|
Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
TRIDENT TOOLS LIMITED (w.e.f. 06.10.2010) TRIDENT TOOLS PRIVATE LIMITED AMALGAMATED WITH TRIDENT TOOLS LIMITED |
|
|
|
|
Formerly Known
As : |
MAGICUT TOOLS LIMITED |
|
|
|
|
Registered
Office : |
Survey No.26, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.04.1982 |
|
|
|
|
Com. Reg. No.: |
11-027046 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.61.685
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29220MH1982PLC027046 |
|
|
|
|
Legal Form : |
A Public Limited
Liability Company. Company’s shares are listed on Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of HSS Tool Bits, Hacksaws and Bandsaws. |
|
|
|
|
No. of Employees
: |
125 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 363848 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The
management has not filed the latest financials of the company with the
government departments. 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.
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Namder |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-28847191 |
|
Date : |
19.03.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No.26, |
|
Tel. No.: |
91-22-28847191 |
|
Mobile No.: |
91-9375152539 (Mr. Sameer Bhosale) |
|
Fax No.: |
91-22-28462388 |
|
E-Mail : |
|
|
Area : |
2000 sq ft |
|
Location : |
Owned |
|
|
|
|
Head Office : |
Hercules Industrial Estate, Bank of Baroda Compound, 2nd
Floor, A.C. Road, Ashok Nagar, Kandivli (East), Mumbai – 400 101,
Maharashtra, India |
|
Tel. No.: |
91-22-28462427/ 28847191 |
|
Fax No.: |
91-22-28462388/ 28871738 |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Narendra Rameshchandra Gupta |
|
Designation : |
Director |
|
Address : |
Premesh, 6-B, Bandra, Mumbai – 400 050, |
|
Date of Birth/Age : |
14.08.1948 |
|
Date of Appointment : |
29.04.1982 |
|
DIN No.: |
00535619 |
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 |
U28920MH1942PTC003569 |
COPPER COUNELL AND
CLIFFORD PVT LTD |
Director |
17/02/1977 |
17/02/1977 |
- |
Active |
NO |
|
2 |
L29220MH1982PLC027046 |
Trident Tools Limited |
Director |
29/04/1982 |
29/04/1982 |
- |
Active |
NO |
|
3 |
U29130MH1975PTC018360 |
POPULAR BRASS PRIVATE
LIMITED |
Director |
17/06/1991 |
17/06/1991 |
- |
Active |
NO |
|
4 |
U27200MH1994PLC081868 |
METAL EXTRUDERS AND
CONVERTERS LIMITED |
Director |
10/10/1994 |
10/10/1994 |
- |
Active |
NO |
|
5 |
U27200MH2000PLC127194 |
SHRI HARI EXTRUSION
LIMITED |
Director |
14/06/2000 |
14/06/2000 |
01/03/2010 |
Active |
NO |
|
6 |
U27100MH1969PTC014442 |
METAL EXTRUDERS INDIA
PRIVATE LIMITED |
Director |
14/06/2000 |
14/06/2000 |
- |
Active |
NO |
|
7 |
U28939MH2003PTC140521 |
TRIDENT TOOLS PRIVATE
LIMITED |
Director |
01/12/2005 |
01/12/2005 |
- |
Amalgamated |
NO |
|
8 |
U17120MH1988PTC047274 |
ENAKSHI SILK MILLS PRIVATE
LIMITED |
Director |
19/09/2009 |
19/09/2009 |
- |
Active |
NO |
|
9 |
U27200MH2010PTC203169 |
Quickcut Engineering
Company Private Limited |
Director |
13/05/2010 |
13/05/2010 |
- |
Active |
NO |
|
10 |
U28910MH2010PTC206271 |
MAGICUT DRILLS PRIVATE
LIMITED |
Director |
05/08/2010 |
05/08/2010 |
- |
Active |
NO |
|
11 |
U27100MH2010PTC207169 |
MAGICUT CARBIDES PRIVATE
LIMITED |
Director |
27/08/2010 |
27/08/2010 |
- |
Active |
NO |
|
12 |
L28933MH1994PLC081857 |
SERVOTECH ENGINEERING
INDUSTRIES LIMITED |
Additional director |
07/10/2010 |
07/10/2010 |
- |
Active |
NO |
|
13 |
U70200MH2010PTC202507 |
SPYCADE REALITY PRIVATE
LIMITED |
Director |
11/06/2011 |
11/06/2011 |
- |
Active |
NO |
|
14 |
U70102MH2010PTC200032 |
BEAUTIFULSTONE REAL ESTATE
PRIVATE LIMITED |
Director |
11/06/2011 |
11/06/2011 |
- |
Active |
NO |
|
15 |
U51109MH2009PTC189859 |
SNEHAL MULTITRADE PRIVATE
LIMITED |
Director |
11/06/2011 |
11/06/2011 |
- |
Active |
NO |
|
16 |
U45206MH2011PTC222095 |
WISTERIA CONSTRUCTION PRIVATE
LIMITED |
Director |
24/02/2012 |
24/02/2012 |
- |
Active |
NO |
|
Name : |
Mr. |
|
Designation : |
Managing Director |
|
Address : |
Premesh, 6-B, |
|
Date of Birth/Age : |
05.08.1973 |
|
Date of Appointment : |
01.06.2010 |
|
DIN No.: |
00106681 |
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 |
U29130MH1975PTC018360 |
POPULAR BRASS PRIVATE
LIMITED |
