MIRA
INFORM REPORT
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Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED (w.e.f. 12.04.1993) |
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Formerly Known
As : |
TECHNOVA PLATE MAKING SYSTEMS LIMITED |
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Registered
Office : |
Laxmi Mills Estate, Sakti Mills, Off. |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
29.08.1979 |
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Com. Reg. No.: |
11-21599 |
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Capital
Investment/ Paid-up Capital: |
Rs.119.637
millions |
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CIN No.: [Company Identification
No.] |
U74999MH1979PTC021599 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT10262A / MUMT01213C |
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PAN No.: [Permanent Account No.] |
AAACT2165J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Imaging Products. |
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No. of
Employees: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 770000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be under pressure. However, trade relations are reported
as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
Profit and Loss of the company is not available. |
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. Saket |
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Designation : |
Office Executive |
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Contact No.: |
91-22-27412464 |
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Report Date : |
20.09.2011 |
LOCATIONS
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Registered/
Corporate Office : |
Laxmi Mills Estate, Sakti Mills, Off. |
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Tel. No.: |
91-22-42200300/
27412463 / 2741 2464 (Extension - 480) / 2740 2589 |
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Mobile No.: |
91-9920066262
(Mr. Ajay J. Hathi) |
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Fax No.: |
91-22-24950322/
27410261 |
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Email: |
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Website: |
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Location: |
Owned |
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Factory 1 : |
Plot No. E 1/2/3, M.I.D.C. Taloja, Distrct
Raigad - 410 208, |
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Tel. No.: |
91-22 2741 2463, 2464 |
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Fax No.: |
91-22 2741 0261 |
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Factory 2 : |
Plot No. C2, M.I.D.C., Taloja, District
Raigad - 410 208, |
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Tel. No.: |
91-22-27401948, 27411021 |
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Fax No.: |
91-22-27410861 |
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Factory 3 : |
Plot No. T4, M.I.D.C., Taloja, District Raigad
- 410 208, |
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Tel. No.: |
91-22-27415000 |
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Fax No.: |
91-22-27412250 |
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Factory : |
17/17, Unit – 2,
MIDC Taloja, Navi Mumbai – 410 208, |
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Tel. No.: |
91-22-27410426 |
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Fax No.: |
91-22-27410861 |
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Branch 1 : |
Ahmedabad (TechNova Imaging Systems Private Limited) |
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Address : |
Plot No.: 136, 137, N I D C
Near |
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Tel No.: |
91-79-2571 3852 |
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Fax No.: |
91-79-26732715 |
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Branch 2 : |
Chennai (TechNova
Imaging Systems Private Limited) |
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Address : |
New No. 182, Old No. 299, |
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Tel No.: |
91-44-2499 0028 |
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Fax No.: |
91-44-2499 3512 |
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Branch 3 : |
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Address : |
Plot No. 79, |
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Tel No.: |
91-40-2776 6241 |
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Fax No.: |
91-40-2776 6251 |
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Branch 4 : |
Kolkata (TechNova Imaging
Systems Private Limited) |
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Address : |
P-224, Scheme VII M, C I |
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Tel No.: |
91-33-2359 4256 |
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Fax No.: |
91-33-2359 4254 |
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Branch 5 : |
Bengaluru (TechNova Imaging
Systems Private Limited) |
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Address : |
4th floor, S.V.
