MIRA
INFORM REPORT
|
Report Date : |
17.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ANCHOR ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Steel House, Plot No. 24, B Wing, Mahal Industrial Estate, Near Paper
Box, Mahakali Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra |
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|
Country : |
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|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
02.04.1981 |
|
|
|
|
Com. Reg. No.: |
11-128292 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4375.245 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31200MH1981FTC128292 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA18689G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA2190C |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturers, Importer and Exporter of Electrical Goods and Accessories. |
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|
|
|
No. of Employees
: |
2000 (Solo Employees) 10000 (Group Employees) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 33000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having good track. Directors are
reported to be experienced and respectable businessmen. Trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Makrant |
|
Designation : |
Assistant Finance Manager |
|
Contact No.: |
91-22-30418888 |
|
Date : |
14.09.2011 |
LOCATIONS
|
Registered Office : |
Steel House, Plot No. 24, B Wing, Mahal Industrial Estate, Near Paper Box,
Mahakali Caves Road, Andheri (East), Mumbai – 400 093, Maharashtra |
|
E-Mail : |
|
|
|
|
|
Corporate Office 1 : |
Unit No.101, Innova C, Marathon Nextgen, Ganpatrao Kadam Marg, Lower
Parel (West), Mumbai-400013, |
|
Tel. No.: |
91-22-30418888 |
|
Fax No.: |
91-22-30418889/ 86 |
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E-Mail : |
|
|
Website : |
|
|
Area : |
3000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate office 2 : |
Marathon Innova, C- Wing, 1st Floor, Opposite Peninsula
Corporate Park, Off G. K. Marg, Lower Parel (West), Mumbai – 400013,
Maharashtra, India |
|
|
|
|
Corporate office 3 : |
8, |
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|
|
|
Factory 1 : |
Plot No.49, |
|
Tel No.: |
91-22-32952416 |
|
Fax No.: |
91-22-66938695 |
|
Area : |
2000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory 2 : |
Located at :
|
DIRECTORS
As on 21.05.2011
|
Name : |
Mr. Toshichide Arii |
|
Designation : |
Chairman |
|
Address : |
|
|
Date of Birth/Age : |
30.09.1956 |
|
Date of Appointment : |
28.09.2007 |
|
Din No : |
01451322 |
|
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 |
|
U31200MH1981FTC128292 |
Anchor
Electricals Private Limited |
Managing
director |
23-04-10 |
23-04-07 |
- |
Active |
NO |
|
Name : |
Mr. Takaki Oguri |
|
Designation : |
Director |
|
Address : |
Flat No.2901, Erarl, |
|
Date of Birth/Age : |
27.11.1962 |
|
Date of Appointment : |
23.04.2007 |
|
Din No : |
01450431 |
|
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 |
|
U31200MH1981FTC128292 |
Anchor
Electricals Private Limited |
Whole-time
director |
01-04-11 |
23-04-07 |
- |
Active |
NO |
|
Name : |
Mr. Holger Holfmann |
|
Designation : |
Director – Sales and Finance Administration |
|
Address : |
Somerset Flat No. 2201, 22nd Floor, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
08.11.1962 |
|
Date of Appointment : |
01.08.2009 |
|
Din No.: |
00684968 |
|
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 |
|
U31100GJ1997PTC032973 |
Vossloh
Schwabe India Private Limited |
Director |
27-02-02 |
27-02-02 |
- |
Dormant |
NO |
|
U31200MH1981FTC128292 |
Anchor
Electricals Private Limited |
Whole-time
director |
21-05-10 |
01-08-09 |
- |
Active |
NO |
|
Name : |
Mr. Dinesh Aggarwal |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
A 404 A Wing Rainbow 4th Floor Raheja Vihar Near, Chandivali Studio Powai, Mumbai – 400072, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
10.11.1964 |
||||||||
|
Date of Appointment : |
26.03.2010 |
||||||||
|
Din No.: |
03006235 |
||||||||
|
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 |
|
|
