BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
APPL INDUSTRIES LIMITED |
Principal Name 1 |
MR. INDER PRAKASH JAIN |
|
Status |
SATISFACTORY |
Principal Name 2 |
MRS. ASHA JAIN |
|
|
|
Registration # |
55-109315 |
|
Street Address |
F-169, |
||
|
Established Date |
22.01.2001 |
SIC Code |
-- |
|
Telephone# |
91-11-25193078 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
NOT AVAILABLE |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
ENGINEERING THERMOPLASTICS |
|
|
# of employees |
250 (APPROXIMATELY) |
Product Name 2 |
-- |
|
Paid up capital |
RS.211,303,320/- |
Product Name 3 |
-- |
|
Shareholders |
BODIES CORPORATE-4% DIRECTORS OR RELATIVES OF DIRECTORS-96% |
Banking |
STANDARD
CHARTERED BANK |
|
Public Limited Corp. |
NO |
Business Period |
11 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
SUBSIDIARIES |
-- |
SANSKRITI CALLNET PRIVATE LIMITED |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
418,509,000
|
Current Liabilities |
247,481,000
|
|
Inventories |
215,315,000
|
Long-term Liabilities |
659,478,000 |
|
Fixed Assets |
680,450,000 |
Other Liabilities |
44,682,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
951,641,000 |
|
Invest& other Assets |
72,079,000 |
Retained Earnings |
223,409,000 |
|
|
|
Net Worth |
434,712,000 |
|
Total Assets |
1,386,353,000 |
Total Liab. & Equity |
1,386,353,000 |
|
Total Assets (Previous Year) |
1,049,458,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
2,018,754,000 |
Net Profit |
65,787,000 |
|
Sales(Previous yr) |
1,452,403,000 |
Net Profit(Prev.yr) |
54,920,000 |
MIRA
INFORM REPORT
|
Report Date : |
20.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
APPL INDUSTRIES LIMITED |
|
|
|
|
Formerly Known
As : |
AALEKH POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-169, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.01.2001 |
|
|
|
|
Com. Reg. No.: |
55-109315 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.211.303 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999DL2001PLC109315 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA18328C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA1026J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Engineering Thermoplastics. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1739000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The
company is progressing well. Trade relations are reported as fair. Business is
active. Payments are reported to be slow but correct. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
F-169, |
|
Tel. No.: |
91-11-25193078 |
|
Mobile No.: |
91-9871795854 (Mr. Sanjay Agarwal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
680/2, |
|
Tel. No.: |
91-2137-253195 / 96 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No.2, Sector 7, Industrial Estate, IMT Manesar, Gurgaon – 122
050, |
|
Tel. No.: |
91-124-4368231 |
|
Fax No.: |
91-124-4368234 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Inder Prakash Jain |
|
Designation : |
Managing Director |
|
Address : |
55, |
|
Date of Birth/Age : |
11.08.1961 |
|
Date of Appointment : |
01.06.2006 |
|
DIN No.: |
00273038 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74999DL2001PLC109315 |
APPL
Industries Limited |
Managing
director |
01-06-11 |
01-06-06 |
Active |
NO |
|
2 |
U72300DL2007PTC164316 |
Sanskriti
Callnet Private Limited |
Director |
30-12-08 |
30-12-08 |
Active |
NO |
|
3 |
U25200PN2010PTC135320 |
APPL
GOR Plastics India Private Limited |
Managing
director |
11-02-10 |
14-01-10 |
Active |
NO |
|
4 |
U25206PN2011PTC140491 |
Autodynamic
Engineering Private Limited |
Director |
17-08-11 |
17-08-11 |
Active |
NO |
|
Name : |
Mrs. Asha Jain |
|
Designation : |
Director |
|
Address : |
55, |
|
Date of Birth/Age : |
12.05.1962 |
|
Date of Appointment : |
22.01.2001 |
|
DIN No.: |
00272963 |
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 |
U74999DL2001PLC109315 |
APPL
Industries Limited |
Director |
22-01-01 |
22-01-01 |
- |
Active |
NO |
|
2 |
U72300DL2007PTC164316 |
Sanskriti
Callnet Private Limited |
Director |
30-12-08 |
30-12-08 |
- |
Active |
NO |
|
3 |
U25200PN2010PTC135320 |
APPL
GOR Plastics India Private Limited |
Director |
14-01-10 |
14-01-10 |
21-07-10 |
Active |
NO |
|
Name : |
Mr. Jeevan Shantaram Karkhanis |
|
Designation : |
Director |
|
Address : |
D-804, Imperial Residency, Adjacent to |
|
Date of Birth/Age : |
05.10.1952 |
|
Date of Appointment : |
23.08.2007 |
|
DIN No.: |
01412714 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74999DL2001PLC109315 |
APPL
Industries Limited |
Director |
28-09-07 |
23-08-07 |
Active |
NO |
|
2 |
U25191PN2012PTC142044 |
Arista
Moulding Private Limited |
Director |
24-01-12 |
24-01-12 |
Active |
NO |
|
Name : |
Mr. Aalekh Jain |
|
Designation : |
Director |
|
Address : |
55, |
|
Date of Birth/Age : |
27.10.1986 |
|
Date of Appointment : |
30.04.2007 |
|
DIN No.: |
01024820 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74999DL2001PLC109315 |
