited |
Director |
01-11-94 |
01-11-94 |
Converted
to LLP and dissolved |
NO |
|
8 |
U67120MH1995PTC087634 |
Pamela
Trading Private Limited |
Director |
01-06-99 |
01-06-99 |
Converted
to LLP and dissolved |
NO |
|
9 |
U72900PN2005PLC020593 |
Silicon
Meadows Engineering Services Limited |
Director |
20-04-05 |
20-04-05 |
Active |
NO |
|
10 |
U72200MH2000PLC128571 |
Silicon
Meadows Design Limited |
Director |
16-03-06 |
16-03-06 |
Active |
NO |
|
11 |
U51900MH2008PTC186827 |
Mithras
Trading Private Limited |
Director |
17-09-08 |
17-09-08 |
Active |
NO |
|
12 |
U51909MH2008PTC188757 |
Aimer
Trading Private Limited |
Director |
15-09-09 |
08-12-08 |
Active |
NO |
|
13 |
U34300PN2009PLC133702 |
Enkei
Wheels (India) Limited |
Director |
30-03-09 |
30-03-09 |
Active |
NO |
|
14 |
U27203MH2010PTC198386 |
Alicon
Engineering Private Limited |
Director |
04-01-10 |
04-01-10 |
Active |
NO |
|
15 |
U67120MH1996PTC096869 |
Skyblue
Trading And Investments Private Limited |
Director |
31-07-10 |
30-04-10 |
Active |
NO |
|
Name : |
Mr. Manu Tandon |
|
Designation : |
Director |
|
Address : |
16, Solitaire, 4 Samadhi road, |
|
Date of Birth/Age : |
24.07.1943 |
|
Date of Appointment : |
26.12.2008 |
|
DIN No.: |
00087615 |
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 |
L24222PN1956PLC134746 |
ELANTAS
Beck India Limited |
Managing
director |
27-05-05 |
27-05-05 |
31-07-08 |
Active |
NO |
|
2 |
U66010PN2001PLC015959 |
Bajaj
Allianz Life Insurance Company Limited |
Director |
22-09-07 |
09-03-07 |
- |
Active |
NO |
|
3 |
U28920PN1964PLC131374 |
Chemetall-Rai
India Limited |
Alternate
director |
28-07-11 |
26-02-08 |
- |
Active |
NO |
|
4 |
U66010PN2000PLC015329 |
Bajaj
Allianz General Insurance Company Limited |
Director |
25-09-09 |
06-03-09 |
- |
Active |
NO |
|
Name : |
Mr. Ram Nath |
|
Designation : |
Director |
|
Address : |
57-58 Gulestan, |
|
Date of Birth/Age : |
01.05.1928 |
|
Date of Appointment : |
23.10.1964 |
|
DIN No.: |
00602875 |
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 |
U28920PN1964PLC131374 |
Chemetall-Rai
India Limited |
Director |
22-10-64 |
22-10-64 |
Active |
NO |
|
2 |
U01110MH1979PTC021501 |
Tropical
Chemicals And Specialities Private Limited |
Director |
27-07-79 |
27-07-79 |
Strike
off |
NO |
|
Name : |
Mr. Asis Ray |
|
Designation : |
Director |
|
Address : |
A1/602, |
|
Date of Birth/Age : |
25.12.1952 |
|
Date of Appointment : |
19.01.2010 |
|
DIN No.: |
01420166 |
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 |
L99999PN1990PLC059487 |
Alicon
Castalloy Limited |
Director |
30-04-04 |
30-04-04 |
Active |
NO |
|
2 |
U28920PN1964PLC131374 |
Chemetall-Rai
India Limited |
Managing
director |
19-01-10 |
19-01-10 |
Active |
NO |
|
Name : |
Mr. Michael John Watson |
|
Designation : |
Director |
|
Address : |
Flat 41A, Branksome 3A, Trgunter Path Mid Levels, Hong Kong |
|
Date of Birth/Age : |
18.01.1957 |
|
Date of Appointment : |
20.12.2005 |
|
DIN No.: |
02239076 |
|
|
|
|
Name : |
Mr. Joris Merckx |
|
Designation : |
Director |
|
Address : |
Kerkstraat 18, 3391, Meensel, Kiezegem, Kiezegem |
|
Date of Birth/Age : |
02.07.1964 |
|
Date of Appointment : |
10.12.2008 |
|
DIN No.: |
02512484 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh Vani |
|
Designation : |
Senior Finance Executive |
|
|
|
|
Name : |
Mr. A Kumar |
|
Designation : |
General Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.07.2011
|
Names of Shareholders |
No. of Shares |
|
Ram Nath, Indira Nath and Rabindra Nath |
29398 |
|
Indira Nath, Ram Nath and Gitanjali Kapur |
29401 |
|
Gitanjali Kapur |
34049 |
|
Rabindra Nath |
36700 |
|
Rabindra Nath and Indira Nath |
17452 |
|
Shailendrajit Rai and Pamela Rai |
60060 |
|
Usha Rai and Meenal Gidwani |
4977 |
|
Shailendrajit Rai and Usha Rai |
24000 |
|
Usha Rai and Shailendrajit Rai |
1500 |
|
Usha Rai and Shailendrajit Rai |
995 |
|
Shailendrajit Rai |
42989 |
|
Vinita Chandra |
42990 |
|
Meenal Gidwani |
42989 |
|
Chemetall India Company, MKI, IPB |
294000 |
|
Chemetall |
73500 |
|
Total |
735000 |
AS ON 22.07.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Directors or relatives of Directors |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Metal Furnishing chemicals and Equipments. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
|
Installed Capacity |
Actual Production |
|
Powder
Chemicals |