Towers, No.138 20th Main Road West of Chord Road, 5th
Block Rajaji Nagar, Bengaluru – 560 010, Karnataka, India |
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Tel No.: |
91-80-2320 1103 |
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Fax No.: |
91-80-2320 6898 |
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Branch 5 : |
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Address : |
9D, 9th Floor, Atma Ram House
1, Tolstoy Marg, |
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Tel No.: |
91-11-2331 9636 |
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Fax No.: |
91-11-4160 5163 |
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Branch 6 : |
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Address : |
39/4697-A, Bhavani, 1st
Floor, |
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Tel No.: |
91-484-235
0768 |
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Fax No.: |
91-484-237
4270 |
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Branch 7 : |
Mumbai (Vidyavihar) (TechNova
Imaging Systems Private Limited) |
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Address : |
Sahney Kirkwood Estate Near
Vidya Vihar Bus Depot Vidya Vihar (West), Mumbai 400 086, |
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Tel No.: |
91-22-2510 3398 / 99 |
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Fax No.: |
91-22-2510 3391 |
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Other Branches
: |
Located at Mobile No.:
91-93021 14788(Mr. Anurag Kotasthane) E-Mail Id
: anuragk@technovaindia.com Mobile No.: 91-94153 31434 (Mr. M
Nasimuddin) E-Mail Id : nasim@technovaindia.com |
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Overseas
Branch 1 : |
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Address : |
1202, LOB 12, |
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Tel No.: |
971-50-4590655 |
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Fax No.: |
971-4-8810166 |
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E-Mail Id : |
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Overseas
Branch 2 : |
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Address : |
No 17 & 18, 1st Floor, |
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Tel No.: |
94 (0)1129 47417 |
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E-Mail Id : |
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Overseas
Branch 3 : |
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Address : |
PostNet |
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Tel No.: |
27-71-3253277 |
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Fax No.: |
27-11-4522894 |
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E-Mail Id : |
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Overseas
Branch 4 : |
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Address : |
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Tel No.: |
254 734 999937 |
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E-Mail Id : |
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Other Overseas
Branches : |
Located at
Tel No.: 91-98201 85089 E-Mail Id :gopim@technovaindia.com Tel No.: 91-98201 85089 E-Mail
Id :gopim@technovaindia.com Tel No.: 1-817-736 0556 Fax
No.: 1-469-358 2294 E-Mail Id : jai@technovaindia.com |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Pranav
Natvarlal Parikh |
|
Designation : |
Chairman and
Managing Director |
|
Address : |
18 A, Manek, L.
D. Ruparel Marg, Mumbai – 400 006, |
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Date of Birth/Age : |
18.02.1943 |
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Qualification : |
B.Com., MBA Havard |
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Date of Appointment : |
29.08.1979 |
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Previous
Employment: |
Printwell |
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DIN No.: |
00318726 |
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Name : |
Mr. Arvind
Natvarlal Parikh |
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Designation : |
Director |
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Address : |
8, Palmera, L. D.
Ruparel Marg, Mumbai – 400 006, |
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Date of Birth/Age : |
19.10.1927 |
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Date of Appointment : |
29.08.1979 |
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DIN No.: |
00319473 |
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Name : |
Mr. Mangesh
Shripad Kulkarni |
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Designation : |
Director |
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Address : |
201, Moti Mahal,
28 Senapari Bapat Marg, Mahim, Mumbai, Maharashtra |
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Date of Birth/Age : |
05.06.1942 |
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Date of Appointment : |
18.04.2001 |
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DIN No.: |
00347908 |
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Name : |
Mr. Jagdish
Natvarlal Parikh |
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Designation : |
Director |
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Address : |
6B, Brighton, |
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Date of Birth/Age : |
07.02.1930 |
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Date of Appointment : |
29.08.1979 |
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DIN No.: |
00348650 |
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Name : |
Mr. Jivanlal
Gulabrai Bhatt |
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Designation : |
Whole Time
Director |
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Address : |
556/ A,
Shriketan, |
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Date of Birth/Age : |
23.10.1952 |
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Qualification : |
M.Sc. ( |
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Date of Appointment : |
01.01.1989 |
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DIN No.: |
00435182 |
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Name : |
Mrs. Snehal
Arvind Parikh |
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Designation : |
Director |
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Address : |
5, |
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Date of Birth/Age : |
01.02.1955 |
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Date of Appointment : |
26.12.1988 |
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DIN No.: |
00467965 |
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Name : |
Mrs. Maya Pranav
Parikh |
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Designation : |
Whole
Time-Director |
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Address : |
18 A, Manek, L D
Ruparel Marg, Malabar Hill Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
27.01.1978 |
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Date of Appointment : |
14.12.2001 |
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DIN No.: |
00468051 |
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Name : |
Ms. Shelina P.
