MIRA
INFORM REPORT
|
Report Date : |
23.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
OSWAL KNIT INDIA LIMITED |
|
|
|
|
Registered
Office : |
Oswal Road, Industrial Area A, Ludhiana – 141003, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
03.11.1992 |
|
|
|
|
Com. Reg. No.: |
16-012689 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.007 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17113PB1992PLC012689 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDO00235E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO1976A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of Denim Fabrics, Ring Yarns,
Open-End Yarns, Slubs, Mixed Warps, Multi-Count Yarns, Coloured Yarns, Indgo
Wool, Woollen Knitwear, T-Shirts, Shirts etc |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 380000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The
company has been successful in wiping off its accumulated losses of previous
year. However, trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments The company can be considered 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 : |
Oswal Road, Industrial Area A, Ludhiana – 141003, Punjab, India |
|
Tel. No.: |
91-161-2224201/2662239 |
|
Fax No.: |
91-161-2224212 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Jangi Lal Oswal |
|
Designation : |
Director |
|
Address : |
B-83, The Mall Civil Lines, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
18.07.1951 |
|
Date of Appointment : |
10.09.1994 |
|
DIN No.: |
00257644 |
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 |
L17115PB1976PLC003702 |
MALWA
COTTON SPINNING MILLS LIMITED |
Managing
director |
01-01-09 |
09-04-80 |
Active |
NO |
|
2 |
U67120MH1980PLC022409 |
OSWEGO
TRADING AND INVESTMENT COMPANY LIMITED |
Director |
16-06-80 |
16-06-80 |
Active |
NO |
|
3 |
U74899DL1991PTC043034 |
S.A.
GROWTH FUND PRIVATE LIMITED |
Director |
14-02-91 |
14-02-91 |
Active |
NO |
|
4 |
U74899DL1991PTC043012 |
RISHI
GROWTH FUND PRIVATE LIMITED |
Director |
14-02-91 |
14-02-91 |
Active |
NO |
|
5 |
U74899DL1991PTC043008 |
NEELAM
GROWTH FUND PRIVATE LIMITED |
Director |
14-02-91 |
14-02-91 |
Active |
NO |
|
6 |
U67120DL1991PTC043009 |
JANGI
GROWTH FUND PRIVATE LIMITED |
Director |
14-02-91 |
14-02-91 |
Active |
NO |
|
7 |
U22219DL1976PTC008056 |
EXCELLENT
PRINTERS PRIVATE LIMITED |
Director |
30-06-93 |
30-06-93 |
Active |
NO |
|
8 |
U00000DL1981PTC012375 |
OSWAL
INTERMEDIATES PRIVATE LIMITED |
Director |
30-06-93 |
30-06-93 |
Active |
NO |
|
9 |
U74899DL1981PTC012376 |
OSWAL
FIBRES PRIVATE LIMITED |
Director |
30-06-93 |
30-06-93 |
Active |
NO |
|
10 |
U74899DL1980PTC010157 |
NORTH
INDIA CARPET COMPANY PRIVATE LIMITED |
Director |
30-06-93 |
30-06-93 |
Active |
NO |
|
11 |
U24232DL1981PTC012374 |
JAGDAMBA
CHEMICALS PRIVATE LIMITED |
Director |
30-06-93 |
30-06-93 |
Active |
NO |
|
12 |
U17113PB1992PLC012689 |
OSWAL
KNIT INDIA LIMITED |
Director |
10-09-94 |
10-09-94 |
Active |
NO |
|
13 |
U17219PB1993PLC013187 |
MALWA
INDUSTRIES LIMITED |
Director |
30-11-96 |
30-11-96 |
Active |
NO |
|
14 |
U72900PB1999PLC022121 |
OSWAL
MULTIMEDIA K. I. D. LIMITED |
Director |
07-01-99 |
07-01-99 |
Active |
NO |
|
15 |
U00000PB2003PLC026430 |
OSWAL
CORP LIMITED |
Director |
07-10-03 |
07-10-03 |
Active |
NO |
|
16 |
U00000PB2003PLC026431 |
MALWA
CORP LIMITED |
Director |
07-10-03 |
07-10-03 |
Active |
NO |
|
17 |
U15203PB1992PLC012647 |
OSWAL
EXIM TRADE LIMITED |
Director |
03-04-06 |
03-04-06 |
Active |
NO |
|
Name : |
Mr. Anand Kumar Verma |
|
Designation : |
Director |
|
Address : |
177, Kailash Hills ,1st Floor, New Delhi, India |
|
Date of Birth/Age : |
01.01.1950 |
|
Date of Appointment : |
28.02.2002 |
|
DIN No.: |
00200565 |
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 |
U74899DL1991PTC046325 |
PALM
INSURANCE BROKERAGE PRIVATE LIMITED |
Director |
07-11-91 |
07-11-91 |
