MIRA
INFORM REPORT
|
Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRS PERMACEL PRIVATE LIMITED (w.e.f.20.08.1999) |
|
|
|
|
Formerly Known
As : |
PERMACEL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
63, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.06.1999 |
|
|
|
|
Com. Reg. No.: |
11-120475 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1999PTC120475 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP17560E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP4401A |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing
and Trading in Self Adhesive Tapes and Labels. |
|
|
|
|
No. of Employees
: |
3000 [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 590000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
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. Yogesh Shah |
|
Designation : |
Finance Head |
|
Date : |
14.10.2011 |
LOCATIONS
|
Registered / Corporate Office : |
63, |
|
Tel. No.: |
91-22-66358333 |
|
Fax No.: |
91-22-66358383 |
|
E-Mail : |
vdedhia@prs-permacel.com |
|
Website : |
|
|
Area : |
3500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-22-2851
5052 |
|
Fax No.: |
91-22-2851
0149 |
|
|
|
|
Regional
Offices 1: |
Northern Region: 215,Suneja Tower,Plot
No.7, District Centre, Janak Puri, New Delhi –
110058, India |
|
Tel. No.: |
91-11-4761 6666 |
|
Fax No.: |
91-11-4761 6677 |
|
|
|
|
Regional
Offices 2: |
Eastern Region: BJ/134,
Sector-II, Gr.Floor, Salt lake, Kolkata - 700 091, West Bengal, India |
|
Tel. No.: |
91-33-2358 8561/62 |
|
Fax No.: |
91-33-2358 8565 |
|
|
|
|
Regional
Offices 3: |
Western Region:
63, Bombay Samachar Marg, Mumbai-400 001,
Maharashtra, India |
|
Tel. No.: |
91-22-6635 8333 |
|
Fax No.: |
91-22-6635 8383 |
|
|
|
|
Regional
Offices 4: |
Southern Region: Office No.5, 2nd Floor, |
|
Tel. No.: |
91-44-2815 5551/ 2815
3096 |
|
Fax No.: |
91-44-2815 3208 |
DIRECTORS
AS ON 23.09.2010
|
Name : |
Mr.
Sushil Kishore Premchand |
|
Designation : |
Director (NRI - based in |
|
Address : |
Madhukun 7
Narayan, |
|
Date of Birth/Age : |
27.07.1945 |
|
Qualification : |
B. Com, FCA |
|
Date of Appointment : |
05.08.1999 |
|
DIN : |
00571485 |
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 |
U24110MH1949PTC007855 |
Prs
Brand Risk Management Private Limited |
Director |
20-03-81 |
20-03-81 |
Active |
NO |
|
2 |
U51900MH1937PTC002684 |
Stock
Traders Private Limited |
Director |
20-03-81 |
20-03-81 |
Active |
NO |
|
3 |
U74999KA1993PLC046003 |
Dme
(India) Private Limited |
Director |
31-01-94 |
31-01-94 |
Active |
NO |
|
4 |
U74140MH1995PTC094339 |
Prs
Technologies Private Limited |
Director |
09-11-95 |
09-11-95 |
Active |
NO |
|
5 |
U74999MH1999PTC120475 |
Prs
Permacel Private Limited |
Director |
05-08-99 |
05-08-99 |
Active |
NO |
|
6 |
U80101DL2000PTC106371 |
Reach
Interactive Com Private Limited |
Director |
20-07-00 |
20-07-00 |
Active |
NO |
|
7 |
U31300MH2001PTC133038 |
Prs
Solutions Private Limited |
Director |
13-08-01 |
13-08-01 |
Active |
NO |
|
8 |
U67120MH2001PTC134142 |
