MIRA
INFORM REPORT
|
Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
ADANI AGRI FRESH LIMITED |
|
|
|
|
Registered Office : |
Adani House, Near |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
14.12.2004 |
|
|
|
|
Com. Reg. No.: |
04-45143 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.1025.710 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U63022GJ2004PLC045143 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA04990G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Exporters and suppliers
of Fruits and Vegetables. |
|
|
|
|
No. of Employees : |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Adani Group. It is a subsidiary of Adani
Enterprises Limited. Financial position of the company is moderate. There
appears some accumulated losses recorded by the company. Profitability of the
company is under pressure. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. In view of strong holding, 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 / Headquarter 1 : |
Adani House, Near |
|
Tel. No.: |
91-79-26565555 / 25555101 |
|
Fax No.: |
91-79-26565500 / 25555500 / 25555102 |
|
E-Mail : |
|
|
Websites : |
http://www.adanigroup.com |
|
|
|
|
Corporate Office / Headquarter 2 : |
Plot No. 83, Sector – 32 Institutional Area, Gurgaon – 122 001, |
|
Tel. No.: |
91-124-2555101 / 2555000 / 2555555 |
|
Fax No.: |
91-124-2555212 / 2555110 |
|
|
|
|
Administrative Office : |
Near Railway Crossing, 3rd Floor, Fortune House,
Navrangpura, Ahmedabad – 380 009, |
|
Tel. No.: |
91-79-25556673 |
|
Fax No.: |
91-79-25555621 |
|
|
|
|
Headquarter 3 : |
Post Box No. 1, Mundra (Kutch) 370421, |
|
Tel. No.: |
91-2838-289248 / 448 |
|
|
|
|
Shimla Office : |
Evergreen House, 1-New Road, Chotta Shimla, Shimla – 171
002, |
|
Tel. No.: |
91- 177-2624560 |
|
Fax No.: |
91-177-2623907 |
|
E-Mail: |
|
|
|
|
|
Sainj Site : |
Village: Sainj,
Tehsil-Theog, District:
Shimla, |
|
Tel. No.: |
91-1783-235241 |
|
E-Mail: |
|
|
|
|
|
|
Village:
Rewali (Bithal), Tehsil-Kumarsain, District:
Shimla, |
|
Tel. No.: |
91-1782-221799 |
|
Fax No.: |
91-1782-221797 |
|
E-Mail: |
|
|
|
|
|
Rohru Site : |
Village: Mehndli,
Tehsil-Rohru, District:
Shimla, |
|
Tel. No.: |
91-1781-241474 |
|
E-Mail: |
|
|
|
|
|
Branch Office : |
Located at : · Kolkata · Mumbai ·
·
|
DIRECTORS
As on 01.06.2011
|
Name : |
Mr. Pranav Vinod Adani |
|
Designation : |
Managing Director |
|
Address : |
Shantivan, Behind Karnavati Club, |
|
Date of Birth/Age : |
09.08.1978 |
|
Qualification : |
MBA from |
|
Date of Appointment : |
15.06.2005 |
|
DIN No.: |
00008457 |
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 |
U17110GJ1993PTC020968 |
Vishakha Polyfab
Private Limited |
Director |
06-10-01 |
06-10-01 |
31-03-08 |
Active |
NO |
|
2 |
U72200GJ2000PTC050919 |
Netvantage
International Private Limited |
Director |
10-09-03 |
10-09-03 |
25-09-08 |
Active |
NO |
|
3 |
U45300GJ1999PTC036797 |
Adani Port
Infrastructure Private Limited |
Managing
director |
22-03-04 |
22-03-04 |
- |
Amalgamated |
NO |
|
4 |
U52190GJ2000PTC038315 |
Adani Retail
Private Limited |
Director |
25-06-04 |
25-06-04 |
19-08-08 |
Active |
NO |
|
5 |
U63022GJ2004PLC045143 |
Adani Agri Fresh
Limited |
Managing
director |
15-06-10 |
15-06-05 |
- |
Active |
NO |
|
6 |
U51109GJ2007PLC049968 |
Reliance Vantage
Retail Limited |
Additional
director |
13-02-07 |
13-02-07 |
27-12-07 |
Active |
NO |
|
7 |
U45200GJ2006PTC049220 |
Adani Habitats
Private Limited |
Director |
29-09-07 |
26-03-07 |
29-07-08 |