MT |
|
2102 |
1910 |
|
Liquid
Chemicals |
MT |
|
11479 |
5160 |
|
Liquid Chemicals |
KL |
|
-- |
2659 |
|
Powder / Liquid Chemicals |
NOS |
|
-- |
17207 |
|
Finished Goods Chemicals |
LTRS |
|
-- |
16819 |
|
|
KGS |
|
-- |
1490 |
|
|
NOS. |
|
-- |
300 |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
v
Canara Bank, Fort (Main) Branch, Warden House, Sir P. M. Road,
Mumbai – 400 001, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
706, B-Wing, |
|
Tel. No.: |
91-20-66244600 |
|
Fax No.: |
91-20-66244605 |
|
|
|
|
Associates/Subsidiaries : |
·
Chemetall Gmbh ·
Chemetall India Company Limited, UK ·
Enkei Castallys limited ·
Chemetall Rai Holdings Private Limited ·
Raico Private Limited ·
Atlas Automotive and Components Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
735000 |
Equity Shares |
Rs.10/- each |
Rs. 7.350
Millions |
|
|
|
|
|
Notes:
Of the above shares 612500 (P. Y. 612500)
shares are allotted as fully paid up bonus shares by capitalization of General
Reserve.
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 |
7.350 |
7.350 |
7.350 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
319.672 |
218.988 |
167.024 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
327.022 |
226.338 |
174.374 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
17.375 |
18.709 |
43.918 |
|
|
2] Unsecured Loans |
1.400 |
1.900 |
1.900 |
|
|
TOTAL BORROWING |
18.775 |
20.609 |
45.818 |
|
|
DEFERRED TAX LIABILITIES |
19.500 |
21.400 |
18.800 |
|
|
|
|
|
|
|
|
TOTAL |
365.297 |
268.347 |
238.992 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
195.217 |
198.208 |
111.323 |
|
|
Capital work-in-progress |
7.097 |
5.982 |
11.177 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
9.100 |
7.800 |
9.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
72.820
|
65.146
|
53.985 |
|
|
Sundry Debtors |
177.586
|
147.040
|
155.180 |
|
|
Cash & Bank Balances |
98.340
|
7.088
|
16.161 |
|
|
Other Current Assets |
0.037
|
12.686
|
0.000 |
|
|
Loans & Advances |
23.013
|
22.691
|
18.686 |
|
Total
Current Assets |
371.796
|
254.651
|
244.012 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
136.888
|
159.417
|
95.700 |
|
|
Current Liabilities |
14.017
|
11.722
|
7.386 |
|
|
Provisions |
67.008
|
32.462
|
33.434 |
|
Total
Current Liabilities |
217.913
|
203.601
|
136.520 |
|
|
Net Current Assets |
153.883
|
51.050
|
107.492 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
5.307 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
365.297 |
268.347 |
238.992 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
837.152 |
699.017 |
572.697 |
|
|
|
Income from services rendered |
3.483 |
22.848 |
22.974 |
|
|
|
Other Income |
11.471 |
1.885 |
4.785 |
|
|
|
TOTAL (A) |
852.106 |
723.750 |
600.456 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Material |
397.845 |
371.748 |
323.696 |
|
|
|
Purchase of resale |
9.702 |
7.017 |
6.106 |
|
|
|
Employee Cost |
94.737 |
93.982 |
76.969 |
|
|
|
Other Expenses |
164.165 |
141.586 |
151.334 |
|
|
|
(Increase)/ Decrease in stock of finished goods and work-in- process |
(5.930) |
(3.287) |
(0.966) |
|
|
|
TOTAL (B) |
660.519 |
611.046 |
557.139 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
191.587 |
112.704 |
43.317 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.537 |
5.472 |
3.889 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
188.050 |
107.232 |
39.428 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.335 |
14.032 |
7.112 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
THE FOLLOWING ITEMS |
154.715 |
93.200 |
32.316 |
|
|
|
|
|
|
|
|
|
Add |
Compensation of termination
of agency agreement |
0.000 |
12.686 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
Consideration
receivable with respect to transferred / appointment of distribution rights / distributor |
5.850 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
Profit
of Disposal of Property |
81.760 |
0.000 |
42.693 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
242.325 |
105.886 |
75.009 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
74.600 |
38.300 |
30.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
167.725 |
67.586 |
44.409 |
|
|
|
|
|
|
|
|
|
Add |
EXCESS / (SHORT)
PROVISION FOR CURRENT TAXATION IN RESPECT OF EARLIER YEARS |
(0.516) |
0.200 |
0.425 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
