1. Summary Information
|
|
|
Country |
India |
|
Company Name |
MAHESWARI BROTHERS COAL LIMITED |
Principal Name 1 |
Mr. Hariprasad Reddy Duvvuru |
|
Status |
Moderate |
Principal Name 2 |
Mr. Santosh Agarwal |
|
|
|
Registration # |
01-013774 |
|
Street Address |
H No.1-81, Ganpati Nivas, Srinivasa Nagar, N.C. S Road,
Vizianagaram-535001, Andhra Pradesh |
||
|
Established Date |
29.01.1992 |
SIC Code |
-- |
|
Telephone# |
91-8922-227781 |
Business Style 1 |
Importer |
|
Fax # |
91-8922-227781 |
Business Style 2 |
Supplier |
|
Homepage |
Product Name 1 |
Coal |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 25,567,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate – 65.33% Directors or
relatives of Directors – 23.64% Other top fifty shareholders –
11.03% |
Banking |
ICICI Bank
Limited |
|
Public Limited Corp. |
No |
Business Period |
20 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
B (39) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries
|
India
|
Satsoft (India) Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,420,278,000 |
Current Liabilities |
1,311,731,000 |
|
Inventories |
201,016,000 |
Long-term Liabilities |
54,981,000 |
|
Fixed Assets |
25,672,000 |
Other Liabilities |
10,987,000 |
|
Deferred Assets |
0,0000 |
Total Liabilities |
1,377,699,000 |
|
Invest& other Assets |
6,879,000 |
Retained Earnings |
135,471,000 |
|
|
|
Net Worth |
167,538,000 |
|
Total Assets |
1,653,845,000 |
Total Liab. & Equity |
1,545,237,000 |
|
Total Assets (Previous Year) |
901,591,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
4,868,292,000 |
Net Profit |
18,166,000 |
|
Sales(Previous yr) |
2,159,627,000 |
Net Profit(Prev.yr) |
25,639,000 |
|
Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAHESWARI BROTHERS COAL LIMITED |
|
|
|
|
Formerly Known
As : |
MAHESWARI COAL SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H No.1-81, Ganpati Nivas, Srinivasa Nagar, N.C. S Road,
Vizianagaram-535001, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
29.01.1992 |
|
|
|
|
Com. Reg. No.: |
01-013774 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 25.567 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209AP1992PLC013774 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer, Supplier and Service Provider of Coal and Coal Logistic
Services |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 670000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The
management have fail to file the financial for the year 2011. However from
the previous year record the company financial performance seem to be
satisfactory. Trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB+ / Stable (Long Term Rating) |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation. It carry moderate credit risk. |
|
Date |
26.02.2010 |
|
Rating Agency Name |
CRISIL |
|
Rating |
P2 (Short Term Rating) |
|
Rating Explanation |
Having strong degree of safety regarding timely payment of financial
obligation. It carry low credit risk. |
|
Date |
26.02.2010 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
H No.1-81, Ganpati Nivas, Srinivasa Nagar, N.C. S Road,
Vizianagaram-535001, Andhra Pradesh, India |
|
Tel. No.: |
91-8922-227781 |
|
Fax No.: |
91-8922-227781 |
|
E-Mail : |
|
|
|
|
|
Admin Office : |
4th Floor, Mandhani Complex, Rajbhavan Road, Somajigupta,
Hyderabad-500082, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23408908 / 23410936 / 23403945 |
|
Fax No.: |
91-40-23408849 / 23410090 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Rajkumar Mandhani |
|
Designation : |
Director |
|
Address : |
7, Temple Street, New Avadi Road, Kilpauk, Chennai-600010 |
|
Date of Birth/Age : |
04.02.1957 |
|
Date of Appointment : |
29.01.1992 |
|
Date of Cessation : |
14.05.2012 |
|
DIN No.: |