U31200MH1981FTC128292 |
Anchor
Electricals Private Limited |
Whole-time
director |
01-04-11 |
26-03-10 |
- |
Active |
NO |
|
|
Name : |
Mr. Shuji Okayama |
|
Designation : |
Director |
|
Address : |
4-10-18-107, Hon Machi, Toyonaka Shi Osaka Fu-5600021, Japan |
|
Date of Birth/Age : |
30.10.1958 |
|
Date of Appointment : |
02.12.2010 |
|
Din No.: |
03377229 |
|
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 |
|
U31200MH1981FTC128292 |
Anchor
Electricals Private Limited |
Director |
21-05-11 |
02-12-10 |
- |
Active |
NO |
|
Name : |
Mr. Harumasa Furutani |
|
Designation : |
Director |
|
Address : |
777, Nakanoshima Wakayama – Shi – 6408392, Japan |
|
Date of Birth/Age : |
08.09.1959 |
|
Date of Appointment : |
21.05.2011 |
|
Din No.: |
03528760 |
|
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 |
|
U31200MH1981FTC128292 |
Anchor
Electricals Private Limited |
Director |
21-05-11 |
21-05-11 |
- |
Active |
NO |
|
Name : |
Mr. Hiroyuki Mikami |
|
Designation : |
Director |
|
Address : |
2-19-13, Kozu, Shi-Osakha, Fu Japan, India |
|
Date of Birth/Age : |
12.10.1957 |
|
Date of Appointment : |
02.12.2010 |
|
Din No.: |
003372236 |
|
Name : |
Mr. Kiyoshi Otaki |
|
Designation : |
Director |
|
Address : |
702-65, Fujimigaoka Meito-Ku, Nagoya-Aichi Ken – 4650048, Japan |
|
Date of Birth/Age : |
18.10.1962 |
|
Date of Appointment : |
01.08.2010 |
|
Date of Ceasing : |
02.12.2010 |
|
Din No.: |
03155206 |
|
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 |
|
U31200MH1981FTC128292 |
Anchor
Electricals Private Limited |
Whole-time
director |
21-05-11 |
01-08-10 |
- |
Active |
NO |
|
Name : |
Mr. Yoshinobu Takegwa |
|
Designation : |
Director |
|
Address : |
315 Ohara, Kita Ku, Kobe – 6511222, Japan |
|
Date of Birth/Age : |
19.04.1957 |
|
Date of Appointment : |
23.04.2007 |
|
Date of Ceasing : |
02.12.2010 |
|
Din No.: |
01450435 |
|
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 |
|
U31200MH1981FTC128292 |
Anchor
Electricals Private Limited |
Director |
28-09-07 |
23-04-07 |
02-12-10 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra D Gandhi |
|
Designation : |
Company Secretary |
|
Address : |
A/3, Crystal Colony, M.M Chottani Road, Mahim (West), Mumbai- 400016,
Maharashtra, India |
|
Date of Birth/Age : |
26.08.1969 |
|
Date of Appointment : |
01.04.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.05.2011
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
|
|
|
Panasonic Electronic Works Company Limited, Japan |
11854499 |
|
Panasonic Electric Works Company Limited, Japan |
1 |
|
|
|
|
Total |
11854500 |
|
Name
of Shareholders (Preference Shares) |
|
|
|
|
|
Panasonic Electric Works Company Limited , Japan |
425670000 |
|
|
|
|
Total
|
425670000 |
As on 21.05.2011
|
Category |
Percentage |
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Importer and Exporter of Electrical Goods and
Accessories. |
|
|
|
|
|
|
Products : |
Product
Description |
ITC Code |
|
Electrical Goods and Appliances |
94.05 |
|
|
|
·
Electrical
Switches ·
Electric
Fuses |
|
|
|
|
|
|
Brand Name : |
ANCHOR |
|
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Actual
Production |
|
|
|
|
Electrical Goods |
474,725,972 |
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No of Employees: |
2000 (Solo Employees) 10000 (Group Employees) (Approximately) |
|
|
|
|
Bankers : |
Malad (West) Branch, Bank of India Building,
S.V Road, Malad (West), Mumbai- 400064, Maharashtra, India |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
Jalan Mill Compoun, 95 Ganpatrao Kadam Marg, Lower Parel (West),
Mumbai- 400021, |
|
Pan No.: |
AABFS3421N |
|
|
|
|
Holding Company : |
Panasonic Electric Works Company Limited |
|
|
|
|
Ultimate Holding
Company : |
Panasonic Corporation Limited |
|
|
|
|
Fellow Subsidiaries : |
·
Panasonic Ecology Systems Company Limited ·
Panasonic Electric Works Sales (Thailand) Company
Limited ·
Panasonic Electric Works (Authaya) Company
Limited ·
Panasonic Electric Works (Electrical Construction
Materials) Taiwan Company Limited ·
Panasonic Electric Works (Hong Kong) Company
Limited ·
Panasonic Electric Works Asia Pacific Pte.