Parikh |
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Designation : |
Whole Time
Director |
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Address : |
18 A, Manek, L.
D. Ruparel Marg, Mumbai – 400 006, |
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Date of Birth/Age : |
25.07.1968 |
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Date of Appointment : |
08.07.1994 |
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DIN No.: |
00468199 |
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Name : |
Mrs. Gayathri
Ramkrishnan |
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Designation : |
Director |
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Address : |
10/ 75,
Government Housing Colony, Unnat Nagar II, Off |
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Date of Birth/Age : |
01.03.1963 |
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Date of Appointment : |
14.03.2007 |
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DIN No.: |
01733464 |
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Name : |
Mr. Ashok
Basantlal Ghia |
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Designation : |
Director |
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Address : |
B-15, Devi
Chambers, 23-5, |
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Date of Birth/Age : |
20.03.1940 |
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Date of Appointment : |
26.12.1988 |
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Date of Cessation : |
01.04.2010 |
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DIN No.: |
00387835 |
KEY EXECUTIVES
|
Name : |
Mr. Shridhar |
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Designation : |
Chief Sales Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Arvind N. Parikh |
|
124000 |
|
Arvind N. Parikh
(HUF) |
|
3600 |
|
Anuradha D.
Benegal |
|
105500 |
|
Jagdish N. Parikh
(HUF) |
|
600 |
|
Kishor A. Parikh |
|
3600 |
|
Maya |
|
100200 |
|
Natvarlal G.
Parikh (HUF) |
|
4500 |
|
Poorvi A. Parikh |
|
3600 |
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Pranav N. Parikh |
|
850925 |
|
Pranav N. Parikh
(HUF) |
|
408600 |
|
Salome P. Parikh |
|
71400 |
|
Savita Parikh |
|
3600 |
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Shelina Parikh |
|
109800 |
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Snehal Parikh |
|
64800 |
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Sophie Hyams |
|
1800 |
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Jivan G. Bhatt |
|
1075 |
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Prashant J.
Parikh (Trustee of Pan Family Trust) |
|
41300 |
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Prashant J.
Parikh |
|
64800 |
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Total |
|
1963700 |
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Names of Shareholders (Preference Shares) |
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No. of Shares |
|
Pranav N. Parikh |
|
1000000 |
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Total |
|
1000000 |
Equity Share Breakup (Percentage of
Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relative of directors |
99.91 |
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Other top fifty (50) shareholders |
0.09 |
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Total |
100.00
|
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Imaging Products. |
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Products : |
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GENERAL INFORMATION
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Customers : |
Wholesalers,
Retailers, End Users and OEM’s |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
N.A. Shah and
Associates Chartered
Accountants |
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Address : |
B 41-45, Paragon Centre, Pandurang Budhkar Marg, Worli, Mumbai-400013,
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PAN No.: |
AAAFN5380N |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1980000 |
Equity Shares |
Rs.10/- each |
Rs.19.800
millions |
|
1000000 |
Preferences
Shares |
Rs.100 /- each |
Rs.100.000
millions |
|
20000 |
Unclassified
Shares |
Rs.10/- each |
Rs.0.200 million |
|
|
Total |
|
Rs.120.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1963700 |
Equity Shares |
Rs.10/- each |
Rs.19.637
millions |
|
1000000 |
Preferences
Shares |
Rs.100 /- each |
Rs.100.000
millions |
|
|
Total |
|
Rs.119.637 millions |
Notes :
Of the Above:
a) 4,660 (previous period4 ,660)Equity shares of Rs.10/.each, were
allotted to erstwhile shareholders of TechNova Graphic Systems Private Limited
and lmage Print makers Private Limited on amalgamation in the year 1990-91
b) 21, 500(previous period 2 1,500) Equity hares of Rs.10 each, were allotted to erstwhile shareholders
of TechNova Investment and Leasing Private Limited amalgamation in the year
2003-04
c) 6,300( previous period 6,300) Equity shares of Rs.10/-each, were
allotted to erstwhile shareholders of Sola Optical (
d) 1 875,140(previous period 1,875,140 Equity shares of Rs.10/each were allotted as fully paid-up bonus shares
by capitalization of General reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 (15 Months) |
31.12.2008 (9 Months) |
31.03.2008 (12 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
119.637 |
19.637 |
19.637 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
73.065 |
87.567 |
493.006 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
192.702 |
107.204 |
512.643 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2943.993 |
3021.906 |
2683.150 |
|
|
2] Unsecured Loans |
832.310 |
929.870 |
549.663 |
|
|
TOTAL BORROWING |
3776.303 |
3951.776 |
3232.813 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
118.691 |
|
|
|
|
|
|
|
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TOTAL |
3969.005 |
4058.980 |
3864.147 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
2201.801 |
2417.090 |
2380.266 |
|
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Capital work-in-progress |
4.824 |
20.555 |
62.688 |
|
|
|
|
|
|
|
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INVESTMENT |
75.230 |
75.125 |
81.319 |
|
|
DEFERREX TAX ASSETS |
67.968 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1525.366
|
1283.330 |
1080.687 |
|
|
Sundry Debtors |
765.270
|
565.387 |
426.306 |
|
|
Cash & Bank Balances |
167.651
|
130.810 |
124.298 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
549.691
|
581.710 |
527.878 |
|
Total
Current Assets |
3007.978
|
2561.237 |
2159.169 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
976.737
|
724.710 |
598.885 |
|
|
Other Current Liabilities |
275.618
|
203.885 |
145.225 |
|
|
Provisions |
136.441
|
86.432 |
75.185 |
|
Total
Current Liabilities |
1388.796
|
1015.027 |
819.295 |
|
|
Net Current Assets |
1619.182
|
1546.210 |
1339.874 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3969.005 |
4058.980 |
3864.147 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 (15 Months) |
31.12.2008 (9 Months) |
31.03.2008 (12 Months) |
|
Debt Equity Ratio (Total Liability/Networth) |
|
26.80 |
46.33 |
7.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17 |
2.52 |
2.64 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
Rs.