02104405 |
|
|
|
|
Name : |
Mr. Ashok Kumar Mandhani |
|
Designation : |
Director |
|
Address : |
Ganpati Nivas, 1-81, Behind NCS Theatre, Viziangaram-535003, Andhra
Pradesh, India |
|
Date of Birth/Age : |
16.09.1967 |
|
Date of Appointment : |
29.01.1992 |
|
Date of Cessation : |
14.05.2012 |
|
DIN No.: |
00544070 |
|
|
|
|
Name : |
Mr. Amit Mandhani |
|
Designation : |
Director |
|
Address : |
30-11-11, Opposite Income Tax Building, Daba Gardens,
Vishkhapatnam-530020, India |
|
Date of Birth/Age : |
16.09.1979 |
|
Date of Appointment : |
01.08.2005 |
|
Date of Cessation : |
14.05.2012 |
|
DIN No.: |
00544006 |
|
|
|
|
Name : |
Mr. Santosh Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
36-673-204, SMR Residency, St No.10, Himayathnagar, Hyderabad-500029, Andhra
Pradesh, India |
|
Date of Birth/Age : |
12.08.1964 |
|
Date of Appointment : |
01.08.2005 |
|
DIN No.: |
01686337 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U70910MH1985PTC037589 |
VIDARBHA
ENTERPRISES PRIVATE LIMITED |
Director |
01/06/2005 |
01/06/2005 |
Active |
NO |
|
2 |
U23209AP1992PLC013774 |
MAHESWARI
BROTHERS COAL LIMITED |
Director |
01/08/2005 |
01/08/2005 |
Active |
NO |
|
3 |
U14102GA1996PLC002109 |
SCORPIO
IRON LIMITED |
Director |
02/06/2010 |
02/06/2010 |
Active |
NO |
|
Name : |
Mr. Hariprasad Reddy Duvvuru |
|
Designation : |
Director |
|
Address : |
72, New Avadi Road, Kurunchi apartments, 3rd Floor, Kilpuk,
Chennai-600010, Tamilnadu, India |
|
Date of Birth/Age : |
02.06.1966 |
|
Date of Appointment : |
27.02.2012 |
|
DIN No.: |
00851833 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51420TN2001PLC046891 |
STEEL
EXCHANGE CHENNAI LIMITED |
Director |
30/03/2001 |
30/03/2001 |
Active |
NO |
|
2 |
U51420TN2005PTC055327 |
MILLENIUM
STEEL INDIA PRIVATE LIMITED |
Managing
director |
02/03/2005 |
09/02/2005 |
Active |
NO |
|
3 |
U27106TN2007PTC062430 |
CHENNAI
STEELS PRIVATE LIMITED |
Managing
director |
14/03/2007 |
20/02/2007 |
Active |
NO |
|
4 |
U27104TN1995PLC032226 |
SIGNET
STEELS LIMITED |
Additional
director |
14/06/2010 |
14/06/2010 |
Active |
NO |
|
5 |
U72900DL2009PTC188599 |
MOBIFUSION
TECHNOLOGIES PRIVATE LIMITED |
Additional
director |
22/03/2011 |
22/03/2011 |
Active |
NO |
|
6 |
U23209AP1992PLC013774 |
MAHESWARI
BROTHERS COAL LIMITED |
Director |
27/02/2012 |
27/02/2012 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Raj Kumar Mandhani |
85700 |
|
Bijay Kumar Mandhani |
69100 |
|
Ashok Kumar Mandhani |
22600 |
|
Amit Kumar Mandhani |
150000 |
|
Anju Devi Mandhani |
73500 |
|
Nirmala Devi Mandhani |
203500 |
|
D Hari Prasad Reddy |
200000 |
|
Santosh Kumar Agarwal |
6490 |
|
Abhishek Dealer Private Limited, India |
50000 |
|
Caplin Dealer Private Limited, India |
40000 |
|
Kiwi Dealers Private Limited, India |
10000 |
|
Madhuban Dealers Private Limited, India |
20000 |
|
Mainstream Commercial Private Limited, India |
20000 |
|
Matrix Vintrade Private Limited, India |
50000 |
|
Murthi Trading Private Limited, India |
20000 |
|
Piyush Barter Private Limited, India |
70000 |
|
Sonchiri Commercial Private Limited, India |
50000 |
|
Spotlight Suppliers Private Limited, India |
50000 |
|
Variety Retails Private Limited, India |
30000 |
|
Vasundhra Barter Private Limited, India |
50000 |
|
Inder Singh |
38 |
|
K V Skariah |
36710 |
|
Rattan Sing Shekhawat |
38184 |
|
Sandeep Gill |
769 |
|
Mandhani Securities Limited, India |
610144 |
|
Sat Soft (India) Private Limited, India |
400000 |
|
Aravali Goods and Suppliers Private Limited, India |
200000 |
|
TOTAL
|
2556735 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
65.33 |
|
Directors or relatives of Directors |
23.64 |
|
Other top fifty shareholders |
11.03 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer, Supplier and Service Provider of Coal and Coal Logistic
