MIRA
INFORM REPORT
|
Report Date : |
07.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
AGS TRANSACT TECHNOLOGIES LIMITED (w.e.f. 20.07.2010) |
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|
|
|
Formerly Known
As : |
AGS TRANSACT TECHNOLOGIES PRIVATE LIMITED (w.e.f. 03.06.2010) AGS INFOTECH PRIVATE LIMITED |
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Registered
Office : |
601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai – 400 013, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.12.2002 |
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Com. Reg. No.: |
11-138213 |
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Capital
Investment / Paid-up Capital : |
Rs.187.500 millions |
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|
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|
CIN No.: [Company Identification
No.] |
U72200MH2002PLC138213 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA18573C |
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PAN No.: [Permanent Account No.] |
AAECA0901H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Equipment Body for BT Manual Dispenser and Trading of
ATM and Others. |
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No. of Employees
: |
1200 (Approximately) |
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 3079000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. The latest financials of the company are not made available. Mr. Anand Agarwal, C.E.O. has provided all details to us. As per previous year’s record, there appears some dip in the
profitability. However, networth of the company appears good. Trade relations are reported as decent. Business is active. Payment
terms are usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A- (Long Term Fund Based Limits) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
December, 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
A- (Term Loan) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
December, 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
A1 (Short Term Limits) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
December, 2011 |
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. Anand Agarwal |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-22-67812000 |
|
Date : |
06.12.2012 |
LOCATIONS
|
Registered Office/ Head Office : |
601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat
Marg, Lower Parel, Mumbai – 400 013, |
|
Tel. No.: |
91-22-66602659/ 67812000 |
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Mobile No.: |
91-9223191588 (Ms. Suja Kulkarni) |
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Fax No.: |
91-22-24935384 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
|
|
Factory 1 : |
Assembling Unit Survey No.172/3, 173/3 and 173/4, Part - A, Ground Floor, Behind Olive
Health Care, Atiyawad, Dabhel, Nani Daman - 396 210, Daman and Diu, India |
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Factory 2 : |
Located at: v
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TRC Centre : |
Units:
19 to 21, Building No: 2, (A-3), Sector 1, |
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Tel. No.: |
91-22-67812211 |
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Fax No.: |
91-22-67910462 |
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|
|
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Warehouse : |
Plot No.1-D, CMPSC Complex, Jaspal Compound, KWC, Near Libra Kata,
Kalamboli, Panvel, Navi Mumbai – 410 218, |
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Tel. No.: |
91-22-64577341 |
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|
|
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Branch Office : |
Located at: v
Mumbai v
Navi Mumbai v
Ahmedabad v
v
Bengaluru v
Chennai v
v
v
v
v
Guwahati v
v
v
Jaipur v
v
Kolkata v
v
v
Pune v
Puducherry v
Tirupur v
v
CIT-Bengaluru v
CIT-Cochin |
DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Ravi Badrinarain Goyal |
|
Designation : |
Chairman and Managing Director |
|
Address : |
203, Shreenath Niwas, |
|
Date of Birth/Age : |
02.05.1962 |
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Qualification : |
B.E. (Electrical) |
|
Date of Appointment : |
11.12.2002 |
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DIN No.: |
01374288 |
|
Election
Commission Identity Card No.: |
KNF1217546 |
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PAN No.: |
AACPG0726F |
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|
|
Name : |
Mr. Badrinarain Kunjbihari Goyal |
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Designation : |
Director |
|
Address : |
204, Shreenath Niwas, |
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Date of Birth/Age : |
09.05.1940 |
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Qualification : |
Electronics Diploma Engineer |
|
Date of Appointment : |
11.12.2002 |
|
DIN No.: |
01679378 |
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Election Commission
Identity Card No.: |
MT/08/038/0144771 |
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|
Name : |
Mr. Sudip Bandyopadhyay |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
06.04.1964 |