Prs
Stock Brokers Private Limited |
Director |
16-12-01 |
16-12-01 |
Active |
NO |
|
9 |
U31300MH2003PTC141132 |
Prs
Kavach Private Limited |
Director |
01-07-03 |
01-07-03 |
Active |
NO |
|
10 |
U67120MH1961PTC012079 |
Premodyan
Private Limited |
Director |
04-04-05 |
04-04-05 |
Active |
NO |
|
11 |
U65990MH1954PTC009233 |
Fountain
Investment Private Limited |
Director |
07-09-06 |
07-09-06 |
Active |
NO |
|
12 |
U67120MH1947PTC010130 |
Prs
Hospitality Services Private Limited |
Director |
01-08-07 |
01-08-07 |
Active |
NO |
|
Name : |
Mrs. Suvarna D
Haridas |
|
Designation : |
Director |
|
Address : |
Spring Leaf, 4th
Floor, flat No. 402, |
|
Date of Birth/Age : |
25.01.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.08.1999 |
|
DIN : |
00063192 |
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 |
U51900MH1937PTC002684 |
Stock
Traders Private Limited |
Director |
08-07-93 |
08-07-93 |
Active |
NO |
|
2 |
U65990MH1954PTC009303 |
Bakul
Investments Private Limited |
Director |
08-07-93 |
08-07-93 |
Active |
NO |
|
3 |
U65990MH1954PTC009233 |
Fountain
Investment Private Limited |
Director |
03-08-94 |
03-08-94 |
Active |
NO |
|
4 |
U36911MH1954PTC009382 |
Premchand
Roychand Private Limited |
Director |
03-08-94 |
03-08-94 |
Active |
NO |
|
5 |
U74999MH1999PTC120475 |
Prs Permacel
Private Limited |
Director |
05-08-99 |
05-08-99 |
Active |
NO |
|
6 |
U24110MH1949PTC007855 |
Prs
Brand Risk Management Private Limited |
Director |
30-09-99 |
30-09-99 |
Active |
NO |
|
7 |
U74140MH1995PTC094339 |
Prs
Technologies Private Limited |
Director |
01-02-00 |
01-02-00 |
Active |
NO |
|
8 |
U80101DL2000PTC106371 |
Reach
Interactive Com Private Limited |
Director |
23-06-00 |
23-06-00 |
Active |
NO |
|
9 |
U31300MH2001PTC133038 |
Prs
Solutions Private Limited |
Director |
13-08-01 |
13-08-01 |
Active |
NO |
|
10 |
U67120MH2001PTC134142 |
Prs
Stock Brokers Private Limited |
Director |
16-12-01 |
16-12-01 |
Active |
NO |
|
11 |
U31300MH2003PTC141132 |
Prs
Kavach Private Limited |
Director |
01-07-03 |
01-07-03 |
Active |
NO |
|
12 |
U21095MH2001PTC131097 |
The
Bombay Paperie (India) Private Limited |
Director |
05-09-06 |
05-09-06 |
Active |
NO |
|
Name : |
Mr. Pradeep HIralal Shroff |
|
Designation : |
Managing Director |
|
Address : |
1802, Wallace
Apartment, |
|
Date of Birth/Age : |
06.12.1949 |
|
Qualification : |
Mechanical Engineer form I.I.T, M.S from |
|
Previous
Employment : |
Johnson and Johnson Limited |
|
Date of Appointment : |
11.08.1999 |
|
DIN : |
00063171 |
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 |
U74999MH1999PTC120475 |
Prs
Permacel Private Limited |
Director |
01-04-11 |
11-08-99 |
- |
Active |
NO |
|
2 |
U74999KA1993PLC046003 |
Dme
(India) Private Limited |
Director |
06-12-00 |
06-12-00 |
03-02-11 |
Active |
NO |
|
3 |
U31300MH2001PTC133038 |
Prs Solutions
Private Limited |
Director |
13-08-01 |
13-08-01 |
- |
Active |
NO |
|
4 |
U31300MH2003PTC141132 |
Prs
Kavach Private Limited |
Director |
01-07-03 |
01-07-03 |
- |