APPL
Industries Limited |
Director |
28-09-07 |
30-04-07 |
Active |
NO |
|
2 |
U25200PN2010PTC135320 |
APPL
GOR Plastics India Private Limited |
Director |
12-07-11 |
21-07-10 |
Active |
NO |
|
Name : |
Mr. Rajeev Shyamrao Basargekar |
|
Designation : |
Additional director |
|
Address : |
C-9/14, Sarita Nagari, Phase – II, SN 119/1, |
|
Date of Birth/Age : |
09.09.1956 |
|
Date of Appointment : |
02.05.2011 |
|
DIN No.: |
03508478 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74999DL2001PLC109315 |
APPL
Industries Limited |
Additional
director |
02-05-11 |
02-05-11 |
Active |
NO |
|
2 |
U25200PN2010PTC135320 |
APPL
GOR Plastics India Private Limited |
Director |
12-07-11 |
13-05-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Gupta |
|
Designation : |
Secretary |
|
Address : |
Flat No. A-101, Karam Hi Dharam Apartment, Sector – 55, Gurgaon – 122
001, |
|
Date of Birth/Age : |
30.08.1961 |
|
Date of Appointment : |
01.06.2006 |
|
PAN No.: |
ABTPG1201D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Inder P. Jain |
|
14798730 |
|
Asha Jain |
|
3177772 |
|
Yoginder Nath Sharma |
|
160 |
|
Jain and Company, |
|
60400 |
|
Aalekh Jain |
|
1040000 |
|
Anurag Jain |
|
912000 |
|
Inder Jain and Sons (HUF) |
|
588400 |
|
Vinod Sikka |
|
160 |
|
T. P. Mathew |
|
160 |
|
Decent Computers Private Limited, |
|
552550 |
|
Aviva Paper and Pulp Private Limited, |
|
30000 |
|
Tushar India Private Limited, |
|
25000 |
|
Vishwanidhi Chemicals Private Limited, |
|
15000 |
|
Lancer Construction Private Limited, |
|
15000 |
|
Kesri Lab Electronics Private Limited, |
|
20000 |
|
Performance Builders Private Limited, |
|
15000 |
|
Performance Systems Power Private Limited,
|
|
25000 |
|
Dreamland Solutions Private Limited, |
|
20000 |
|
Kesri Industries Lab Private Limited, |
|
15000 |
|
Meghdhoot Express Private Limited, |
|
15000 |
|
Instent Construction Private Limited, |
|
15000 |
|
Total |
|
21340332 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage of Holding |
|
Bodies corporate |
|
4.00 |
|
Directors
or relatives of directors |
|
96.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Engineering Thermoplastics. |
|
|
|
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Compound |
Kg |
52000000 |
20047484.23 |
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Standard Chartered Bank, Credit Risk Control,
H-2, Connaught Circus, ·
CITI Bank N.A., ·
Standard Chartered Bank, Credit Risk
Control, Narain Manzil, ·
ICICI Bank Limited, |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Kumar Jain and Associates Chartered Accountants |
|
Address : |
2481/9, 2nd Floor, |
|
Tel. No.: |
91-11-28756307 / 28758294 |
|
PAN No.: |
AALPJ6405D |
|
|
|
|
Subsidiaries : |
Sanskriti
Callnet Private Limited CIN No.: U72300DL2007PTC164316 |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21340332 |
Equity Shares |
Rs.10/- each |
Rs.213.403
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21130332 |
Equity Shares |
Rs.10/- each |
Rs.211.303
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 |
211.303 |
211.303 |
205.767 |
|
|
2] Share Application Money |
0.000 |
0.000 |
18.955 |
|
|
3] Reserves & Surplus |
223.409 |
157.621 |
52.882 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
434.712 |
368.924 |
277.604 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
582.441 |
426.417 |
386.621 |
|
|
2] Unsecured Loans |
77.037 |
74.396 |
32.496 |
|
|
TOTAL BORROWING |
659.478 |
500.813 |
419.117 |
|
|
DEFERRED TAX LIABILITIES |
44.764 |
34.964 |
26.709 |
|
|
|
|
|
|
|
|
TOTAL |
1138.954 |
904.701 |
723.430 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
680.450 |
552.956 |
410.012 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
71.977 |
43.616 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
215.315
|
102.942
|
75.154 |
|
|
Sundry Debtors |
330.527
|
308.000
|
230.186 |
|
|
Cash & Bank Balances |
28.447
|
2.230
|
40.388 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
59.535
|
39.599
|
30.818 |
|
Total
Current Assets |
633.824
|
452.771
|
376.546 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
211.118
|
|
56.852 |
|
|
Current Liabilities |
36.363
|
9.704
|
|
|
|
Provisions |
(0.082)
|
24.081
|
6.403 |
|
Total
Current Liabilities |
247.399
|
144.757
|
63.255 |
|
|
Net Current Assets |
386.425
|
308.014
|
313.291 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.102 |
0.115 |
0.127 |
|
|
|
|
|
|
|
|
TOTAL |
1138.954 |
904.701 |
723.430 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2018.754 |
1452.403 |
1148.860 |
|
|
|
Other Income |
23.064 |
11.584 |
2.726 |
|
|
|
TOTAL (A) |
2041.818 |
1463.987 |
1151.586 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1642.589 |
1140.405 |
1048.767 |
|
|
|
Manufacturing service costs |
133.211 |
97.733 |
|
|
|
|
Administrative selling other expenses |
106.767 |
88.863 |
|
|
|
|
TOTAL (B) |
1882.567 |
1327.001 |