142.226 |
97.041 |
67.094 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
26.460 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
30.503 |
13.524 |
8.893 |
|
|
|
Tax on Dividend |
9.563 |
2.298 |
1.511 |
|
|
|
Transfer to General Reserve |
16.721 |
6.779 |
4.483 |
|
|
BALANCE CARRIED
TO THE B/S |
226.188 |
142.226 |
97.041 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
12.572 |
19.142 |
11.262 |
|
|
|
Freight and Insurance on above |
0.836 |
0.771 |
0.526 |
|
|
|
Commission Earnings |
1.965 |
22.766 |
22.974 |
|
|
|
Other Earnings |
0.168 |
12.666 |
0.000 |
|
|
TOTAL EARNINGS |
15.541 |
55.345 |
34.762 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
98.339 |
77.931 |
60.559 |
|
|
|
Traded Finished Goods |
7.784 |
5.196 |
4.353 |
|
|
|
Capital Goods |
4.084 |
0.791 |
0.000 |
|
|
TOTAL IMPORTS |
110.207 |
83.918 |
64.912 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
227.49 |
92.23 |
61.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
19.68
|
9.34
|
7.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.95
|
15.15
|
13.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
42.06
|
22.99
|
20.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.74
|
0.47
|
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.72
|
0.99
|
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
1.25
|
1.79 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
in Millions)
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
1. Total outstanding dues of Micro Enterprises and Small Enterprises |
1.567 |
0.000 |
0.000 |
|
2. Total outstanding dues of creditors other than Micro Enterprises and
Small Enterprises |
135.321 |
159.417 |
95.700 |
|
Total |
136.888 |
159.417 |
95.700 |
Note:
Registered office of the company has been shifted from Nirlon House, 254-B, Dr. A. B. Road, Worli, Mumbai- 400018, Maharashtra to the present address w.e.f.01.01.2008
Company Operations:
The year under report (31.03.10) has resulted in a net profit of Rs.167.209 Millions after providing Rs.33.335 Millions for Depreciation and Rs.74.600 Millions for Taxation. This amount together with the Profit of Rs.142.226 Millions brought forward from earlier years aggregating to Rs.309.435 Millions is available for appropriation.
The Company’s income grew by 17.7% over the previous year. Profit before Tax has, increased by 128.85% over the previous year partly due to higher operating earnings and profit on disposal of property. The Operational PBT has significantly increased by 66% compared to the previous year mainly due to higher gross contribution (on account of higher volumes, lower over heads, higher price realization and better product mix)
FORM 8
|
Corporate
identity number of the company |
U28920PN1964PLC131374 |
|
Name of the
company |
CHEMETALL-RAI INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No.569, Pune Nagar Road, Village Karegaon Bhima, Taluka- Shirur, Pune – 412207, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
Canara Bank |
|
Nature of
instrument creating charge |
Canmobile Agreement dated 31st August, 2009 |
|
Date of
instrument Creating the charge |
31.08.2009 |
|
Amount secured by
the charge |
Rs.1.164 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest For the first 12 months - 8.50% For the next 24 months - 9.50% For the next 24 months - 10.50% Terms of
Repayment The loan is to be repaid in 60 months as follows: EMI for the first 12 months - Rs. 23891/- EMI for the next 24 months - Rs. 24456/- EMI for the next 24 months - Rs. 25028/- Margin As specified by bank from time to time Extent and
Operation of the charge Bank has granted Car Finance for the purchase of following 3 cars 1) Hyundai I10 valued at Rs.0.377 Million 2) Ford Ikon Diesel valued at Rs.0.585 Million and 3) Maruti Alto LXI valued at Rs.0.331 Million described in Schedule A to the Agreement. |
|
Short particulars
of the property charged |
Hypothecation of 3 Motor Cars, viz. Hyundai I10, Ford Ikon Diesel and Maruti Alto LXI, described in Schedule A to the Agreement, alongwith tools, accessories etc. |
Fixed Assets:
v
v
v
v
Building
v
Plant and Machinery
v
Furniture and Fixture
v
Motor Vehicles
v
Improvement to Leasehold Premises
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. 48.93 |
|
|
1 |
Rs. 76.51 |
|
Euro |
1 |
Rs. 66.64 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.