Active |
NO |
|
Name : |
Mr. Raj Shekharan Nair |
|
Designation : |
Director |
|
Address : |
785 Aavishkar Cross IV Block , Koramnagala, |
|
Date of Birth/Age : |
02.07.1939 |
|
Date of Appointment : |
30.11.2006 |
|
DIN : |
00202551 |
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 |
L33112MH1943FLC003972 |
Basf
India Limited |
Director |
03-03-01 |
03-03-01 |
Active |
NO |
|
2 |
L30007TN1995PLC032941 |
Tvs
Electronics Limited |
Director |
18-07-03 |
18-07-03 |
Active |
NO |
|
3 |
U24130MH2005PLC152467 |
Basf
Polyurethanes India Limited |
Director |
06-04-05 |
06-04-05 |
Amalgamated |
NO |
|
4 |
U09211KA2005PTC037121 |
Headjam
Consulting Private Limited |
Director |
02-09-05 |
02-09-05 |
Active |
|
|
5 |
U74999MH1999PTC120475 |
Prs Permacel
Private Limited |
Director |
30-11-06 |
30-11-06 |
Active |
NO |
|
6 |
U72500TN2007PLC063540 |
Tvs-E
Servicetec Limited |
Director |
29-08-08 |
24-10-07 |
Active |
NO |
|
7 |
L24120MH1995PLC086986 |
Ciba
India Limited |
Additional
director |
04-09-09 |
04-09-09 |
Amalgamated |
NO |
|
Name : |
Mr. Viren
Bhawanji Dedhia |
|
Designation : |
Whole-time
Director |
|
Address : |
507 Maheshwar
Niketan, Colbad Naka, Thane – 400 601, |
|
Date of Birth/Age : |
22.03.1961 |
|
Qualification : |
B. Com, ACA |
|
Date of Appointment : |
23.03.2009 |
|
DIN : |
02624416 |
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 |
U74999MH1999PTC120475 |
Prs
Permacel Private Limited |
Whole-time
director |
23-03-09 |
23-03-09 |
Active |
NO |
|
2 |
U74999KA1993PLC046003 |
Dme
(India) Private Limited |
Director
appointed in casual vacancy |
03-02-11 |
03-02-11 |
Active |
NO |
|
Name : |
Mr. Nityanand
Shekar Shenoy |
|
Designation : |
Whole-time
Director |
|
Address : |
|
|
Date of Birth/Age : |
30.01.1962 |
|
Qualification : |
B. Tech (ME), MBA |
|
Date of Appointment : |
23.03.2009 |
|
DIN : |
02624443 |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh Shah |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Stock Traders Private Limited, |
458980 |
50.98 |
|
Preroy Holding AG, |
441000 |
49.00 |
|
Sushil Premchand |
10 |
0.01 |
|
Haridas Suvarna |
10 |
0.01 |
|
Total |
900000 |
100 |
AS ON 23.09.2010
|
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 |
49.00 |
|
Bodies corporate |
50.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
and Trading in Self Adhesive Tapes and Labels. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity (note I, II and IV below) |
Actual
Production |
|
|
|
|
|
|
Tapes |
Various |
3700000 |
1038383 |
|
Labels |
Square Meters |
1000000 |
741434 |
|
|
|
|
|
Note:
(i)
Installed capacity is as certified by the
management, however being a technical matter, this has not been verified by the
auditors.
(ii)
Installed capacity is on two shift - 300 working
days per year basis.
(iii)
Under the Industrial Policy Statement dated 24th July,
1991 and the notifications issued there under, no licensing is required for the
Company's products.
(iv)
Installed capacity as specified above is in square
meters.
