MIRA
INFORM REPORT
|
Report Date : |
03.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
FAIRDEAL JUMBO PACKAGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.174 Paiki, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.10.2007 |
|
|
|
|
Com. Reg. No.: |
04-051999 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199GJ2007PTC051999 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMF00510G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCF1436D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer and Exporter of Flexible Packaging Materials. |
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|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Profit margin
of the company is low. Also, there appears huge external borrowing recorded by the company.
However, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing with some cautions.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term – Fund Based Limit = A4 |
|
Rating Explanation |
The risk prone credit quality. It carry high credit risk |
|
Date |
24.10.2010 |
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term – Fund Based Limit = BB- |
|
Rating Explanation |
The inadequate credit quality. It carry high credit risk. |
|
Date |
24.10.2010 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ronak Brijmohannath Modi |
|
Designation : |
Director |
|
Contact No.: |
91-9824546053 |
|
Date : |
01.12.2012 |
LOCATIONS
|
Registered Office / Factory : |
Survey No.174 Paiki, Opposite Claris Village : Vasna
Charcharvadi, Taluka : Sanand, Ahmedabad – 382110, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9376186577 (Mr. Rajeshbhai Zabbarraj Sankalecha) 91-9824546053 (Mr. Ronak Brijmohannath Modi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sanjaybhai Zabbarraj Sanklecha |
|
Designation : |
Director |
|
Address : |
801 Rajanigandha Tower Shahibag Ahmedabad – 380004, Gujarat, India |
|
Date of Birth/Age : |
04.11.1969 |
|
Date of Appointment : |
18.10.2007 |
|
DIN No.: |
01784726 |
|
|
|
|
Name : |
Mr. Manojbhai Zabbarraj Sanklecha |
|
Designation : |
Director |
|
Address : |
801 Rajanigandha Tower Shahibag Ahmedabad – 380004,
Gujarat, India |
|
Date of Birth/Age : |
13.07.1972 |
|
Date of Appointment : |
18.10.2007 |
|
DIN No.: |
01784744 |
|
|
|
|
Name : |
Mr. Rajeshbhai Zabbarraj Sankalecha |
|
Designation : |
Director |
|
Address : |
801 Rajanigandha Tower Shahibag Ahmedabad – 380004,
Gujarat, India |
|
Date of Birth/Age : |
14.06.1971 |
|
Date of Appointment : |
18.10.2009 |
|
DIN No.: |
01784749 |
|
|
|
|
Name : |
Mr. Ronak Brijmohannath Modi |
|
Designation : |
Director |
|
Address : |
32, Swapnalokapt, Opposite Lawgarden Nursery Behind Gajjar Hall Law Garden Ahmedabad – 380006, Gujarat, India |
|
Date of Birth/Age : |
25.12.1985 |
|
Date of Appointment : |
04.10.2008 |
|
DIN No.: |
02306512 |
|
|
|
|
Name : |
Mr. Brijmohannath Biradnath Modi |
|
Designation : |
Director |
|
Address : |