Limited ·
Panasonic Electric Works Consulting andTraining
Company Limited ·
Panasonic Electric Works Denro Company Limited ·
Panasonic Electric Works Europe ·
Panasonic Electric Works Information System
Company Limited ·
Panasonic Electric Works Vossloh-Schwabe Gmbh ·
Panasonic Energy India Company Limited ·
Panasonic India Private Limited |
|
|
|
|
Associates : |
·
Anchor Health and Beauty Care Private Limited ·
Ave Anchor Private Limited ·
Anchor Soap Private Limited ·
Anchor Daewoo Industries Limited ·
Akbar Printers Private Limited ·
Basushree Die Casting Private Limited ·
Great White Technologies Private Limited ·
Metro Electricals Private Limited ·
Classic Electricals Limited ·
Kalpana Lamps and Components ·
Parimal Engineers Private Limited ·
Pratap Bright Steels Private Limited ·
Shikhar Leasing and Trading Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000000 |
Equity Shares |
Rs.10/- each |
Rs.45000.000
Millions |
|
500000000 |
Preference Shares |
Rs.10/- each |
Rs.5000.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.50000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11854500 |
Equity Shares |
Rs.10/- each |
Rs.118.545
Millions |
|
425670000 |
Preference Shares |
Rs.10/- each |
Rs.4256.700
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4375.245 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 |
4375.245 |
4375.245 |
4375.245 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3931.997 |
2918.968 |
2247.036 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8307.242 |
7294.213 |
6622.281 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
15.179 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
15.179 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8307.242 |
7294.213 |
6637.460 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1795.885 |
1765.379 |
1905.409 |
|
|
Capital work-in-progress |
392.641 |
259.749 |
301.087 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.048 |
0.049 |
0.048 |
|
|
DEFERREX TAX ASSETS |
86.714 |
43.900 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1927.443
|
1440.743
|
2208.683
|
|
|
Sundry Debtors |
2383.589
|
2603.051
|
2789.305
|
|
|
Cash & Bank Balances |
3018.834
|
2423.247
|
999.058
|
|
|
Other Current Assets |
93.391
|
70.522
|
14.750
|
|
|
Loans & Advances |
1130.891
|
827.181
|
342.202
|
|
Total
Current Assets |
8554.148
|
7364.744
|
6353.998
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
773.014
|
446.771
|
742.484
|
|
|
Current Liabilities |
1211.766
|
1123.899
|
1059.772
|
|
|
Provisions |
537.414
|
568.017
|
120.826
|
|
Total
Current Liabilities |
2522.194
|
2139.608
|
1923.082
|
|
|
Net Current Assets |
6031.954
|
5225.136
|
4430.916
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.0000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8307.242 |
7294.213 |
6637.460 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8650.158 |
8750.553 |
8168.294 |
|
|
|
Other Income |
313.424 |
124.048 |
118.633 |
|
|
|
Scarp Sales |
128.184 |
210.132 |
109.568 |
|
|
|
TOTAL (A) |
9091.766 |
9084.733 |
8396.495 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
|
5067.486 |
4748.575 |
|
|
|
Increase / Decrease In Inventories |
7366.984 |
408.422 |
182.631 |
|
|
|
Personnel Expenses |
|
602.995 |
475.358 |
|
|
|
Operating and Other Expenses |
|
1725.439 |
1680.312 |
|
|
|
Exceptional Item |
|
234.594 |
686.000 |
|
|
|
Prior Period Items |
|
3.258 |
51.687 |
|
|
|
TOTAL (B) |
7366.984 |
8042.194 |
7824.563 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1724.782 |
1042.539 |
571.932 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
18.126 |
26.730 |
32.139 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1706.656 |
1015.809 |
539.793 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
368.583 |
290.396 |
277.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1338.073 |
725.413 |
261.856 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(22.415) |
295.129 |
111.489 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1360.488 |
1020.542 |
273.802 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2869.465 |
2197.533 |
2209.480 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4229.953 |
3218.075 |
2197.534 |
|
|
|
Dividend |
297.969 |
297.970 |
NA |
|
|
|
Tax on Dividend |
49.489 |
50.640 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
3882.495 |
2869.465 |
2197.534 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
39.136 |
59.196 |
47.927 |
|
|
TOTAL EARNINGS |
39.136 |
59.196 |
47.927 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
79.994 |
134.431 |
174.718 |
|
|
|
Stores & Spares |
193.709 |
41.545 |
NA |
|
|
|
Capital Goods |
102.183 |
0.158 |
NA |
|
|
TOTAL IMPORTS |
375.886 |
176.134 |
174.718 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.60 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
9500.000 |
|
|
|
|
|
The above information has been parted by Mr. Makrant.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
14.96
|
11.23
|
0.14
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.24
|
10.85
|
3.35
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.09
|
13.77
|
1.57
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.13
|
0.01
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.30
|
0.29
|
0.29
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.39
|
3.44
|
3.30
|
LOCAL AGENCY FURTHER INFORMATION
sundry creditors details:-
(Rs.