In Millions
|
Particulars |
31.03.2010 (15
Months) |
31.12.2008 (9
Months) |
31.03.2008 (12 Months) |
|
Dues to Other than
Micro and Small Enterprises |
|
|
|
|
- for Goods and Services |
953.422 |
684.930 |
556.467 |
|
- for Capital Goods |
23.315 |
39.611 |
42.418 |
|
Dues to Micro
and Small Enterprises |
0.000 |
0.169 |
0.000 |
|
Total |
976.737 |
724.710 |
598.885 |
History:
Subject was
incorporated on at Mumbai in
In an
Extra-Ordinary General meeting of the members held on 16th April, 1991,
the scheme of Amalgamation of Technova Graphic Systems Private Limited and
Image Printmakers Private Limited with the company was approved.
Name of the company
was changed to Technova Imaging Systems Limited on 12th April, 1993
and Registered on 14th September, 1993.
Subject has become
a Private Company with effect from 28th February 2001.
FINANCIAL HIGHLIGHTS
The company has faced tremendous challenges on account of very high volatility in the commodity
market and foreign exchange market leading to exceptional losses as indicated
in the Profit and Loss Account. Subject to this exceptional item, the operation
efficiency is considered satisfactory during the year.
In view of the above exceptional items, the company had availed the
stimulus package which has been approved by the lead bankers. Further, it has
been decided to close the accounts for the period of 15 months i.e. from
January 2009 to March 2010 and thereafter to continue the fiscal year as the
financial year of the company.
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
No |
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12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
|
17) Major suppliers |
-- |
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18) Major customers |
-- |
|
19) Payments terms |
-- |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74999MH1979PTC021599 |
|
Name of the
company |
TECHNOVA IMAGING
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Laxmi Mills
Estate, Sakti Mills L, Off. |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
90213299 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Corporation Bank,
Industrial Finance Branch, Bharat House No. 104, Ground Floor, Mumbai
Samachar Marg, Fort, Mumbai-400023, Maharashtra, India |
|
Nature of
instrument creating charge |
a) Joint Supplemental Deed of Hypothecation b) Joint Supplemental Working Capital
Consortium Agreement and c) Supplemental Inter Se Agreement (Collectively
constitute a single charge for Rs. 4336.200 Millions) |
|
Date of
instrument Creating the charge |
24.03.2011 |
|
Amount secured by
the charge |
Rs. 4336.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
stipulated by the bank from time to time Terms of
Repayment A) Working capital facilities to be repayable
on demand and B) Term Loans granted by corporation bank, Saraswat
Co-Operative bank limited and Indian Bank shall be repayable in accordance
with the terms and conditions stipulated in respective sanction letters of
and/ or as stated in the relevant security documents as amended from time to time Margin As may be
stipulated by the bank from time to time Extent and
Operation of the charge Hypothecation of
Current Assets on pari passu first charge basis and hypothecation of Movable
Fixed Assets by Second charge on
secure working capital facilities of Corporation Bank Consortium.