Strike off |
NO |
|
8 |
U45201GJ2006PTC066449 |
Adani
Infrastructure And Developers Private Limited |
Director |
26-03-07 |
26-03-07 |
13-09-10 |
Active |
NO |
|
9 |
U45201GJ2007PTC051837 |
Adani Landscapes
Private Limited |
Director |
27-09-07 |
27-09-07 |
22-09-08 |
Active |
NO |
|
10 |
U45208GJ2006PTC048538 |
Adani Mundra Sez
Infrastructure Private Limited |
Director |
17-10-07 |
17-10-07 |
22-09-08 |
Active |
NO |
|
11 |
U45209GJ2008PTC052722 |
Rajasthan Sez
Private Limited |
Director |
28-07-08 |
24-01-08 |
23-08-08 |
Active |
NO |
|
12 |
U63090GJ2005PLC045356 |
Adani Agri
Logistics Limited |
Director |
27-06-08 |
04-03-08 |
- |
Active |
NO |
|
13 |
U45200GJ2005PTC047086 |
Shantigram
Estate Management Private Limited |
Director |
04-03-08 |
04-03-08 |
13-09-10 |
Active |
NO |
|
14 |
U51109GJ1997PTC032088 |
Miraj Impex
Private Limited |
Additional
director |
04-03-08 |
04-03-08 |
29-07-08 |
Active |
NO |
|
15 |
U15146GJ1999PLC035320 |
Adani Wilmar
Limited |
Managing
director |
01-04-08 |
01-04-08 |
- |
Active |
NO |
|
16 |
U14200GJ2007PTC051634 |
Adani Mining
Private Limited |
Director |
25-08-09 |
29-09-08 |
- |
Active |
NO |
|
17 |
U40100GJ2008PTC055265 |
Baramati Power
Private Limited |
Director |
21-10-08 |
21-10-08 |
- |
Under Process of
Striking off |
NO |
|
18 |
U40108GJ2008PLC055342 |
Mundra Power Sez
Limited |
Director |
20-06-09 |
27-10-08 |
01-03-11 |
Active |
NO |
|
19 |
U40200GJ2008PTC054045 |
Chemoil Adani
Private Limited |
Director |
25-08-09 |
03-12-08 |
- |
Active |
NO |
|
20 |
U45400MH1999PTC120892 |
Aaloka Real
Estate Private Limited |
Director |
25-08-09 |
29-01-09 |
13-09-10 |
Active |
NO |
|
21 |
U92410GJ1989GAP012192 |
Karnavati Club
Limited |
Director
appointed in casual vacancy |
03-04-09 |
03-04-09 |
- |
Active |
NO |
|
22 |
U51100GJ2000PTC038408 |
B 2 B |
Director |
31-08-09 |
31-05-09 |
- |
Active |
NO |
|
23 |
U01110GJ1995PTC024627 |
Adani Agro
Private Limited |
Director |
29-09-09 |
31-05-09 |
- |
Active |
NO |
|
24 |
U45201GJ1999PTC036798 |
Adani
Infrastructure Services Private Limited |
Director |
29-09-09 |
31-05-09 |
- |
Amalgamated |
NO |
|
25 |
U45201GJ1995PTC026067 |
Adani Properties
Private Limited |
Director |
14-09-09 |
31-05-09 |
- |
Active |
NO |
|
26 |
U40100GJ2005PLC046553 |
Adani Gas
Limited |
Director |
20-08-10 |
08-08-09 |
- |
Active |
NO |
|
27 |
U26943GJ2009PLC058955 |
Adani Cements Limited |
Director |
21-12-09 |
21-12-09 |
- |
Active |
NO |
|
28 |
U40100GJ2010PLC059653 |
Mahaguj Power
Limited |
Director |
20-02-10 |
20-02-10 |
- |
Active |
NO |
|
29 |
U51900GJ2010PTC059763 |
Adani Tradelinks
Private Limited |
Director |
03-03-10 |
03-03-10 |
- |
Amalgamated |
NO |
|
30 |
U40100GJ2009PLC057562 |
Kutchh Power
Generation Limited |
Director |
20-08-10 |
16-03-10 |
01-03-11 |
Active |
NO |
|
31 |
U40100GJ2006PLC047672 |
Adani Power
Dahej Limited |
Director |
20-08-10 |
16-03-10 |
01-03-11 |
Active |
NO |
|
32 |
U51909GJ2010PTC060309 |
Advance Tradex
Private Limited |
Director |
19-04-10 |
19-04-10 |
- |
Amalgamated |
NO |
|
33 |
U40100GJ2005PLC046554 |
Adani Welspun
Exploration Limited |
Director |
09-08-11 |
22-11-10 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Atul Lekhendranath Chaturvedi |
|
Designation : |
Director |
|
Address : |
B/11 Shakti Enclave, Near |
|
Date of Birth/Age : |
06.10.1955 |
|
Date of Appointment : |
14.12.2004 |
|
DIN No.: |
00175355 |
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 |
U63022GJ2004PLC045143 |
Adani Agri Fresh