Active |
NO |
|
2 |
U17113PB1992PLC012689 |
OSWAL
KNIT INDIA LIMITED |
Director |
28-02-02 |
28-02-02 |
Active |
NO |
|
Name : |
Mr. Dinesh Gupta |
|
Designation : |
Director |
|
Address : |
179-G, BRS Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
15.05.1958 |
|
Date of Appointment : |
01.12.1994 |
|
DIN No.: |
00481929 |
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 |
U17113PB1992PLC012689 |
OSWAL
KNIT INDIA LIMITED |
Director |
01-12-94 |
01-12-94 |
Active |
NO |
|
2 |
U70101PB1994PTC014638 |
VIDYA
SAGAR ESTATES PRIVATE LIMITED |
Director |
07-10-98 |
07-10-98 |
Active |
NO |
|
3 |
U65921PB1994PLC014688 |
MALWA
CAPITAL AND FINANCE LIMITED |
Director |
07-10-98 |
07-10-98 |
Active |
NO |
|
4 |
U24232DL1981PTC012374 |
JAGDAMBA
CHEMICALS PRIVATE LIMITED |
Director |
28-09-00 |
28-09-00 |
Active |
NO |
|
5 |
U22219DL1976PTC008056 |
EXCELLENT
PRINTERS PRIVATE LIMITED |
Director |
28-09-00 |
28-09-00 |
Active |
NO |
|
6 |
U00000DL1981PTC012375 |
OSWAL
INTERMEDIATES PRIVATE LIMITED |
Director |
28-09-00 |
28-09-00 |
Active |
NO |
|
7 |
U74899DL1981PTC012376 |
OSWAL
FIBRES PRIVATE LIMITED |
Director |
28-09-00 |
28-09-00 |
Active |
NO |
|
8 |
U74899DL1980PTC010157 |
NORTH
INDIA CARPET COMPANY PRIVATE LIMITED |
Director |
28-09-00 |
28-09-00 |
Active |
NO |
|
9 |
U25209PB1991PTC011644 |
SUN
POLYFAB PRIVATE LIMITED |
Director |
30-09-10 |
15-05-10 |
Active |
NO |
|
Name : |
Mr. Hemant Kalia |
|
Designation : |
Director |
|
Address : |
154-G
BRS Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
17.12.1953 |
|
Date of Appointment : |
28.02.2002 |
|
DIN No.: |
00514357 |
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 |
U17219PB1993PLC013187 |
MALWA
INDUSTRIES LIMITED |
Director |
30-06-98 |
30-06-98 |
Active |
NO |
|
2 |
U17113PB1992PLC012689 |
OSWAL
KNIT INDIA LIMITED |
Director |
28-02-02 |
28-02-02 |
Active |
NO |
|
3 |
U18101PB1999PLC022120 |
MALWA
MILLENNIUM DESIGNS LIMITED |
Director |
29-03-04 |
29-03-04 |
Active |
NO |
|
Name : |
Mr. Surinder Kumar Vig |
|
Designation : |
Additional director |
|
Address : |
B XX/119, Sant Nagar Civil Lines, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
07.06.1950 |
|
Date of Appointment : |
23.11.2010 |
|
DIN No.: |
00764596 |
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 |
U65990MH1981PLC023614 |
SHRI
VIJAY VALLABH HOLDINGS LIMITED |
Director |
30-06-93 |
30-06-93 |
Active |
NO |
|
2 |
L74899DL1984PLC019492 |
VARDHMAN
INDUSTRIES LIMITED |
Director |
20-10-99 |
20-10-99 |
Active |
NO |
|
3 |
U17119PB1992PLC012869 |
OSWAL
KNITTING AND SPINNING INDUSTRIES LIMITED |
Director |
28-02-02 |
28-02-02 |
Active |
NO |
|
4 |
L17115PB1976PLC003702 |
MALWA
COTTON SPINNING MILLS LIMITED |
Alternate
director |
31-01-08 |
31-01-08 |
Active |
NO |
|
5 |
U17113PB1992PLC012689 |
OSWAL
KNIT INDIA LIMITED |
Director |
30-09-11 |
23-11-10 |
Active |
NO |
|
Name : |
Mr. Sanjeev Jain |
|
Designation : |
Director |
|
Address : |
Red Cross Bhavan, The Mall, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
23.02.1963 |
|
Date of Appointment : |
05.03.1999 |
|
DIN No.: |
01242929 |
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 |
U17113PB1992PLC012689 |
OSWAL
KNIT INDIA LIMITED |
Director |
05-03-99 |
05-03-99 |
Active |
NO |
|
2 |
U74910PB2004PTC027457 |
HR
HUMAN RESOURCE ALLIANCE PRIVATE LIMITED |
Director |
02-09-04 |
02-09-04 |
Strike
off |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Akhil Oswal |
|
37600 |
|
Jangi Lai Oswal |
|
70100 |
|
Neelam Kumari |
|
40500 |
|
Rishi Oswal |
|
20000 |
|
Rahul Oswal |
|
20000 |
|
Sudha Oswal |
|
37500 |
|
Malwa Cotton Spg Mills
Limited, India |
|
150000 |
|
Punjab Wool Combers
Limited. India |
|
150000 |
|
Jangi Growth Fund Private
Limited, India |
|
180000 |
|
Neelam Growth Fund
Private Limited, India |
|
180000 |
|
Rishi Growth Fund Private
Limited, India |
|
180000 |
|
Maiwa Capital and Finance