Services |
GENERAL INFORMATION
|
Suppliers : |
·
Ace Commercial Company Private Limited ·
Anand Transport ·
Adani Global Pet Limited ·
Bindal Sponge Limited ·
Flame S.A ·
Goa Sponge and Power Limited ·
Geo Chem Laboratories Limited ·
Maheshwari Brothers ·
M C S Holding Pte Limited ·
R V Minerals ·
Sampath Vinayak Steels Private Limited ·
SGS India Private Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
·
Agarwal Coal Company ·
Ambey Iron Private Limited ·
Gupta Coal (India) Limited ·
BGH Exim Limited ·
Maruti Ispat ·
Rajul Textile Private Limited ·
Rama News Print and Paper Limited ·
R R Rerolling Mills ·
National Aluminium Company Limited ·
Kundil Sponge Iron Private Limited ·
Hariyana Steel and Power Limited ·
Priyanka Enterprises ·
Vanya Steels (Private) Limited ·
Yeshasvi Steels and Alloys Private Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
The Karur Vysya Bank Limited, Central Loan Processing
Cell, Chirag Ali Lane, Abids, Hyderabad-500001, Andhra Pradesh, India ·
ICICI Bank Limited, ICICI Bank Towers, 1-11-256,
Begumpet, Level-IV, Hyderabad-500016, Andhra Pradesh, India ·
Kotak Mahindra Bank Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
E. R. Somayajulu Chartered Accountant |
|
Address : |
Srirama – Kothagraharam, 3rd Lane, Vizianagaram-535001,
Andhra Pradesh, India |
|
Tel. No.: |
91-8922-226343 / 222343 / 222334 |
|
PAN No.: |
AAAPE9890J |
|
|
|
|
Subsidiaries : |
Satsoft (India) Private Limited CIN No.:- U72200AP1996PTC051403 |
|
|
|
|
Other Related Parties : |
·
Maheswari Bothers ·
Mandhani Carries Private Limited ·
Maheswari Agencies ·
Maheswari Commercial Corporation ·
Mandhani Securities Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2556735 |
Equity Shares |
Rs.10/- each |
Rs. 25.567
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
25.567 |
12.909 |
12.909 |
|
|
2] Share Application Money |
6.500 |
19.500 |
9.500 |
|
|
3] Reserves & Surplus |
135.471 |
77.705 |
52.066 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
167.538 |
110.114 |
74.475 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
54.981 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
54.981 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.187 |
0.047 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
222.706 |
110.161 |
74.475 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
25.672 |
21.195 |
1.591 |
|
|
Capital work-in-progress |
4.121 |
0.288 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.758 |
0.000 |
3.643 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
201.016
|
433.924 |
156.011 |
|
|
Sundry Debtors |
981.169
|
328.396 |
142.783 |
|
|
Cash & Bank Balances |
365.466
|
90.747 |
102.608 |
|
|
Other Current Assets |
21.707
|
0.083 |
0.028 |
|
|
Loans & Advances |
51.936
|
26.958 |
41.072 |
|
Total
Current Assets |
1621.294
|
880.108 |
442.502 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1366.035
|
754.670 |
342.252 |
|
|
Other Current Liabilities |
54.304
|
22.690 |
20.328 |
|
|
Provisions |
10.800
|
14.070 |
10.681 |
|
Total
Current Liabilities |
1431.139
|
791.430 |
373.261 |
|
|
Net Current Assets |
190.155
|
88.678 |
69.241 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
222.706 |
110.161 |
74.475 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4868.292 |
2159.627 |
1112.550 |
|
|
|
Other Income |
18.839 |
33.784 |
8.933 |
|
|
|
TOTAL |
4887.131 |
2193.411 |
1121.483 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
4807.321 |
2123.141 |
1069.461 |
|
|
|
Salaries, Wages and Staff Welfare |
3.535 |
2.932 |
2.139 |
|
|
|
Marketing and Selling Expenses |
0.394 |
0.574 |
0.135 |
|
|
|
Administrative Expenses |
38.124 |
20.873 |
10.797 |
|
|
|
Audit Fees |
0.150 |
0.011 |
0.011 |
|
|
|
Directors Remuneration |