Director |
27/09/1999 |
27/09/1999 |
- |
Active |
NO |
|
2 |
U28939MH2003PTC140521 |
TRIDENT TOOLS PRIVATE
LIMITED |
Director |
23/05/2003 |
23/05/2003 |
- |
Amalgamated |
NO |
|
3 |
U27101MH2009PTC194600 |
EST TOOL STEEL PRIVATE
LIMITED |
Director |
03/08/2009 |
03/08/2009 |
- |
Active |
NO |
|
4 |
U17120MH1988PTC047274 |
ENAKSHI SILK MILLS PRIVATE
LIMITED |
Director |
19/09/2009 |
19/09/2009 |
- |
Active |
NO |
|
5 |
U27200MH2010PTC203169 |
Quickcut Engineering
Company Private Limited |
Director |
13/05/2010 |
13/05/2010 |
- |
Active |
NO |
|
6 |
L29220MH1982PLC027046 |
Trident Tools Limited |
Managing director |
01/06/2010 |
01/06/2010 |
- |
Active |
NO |
|
7 |
U28910MH2010PTC206271 |
MAGICUT DRILLS PRIVATE
LIMITED |
Director |
05/08/2010 |
05/08/2010 |
- |
Active |
NO |
|
8 |
U27100MH2010PTC207169 |
MAGICUT CARBIDES PRIVATE
LIMITED |
Director |
27/08/2010 |
27/08/2010 |
- |
Active |
NO |
|
9 |
U70200MH2010PTC202507 |
SPYCADE REALITY PRIVATE
LIMITED |
Director |
11/06/2011 |
11/06/2011 |
- |
Active |
NO |
|
10 |
U70102MH2010PTC200032 |
BEAUTIFULSTONE REAL ESTATE
PRIVATE LIMITED |
Director |
11/06/2011 |
11/06/2011 |
- |
Active |
NO |
|
11 |
U51109MH2009PTC189859 |
SNEHAL MULTITRADE PRIVATE
LIMITED |
Director |
11/06/2011 |
11/06/2011 |
- |
Active |
NO |
|
12 |
U51101MH2011PTC222032 |
NAKSH TRADERS AND
MARKETING PRIVATE LIMITED |
Director |
27/02/2012 |
27/02/2012 |
- |
Active |
NO |
|
Name : |
Mr. Satish
Kashinath Marathe |
|
Designation : |
Director |
|
Address : |
67,
Krishna Prasad, 1st Floor, Next To Balmohan Vidyamandir, Dr. M.B.Raut Road,
Shivaji Park, Mumbai - 400 028, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1952 |
|
Date of Appointment : |
01.12.2008 |
|
DIN No.: |
02135738 |
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 |
U23201MH1992PLC067089 |
NANDAN PETROCHEM LIMITED |
Whole-time director |
29/03/2008 |
29/03/2008 |
01/04/2009 |
Active |
NO |
|
2 |
L29220MH1982PLC027046 |
Trident Tools Limited |
Additional director |
01/12/2008 |
01/12/2008 |
- |
Active |
NO |
|
3 |
U72900MH2007PTC175520 |
FINACUS SOLUTIONS PRIVATE
LIMITED |
Director |
20/02/2011 |
20/02/2011 |
- |
Active |
NO |
|
4 |
U63040PN2011NPL139122 |
PARYATAN BHARTI FOUNDATION
|
Director |
07/04/2011 |
07/04/2011 |
- |
Active |
NO |
|
Name : |
Mr. Suresh
Vittal Bhandary |
|
Designation : |
Director |
|
Address : |
12
Spencer House, 82 Coles Road, Frazer Town, Bangalore - 560 005, Karnataka,
India |
|
Date of Birth/Age : |
04.03.19.46 |
|
Date of Appointment : |
01.12.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Sameer Bhosale |
|
Designation : |
General Manager |
|
|
|
|
Name : |
Mr. Namder |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2011
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of promoter
and Promoter Group |
|
|
|
1) Indian |
|
|
|
a) Individuals / Hindu Undivided Family |
4071080 |
60.31 |
|
2) Foreign |
|
|
|
|
|
|
|
(B) Public Shareholdings |
|
|
|
1) Institutions |
|
|
|
|
|
|
|
2) Non – Institution |
|
|
|
a) Bodies corporate |
1280028 |
18.96 |
|
|
|
|
|
b) Individuals |
|
|
|
i. Individual Shareholders holding nominal share capital upto Rs.0.100
Million |
993349 |
14.72 |
|
ii. Individual Shareholders holding nominal share capital in excess
Rs.0.100 Million |
405153 |
6.00 |
|
|
|
|
|
c) Any other |
|
|
|
i) NRI |
300 |
-- |
|
ii) Clearing Member |
90 |
-- |
|
|
|
|
|
Total |
6750000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of HSS Tool Bits, Hacksaws and Bandsaws. |
|
|
|
|
Exports : |
|
|
Products : |
HSS Tool Bits, Hacksaws and Bandsaws |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Punjab National Bank, Goregaon (East) Branch, 8 Cama Industrial
Estate, Walbhat Road, Goregaon (East), Mumbai – 400 063, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Girish Patel and Company Chartered Accountants |
|
Address : |
F-103/104, Patel Nagar, |
|
Tel. No.: |
91-22-28075966 |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6750000 |
Equity Shares |
Rs.10/- each |
Rs.67.500
millions |
|
|
Less: Calls Arrears |
|
Rs.5.815
Millions |
|
|
|
|
|
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 |
61.685 |
61.661 |
61.661 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
29.277 |