Limited, India |
|
800000 |
|
V.S.Growth Fund Private
Limited, India |
|
60000 |
|
Nagdevi Growth Fund
Private Limited, India |
|
15000 |
|
S. A. Growth Fund Private
Limited, India |
|
60000 |
|
Total |
|
2000700 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
88.72 |
|
Directors or relatives of Directors |
11.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Denim Fabrics, Ring Yarns, Open-End
Yarns, Slubs, Mixed Warps, Multi-Count Yarns, Coloured Yarns, Indgo Wool,
Woollen Knitwear, T-Shirts, Shirts etc |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS
As on 31.03.2011
Licensed Capacity:
Not Applicable
Installed
Capacity: Not Feasible
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Hosiery Knitwears |
Pcs. |
214423 |
|
Cotton T-Shirts |
Pcs. |
21635 |
|
Woven Garments/Socks |
Pcs. |
64713 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Punjab National Bank, Large Corporate Branch, R K Road Cheema Chowk,
Ludhiana – 141003, Punjab, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Notes: i) For Term Loan - Primary – First charge on fixed assets of
the company (present and future) ii) For Working Capital -
Primary – First charge on the current assets of the
company. -
Collateral – Charge on fixed assets of the
company (present and future) iii) Personal Guarantee of the promoter Director of the company. iv) Vehicle loan is secured by way of hypothecation of vehicle
purchased against this loan v) Amount due for repayment out of above within one year is Rs.6.432
Million (Previous year Rs.1.640 Millions) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.C. Vasudeva and Company Chartered Accountants |
|
Address : |
B-XIX-220, Rani Jhansi Road, Ghumar Mandi, Ludhiana – 141001, Punjab,
India |
|
Tel. No.: |
91-161-2774527 |
|
Mobile No.: |
91-9815420555 |
|
Fax No.: |
91-161-2771618 |
|
E-Mail : |
|
|
Website: |
|
|
PAN.: |
AABFS5902N |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000700 |
Equity Shares |
Rs.10/- each |
Rs.20.007
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 |
20.007 |
20.007 |
20.007 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
75.199 |
66.216 |
64.979 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
95.206 |
86.223 |
84.986 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
177.403 |
106.170 |
98.253 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
1.555 |
|
|
TOTAL BORROWING |
177.403 |
106.170 |
99.808 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.816 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
272.609 |
193.209 |
184.794 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
107.881 |
75.794 |
69.845 |
|
|
Capital work-in-progress |
0.619 |
0.474 |
0.163 |
|
|
|
|
|
|
|
|
INVESTMENT |
33.413 |
33.413 |
33.413 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
243.297
|
212.243 |
225.538 |
|
|
Sundry Debtors |
233.789
|
208.342 |
246.686 |
|
|
Cash & Bank Balances |
20.935
|
17.934 |
11.313 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
25.757
|
20.751 |
14.874 |
|
Total
Current Assets |
523.778
|
459.270 |
498.411 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
401.024 |
|
|
Other Current Liabilities |
|
|
11.792 |
|
|
Provisions |
8.246
|
5.938 |
7.511 |
|
Total
Current Liabilities |
412.111
|
386.003 |
420.327 |
|
|
Net Current Assets |
111.667
|
73.267 |
78.084 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
19.029 |
10.261 |
3.289 |
|
|
|
|
|
|
|
|
TOTAL |
272.609 |
193.209 |
184.794 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
841.346 |
617.788 |
762.345 |
|
|
|
Other Income |
2.923 |
1.808 |
2.534 |
|
|
|
TOTAL (A) |
844.269 |
619.596 |
764.879 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
559.244 |
395.139 |
555.992 |
|
|
|
Manufacturing Expenses |
110.296 |
72.756 |
68.466 |
|
|
|
Personal Expenses |
36.794 |
24.610 |
33.069 |
|
|
|