5.400 |
5.400 |
3.780 |
|
|
|
TOTAL |
4854.924 |
2152.931 |
1086.323 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
32.207 |
40.480 |
35.160 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.596 |
0.797 |
0.325 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
30.611 |
39.683 |
34.835 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.445 |
14.044 |
12.219 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
18.166 |
25.639 |
22.616 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
53.722 |
28.083 |
5.467 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
71.888 |
53.722 |
28.083 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.11 |
19.86 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.37
|
1.17 |
2.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.63
|
1.84 |
3.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.86
|
4.40 |
7.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.36 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.87
|
7.19 |
5.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.11 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
FORM 8
|
Corporate
identity number of the company |
U23209AP1992PLC013774 |
|
Name of the
company |
MAHESWARI
BROTHERS COAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
H No.1-81, Ganpati Nivas, Srinivasa Nagar, N.C. S Road, Vizianagaram-535001, Andhra Pradesh, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10061885 |
|
Type of charge |
·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
The Karur Vysya Bank Limited, Central Loan Processing Cell, Chirag Ali Lane, Abids, Hyderabad-500001, Andhra Pradesh, India |
|
Nature of
instrument creating charge |
1.
Agreement
for Hypothecation of Goods Received Under Letter of Credit 2.
Agreement
For Inland Letter of Credit (For Full Limit) 3.
Forward
Contracts Agreement 4.
Agreement
for Interchangeability of Various Limits Sanctioned 5.
Omnibus
Counter Guarantee |
|
Date of
instrument Creating the charge |
28.05.2010 |
|
Amount secured by
the charge |
Rs. 450.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Commission
charges as applicable from time to time. Terms of repayment One year.
Renewable from time to time. Margin 15% For FLC
Limits Extent and operation of the charge The charge
operates as security, inter alia, for the due repayment by the company to The
Karur Vysya Bank Limited for FLC limit of Rs.400.000 Millions (sub-limit of
ILC/BG limit of Rs.150.000 Millions) and CEL limit of Rs.50.000 Millions,
total limit of Rs. 450.000 Millions, together with interest, additional
interest, liquidated damages, commitment charges, premia on prepayment or on
redemption, costs, charges, expenses and all other moneys payable by the
company to The Karur Vysya Bank Limited. |
|
Short particulars
of the property charged (Including location of the property) |
Application Cum
Agreement and Hypothecation of Goods Received Under LC and Lien on 15% Cash
Margin Deposit. Collateral and
Personal Guarantees of Directors and Others. |
|
Particulars of
the present modification |
FLC Limit of Rs.
200.000 Millions Enhanced to Rs. 400.000 Millions (With Sub-Limit of ILC/BG
With Option of Interchangeability of Limit) And New Credit Equivalent Limit
For Booking Forward Purchase Contacts of Rs.50.000 Millions Has Been Granted. Thus Overall
Limits Enhanced From Rs. 200.000 Millions to 450.000 Millions. |
FIXED ASSETS
·
Furniture and Fixtures
·
Land Building
·
Computer, Printer and
Software
·
Office Equipments
·
Vehicles – Two Wheelers
·
Vehicles – Motor Cars
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. 56.08 |
|
|
1 |
Rs. 87.02 |
|
Euro |
1 |
Rs. 68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
39 |
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 |
- |