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Qualification : |
CA and Cost Accountant |
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Date of Appointment : |
20.09.2010 |
|
DIN No.: |
00007382 |
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|
|
|
Name : |
Mr. Varun Virendar Nath Kapur |
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Designation : |
Nominee Director |
|
Address : |
# 06 - 01, Astrid Meadows, 48A |
|
Date of Birth/Age : |
26.03.1969 |
|
Date of Appointment : |
07.06.2011 |
|
DIN No.: |
01499679 |
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|
|
|
Name : |
Mr. Vishwarupe Rajat Kumar Narain |
|
Designation : |
Nominee Director |
|
Address : |
Flat No.509, |
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Date of Birth/Age : |
12.08.1974 |
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Date of Appointment : |
07.06.2011 |
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DIN No.: |
03394320 |
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|
|
|
Name : |
Mrs. Anupama Ravi Goyal |
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Designation : |
Director |
|
Address : |
203, Shreenath Niwas, |
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Date of Birth/Age : |
10.09.1965 |
|
Date of Appointment : |
10.08.2012 |
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DIN No.: |
02696453 |
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PAN No.: |
AACPG0725G |
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|
|
|
Name : |
Mr. Nicholas Charles Luckock |
|
Designation : |
Nominee director |
|
Address : |
Southview, |
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Date of Birth/Age : |
17.11.1972 |
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Date of Appointment : |
10.08.2012 |
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DIN No.: |
01125446 |
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|
|
|
Name : |
Mr. Nagarajan Srinivasan |
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Designation : |
Nominee Director |
|
Address : |
64, 31st Cross, Jayanagar VII Block, |
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Date of Birth/Age : |
08.08.1962 |
|
Date of Appointment : |
10.08.2012 |
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DIN No.: |
01480303 |
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|
|
|
Name : |
Mr. Suraj Parkash Chaudhry |
|
Designation : |
Director |
|
Address : |
Flat No.2201, 22nd Floor, |
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Date of Birth/Age : |
26.08.1949 |
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Qualification : |
Mechanical Engineer |
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Date of Appointment : |
20.09.2010 |
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DIN No.: |
03233435 |
KEY EXECUTIVES
|
Name : |
Ms. Rashmi Chhotalal Sarvaiya |
|
Designation : |
Company Secretary |
|
Address : |
B/35, Shanti Sadan, |
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Date of Birth/Age : |
08.05.1983 |
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Date of Appointment : |
16.09.2010 |
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PAN No.: |
BGWPS7759D |
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|
|
Name : |
Mr. Anand Agarwal |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
|
|
16615078 |
|
TPG Star SF Pte Limited, |
|
822549 |
|
Oriole Limited, |
|
4799353 |
|
Badrinarain Kunjbihari Goyal |
|
187500 |
|
Anupama Ravi Goyal |
|
4 |
|
Vimla Badrinarain Goyal |
|
4 |
|
Kiran Badrinarain Goyal |
|
4 |
|
Nidhi Kiran Goyal |
|
4 |
|
Neha Ravi Goyal |
|
4 |
|
Total |
|
22424500 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
TPG Star SF Pte Limited, |
|
5140929 |
|
Oriole Limited, |
|
150000 |
As on 24.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
25.07 |
|
Directors
or relatives of directors |
|
74.93 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Equipment Body for BT Manual Dispenser and Trading of
ATM and Others. |
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Products : |
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Exports : |
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Countries : |
v
v
v
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Imports : |
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Products : |
Raw Materials |
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Countries : |
v
v
v
v
v
v
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
v
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Customers : |
Wholesalers and Retailers v Asian Paints v ICICI Bank v HDFC Bank v Axis Bank |
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
v
Yes Bank Limited, 9th Floor, Nehru
Centre, Discovery of v
Corporation Bank, 104, Bharat House, Ground
Floor, B. S. Marg, Fort, Mumbai – 400 023, Maharashtra, India v
Standard
Chartered Bank, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400 051, v
ICICI Bank Limited, v
HDFC Bank Limited v
Citibank |
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Facilities : |
Note Other debt
secured includes Short term loan from Buyers Credit, Vendor Finance and Cash
Credit Account.