GENERAL INFORMATION
|
No. of Employees : |
3000 [Approximately] |
|||||||||||||||||||||||||||||||||
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|
|
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|
Bankers : |
·
The Saraswat Co-operative Bank Limited, 379, · ICICI Bank, ICICI Bank Towers, Bandra Kurla Complex, Nariman Point, Mumbai - 400 051, Maharashtra, India ·
Yes bank
Limited, 9th Floor, Nehru Centre, Discovery of |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
Note: (a)
The Term Loan and Cash Credit Facilities are
secured by the following: 1)
Exclusive charge on the entire Current Assets and
Fixed Assets both present and future 2)
Pledge of 2,34,000 shares of PRS Permacel held by
Stock Traders Private Limited. 3)
Exclusive charge by way of Pledge of
"Permacel" Brand. (b)
The vehicle loans from bank are secured by way of
exclusive first charge1 hypothecation of vehicles and execution of demand
promissory note in favour of the bank. (c)
Secured by Vehicles taken on Lease
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia and
Associates Chartered
Accountants |
|
Address : |
Jalan Mill
Compound, 95 Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400001, |
|
Tel. No.: |
91-22-40356300 |
|
Fax No.: |
91-22-40356400 |
|
|
|
|
Holding Company : |
· Stock Traders Private limited CIN :
U51900MH1937PTC002684 |
|
|
|
|
Fellow Subsidiaries : |
·
PRS Solutions Private Limited |
|
|
|
|
Associates : |
·
Premchand Rouchand and Sons |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
8000000 |
Preference Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs.10/- each |
Rs. 9.000
Millions |
|
|
|
|
|
Note:
Of the above 458980 equity shares are held by Stock
Traders Private Limited the holding company.
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 |
9.000 |
9.000 |
9.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
139.331 |
131.727 |
8.585 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
148.331 |
140.727 |
17.585 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
239.701 |
228.595 |
127.722 |
|
|
2] Unsecured Loans |
140.096 |
140.096 |
140.096 |
|
|
TOTAL BORROWING |
379.797 |
368.691 |
267.818 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
528.128 |
509.418 |
285.403 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
474.607 |
441.832 |
114.144 |
|
|
Capital work-in-progress |
2.294 |
25.015 |
141.931 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.025 |
0.000 |
|
|
DEFERREX TAX ASSETS |
4.139 |
14.454 |
10.974 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
70.864
|
69.618
|
67.397
|
|
|
Sundry Debtors |
192.463
|
178.734
|
135.551
|
|
|
Cash & Bank Balances |
0.309
|
3.405
|
0.527
|
|
|
Other Current Assets |
0.000
|
2.447
|
0.000
|
|
|
Loans & Advances |
21.464
|
28.813
|
17.206
|
|
Total
Current Assets |
285.100
|
283.017 |
220.681 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
94.705
|
113.704
|
67.765
|
|
|
Other Current Liabilities |
101.791
|
92.952
|
95.795
|
|
|
Provisions |
41.541
|
48.269
|
38.767
|
|
Total
Current Liabilities |
238.037
|
254.925 |
202.327 |
|
|
Net Current Assets |
47.063
|
28.092
|
18.354
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
528.128 |
509.418 |
285.403 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales Excluding Excise Duty |
747.000 |
677.190 |
590.880 |
|
|
|
Other Income |
6.550 |
4.350 |
9.090 |
|
|
|
TOTAL |
753.550 |
681.540 |
599.970 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT (LOSS)
FOR THE PERIOD CARRIED FORWARD TO THE BALANCE SHEET |
8.720 |
22.050 |
23.780 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
147.191 |
156.464 |
159.554 |
|
|
|
Stores & Spares |
2.856 |
1.125 |
3.001 |
|
|
|
Capital Goods |
0.000 |
0.088 |
0.310 |
|
|
TOTAL IMPORTS |
150.047 |
157.677 |
162.865 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.69 |
24.50 |
26.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.16
|
3.24
|
3.96
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.17
|
4.43
|
26.74
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.11
|
1.09
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS
(Rs.