32, Swapnalokapt, Opposite Lawgarden Nursery Behind Gajjar
Hall Law Garden Ahmedabad – 380006, Gujarat, India |
|
Date of Birth/Age : |
17.10.1956 |
|
Date of Appointment : |
04.10.2008 |
|
DIN No.: |
02314587 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Manoj Z. Sanklecha |
|
107000 |
|
Rajesh Z. Sanklecha |
|
24600 |
|
Sanjay Z. Sanklecha |
|
106750 |
|
Kanchan Z.Sanklecha |
|
30450 |
|
Zaberraj S. Sanklecha |
|
40750 |
|
Sangita S. Sanklecha |
|
33750 |
|
Saroj M. Sanklecha |
|
42575 |
|
Rekha R. Sanklecha |
|
34200 |
|
Rajesh Z. Sanklecha – (HUF) |
|
5450 |
|
Zabbaraj S.Sanklecha- (HUF) |
|
3150 |
|
Brijmohannath Modi |
|
68800 |
|
Ghanshyambhai Modi |
|
35100 |
|
Ronak Modi |
|
40000 |
|
Komalben Modi |
|
49600 |
|
Sarla G. Modi |
|
17625 |
|
Ankit Anand Shah |
|
100 |
|
Sarojben Shah |
|
91 |
|
Sureshkumar Jain (Prop. of Apolo Shawroom) |
|
1 |
|
Jagmohan H. Bhandari |
|
1 |
|
Joharimal Jain |
|
1 |
|
Deepchand P. Bafna (Prop. of Kavita Enterprise) |
|
1 |
|
Mohanraj M. Singhi |
|
1 |
|
Preeti S. Singhi |
|
1 |
|
Sandeep M. Singhi |
|
1 |
|
Veena M. Singhi |
|
1 |
|
Anandraj S. Shah |
|
1 |
|
Total |
|
640000 |
As on 28.02.2012
|
Names of Allottee |
|
No. of Shares
Allotted |
|
Kanchanben Zaberraj Sanklecha |
|
1237 |
|
Manojbhai Zaberraj Sanklecha |
|
4123 |
|
Rajeshbhai Zaberraj Sanklecha |
|
2062 |
|
Rekhaben Rajeshbhai Sanklecha |
|
7690 |
|
Sangitaben Sanjaybhai Sanklecha |
|
5150 |
|
Sanjaybhai Zaberraj Sanklecha (HUF) |
|
4267 |
|
Sarojben Manojbhai Sanklecha |
|
8246 |
|
Zaberrajbhai Surajmal Sanklecha (HUF) |
|
7425 |
|
Ganshyamnath Birednath Modi |
|
6185 |
|
Komal Brijmohannath Modi |
|
5153 |
|
Pooja Brijmohannath Modi |
|
6700 |
|
Sarla Ghanshyamnath Modi |
|
1762 |
|
Total |
|
60000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Flexible Packaging Materials. |
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|
|
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Exports : |
|
|
Products : |
Flexible Packaging Materials |
|
Countries : |
·
Europe ·
UK ·
US ·
Spain ·
Africa ·
Dubai |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
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Countries : |
·
Saudi Arabia ·
Kuwait |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
Jumbo Bags |
M.T. |
2500.00 |
|
Liner |
M.T. |
960.00 |
|
Particulars |
Unit |
Actual
Production |
|
Jumbo Bags |
M.T. |
1674.86 |
|
Liner |
M.T. |
41.23 |
|
Liner-Semi / Finished |
M.T. |
286.98 |
GENERAL INFORMATION
|
Suppliers : |
Rajiv Petrochemical Limited, Ahmedabad
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Customers : |
End Users ·
Bhairav Raffia Private Limited |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
· Bank of Baroda, Changodar Branch, Block No.565, Near Bus Stand, Changodar, Ahmedabad - 382213, Gujarat, India · ICICI Bank · HDFC Bank |
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Facilities : |
CC/TL Rs.164.500 Millions (From Bank of Baroda) (Rs.