|
|
Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name 1 : |
Shah and Company Chartered Accountants |
|
Address : |
Maker Bhavan No. 2, 18, New Marine Lines, Mumbai – 400 020, |
|
PAN No.: |
AABFS2985F |
|
|
|
|
Name 2 : |
Ernst and Yong Chartered Accountants |
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|
|
|
Subsidiaries : |
v
v
AGS Infotech Singapore Pte Limited, |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
v
Instruments Research Associates Private Limited, v AGS Sundyne
Technologies Private Limited, v Fillon
Technologies India Private Limited, |
CAPITAL STRUCTURE
As on 24.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
27000000 |
Equity Shares |
Rs.10/- each |
Rs.270.000 millions |
|
8000000 |
Preference Shares |
Rs.10/- each |
Rs.80.000 millions |
|
|
Total |
|
Rs.350.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22424500 |
Equity Shares |
Rs.10/- each |
Rs.224.245
millions |
|
7141664 |
Preference Shares |
Rs.10/- each |
Rs.71.417
millions |
|
|
Total |
|
Rs.295.662 millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18750000 |
Equity Shares |
Rs.10/- each |
Rs.187.500
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 |
187.500 |
50.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
582.236 |
663.388 |
456.593 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
769.736 |
713.388 |
506.593 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1112.409 |
695.720 |
437.476 |
|
|
2] Unsecured Loans |
160.623 |
14.875 |
26.498 |
|
|
TOTAL BORROWING |
1273.032 |
710.595 |
463.974 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
1.250 |
|
|
|
|
|
|
|
|
TOTAL |
2042.768 |
1423.983 |
971.817 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
610.467 |
170.683 |
38.266 |
|
|
Capital work-in-progress |
45.388 |
74.523 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.503 |
0.003 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
639.594
|
656.306 |
423.880 |
|
|
Sundry Debtors |
996.223
|
744.066 |
852.009 |
|
|
Cash & Bank Balances |
113.990
|
84.450 |
4.293 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
439.023
|
227.521 |
209.909 |
|
Total
Current Assets |
2188.830
|
1712.343 |
1490.091 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
636.146 |
434.201 |
487.952 |
|
|
Other Current Liabilities |
138.141
|
69.252 |
30.640 |
|
|
Provisions |
28.133
|
30.116 |
38.197 |
|
Total
Current Liabilities |
802.420
|
533.569 |
556.789 |
|
|
Net Current Assets |
1386.410
|
1178.774 |
933.302 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.249 |
|
|
|
|
|
|
|
|
TOTAL |
2042.768 |
1423.983 |
971.817 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue |
2461.168 |
2774.453 |
2660.223 |
|
|
|
Other Income |
21.032 |
103.250 |
13.003 |
|
|
|
TOTAL |
2482.200 |
2877.703 |
2673.226 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1575.585 |
1939.422 |
|
|
|
|
Manufacturing service costs |
21.897 |
141.186 |
|
|
|
|
Employee related expenses |
256.721 |
141.337 |
|
|
|
|
Administrative selling other expenses |
364.877 |
298.982 |
|
|
|
|
TOTAL |
2219.080 |
2520.927 |
2414.233 |
|
|
|
|
|
|
|
|
Less |
PROFIT BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
263.120 |
356.776 |
258.993 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL CHARGES |
116.413 |
68.653 |
44.740 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX,
DEPRECIATION AND AMORTISATION |
146.707 |
288.123 |
214.253 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
56.763 |
10.818 |
4.304 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ITEMS |
0.000 |
9.059 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
89.944 |
268.246 |
209.949 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33.597 |
61.451 |
55.848 |
|
|
|
|
|
|
|
|
|
|
PROFIT
AFTER TAX |
56.347 |
206.795 |
154.101 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
663.388 |
456.593 |
302.492 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Issue of Bonus Shared |
137.500 |
0.000 |
0.000 |
|
|
|
Transfer to General Reserve |
10.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED TO
THE B/S |
572.235 |
663.388 |
456.593 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Manufacturing products at FOB value |
20.753 |
13.051 |
9.166 |
|
|
|
Warranty Reimbursement |
0.129 |
8.467 |
0.000 |
|
|
|
Reimbursement of Expenses |
0.000 |
0.730 |
0.000 |
|
|
TOTAL EARNINGS |
20.882 |
22.248 |
9.166 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1014.844 |