In Millions)
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Micro and Small Enterprises |
0.755 |
0.955 |
0.534 |
|
Others |
93.950 |
112.749 |
67.231 |
|
Total |
94.705 |
113.704 |
67.765 |
BACKGROUND
Subject was
incorporated in India on June 22, 1999. The Company is principally engaged in
the manufacturing and trading in self adhesive tapes and labels. The Company is
a subsidiary of Stock Traders Private Limited ('STPL').
Pursuant to an
agreement for the purchase of the Permacel division of Johnson and Johnson
Limited ('J and J9), dated August 10, 1999 between J and J and the Company, the
Permacel division was transferred to the Company.
During the year
the .Company started manufacturing operations at its new facility built at
Additional Ambernath MIDC, Ambernath.
OPERATIONS
The Company posted
decent growth in Sales- and Earnings for the year ended 31 March 2011. The aggregate
of ‘sales and other' income of Rs.753.550 millions was achieved during the
accounting year ended 31st, March 2011, reflecting 11% growth over
previous year. The Company made Profit ager tax of Rs.8.720 millions for the
year ended 31st March 2011.
FUTURE PLAN OF ACTION:
To continue their
efforts in:
·
Development of new products/process.
·
Improvement of existing products/process.
·
Collecting information on the latest trends in
technologies, newer materials and applications for implementing the same in
their business.
·
Development of environment friendly products and
processes.
·
Getting products with unique features patented.
·
Getting UL approval for product safety.
CONTINGENT
LIABILITIES
Rs. in millions
|
Particulars |
31.03.2011 |
31.03.2009 |
|
(a) Demand raised by authorities against which the company has filed an appeal |
|
|
|
Excise Duty |
0.891 |
0.618 |
|
Service Tax |
3.690 |
0.000 |
|
Income Tax |
1.055 |
1.055 |
|
(b) claims against the Company arising in the course of business not acknowledged as debts (to the extent ascertainable) |
10.112 |
9.212 |
|
Total |
15.748 |
10.885 |
FORM 8
|
Corporation identity number or foreign company registrations number of the company |
U74999MH1999PTC120475 |
|
Name of the company |
PRS
PERMACEL PRIVATE LIMITED |
|
Address |
63, Bombay
Samachar Marg, Sonawala Building, Fort, Mumbai – 400001, Maharashtra, India |
|
This Form is for |
Creation of charge |
|
Type of Charges |
· Movable Property · Floating Charge |
|
Particular of the charge holder |
The Saraswat Co-operative Bank Limited, 379, |
|
Nature or description of the instrument creating charge |
Agreement of Hypothecation of moveable property. |
|
Date of the instrument creating charge |
21.01.2011 |
|
Amount Secure by the charge |
Rs.50.000 Millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Rate of Interest
- PLR i.e.13% at the time of sanction, with monthly rests or at such rates as
may be prescribed in future by the Bank from time to time. Terms of
Repayment - Moratorium of 12 months and 47 monthly installments of Rs.1.041
millions and last 1 installment of Rs.1.073 millions + interest to be paid
separately. Margin - Plant
and Machinery (local) and equipments (HVAC-Air conditioner) - 30% Imported
Machinery - 25% Furniture and
Fire Fighting equipments and other misc. fixed assets- 40% Extent and
Operation of the charge - This is Term Loan facility. There is first pari passu charge interest
amongst The Saraswat Co-operative Bank Limited and Yes Bank Limited on all
present and future moveable assets, plant and machinery, furniture and fixture
of the Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of all plant and machinery, furniture, fixture, installation, fittings and other fixed assets, tangible moveable property (both present and future) belonging to Company and lying and being at borrowers place of business at MIDC, Ambernath Factory and MIDC-Dombivli Factory or where ever else the same may be. |
fixed assets:
· Building
· Electrical Installations
· Plant and machinery
· Computers
· Vehicles
· Office Equipments
· Computers
·
· Laboratory 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. 49.02 |
|
|
1 |
Rs. 77.12 |
|
Euro |
1 |
Rs. 67.55 |
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.