In Millions)
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nalin K. Thakkar and Company Chartered Accountants |
|
Address : |
602, Samudra Annexe, Near Hotel Classic Gold off C. G. Road,
Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26568526 |
|
Mobile No.: |
91-9825047487 |
|
Fax No.: |
91-79-26568598 |
|
E-Mail : |
|
|
PAN.: |
AAKPT0207G |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 Millions |
|
|
|
|
|
Reconciliation of the
number of shares and number of shares outstanding at the beginning and at the
end of the year
Rs. In
|
Particulars |
Opening |
Fresh issue |
Closing |
|
Number of share |
640000 |
60000 |
700000 |
|
Rs. In Millions |
6.400 |
0.600 |
7.000 |
Details of shares
held by each shareholder holding more than 5% shares
|
Class of shares /
Name of shareholder |
Number of shares held |
% holding in that class of shares |
|
Equity shares with
voting rights : |
|
|
|
Brijmohannath B Modi |
68800 |
9.83% |
|
Ghanshyambhai B Modi |
41285 |
5.90% |
|
Komalben Modi |
54753 |
7.82% |
|
Ronak B Modi |
40000 |
5.71% |
|
Manoj Z Sanklecha |
111123 |
15.87% |
|
Rekha R Sanklecha |
41890 |
5.98% |
|
Sangita S Sanklecha |
38900 |
5.56% |
|
Sanjay Z Sanklecha |
106750 |
15.25% |
|
Saroj M Sanklecha |
50821 |
7.26% |
|
Zabberraj S Sanklecha |
40750 |
5.82% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.000 |
6.400 |
4.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24.886 |
11.864 |
5.196 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
31.886 |
18.264 |
9.796 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
78.268 |
56.315 |
34.619 |
|
|
2] Unsecured Loans |
33.597 |
25.506 |
19.152 |
|
|
TOTAL BORROWING |
111.865 |
81.821 |
53.771 |
|
|
DEFERRED TAX LIABILITIES |
4.105 |
2.378 |
0.677 |
|
|
|
|
|
|
|
|
TOTAL |
147.856 |
102.463 |
64.244 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
82.010 |
64.855 |
37.100 |
|
|
Capital work-in-progress |
0.000 |
0.500 |
2.482 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.078 |
0.078 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
46.462
|
33.449 |
14.635 |
|
|
Sundry Debtors |
41.578
|
16.911 |
17.973 |
|
|
Cash & Bank Balances |
8.660
|
4.508 |
5.559 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Other Non-Current Assets |
0.221
|
0.331 |
0.000 |
|
|
Loans & Advances |
6.111
|
5.386 |
4.635 |
|
Total
Current Assets |
103.032
|
60.585 |
42.802 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
33.292
|
20.250 |
16.256 |
|
|
Other Current Liabilities |
3.194
|
2.279 |
0.000 |
|
|
Provisions |
0.778
|
1.026 |
2.325 |
|
Total
Current Liabilities |
37.264
|
23.555 |
18.581 |
|
|
Net Current Assets |
65.768
|
37.030 |
24.221 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.441 |
|
|
|
|
|
|
|
|
TOTAL |
147.856 |
102.463 |
64.244 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Revenue |
306.231 |
|
64.232 |
|
|
|
Other Income |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
64.232 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
63.141 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
63.141 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11.771 |
7.750 |
1.091 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.970 |
3.062 |
0.845 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.801 |
4.688 |
0.246 |
|
|
|
|
|
|
|
|
|
|
VALUE OF IMPORTS |
62.975 |
33.091 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.14 |
7.33 |
0.53 |
|
Expected Sales (2012-13) : Rs.360.000 Millions
The above information has been parted by Mr. Ronak Brijmohannath Modi
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
0.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.36
|
6.18 |
1.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.42 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.68
|
5.77 |
7.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.76
|
2.57 |
2.30 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
For Goods |
30.433 |
16.180 |
13.349 |
|
For Expenses |
1.924 |
2.195 |
1.030 |
|
For Capital Goods |
0.935 |
1.875 |
1.773 |
|
Advance from Customer |
0.000 |
0.000 |
0.104 |
|
Total |
33.292 |
20.250 |
16.256 |
|
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 |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note:
