MIRA
INFORM REPORT
|
Report Date : |
03.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
VEER PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
104, Sardar Patel Colony, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.04.1985 |
|
|
|
|
Com. Reg. No.: |
04-7777 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.76.550 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200GJ1985PTC007777 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMV0000501E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of HDPE Woven Sacks. |
|
|
|
|
No. of Employees
: |
200 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1390000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Even though
the company has achieved better growth in its sales turnover during 2011, it
has incurred loss from its operation. There appears huge external borrowings recorded by the company.
However, trade relations are reported as fair. Business is active. Payment
terms are slow but correct. 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.
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 |
A3 [Short Term Non Fund Based Limits] |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
19.04.2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
BBB – [Term Loan] |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
19.04.2012 |
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 [GENERAL DETAILS]
|
Name : |
Ms. Nirja |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-79-27681159 |
|
Date : |
30.11.2012 |
LOCATIONS
|
Registered/ Head Office : |
104, Sardar Patel Colony, 1st Floor, Stadium Road, Post
Navjivan, Ahmedabad-380014, Gujarat, India |
|
Tel. No.: |
91-79-27681159 |
|
Fax No.: |
91-79-27680550 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Block No.327, Santej – Vadsar Road, Santej, District Gandhi Nagar,
Gujarat, India |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
7/1, GIDC Estate, Kadi, North Gujarat, India |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Kanwarbirsingh Ajaibsingh Arora |
|
Designation : |
Director |
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
|
Date of Appointment : |
10.04.1985 |
|
Din No.: |
00039504 |
|
|
|
|
Name : |
Mr. Laxmiprasad J. Dave |
|
Designation : |
Director |
|
Address : |
Rang Darshan Nursury Road, Billomora, Valsad, Gujarat, India |
|
Date of Appointment : |
30.09.1996 |
|
Din No.: |
02223624 |
|
|
|
|
Name : |
Mr. Surender Kesharichandji Choudhary |
|
Designation : |
Director |
|
Address : |
6, Aditiraj Bunglows, Near Prernatirth Derasar, Jodhpur Cross Road,
Satellite, Ahmedabad-30015, Gujarat, India |
|
Date of Appointment : |
20.09.2004 |
|
Din No.: |
00280140 |
|
|
|
|
Name : |
Mr. Harjeevsingh Kanwarbirsingh Arora |
|
Designation : |
Director |
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
|
Date of Appointment : |
25.09.2003 |
|
Din No.: |
02119004 |
|
|
|
|
Name : |
Jasleenkaur Kanwarbir Singh Arora |
|
Designation : |
Director |
|
Address : |
173, Sunrise Park, Drive in Road, Ahmedabad-380054, Gujarat, India |
|
Date of Appointment : |
01.05.2011 |
|
Din No.: |
02119013 |
KEY EXECUTIVES
|
Name : |
Ms. Nirja |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of
Preferences Shares |
No. of Equity
Shares |
|
Kanwarbirsingh Ajaibsingh Arora |
75000 |
58420 |
|
Jasleenkaur Kanwarbir Singh Arora |
-- |
58760 |
|
Neenakaur Sukhbirsingh Arora |
-- |
36960 |
|
Karanjeevsingh Sukhbirsingh Arora |
-- |
38400 |
|
Harjeevsingh Kanwarbirsingh Arora |
25000 |
59020 |
|
Amrita Kaur Harjiv Singh Arora |
-- |
55000 |
|
Sukhbirsingh Ajaibsingh Arora |
50000 |
37131 |
|
Maninderkaur Kanwarbirsingh Arora |
-- |
59000 |
|
Sukhbirsingh Ajaibsingh HUF |
-- |
10500 |
|
Manveenkaur Gurpritsingh |
-- |
26120 |
|
Amarjeetkaur |
-- |
20 |
|
Glan Marketing Private Limited, India |
-- |
65000 |
|
Karan Polypack Private Limited, India |
-- |
8000 |
|
Jai Singh Chauhan |
-- |
40000 |
|
Kanwarbirsingh Ajaibsingh Arora HUF |
-- |
35200 |
|
Sohinder Singh Chhabra |
-- |
360 |
|
Manmohan Kaur Sohinder Singh Chhabra |
-- |
1200 |
|
Gurnish Singh Sohinder Singh Chhabra |
-- |
3200 |
|
Rajwant Singh HUF |
-- |
20 |
|
Laxmiprasad J. Dave |
-- |
20 |
|
Rajesh L Dave |
-- |
20 |
|
Narendra Chaudhary |
-- |
1 |
|
Narendra Chaudhary N.M HUF |
-- |
1 |
|
Narendra Megha HUF |
-- |
1 |
|
Surendra Chaudhary HUF |
-- |
1 |
|
Manveen Singh Banthia |
-- |
1 |
|
Beena Banthia |
-- |
1 |
|
Baljit Singh Surjit Singh Bagga |
-- |
1 |
|
Rajputana Golden Transport |
-- |
1 |
|
Rudrakash Associates and Investment Limited |
-- |
1 |
|
Surendra Chaudhary |
-- |
7640 |