1048.767 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
159.251 |
136.986 |
102.819 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
54.367 |
36.305 |
29.297 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
104.884 |
100.681 |
73.522 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.483 |
12.074 |
8.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
90.401 |
88.607 |
64.617 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H)
|
24.613 |
33.687 |
23.132 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
65.787 |
54.920 |
41.485 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
107.802 |
52.882 |
88.560 |
|
|
|
|
|
|
|
|
|
Less |
Bonus Shares
Issued |
0.000 |
0.000 |
77.163 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
173.589 |
107.802 |
52.882 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
- Raw Materials |
117.345 |
175.039 |
114.189 |
|
|
|
- Capital Goods & Spares |
17.010 |
59.988 |
51.416 |
|
|
|
TOTAL IMPORTS |
134.355 |
235.027 |
165.605 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.59 |
2.88 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.22
|
3.75
|
3.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.48
|
6.10
|
5.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.88
|
8.81
|
8.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.24
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.09
|
1.95
|
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.56
|
3.13
|
5.95 |
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 |
No |
|
10) Designation of
contact person |
No |
|
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 |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
Yes |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
No |
|
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 |
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 |
CHANGE OF ADDRESS:
Registered office of the company has been shifted from D-114,
OPERATIONS:
The company has
achieved turnover Rs.2018.800 Millions as compare to previous year Rs.1452.400
Millions Profit before tax increase to Rs.90.400 Millions as compare to
previous year Rs.88.600 Millions Net Profit after interest, depreciation and
tax shows improvement from Rs.54.900 Millions to Rs.65.800 Millions This could
be possible only by extra marketing effort of the company. However still the
company has to go a long way in exploiting the market by introduction of its
products to new markets.
The operating
results are very good. However the company shows its inability to declare any
dividend as the expansion of turnover rather requires more funds.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10274629 |
|
Corporate
identity number of the company |
U74999DL2001PLC109315 |
|
Name of the
company |
APPL INDUSTRIES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
F-169, E-mail : applmsr@airtelmail.in
|
|
Type of charge |
Book debts Others (Stocks, Plant and Machinery,
Office Equipment, Furniture and Fixtures) |
|
Particular of
charge holder |
Citibank N.A, E-mail : roc@sdoa.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
modification for Goods Security Agreement. |
|
Date of
instrument Creating the charge |
03.11.2011 |
|
Amount secured by
the charge |
Rs.120.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: As per sanction
terms and as may be decided by the bank and company mutually from time to
time. Terms of
Repayment : Repayable on
demand, annually renewable. Margin : Borrower shall at
all times during the continuance of the security maintain a sufficient amount
to provide the margin of security as may from time to time advised by the
bank. Extent and Operation
of the charge : First pari-passu
charge on the current assets (including stocks and book debts) and movable
fixed assets (including plant and machinery, office equipment, furniture and
fixtures, etc.) of the borrower both present and future in favour of Citibank
N.A Delhi for the repayment of all monies in respect of the credit facility,
including outstanding balance and also all interest, costs charges and
expenses. |
|
Short particulars
of the property charged |
Current assets (including
stocks and book debts) and movable fixed assets (including plant and
machinery, office equipment, furniture and fixtures, etc.) of the borrower
both present and future. |
|
Date of
instrument modifying the charge |
28.03.2011 |
|
Particulars of the
present modification |
By this
modification the overall limit is enhanced from Rs.90.000 Millions to
Rs.120.000 Millions and the charge is secured by first pari-passu charge on
the current assets (including stocks and book debts) and movable fixed assets
(including plant and machinery, office equipment, furniture and fixtures,
etc.) of the borrower both present and future. |
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.51.89 |
|
|
1 |
Rs.83.18 |
|
Euro |
1 |
Rs.68.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.