MIRA
INFORM REPORT
|
Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
CREATIVE POLYPACK LIMITED |
|
|
|
|
Registered Office : |
Bankra Kabarparp O Bankra, P S Domjur, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
16.06.1986 |
|
|
|
|
Com. Reg. No.: |
21- 40807 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.23.799 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U21014WB1986PLC040807 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALC00324C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCC2201R |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business : |
Manufacturer of Machineries and Quality Testing Equipments. |
|
|
|
|
No. of Employees: |
Not Available |
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 330852 |
|
|
|
|
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.
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 : |
Bankra Kabarparp O Bankra, P S Domjur, |
|
Tel. No.: |
91-33-26531445 / 26533628 |
|
Fax No.: |
91-33-26605384 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
103/24/1, |
|
Tel No.: |
91-33- 2660-5380/ 2641-2370/3350 |
|
Fax No.: |
91-33- 2660-5384 |
|
|
|
|
Factory 1 : |
Puducherry Unit
(Puducherry) Aparna Paper Processing Industry (Private) Limited, R.S. No. 17/3, 5, 7
and 10 Sedarapet, Puducherry-605111, India |
|
Tel. No.: |
91-413-2678606/ 2678707 |
|
|
|
|
Factory 2 : |
Dakhinbari, Rajapur, Domjur, Howrah-711409, West |
|
Tel. No.: |
91-33-26704692/ 2421464 |
|
|
|
|
Factory 3 : |
G-69, UPSIDC Industrial Area, |
|
Tel. No.: |
91-5111-220279/ 220317 |
|
|
|
|
Factory 4 : |
Baddi Unit
(Himachal Pradesh) Vibgyor Printing and Packaging (Private) Limited, Khasra N o. 168/ 169
Barotiwala, Haripur Road, Villge Domowala, Solan-174103, India |
|
Tel. No.: |
91-179-2320038 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Binod Kumar Maheshwari |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
3B, |
|
Date of Birth/Age : |
11.04.1950 |
|
Date of Appointment : |
16.06.1986 |
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 |
U21093WB1978PTC031521 |
CREATIVE PRODUCTS PVT LTD |
Whole-time director |
09/06/1978 |
09/06/1978 |
- |
Active |
NO |
|
2 |
U21093WB1980PTC033055 |
APARNA PAPER PROCESSING
INDUSTRY PVT LTD |
Whole-time director |
15/10/1980 |
15/10/1980 |
- |
Active |
NO |
|
3 |
U01132WB1955PTC022727 |
HALMIRA ESTATE TEA PVT LTD
|
Director |
15/10/1984 |
15/10/1984 |
- |
Active |
NO |
|
4 |
L51109WB1982PLC034798 |
UMANG COMMERCIAL CO LTD |
Director |
25/01/1985 |
25/01/1985 |
- |
Active |
NO |
|
5 |
U21014WB1986PLC040807 |
CREATIVE POLYPACK LTD |
Whole-time director |
16/06/1986 |
16/06/1986 |
- |
Active |
NO |
|
6 |
U21015WB1990PTC048259 |
CREATIVE LAMINATORS &
PRINT PACK PVT LTD |
Whole-time director |
23/01/1990 |
23/01/1990 |
- |
Active |
|
|
7 |
U36991WB1986PTC040505 |
A V G INK PVT LTD |
Whole-time director |
11/04/1990 |
11/04/1990 |
- |
Active |
|
|
8 |
U67120WB1984PTC037274 |
VIBGYOR PRINTING AND
PACKAGING PVT LTD |
Whole-time director |
07/08/1990 |
07/08/1990 |
- |
Active |
NO |
|
9 |
U74899WB1990PTC129642 |
APARNA PRINT PACK PVT.LTD.