Limited |
Director |
14-12-04 |
14-12-04 |
Active |
NO |
|
2 |
U63090GJ2005PLC045356 |
Adani Agri
Logistics Limited |
Managing
director |
02-06-11 |
19-01-08 |
Active |
NO |
|
3 |
U01112MP1979NPL001559 |
Soyabeen
Processors Association Of |
Director |
30-09-10 |
30-09-10 |
Active |
NO |
|
4 |
U15143TN2002PTC049397 |
K.T.V. Health
Food Private Limited |
Additional
director |
23-12-10 |
23-12-10 |
Active |
NO |
|
5 |
U15142TN1992PTC022080 |
Varadaraja Agro
Industries Private Limited |
Additional
director |
23-12-10 |
23-12-10 |
Active |
NO |
|
6 |
U74999MH2008PTC185990 |
Natural Growers
Private Limited |
Director |
05-08-11 |
05-03-11 |
Active |
NO |
|
7 |
U15143GJ2011PTC064651 |
AWN Agro Private
Limited |
Director |
27-06-11 |
27-06-11 |
Active |
NO |
|
|
|
|
Name : |
Kamal Daulalji Moondra |
|
Designation : |
Director |
|
Address : |
22, Kaushalya Bunglows, Ramdev Nagar, Satellite, Ahmedabad – 380 015, |
|
Date of Birth/Age : |
05.05.1958 |
|
Date of Appointment : |
12.07.2010 |
|
DIN No.: |
00019671 |
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 |
U17110GJ1993PTC020968 |
Vishakha Polyfab
Private Limited |
Director |
06-10-01 |
06-10-01 |
Active |
NO |
|
2 |
U63022GJ2004PLC045143 |
Adani Agri Fresh
Limited |
Director |
01-06-11 |
12-07-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.06.2011
|
Names of Equity Shareholders |
|
No. of Shares |
|
Adani Enterprises Limited, |
|
45609940 |
|
Pranav Vinodbhai Adani (Nominee of Adani Enterprises Limited, |
|
10 |
|
Namrata P Adani (Nominee of Adani Enterprises Limited, |
|
10 |
|
Priti G Adani (Nominee of Adani Enterprises Limited, |
|
10 |
|
Shilin R. Adani (Nominee of Adani Enterprises Limited, |
|
10 |
|
Ranjan Adani (Nominee of Adani Enterprises Limited, |
|
10 |
|
Vinod Adani (Nominee of Adani Enterprises Limited, |
|
10 |
|
Total |
|
45610000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Adani Enterprises Limited, |
|
56961000 |
|
Total |
|
56961000 |
As on 01.06.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporters and suppliers
of Fruits and Vegetables. |
|
|
|
|
Products : |
Controlled Atmosphere Storage |
|
|
|
|
Brand Names : |
‘FARM-PIK’ |
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
UCO Bank SDA Complex, Kasumpati, Shimla – 171 009, ·
H P State Co-Operative Bank |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
|
|
Tel. No.: |
91-11-23279809 / 23263324 |
|
Fax No.: |
91-11-23264419 |
|
E-Mail : |
|
|
Pan No.: |
AABFS5418B |
|
|
|
|
Holding Company : |
Adani Enterprises Limited, CIN No.: L51100GJ1993PLC019067 |
|
|
|
|
Fellow Subsidiaries : |
·
Adani Energy Limited ·
Adani Mining Private Limited |
|
|
|
|
Associate Companies/ Firms |
·
Adani Wilmar Limited ·
Vishakha Industries |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 millions |
|
56961000 |
Preferences Shares |
Rs.10/- each |
Rs.569.610 millions |
|
|
Total |
|
Rs.1069.610
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45610000 |
Equity Shares |
Rs.10/- each |
Rs.456.100
millions |
|
56961000 |
0.01% Non Cumulative Optionally Convertible Preferences Shares |
Rs.10/- each |
Rs.569.610 millions |
|
|
Total |
|
Rs.1025.710
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 |
1025.710 |
456.100 |
456.100 |
|
|
2] Share Application Money |
0.000 |
569.610 |
569.610 |
|
|
3] Reserves & Surplus |
79.990 |
79.990 |
79.990 |
|
|
4] (Accumulated Losses) |
(456.905) |
(297.476) |
(175.602) |
|
|
NETWORTH |
648.795 |
808.224 |
930.098 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