|
Daffodil Vintrade Private Limited, India |
2000 |
-- |
|
Ivory Impex Private Limited |
3000 |
-- |
|
Gopalka Motor Investo Private Limited |
8000 |
-- |
|
Sparking Star Intrade Private Limited |
2500 |
-- |
|
|
|
|
|
TOTAL
|
165500 |
600000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
11.56 |
|
Directors
or relatives of directors |
|
88.44 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of HDPE Woven Sacks. |
|
|
|
|
Products : |
·
HDPE/ PP Bags ·
FIBC’s ·
Fabrics ·
Non-Woven |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
200 [Approximately] |
||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch, 3rd
Floor, Paramsidhi Complex, Opposite V. S. Hospital, Ellisbridge,
Ahmedabad-380006, Gujarat, India ·
Punjab National Bank, Sola Road, Bhuyangdev Char
Rasta, Ghatlodia, Ahmedabad-380061, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Shah Associates Chartered Accountant |
|
Address : |
702, Aniket , Near Municipal Market, |
|
PAN No: |
AAHFS7036F |
|
|
|
|
Related Parties : |
·
Karan Polypack Private Limited ·
Damodar Polyfab Private Limited ·
Harjiv Packaging Private Limited ·
Karan Synthetic (India) Private
Limited ·
Gyan Marketing Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
800000 |
Equity Shares |
Rs.100/- each |
Rs.80.000 Millions |
|
200000 |
Preferences Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
TOTAL
|
|
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
600000 |
Equity Shares |
Rs.100/-
each |
Rs.60.000
Millions |
|
165500 |
Preferences Shares |
Rs.100/- each |
Rs.16.550
Millions |
|
|
TOTAL |
|
Rs.76.550 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 |
76.550 |
76.550 |
75.000 |
|
|
2] Share Application Money |
5.000 |
5.000 |
0.000 |
|
|
3] Reserves & Surplus |
267.068 |
233.092 |
156.165 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
348.618 |
314.642 |
231.165 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
454.219 |
427.193 |
362.370 |
|
|
2] Unsecured Loans |
176.664 |
161.595 |
78.213 |
|
|
TOTAL BORROWING |
630.883 |
588.788 |
440.583 |
|
|
DEFERRED TAX LIABILITIES |
34.935 |
33.084 |
25.937 |
|
|
|
|
|
|
|
|
TOTAL |
1014.436 |
936.514 |
697.685 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
466.699 |
463.592 |
358.233 |
|
|
Capital work-in-progress |
4.068 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
25.484 |
20.583 |
20.583 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
290.599
|
262.203 |
154.377
|
|
|
Sundry Debtors |
113.451
|
147.611 |
117.237
|
|
|
Cash & Bank Balances |
49.983
|
72.120 |
18.258
|
|
|
Other Current Assets |
0.754
|
0.403 |
0.000
|
|
|
Loans & Advances |
150.717
|
118.227 |
88.351
|
|
Total
Current Assets |
605.504
|
600.564 |
378.223 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
80.910
|
138.508 |
|
|
|
Other Current Liabilities |
0.000
|
0.000 |
58.940
|
|
|
Provisions |
6.409
|
9.717 |
0.414
|
|
Total
Current Liabilities |
87.319
|
148.225 |
59.354
|
|
|
Net Current Assets |
518.185
|
452.339 |
318.869
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1014.436 |
936.514 |
697.685 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2336.982 |
2130.654 |
1669.301 |
|
|
|
Other Income |
NA |
NA |
4.924 |
|
|
|
TOTAL (A) |
NA |
NA |
1674.225 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
1244.753 |
|
|
|
Operating and Administrative Expenses |
NA |
NA |
279.579 |
|
|
|
Loss on Exchange Rate Fluctuation |
|
|
18.376 |
|
|
|
Increase / Decrease in Stocks |
|
|
(2.875) |
|
|
|
TOTAL (B) |
NA |
NA
|
1539.833 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
154.052 |
167.887 |
134.392 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
42.754 |
35.849 |
44.956 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
111.298 |
132.038 |
89.436 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
58.143 |
48.418 |
43.557 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
53.155 |
83.620 |
45.879 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
14.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
NA |
NA |
31.320 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
118.864 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
150.184 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
310.757 |
219.247 |
221.955 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
38.082 |
|
|
|
Stores & Spares |
NA |
NA |
2.385 |
|
|
TOTAL IMPORTS |
NA |
NA |
40.467 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
NA |
NA |
52.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
1.87
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.27
|
3.92 |