|
Whole-time director |
13/11/1990 |
13/11/1990 |
- |
Active |
|
|
10 |
U65990MH1987PTC043557 |
PEIGEON FINANCE &
INVESTMENT PRIVATE LIMITED |
Director |
30/07/1992 |
30/07/1992 |
- |
Active |
NO |
|
11 |
U27200MH1985PLC035603 |
PARK AVENUE ENGINEERING
LIMITED |
Director |
30/07/1992 |
30/07/1992 |
- |
Active |
NO |
|
12 |
U65990MH1987PTC043580 |
BENHUR INVESTMENT COMPANY
PRIVATE LIMITED |
Director |
30/07/1992 |
30/07/1992 |
- |
Active |
NO |
|
13 |
L18101MH1987PLC134933 |
AAKARSHAK SYNTHETICS
LIMITED |
Director |
30/07/1992 |
30/07/1992 |
- |
Active |
NO |
|
14 |
U65993MH1982PLC028250 |
ASHISH TRADING AND AGENCY
LIMITED |
Director |
02/09/1993 |
02/09/1993 |
- |
Active |
NO |
|
15 |
L74899DL1993PLC054781 |
RATHI BARS LIMITED |
Director |
10/01/2007 |
10/01/2007 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Giriraj Maheshwari |
|
Designation : |
Executive Director |
|
Address : |
3B, |
|
Date of Birth/Age : |
06.05.1980 |
|
Date of Appointment : |
15.06.1998 |
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 |
U21014WB1986PLC040807 |
CREATIVE POLYPACK LTD |
Whole-time director |
15/06/1998 |
15/06/1998 |
- |
Active |
NO |
|
2 |
U21093WB1980PTC033055 |
APARNA PAPER PROCESSING
INDUSTRY PVT LTD |
Whole-time director |
15/06/1998 |
15/06/1998 |
- |
Active |
NO |
|
3 |
U67120WB1984PTC037274 |
VIBGYOR PRINTING AND
PACKAGING PVT LTD |
Whole-time director |
15/06/1998 |
15/06/1998 |
- |
Active |
NO |
|
4 |
U36991WB1986PTC040505 |
A V G INK PVT LTD |
Whole-time director |
11/04/2003 |
11/04/2003 |
- |
Active |
|
|
5 |
U74899WB1990PTC129642 |
APARNA PRINT PACK PVT.LTD.
|
Whole-time director |
11/04/2003 |
11/04/2003 |
- |
Active |
|
|
6 |
U21015WB1990PTC048259 |
CREATIVE LAMINATORS &
PRINT PACK PVT LTD |
Whole-time director |
11/04/2003 |
11/04/2003 |
- |
Active |
|
|
7 |
U21093WB1978PTC031521 |
CREATIVE PRODUCTS PVT LTD |
Whole-time director |
11/04/2003 |
11/04/2003 |
- |
Active |
NO |
|
8 |
U27101WB1983PLC154615 |
ARVIND PRESS CAPS LIMITED |
Director |
25/08/2004 |
25/08/2004 |
- |
Active |
NO |
|
Name : |
Mrs. Sangeeta Maheshwari |
|
Designation : |
Whole-time Director |
|
Address : |
3B, |
|
Date of Birth/Age : |
23.05.1955 |
|
Date of Appointment : |
04.08.2005 |
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 |
U21093WB1978PTC031521 |
CREATIVE PRODUCTS PVT LTD |
Whole-time director |
17/03/1979 |
17/03/1979 |
- |
Active |
NO |
|
2 |
U36991WB1986PTC040505 |
A V G INK PVT LTD |
Whole-time director |
11/04/1986 |
11/04/1986 |
- |
Active |
|
|
3 |
U21015WB1990PTC048259 |
CREATIVE LAMINATORS &
PRINT PACK PVT LTD |
Whole-time director |
24/01/1990 |
24/01/1990 |
- |
Active |
|
|
4 |
U67120WB1984PTC037274 |
VIBGYOR PRINTING AND
PACKAGING PVT LTD |
Whole-time director |
07/08/1990 |
07/08/1990 |
- |
Active |
NO |
|
5 |
U74899WB1990PTC129642 |
APARNA PRINT PACK PVT.LTD.
|
Whole-time director |
13/11/1990 |
13/11/1990 |
- |
Active |
|
|
6 |
U21093WB1980PTC033055 |
APARNA PAPER PROCESSING
INDUSTRY PVT LTD |
Whole-time director |
22/04/1992 |
22/04/1992 |
- |
Active |
NO |
|
7 |
U65990MH1984PLC033112 |
SAMBHAW FINANCE AND
TRADING COMPANY LIMITED |
Director |
30/08/1993 |
30/08/1993 |
- |
Active |
NO |
|
8 |
U51900MH1984PLC033049 |
SUNAYNA TRADE &
INVESTMENT COMPANY LIMITED |
Director |
30/08/1993 |
30/08/1993 |
- |
Active |
NO |
|
9 |
U51900MH1983PLC029599 |
SUSHREE TRADING LIMITED |
Director |
06/09/1993 |
06/09/1993 |
- |
Active |
NO |
|
10 |
U21014WB1986PLC040807 |
CREATIVE POLYPACK LTD |
Whole-time director |
04/08/2005 |
04/08/2005 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Binod Kumar Maheshwari |
|
445240 |
|
Binod Kumar Maheshwari (HUF) |
|
327100 |
|
Sangeeta Maheshwari |
|
439020 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2009
|
Category |
Percentage |
|
Bodies Corporate |
1.26 |
|
Directors or relatives of directors |
98.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Machineries and Quality Testing Equipments. |
|
|
|
|
Products : |
|
PRODUCTION STATUS
|
Particulars |
Unit |
31.03.2009 |
|
Installed Capacity |
Kgs |
3200000 |
GENERAL INFORMATION
|
Customers : |
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Bankers : |
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Facilities: |
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A K Dutta and Company Chartered Accountant |