988.390 |
1168.989 |
1106.021 |
|
|
2] Unsecured Loans |
496.818 |
65.518 |
0.000 |
|
|
TOTAL BORROWING |
1485.208 |
1234.507 |
1106.021 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2134.003 |
2042.731 |
2036.119 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1533.639 |
1623.718 |
1712.638 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
53.964 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
162.792 |
93.291 |
76.359 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
314.936
|
296.525
|
264.094 |
|
|
Sundry Debtors |
125.337
|
144.560
|
49.111 |
|
|
Cash & Bank Balances |
8.527
|
9.261
|
26.651 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
28.498
|
21.355
|
32.785 |
|
Total
Current Assets |
477.298
|
471.701
|
372.641 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
75.549
|
126.426
|
116.985 |
|
|
Current Liabilities |
16.033
|
18.056
|
7.673 |
|
|
Provisions |
2.108
|
1.497
|
3.369 |
|
Total
Current Liabilities |
93.690
|
145.979
|
128.027 |
|
|
Net Current Assets |
383.608
|
325.722
|
244.614 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
2.508 |
|
|
|
|
|
|
|
|
TOTAL |
2134.003 |
2042.731 |
2036.119 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Operating Income |
799.288 |
924.485 |
263.359 |
|
|
|
Other Income |
3.654 |
7.243 |
0.721 |
|
|
|
TOTAL (A) |
802.942 |
931.728 |
264.080 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
575.752 |
608.895 |
207.956 |
|
|
|
Personnel Expenses |
38.938 |
55.816 |
61.657 |
|
|
|
Operating and Other Expenses |
189.249 |
183.188 |
103.777 |
|
|
|
Miscellaneous/ Incidental Expenditure
Written off |
0.000 |
2.508 |
0.627 |
|
|
|
TOTAL (B) |
803.939 |
850.407 |
374.017 |
|
|
|
|
|
|
|
|
Less |
PROFIT/LOSS
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(0.997) |
81.321 |
(109.937) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND FINANCE
CHARGES (D) |
133.543 |
124.668 |
80.474 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(134.540) |
(43.347) |
(190.411) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
94.389 |
94.659 |
58.689 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS BEFORE
TAX (E-F) (G) |
(228.929) |
(138.006) |
(249.100) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(69.500) |
(16.132) |
(73.498) |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX (G-H) (I) |
(159.429) |
(121.874) |
(175.602) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(159.429) |
(121.874) |
(175.602) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
40.076 |
71.805 |
10.938 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
0.883 |
4.492 |
16.156 |
|
|
|
|
|
|
|
|
|
|
Earnings (Loss)
Per Share (Rs.) |
(3.50) |
(2.67) |
(3.85) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(19.86) |
(13.08) |
(66.50) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(28.64) |
(14.93) |
(94.59) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.38) |
(6.59) |
(11.95) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.35) |
(0.17) |
(0.27) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.43 |
1.71 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.09 |
3.23 |
2.91 |
LOCAL AGENCY FURTHER INFORMATION
NATURE OF
OPERATIONS
The Company has set up modern Controlled Atmospheric (CA) Storage
facilities for storage of Apple and other stone fruits with European technology
at three locations viz. Rewali, Sainj and Rohru in Himachal Pradesh having a
combined capacity of 18000 MT.