22.870 |
27.458 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(8.348) |
|
|
NETWORTH |
90.962 |
84.531 |
80.771 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
147.368 |
87.250 |
61.537 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
3.411 |
|
|
TOTAL BORROWING |
147.368 |
87.250 |
64.948 |
|
|
DEFERRED TAX LIABILITIES |
3.025 |
3.025 |
3.025 |
|
|
|
|
|
|
|
|
TOTAL |
241.355 |
174.806 |
148.744 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
52.705 |
53.352 |
49.879 |
|
|
Capital work-in-progress |
28.741 |
0.000 |
0.000 |
|
|
Goodwill on Consolidation |
6.000 |
6.750 |
7.500 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.060 |
0.060 |
0.060 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
127.796
|
85.845 |
72.319
|
|
|
Sundry Debtors |
39.668
|
108.506 |
21.794
|
|
|
Cash & Bank Balances |
0.490
|
3.007 |
2.007
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
33.579
|
34.792 |
22.119
|
|
Total
Current Assets |
201.533
|
232.150 |
118.239 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
33.212
|
99.418 |
25.853
|
|
|
Other Current Liabilities |
10.010
|
14.627 |
1.104
|
|
|
Provisions |
4.462
|
3.461 |
0.000
|
|
Total
Current Liabilities |
47.684
|
117.506 |
26.957
|
|
|
Net Current Assets |
153.849
|
114.644 |
91.282
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.023 |
|
|
|
|
|
|
|
|
TOTAL |
241.355 |
174.806 |
148.744 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Trading Sales |
217.599 |
231.412 |
119.689 |
|
|
|
Other Income |
0.241 |
0.126 |
0.000 |
|
|
|
TOTAL |
217.840 |
231.538 |
119.689 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
118.911 |
185.369 |
111.458 |
|
|
|
Manufacturing service costs |
0.000 |
0.000 |
0.000 |
|
|
|
Employee related expenses |
9.267 |
6.810 |
0.000 |
|
|
|
Administrative selling other expenses |
62.418 |
21.675 |
0.000 |
|
|
|
Increased / (Decreased) In Stock |
0.000 |
0.000 |
(9.764) |
|
|
|
TOTAL |
190.596 |
213.854 |
101.694 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
27.244 |
17.684 |
17.995 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
17.158 |
10.455 |
7.862 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.086 |
7.229 |
10.133 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
1.182 |
0.930 |
0.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
8.904 |
6.299 |
9.182 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.041 |
1.083 |
3.329 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.863 |
5.216 |
5.854 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.13 |
0.08 |
0.13 |
|
Expected Sales (2011-2012) : Rs.400.000 Millions
The above information has been parted by Mr. Namder (Accounts Head)
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
|
Net Sales |
78.040 |
81.960 |
116.210 |
|
Total Expenditure |
68.680 |
68.360 |
98.390 |
|
PBIDT (Excl OI) |
9.360 |
13.600 |
17.820 |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
9.360 |
13.600 |
17.820 |
|
Interest |
5.500 |
5.700 |
7.810 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
3.860 |
7.900 |
10.010 |
|
Depreciation |
1.450 |
3.200 |
1.670 |
|
Profit Before Tax |
2.410 |
4.700 |
8.340 |
|
Tax |
0.320 |
1.180 |
2.500 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
2.090 |
3.530 |
5.850 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
2.090 |
3.530 |
5.850 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.61
|
2.25 |
4.89
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.09
|
2.72 |
7.67
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.50
|
2.21 |
5.46
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.07 |
0.11
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.14
|
2.42 |
1.37
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.22
|
1.97 |
4.38
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
OPERATIONS AND
PERFORMANCE:
During the year ended 31st March, 2011, the Company achieved a total income aggregating to Rs. 217.840 Millions as compared to Rs.231.537 Millions during the previous year ended 31st March, 2008. After providing for Depreciation, Finance Charges and Taxation, the Company has registered a profit before tax of Rs. 9.182 Millions which has been carried to the Balance sheet.