In Millions)
|
Sundry Creditors |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
a) Total outstanding dues of Micro and small Enterprises |
67.781 |
53.067 |
0.000 |
|
b) Total outstanding due of Creditors other than Micro and Small
Enterprises |
705.233 |
268.665 |
742.484 |
|
|
|
|
|
|
Total |
773.014 |
321.732 |
742.484 |
NATURE OF OPERATIONS
Subject ('the
Company') was incorporated in India with limited liability on April 2, 1981. The
Company is principally engaged in manufacture and marketing of electrical
switches and accessories, wires, luminaries and fans. The Company is a
subsidiary of Panasonic Electric Works Company Limited, Japan.
ACQUISITION OF 200 SHARES BY PANASONIC ELECTRIC
WORKS COMPANY LIMITED :
The Company's
Share Capital was held by Panasonic Electric Works Company Limited and Shah
Family in the ratio of 80 : 20, respectively. During the year under review
pursuant to the put and call agreement between Panasonic Electric Works Company
Limited (PEW) and Shah Family Shareholders, PEW acquired balance 20% shares in
September, 2009 from Shah Family and now holds 100% of the paid-up equity
capital of your Company along with its affiliate MIS. Panasonic Electric Works
Denro Company Limited
change of address:
The Registered Office of the company has been shifted from Unit No.
101,Innova C, Marathon, Nextgen Ganpatrao Kakam Marg, Lower Parel (West),
Mumbai-400013,
Form 8:
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U31200MH2000PTC128292 |
|
Name of the
company |
ANCHOR ELECTRICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Unit No.101, Innova C, Marathon Nextgen, Ganpatrao Kadam Marg, Lower
Parel (West), Mumbai-400013, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Bank of Malad (West) Branch, Bank of India Building, S.V Road, Malad (West),
Mumbai- 400064, Maharashtra, India E-Mail : maladw.mumbainorth@bankofindia.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation cum
loan agreement ( Plant and machinery, stock and book debts) |
|
Date of
instrument Creating the charge |
19.12.2008 |
|
Amount secured by
the charge |
Rs.125.00
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of
commission as applicable from time to time Terms of Repayment On demand Margin 10 % in term
deposit for LC limit or as required by the bank from time to time Extent and Operation of the charge Security in
favour of Bank as first charge for due payments of all monies including the
principal sums/interest / commission. Costs, charge and expenses and all other
money, whatsoever due owing and payable by the borrower to Bank under or in
respect of or in connection with or in anywise concerning or relating to the
said facilities agreed to be granted and /or granted by the Bank to the
borrower as aforesaid and also for due repayments of all present and future
continued in : (e) others Others In debtebness and
liabilities of the borrower to the Bank of any kind in any manner whether
solely or jointly primary or collateral accrued or accruing with all
relatives interest/commission charges costs (between advocate and client) and
expenses: Limit : 1) L/C
DP/Days 90 days Rs.100.000 millions; 2) Guarantee Rs.100.000 millions;
maximum 1 and 2 Rs.125.00 millions |
|
Short particulars
of the property charged |
All tangible
movable machineries and plant both present and future wherever situated b) Al
tangible movable properties and assets of whatsoever nature (both present and
future) at Bharuch, Vapi and Daman or wherever else c) All present and future
book debts, outstanding money receivable claims bills which are now due and
owing or which may any time hereafter during the continuance of this security
become due and owing to the borrower. |
Fixed assets
·
Land, Building
·
Motor Car
·
Electric Fittings
·
Plant and Machinery
·
Computers
·
Electric Fittings
·
Furniture and Fixture
·
Vehicles
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. 47.46 |
|
|
1 |
Rs. 74.95 |
|
Euro |
1 |
Rs. 65.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.