Hypothecation of Movable Fixed Assets by first pari passu charge basis and
hypothecation of current assets by second pari passu charge basis to secure
the term loan facilities granted/ to be granted by Corporation Bank, Saraswat
Co-Operative Bank Limited and Indian Bank. Others a) The charge
created herein by the Company shall be on pari passu inter se the members of
Corporation Bank Consortium to secure the working capital facilities for all
purpose and to all intents without any
priority of one over the other or others and b) The charge created herein by
the company shall be on pari passu inter se corporation Bank, Saraswat Bank
and Indian Bank for their Term Loans
for all purposes and to all intents without any priority of one over the
others. |
|
Short particulars
of the property charged |
Hypothecation of
current assets on pari passu first charge basis to secure Working Capital
Facilities of Corporation Bank Consortium Hypothecation of
Movable Fixed Assets by way of pari
passu second charge basis to secure Working Capital Facilities of Corporation
Bank Consortium Hypothecation of
Movable Fixed Assets on first pari passu charge basis to secure Term Loan
Facilities granted / to granted by Corporation Bank, Saraswat Co-Operative
Bank and India Bank Hypothecation of
current assets on second pari passu charge
basis to secure Term Loan faculties granted /to granted by Corporation
Bank, Saraswat Co-Operative Bank and India Bank |
|
Date of
instrument modifying the charge |
03.03.2010 |
|
Particulars of
the present modification |
The consortium
charge shall now stands increased / modified/ revised from Rs. 3859.900
Millions to Rs. 4336.200 Millions (Comprising WC limits of Rs. 2550.000
Millions and TLs of Rs. 1786.200 Millions) in favour of the members of
corporation bank consortium and Term Lenders. |
|
Corporate
identity number of the company |
U74999MH1979PTC021599 |
|
Name of the
company |
TECHNOVA IMAGING
SYSTEMS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Laxmi Mills
Estate, Sakti Mills L, Off. |
|
This form is for |
Modification of
Charge |
|
Charge identification
(ID) number of the charge to be modified |
90213299 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Corporation Bank, Industrial Finance Branch, Bharat House No.104, Ground Floor, Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India E-Mail: vlaxman@vsnl.com |
|
Nature of
instrument creating charge |
Memorandum of
entry |
|
Date of
instrument Creating the charge |
03.03.2010 |
|
Amount secured by
the charge |
Rs.3859.900
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
stipulated by the bank from time to time. Terms of
Repayment a) Working
capital facilities to be repayable on demand; and b) Term Loans to
be repayable in accordance with the terms and conditions stipulated in
respective sanction letters of Corporation Bank, Saraswat Cooperative Bank
Limited and Indian Bank and/or as stated in the relevant security documents
as amended from time to time. Margin As may be
stipulated by the Bank from time to time. Extent and
Operation of the charge The Company
accorded its consent to Corporation Bank and Corporation Bank acting for
itself and as agent of Saraswat Co. Op. Bank and Indian Bank to continue to
hold and retain the title deeds (by way of constructive delivery) and further
deposited certain supplemental title deeds in respect of its immovable
properties as mentioned under item no. 14 as security , by the Borrower to Corporation Bank
Consortium. Others a) The charge
created herein by the Company shall be on pari passu inter se the members of
Corporation Bank Consortium to secure the working capital facilities for all purposes and to all intents without any priority of
one over the other or others; and (b) The charge
created herein by the Company shall be on pari passu inter se Corporation
Bank, Saraswat Bank and Indian Bank for their Term Loans for all purposes and
to all intents without any priority of one over the others. |
|
Short particulars
of the property charged |
Company's
immovable properties lying and situated at Plot No. E-2/2, E-2/1, E-1, E-3,
C-2, 17/1 and T-4 in Taloja Industrial Area, with in the limits of |
|
Date of
instrument modifying the charge |
30.12.2008 |
|
Particulars of
the present modification |
The Consortium
shall now stands increased/modified/revised up to Rs. 3859.900 millions in
favour of the Corporation Bank consortium (for their Term Loans facilities of
Rs. 1849.900 millions and Working capital facilities of Rs. 2010.000
millions) against security of Company's immovable properties being lying and
situated in Taloja Industrial Area of MIDC. |
Fixed Assets:
·
·
·
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixtures
·
Office Equipments
·
Air – Conditioning
Equipments
·
Computers
·
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.49.17 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
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.