|
Address : |
|
|
Pan No.: |
AAFFA4276R |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2600000 |
Equity Shares |
Rs.10/- Each |
Rs.26.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2379940 |
Equity Shares |
Rs.10/- Each |
Rs.23.799
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 |
23.799 |
19.400 |
19.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
58.914 |
35.227 |
27.379 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
82.713 |
54.627 |
46.779 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
123.449 |
84.374 |
79.189 |
|
|
2] Unsecured Loans |
37.557 |
29.760 |
22.068 |
|
|
TOTAL BORROWING |
161.006 |
114.134 |
101.257 |
|
|
DEFERRED TAX LIABILITIES |
5.664 |
3.993 |
3.993 |
|
|
|
|
|
|
|
|
TOTAL |
249.383 |
172.754 |
152.029 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
117.444 |
80.398 |
79.499 |
|
|
Capital work-in-progress |
0.000 |
0.935 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
125.284
|
80.485
|
78.296 |
|
|
Sundry Debtors |
93.150
|
81.565
|
61.226 |
|
|
Cash & Bank Balances |
13.285
|
11.974
|
9.516 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
48.028
|
22.732
|
27.605 |
|
Total
Current Assets |
279.747
|
196.756
|
176.643 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
128.597
|
91.397
|
93.069 |
|
|
Other Current Liabilities |
9.391
|
7.431
|
7.800 |
|
|
Provisions |
9.820
|
6.507
|
3.260 |
|
Total
Current Liabilities |
147.808
|
105.335
|
104.129 |
|
|
Net Current Assets |
131.939
|
91.421
|
72.514 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.016 |
|
|
|
|
|
|
|
|
TOTAL |
249.383 |
172.754 |
152.029 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
947.925 |
897.231 |
804.812 |
|
|
|
Direct Income- External Processing Charges |
18.380 |
0.493 |
0.000 |
|
|
|
Other Income |
16.662 |
17.742 |
13.920 |
|
|
|
TOTAL (A) |
982.967 |
915.466 |
818.732 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
716.753 |
662.467 |
563.728 |
|
|
|
Cylinder Charges |
11.228 |
15.832 |
12.678 |
|
|
|
Excise Duty |
73.899 |
101.594 |
122.095 |
|
|
|
Manufacturing Expenses |
94.843 |
66.636 |
64.505 |
|
|
|
Administrative Expenses |
18.582 |
12.772 |
10.309 |
|
|
|
Selling and Distribution Expenses |
13.180 |
13.661 |
11.229 |
|
|
|
Pre-Operative Expenses written off |
0.000 |
0.015 |
0.013 |
|
|
|
TOTAL (B) |
928.485 |
872.977 |
784.557 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
54.482 |
42.489 |
34.175 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
16.274 |
16.851 |
15.176 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.208 |
25.638 |
18.999 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.822 |
14.411 |
9.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
23.386 |
11.227 |
9.612 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.558 |
3.255 |
3.201 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.828 |
8.002 |
6.411 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
32.544 |
24.695 |
17.684 |
|
|
|
|
|
|
|
|
|
Add/ Less |
PRIOR PERIOD
ITEMS |
0.003 |
[0.154] |
0.600 |
|
|
|
INCOME TAX
EARLIER YEAR |
0.200 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
47.168 |
32.543 |
24.695 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
2.596 |
NA |
|
|
TOTAL EARNINGS |
NA |
2.596 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.77 |
4.12 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.51 |
0.87 |
0.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.47 |
1.25 |
1.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.89 |
4.05 |
3.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.21 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.73 |
4.02 |
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.89 |
1.87 |
1.70 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U21014WB1986PLC040807 |
|
Name of the company |
CREATIVE POLYPACK LIMITED |
|
Address of the registered office or of the
principal place of business in |
Bankra Kabarparp O Bankra, P S Domjur, |
|
This form is for |
Modification of charge |
|
Type of charge |
Book Debts Immovable Property Movable Property |
|
Particular of charge holder |
ORIENTAL BANK OF COMMERCE |
|
Nature of instrument creating charge |
Supplemental Agreement To Secure Credit /
Loan Facilities (Original charge dated 09.02.1988 for Rs.