Administrative and Other Expenses
|
16.473 |
15.043 |
14.719 |
|
|
|
Selling Expenses |
62.699 |
70.614 |
49.758 |
|
|
|
Miscellaneous Expenditure Written Off |
6.084 |
3.113 |
1.096 |
|
|
|
TOTAL (B) |
791.590 |
581.275 |
723.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
52.679 |
38.321 |
41.779 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.311 |
27.466 |
29.833 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.368 |
10.855 |
11.946 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.901 |
7.855 |
7.837 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.467 |
3.000 |
4.109 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.485 |
1.763 |
0.739 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.982 |
1.237 |
3.370 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(12.783) |
(14.020) |
(17.390) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3.801) |
(12.783) |
(14.020) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
44.650 |
46.194 |
45.171 |
|
|
|
Dyes and Chemicals |
3.842 |
1.551 |
1.338 |
|
|
|
Stores & Spares |
10.355 |
2.774 |
2.948 |
|
|
|
Capital Goods |
24.600 |
3.286 |
7.431 |
|
|
|
Finished Goods |
2.241 |
0.111 |
2.948 |
|
|
TOTAL IMPORTS |
85.688 |
53.916 |
59.836 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.49 |
0.62 |
1.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.06
|
0.20 |
0.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.24
|
0.49 |
0.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.66
|
0.56 |
0.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.03 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.19
|
5.71 |
6.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.19 |
1.19 |
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
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 |
No |
|
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 |
-- |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U17113PB1992PLC012689 |
|
Name of the
company |
OSWAL KNIT INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Oswal Road, Industrial Area A, Ludhiana – 141003, Punjab, India E-mail : okilldh@malwagroup.com
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10215305 |
|
Type of charge |
Immovable property |
|
Particular of charge
holder |
Punjab National Bank, Large Corporate Branch, R K Road Cheema Chowk,
Ludhiana – 141003, Punjab, India E-mail : pnb_lcb@rediffmail.com
|
|
Nature of
instrument creating charge |
Letter of extension
dated 24.01.2012 by Punjab National Bank, Chandigarh Road Ludhiana for
creating equitable mortgage on 14.01.2012 |
|
Date of
instrument Creating the charge |
14.01.2012 |
|
Amount secured by
the charge |
Rs.416.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest BR+3.5% p.a. Terms of
Repayment on demand Margin NIL Extent and
Operation of the charge 100 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Factory land and building 4880 sq yards situated at
B-12-1763, (New ) and 409 (Old) At Industrial Area A
Ludhiana, Punjab, India |
|
Date of
instrument modifying the charge |
09.01.2012 |
|
Particulars of
the present modification |
Equitable
mortgage extended by Punjab National Bank Chandigarh Road Ludhiana in favour
of PNB LCB to their enhanced
facilities of Rs.416.000
Millions in respect of IPS bearing vasika no. 4793 dated 21.05.1993, factory
land and building measuring 4880 sq. Yards situated at B-XIII-1763 (New) and
409(Old) at Industrial Area-A, Ludhiana in the name of the company |
FIXED ASSETS:
·
Land
·
Building
·
Lift
·
Plant and Machinery
·
Generator
·
Boiler
·
Office Equipments
·
Type Writer
·
Weighing Scale
·
Telephone Installation
·
Air Conditioner
·
Cycle
·
Vehicle
·
Computer
·
Tubewell
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.52.00 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.68.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.