2.75
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.95
|
7.85 |
6.23
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.27 |
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.06
|
2.34 |
2.16
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.93
|
4.05 |
6.37
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
80.910
|
138.508 |
NA |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90107122 |
|
Corporate
identity number of the company |
U25200GJ1985PTC007777 |
|
Name of the
company |
VEER PLASTICS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
104, Sardar Patel Colony, 1st Floor, Stadium Road, Post
Navjivan, Ahmedabad-380014, Gujarat, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, 3rd Floor,
Paramsidhi Complex, Opposite V. S. Hospital, Ellisbridge, Ahmedabad-380006, Gujarat,
India Email: rm1.cbahm@sbi.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
1.Supplemental
Agreement of Hypothecation of Goods And Assets For Increase in the overall Limit
2. Letter
Regarding the grant of Individual limits within the overall limit 3. Memorandum
Relating to Deposit of Title Deeds for creation of further charge for term
loan overall limit where the initial charge is created by way of Mortgage by
Deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
20.03.2012 |
|
Amount secured by
the charge |
Rs.764.400
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit and
Term Loans: 3.90% above base rate i.e. 13.90% p.a. and SLC: 4.90% above base
rate i.e. 14.90% p.a. Terms of Repayment Cash Credit:
Payable on demand. (1) Term Loan of
Rs. 88.000 Millions to be repaid in 20 equal quarterly installments of Rs.
4.400 Millions each with a moratorium period of one year six months starting
from first quarter of financial year 2009-10 i.e. June 2009 (2) Term loan of
Rs. 137.500 Millions to be repaid in 20 equal quarterly installments of Rs.
6.875 Millions each starting from 1st quarter of F.Y. year 2011-12 i.e. April
2011 and Term loan of Rs. 63.500 Millions to be repaid as perform. Margin RM/SIP/FG : 25%,
Book Debt (cover 90 days ) :30%, LC: 20% BG: 10% and P and M (New TL) :
27.43% Extent and Operation of the charge Exclusive First
Charge over entire movable assets and immovable properties of the company
situated at S. No.327, Vill. Santej, Taluka Kalol, District Gandhinagar And
at Plot No.1 to 4,Survey No.90/1 at
Vill. Naroli, Silvassa, D and NH And Entire Plant and Machineries situated at
Village: Kadi, Gujarat and Village -Athal of Silvassa. |
|
Short particulars
of the property charged |
Entire movable
assets including Plant and machineries and current assets of the company
situated at S. No.327, Vill. Santej, Taluka Kalol, District Gandhinagar
present and future. Entire movable
assets including Plant and machineries and current assets of the company
situated at Plot No. 7/1, Vill. Kadi, Taluka Kadi, District Mehsana, present
and future. Entire movable
assets including Plant and machineries and current assets of the company
situated at Plot No.1 to 4, Survey No.90/1 at Vill. Naroli, Silvassa, D and
NH, present and future. Entire movable
assets including Plant and machineries and current assets of the company
situated at Village - Athal , Silvassa, D and NH., present and future. Immovable
property of freehold Industrial N.A. land forming part of Block No.327 admeasuring 11444.09 sq. mtrs situated
lying and being at Mouje Santej, Taluka Kalol, District Mehsana, Gujarat. Immovable
property situated at Plot No.1 adm. 1577 sq. mtrs., Plot No.2 adm. 4783 sq.
mtrs., Plot No.3 adm. 3205 sq. mtrs. and Plot No.4 adm. 3086 sq. mtrs ,S.
No.90/1 at Vill. Naroli, Silvassa, D
and NH. |
|
Particulars of
the present modification |
Charge created
for credit facilities of Rs. 764.400
Millions ( increased in (1) C.C. of Rs. 50.000 Millions, (2) New T.L. of Rs.
63.500 Millions , (3) L/C of Rs. 20.000 Millions and (4)
CEL of Rs. 2.300 And liquidation of T.L I of Rs. 85.000 Millions and
T.L. II of Rs. 64.000 Millions) by way
of hypothecation over movable and current assets And creation of E.M. over
immovable property situated at S.
No.327, Vill. Santej, Tal. Kalol, Dist. Gandhinagar and Plot No.1 to 4, S.
No.90/1 at Vill. Naroli, Silvassa |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Electric Installations
·
Office Equipment
·
Vehicles
·
Data Processing Equipment
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 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.54.53 |
|
|
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
34 |
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.