3.900 Millions and subsequently modified on various dates and last modified
on 25/08/2010 for Rs. 175.000 Millions) |
|
Date of instrument Creating the charge |
01/11/2010 |
|
Amount secured by the charge |
Rs.228.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest CC : Interest At Base Rate + 2.00%, I.E.,
@ 10.50% At Present Or As May Be Fixed By The Bank From Time To Time. L.C. and B.G. : Commission As Per Bank's
Schedule Of Charges. Terms of Repayment C.C. : Repayable On Demand L.C. : Tenor - Dp Or Da With 180 Days
Usance Margin C.C. : 25% On Stock & Receivables L.C. : 25% In The Shape of Unencumbered
Duly Discharged Fdrs / Cdrs B.G. : 25% In The Shape of Unencumbered
Duly Discharged Fdrs / Cdrs Fresh Import L.C. : 15% In The Shape of
Unencumbered Duly Discharged Fdrs / Cdrs Extent and Operation of the charge 1. Hypothecation By Way Of First Charge All
The Company's Stocks of Raw Materials, Work In Progress, Finished Goods of
Flexible Packaging Materials, Stores, Spares And Receivables, Entire Plant
and Machinery And Other Fixed Assets
of The Company, Both Present And Future 2. E.M. of Immovable Properties At Kanpur
and Howrah |
|
Short particulars of the property charged |
Hypothecation By Way Of First Charge All
The Company's Stocks of Raw Materials, Work In Progress, Finished Goods of
Flexible Packaging Materials, Stores, Spares Kept At Company's Godown In
India and Receivables Hypothecation By
Way of First Charge Entire Plant and Machinery And Other Fixed Assets Of The
Company, Both Present And Future E.M. of Factory Land Measuring 4057 Sq. Ft.
Situated At G- 69, Jainpur, Kanpur, Together With Shed, Buildings Etc. E.M.
In Respect of Land With 4 Nos. Workshop Shed Situated At Mouza - Rajpur, J.L.
No. 11, Domjur, Howrah |
|
Date of instrument modifying the charge |
25/08/2010 |
|
Particulars of the present modification |
By This Modification The Overall Limit
Stands Enhanced From Rs. 175.000 Millions To Rs. 228.000 Millions As Follows
: C C (H) : Rs. 90.000 Millions Normal Lc/Bg : Rs. 37.500 Millions One Shot Lc : Rs. 10.000 Millions One Shot Lc :
Rs. 20.000 Millions One Shot Lc : Rs. 23.000 Millions Tl-Ii (Existing) : Rs. 10.000 Millions Tl-Iii (Existing) : Rs. 37.500 Millions Other Terms And Conditions Remain
Unchanged. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80027173 |
|
Corporate
identity number of the company |
U21014WB1986PLC040807 |
|
Name of the
company |
CREATIVE POLYPACK LIMITED |
|
Address of the
registered office or of the principal place of business in |
Bankra Kabarparp O Bankra, P S Domjur, |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
New Alipore Branch, 93, Tollygunge Circular Road, Kolkata- 700053,
West Bengal, India |
|
Nature of description
of the instrument creating or modifying the charge |
1. Supplemental
agreement to secure credit/ loan facilities 2. Letter
regarding extensions of equitable mortgage in respect of immovable properties
situated at (Original charge
dated 9.2.1988 for Rs.3.900 millions and subsequently modified on various
dated and lastly on 04.10.2007 for Rs.120.400 millions) |
|
Date of
instrument Creating the charge |
19.08.2008 |
|
Amount secured by
the charge |
Rs.120.700
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest on CC
Minimum @12% p.a or as may be fixed by the bank from time to time Terms of Repayment C.C : Repayment
on demand L.C : Tenor-DP or
DA with 180 days Usance B.G : Term of
sanction- one year Margin 25% Extent and Operation of the charge 1. Hypothecation
by way of first charge all the company’s stocks of raw material, work in
process, finished good of flexible packaging materials, stores, spares and
receivable, entire plant and machinery (including 1000mm 8 colour rotographic
printing machine) and other fixed assets of the company, both present and
future. 2. E.M of factory
land at |
|
Short particulars
of the property charged |
1. Hypothecation
by way of first charge all the company’s stocks of raw material, work in
process, finished good of flexible packaging materials, stores, spares and
receivable, entire plant and machinery (including 1000mm 8 colour rotographic
printing machine) and other fixed assets of the company, both present and
future. 2. E.M of factory
land at |
|
Date of latest
modification prior to the present modification |
04.10.2007 |
|
Particulars of
the present modification |
By this
modification the overall limit has been enhanced from Rs.120.400 millions to
Rs.120.700 millions as follows: CC (H): Rs.65.000 millions + LC/ BG :
Rs.37.500 millions + TL – II (existing): Rs.8.200 millions + TL- III
(existing) : Rs.10.000 millions TL- I granted
earlier has been repaid / adjusted The immovable
properties situated at 9B, Other terms and
conditions remain unchanged |
Fixed Assets
- Showroom
- Factory Shed and Building
- Plant and Machinery
- Electrical Installment
- Fire Extinguisher
- Furniture and Fixture
- Weighing Machine
- Water Pumps
- Generators
- Computer and Accessories
- Office Equipments
- Intercom Communication
- Motor car and Scooter
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.47.80 |
|
|
1 |
Rs.75.16 |
|
Euro |
1 |
Rs.65.11 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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.