Although the Company maintains adequate internal control systems covering all its operation areas. The Directors are putting in their efforts and are hopeful of improved working during the years to come.
Barring unforeseen circumstances, the Directors are confident of achieving better results in the ensuing year.
FORM 8:
|
Corporate
identity number of the company |
L29220MH1982PLC027046 |
|
Name of the
company |
MAGICUT TOOLS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Survey No.26, E-Mail: info@magicut.net |
|
This form is for |
Creation of
charge |
|
Charge
identification number of the modified |
10096396 |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Punjab National Bank, Goregaon (East) Branch, 8 Cama Industrial
Estate, E-Mail: emailroc@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Charge on Truck
Model No. LPT 709 EX2/HD of Tata Company. |
|
Date of
instrument Creating the charge |
30/11/2011 |
|
Amount secured by
the charge |
Rs.0.700 million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 15.50% Terms of
Repayment: Monthly
installment of Rs.8334/- plus interest calculated @ 15.50% Margin: 25% Extent and
Operation of the charge: Hypothecation Of
Assets To Secure Term Loans |
|
Short particulars
of the property charged |
Truck Model No.
LPT 709 EX2/HD of Tata Company. |
|
Corporate
identity number of the company |
L29220MH1982PLC027046 |
|
Name of the
company |
MAGICUT TOOLS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Survey No.26, E-Mail: info@magicut.net |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10096396 |
|
Type of charge |
Book Debts Movable Property Others (Plant and
machineries, stocks etc.) |
|
Particular of
charge holder |
Punjab National Bank, Goregaon (East) Branch, 8 Cama Industrial
Estate, E-Mail: emailroc@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
14.08.2010 |
|
Amount secured by
the charge |
Rs.162.033
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest rate and
Penal interest rate as agreed between the borrower company and the bank from
time to time. Terms of
Repayment: Repayment, as
agreed between the borrower company and the bank from time to time. Margin: Margin Rate, as
agreed between the borrower company and the bank from time to time. Extent and
Operation of the charge: At the request of
the borrower company, the bank has enhanced overall banking limits upto
Rs.162.033 millions against Hypothecation of Existing Plant and Machinery,
Plant and Machineries to be acquired, all the borrowers moveable assets like
stocks of raw materials, stocks in process, finished goods, consumables,
stores, spares and packing material etc. The Charge stands
modified upto Rs.162.033 millions. |
|
Short particulars
of the property charged |
Existing Plant
and Machinery Plant and
Machineries to be acquired All the borrower moveable
assets like stocks of raw materials, stocks in process, finished goods,
consumables, stores, spares and packing material etc. All the borrowers
present, future book debts etc. |
|
Particulars of
the present modification |
At the request of
the borrower company, the bank has enhanced overall banking limits upto
Rs.162.033 millions against Hypothecation of Existing Plant and Machinery,
Plant and Machineries to be acquired, all the borrowers moveable assets like
stocks of raw materials, stocks in process, finished goods, consumables,
stores, spares and packing material etc. The Charge stands
modified upto Rs.162.033 millions. |
FIXED ASSETS:
v
v Building
v Plant and Machinery
v Electrical Installation
v Laboratory Equipments
v Furniture and Fixtures
v Cutters and Accessories
v Factory Equipments
v Office Equipments
v Air Condition
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.51.54 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.56 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.