The registered office of the company has been shifted from 801, Rajnigandha Tower, Near Sujata Flat Shahibaug Ahmedabad- 380004, Gujarat, India to present address w.e.f. 01.11.2008
TRADE REFERENCES
· Rajiv Petrochemical Limited, Ahmedabad
· Bhairav Raffia Private Limited
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25199GJ2007PTC051999 |
|
Name of the
company |
FAIRDEAL JUMBO
PACKAGING PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Survey No.174 Paiki, Opposite Claris Village : Vasna Charcharvadi, Taluka : Sanand, Ahmedabad – 382110, Gujarat, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10152236 |
|
Type of charge |
· Book debts ·
Movable property (not being pledge) |
|
Particular of
charge holder |
Bank of Baroda, Changodar Branch, Block No.565, Near Bus Stand, Changodar,, Ahmedabad - 382213, Gujarat, India |
|
Nature of
instrument creating charge |
Supplemental
composite agreement of hypothecation of goods, book-debts, movable machinery
and vehicles date. 28.03.2012 Composite
hypothecation agreement date. 28.03.2012 |
|
Date of
instrument Creating the charge |
28.03.2012 |
|
Amount secured by
the charge |
Rs.164.528
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 4.25% over base
rate i.e 15% p. a. at present with monthly rests Terms of Repayment All T.L. Repayable In 72 Monthly Installments 1) T. L. I - 71 Monthly Installments of Rs. 0.339 Million Each and Last Installment of Rs. 0.331 Million. 2) T. L. II- 71 Monthly Installments of Rs. 0.205 Million each and last Installment of Rs. 0.145 Million. 3) T. L. III - 71 Monthly Installments of Rs. 0.097 Million each and last Installment of Rs. 0.113 Million. 4) T.L. IV -71 Monthly Installments of Rs. 0.181 Million each and last Installment of Rs. 0.149 Million 5) Cash Credit and Packing Credit-On Demand Margin 1. T. L. I -
Factory Building 30%, P and M
25% 2. T. L. II -
Factory Building 30%, P and M 25% 3. T. L. III -
Factory Building 30%, P and M 25% 4. T.L. IV-New
Machine 25%, Second Hand Machine 40%, Building and Civil Works 30% 5. C. C. - Stocks
(Rm, Sip, Fg) 25%, Book Debts 30% 6.Sub-Limit - Pc
Cum Fbp/Fbd - Pc 10% and Fbp/ Fbd - Nil 7. Inland/Foreign
Lc 15% 8.Bank Guarantee
-15% On Performance Guarantee and 25% For Issuing Financial Bank Guarantee Extent and Operation of the charge All The
Securities Described Herein Below In Column No. 15 Have Been Charged To The
Bank To Secure Its : Term Loan I Rs.
15.354 Millions Term Loan II Rs.
11.077 Millions Term Loan III Rs.
5.597 Millions Fresh Term Loan
IV Rs. 13.000 Millions Working Capital
Rs. 47.500 Millions (Sub
Limit Pc Cum FBP/FBD/PCFC Rs. 12.500 Millions) Inland/Foreign LC
Rs. 70.000 Millions Inland/Foreign
Gurantee Rs. 2.000 Millions (Aggregate
Advances of Rs. 164.528 Millions) |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stock of Raw Materials, Stock -In-Process, Finished Goods, Consumable Spares and Packing Materials Book-Debts Tangible Movable Machinery, Plant, Cranes, Boats, Vehicles Furniture, Office Equipments etc. At Plot No. 174, Village Vasna-Chacharvad, Tal-Sanand, Ahmedabad |
|
Date of
instrument modifying the charge |
15.03.2011 |
|
Particulars of
the present modification |
The Aggregate
Advance stand to Rs. 164.528 Millions as under: Term Loan I Rs. 15.354 Millions (reduced from Rs. 18.800 Millions to Rs. 15.354 Millions), Term Loan II Rs 11.077 Millions (reduced from Rs. 13.000 Millions to Rs. 11.077 Millions), Term Loan III Rs 5.597 Millions (reduced from Rs. 7.000 Millions to Rs.5.597 Millions), Working Capital Rs. 47.500 Millions (reduced from Rs. 48.000 Millions to Rs. 47.500 Millions) Inland/Foreign LC Rs. 70.000 Millions (increased from Rs.37.500 Millions to Rs.70.000 Millions), Inland/Foreign Guarantee RS. 2.000 Millions, New Term Loan IV Rs. 13.000 Millions |
FIXED ASSETS
· Factory Land
· Building A/C
· Electrification
· Plant and Machinery
· Water Tank
· Office Equipment
· Furniture and Fixture
· R.O. Water System
· Telephone Instrument
· Maruti Swift Dezire
· Maruti Wagon R
· Mini Truck
· Two Wheelers
· Camera
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 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 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.54.53 |
|
|
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.