1620.144 |
|
|
|
Stores & Spares |
NA |
0.476 |
0.000 |
|
|
|
Capital Goods |
NA |
15.849 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
1031.169 |
1620.144 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.01 |
11.03 |
NA |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
5120.000 (Due to huge
growth in business and more orders) |
|
|
|
|
|
Expected Sales (2012-2013): Rs.6000.000 millions
The above information has been parted by Mr. Anand Agarwal (Chief
Executive Officer).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.27
|
7.19 |
5.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.65
|
9.67 |
7.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.21
|
14.25 |
13.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.38 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.70
|
1.74 |
2.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.73
|
3.21 |
2.68 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
Creditors due small micro enterprises |
0.000 |
0.000 |
|
|
Creditors due others |
636.146 |
434.201 |
|
|
Total |
636.146 |
434.201 |
487.952 |
|
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% |
Yes |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
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 |
No |
|
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34)
External Agency Rating, if available |
Yes |
BUSINESS REVIEW
For the financial
year ended March 31, 2011, the Company has earned Profit before Interest, Depreciation,
Tax (EBITDA) of Rs.263.120 millions (Previous Year - Rs.356.776 millions) and
Profit after Tax of Rs.56.347 millions (Previous Year - Rs.215.855 millions).
The total income for the year was Rs.2482.200 millions (Previous Year
Rs.2877.703 millions) and total expenditure was Rs.2219.080 millions (Previous
Year Rs.2520.927 millions).
The Management
expects the positive trend in the next year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U72200MH2002PLC138213 |
|
Name of the
company |
AGS TRANSACT TECHNOLOGIES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
601-602, Trade World, B-Wing, Kamala Mill Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400 013, E-Mail: |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10092410 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge |
|
Particular of
charge holder |
Standard
Chartered Bank, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla
Complex, Bandra (East), Mumbai – 400 051, E-Mail: Nilesh.Babar@sc.com |
|
Nature of
description of the instrument creating or modifying the charge |
Third
Supplemental to Unattested Memorandum of Hypothecation dated June 27, 2012. |
|
Date of
instrument Creating the charge |
27.06.2012 |
|
Amount secured by
the charge |
Rs.350.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As agreed by and
with the Bank from time to time. Terms of
Repayment: As agreed by and with
the Bank from time to time. Margin: As applicable, if
any. Extent and
Operation of the charge: The Bank are
having first pari passu charge on security given by the Company. |
|
Short particulars
of the property charged |
Hypothecation by way
of pari passu charge on all present and future movable properties of the
borrower including without limitation its movable plant and machinery,
furniture and fittings, equipment, computer hardware, computer software,
machinery spares, tools and accessories and other movables, both whether now
lying loose or in cases or which is now lying or stored. |
|
Date of latest
modification prior to the present modification |
21.12.2010 |
|
Particulars of
the present modification |
The existing
charge amount of Rs.350.000 millions is also now secured as hypothecation by
way of pari passu charge on all present and future movable properties of the
borrower including without limitation its movable plant and machinery,
furniture and fittings. The first pari passu charge on stocks and book debts
created earlier shall remain the same. |
TRADE REFERENCES:
v Asian Paints
v ICICI Bank
v HDFC Bank
v Axis Bank
v
FIXED ASSETS:
v Land
v Office
v Plant and Machinery
v Furniture and Fixtures
v Electrical Fittings
v Office Equipments
v Air Conditioners
v Computer
v Software
v Tools and Equipments
v Vehicle
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.54.47 |
|
|
1 |
Rs.87.63 |
|
Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--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.