Operations
As the production
of Apples in Himachal Pradesh was quite low due to adverse weather conditions
last year, the price of apple was higher by about 70% and the availability of
quality fruit was also less. As a result, the company purchased 8811.51 M.T. of
apples and stored 8720.61 M.T. of apples in CA units. However, the company
substantially increased the purchase of
During the year,
the company also ventured into the imported fruits business. The company
imported total 50292 boxes of Apples, Pear and Kiwi from
The company is
taking many steps to engage growers meaningfully to enhance the quality and
yield of the crop in the operation areas.
CONTINGENT
LIABILITIES NOT PROVIDED FOR
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
Bank Guarantee (Includes Rs.38.840 millions for Export Obligation) |
42.106 |
|
Penalty under section 10(A) of the CST Act on interstate purchase of
goods made at concessional rate of tax without meeting the requirement of sector
8(3)(b) of CST Act, 1856. Case pending before Additional excise and taxation
commissioner (Appeals) Shimla. |
40.318 |
Bankers Charges Report as per Registry
|
Corporate identity number of the company |
U63022GJ2004PLC045143 |
|
Name of the company |
ADANI AGRI FRESH LIMITED |
|
Address of the registered office or of the principal place of business in |
Adani House, Near |
|
This form is for |
Modification of charge |
|
Charge identification number of the modified |
10112450 |
|
Type of charge |
·
Immovable property ·
Any interest in immovable property |
|
Particular of charge holder |
UCO Bank SDA Complex, Kasumpati, Shimla – 171 009, |
|
Nature of description of the instrument creating or modifying the
charge |
Deed of Hypothecation |
|
Date of instrument Creating the charge |
28.10.2010 |
|
Amount secured by the charge |
Rs.760.000 millions |
|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of interest As per sanction letter of the bank and any subsequent modifications
thereto Terms of repayment As per As per sanction letter of the bank and any subsequent
modifications thereto Margin As per sanction letter of the bank and any subsequent modifications
thereto Extent and operation of the charge Sole Charge |
|
Short particulars of the property charged |
Charge created on Plant and Machinery and other immovable and moveable
fixed assets of the Company Situated at 1) Village: Rewalli Tehsil: Rampur Distt.: Shimla 2)
Village: Mehandli Tehsil: Rohru Distt.: Shimla 3) Village: Sainj Tehsil:
Theog Distt.: Shimla 4) Shop at Khita Complex, Main Bazar Rohru 5) Shop near
Saligram Temple at Chaila 6) Shop
No.35/1 Raghunath Mahalla,Ward No.3 Rampur Bushahar Dist.:Shimla And various
distribution centers all over the country |
|
Particulars of the present modification |
Due to prepayment of part financial facilities the charge of UCO Bank
stands reduced from the existing limits of Rs.1959.900 millions to Rs.760.000
millions to cover Plant and Machinery and other immovable and moveable fixed
assets of the Company Situated at Rewali, Sainj and Rohru, Dist Shimla, State
: Himachal Pradesh, Shop near Saligram Temple at Chaila ,Shop No.35/1 at
Raghunath Mahalla,Ward No 3 Rampur and various distribution centres all over
the country. |
Fixed Assets
Tangible Assets
·
·
Building – Porta Cabin and Civil Work
·
D G Set
·
Material Handling Equipment
·
Plant and Machinery
·
Furniture and Fixture
·
Electric Installation
·
Office Equipments
·
Computers
·
Bicycle
·
Vehicles
Intangible Assets
·
Computer Software
Website Details
PROFILE
Subject is part of the Adani Group having a turn over of US $ 6 Billion. The group has interests in Edible Oil, Ports, Logistics, Special Economic Zones, Power, Oil and Gas exploration, Coal, Mining and Gas Distribution.
Subject has forayed into the horticulture sector with a
vision to harness the untapped potential and opportunities available in
The company has set up three Controlled Atmosphere Stores
with an investment of around Rs. 2 Billion (US $ 40 Million) at three locations
i.e.
The company is directly buying fruit from about 4000 farmers
and has provided extensive training on pre and post harvest practices. Fruit is
sold in the market through an extensive network of dealers across
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 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.49.07 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.