MIRA
INFORM REPORT
|
Report Date : |
08.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
MILLTEC MACHINERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
51-A, 1st Phase, K.I.A.D.B. Industrial Area, Bommasandra,
Bangalore – 560099, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
28.08.1998 |
|
|
|
|
Com. Reg. No.: |
08-024139 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1998PTC024139 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM02300E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Suppliers of Food Processing Machinery |
|
|
|
|
No. of Employees : |
50 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Prithvi |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-80-27831128 |
|
Date : |
28.01.2012 |
LOCATIONS
|
Registered Office : |
51-A, 1st Phase, K I A D B Industrial Area, Bommasandra, |
|
Tel. No.: |
91-80-27831128 / 27835169 –
173/28016666 |
|
Fax No.: |
91-80-27831129 / 27832723 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 19.09.2011
|
Name : |
Mr. Veluru Ramanaiah |
|
Designation : |
Whole Time Director |
|
Address : |
304, Krishna Jayanthi, 2nd Main, 9th Cross, 3rd
Phase, J.P. Nagar, |
|
Date of Birth/Age : |
01.06.1960 |
|
Date of Appointment : |
28.08.1998 |
|
DIN No.: |
01298671 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U85110KA1998PTC024139 |
Milltec
Machinery Private Limited |
Whole-time
director |
28-08-98 |
28-08-98 |
Active |
NO |
|
2 |
U51211KA2002PTC031083 |
Milltec
Outsourcing Private Limited |
Director |
03-10-02 |
03-10-02 |
Active |
NO |
|
3 |
U02922KA2003PTC032056 |
Hari
Prakash Precision Tools and Components Private Limited |
Managing
director |
05-06-03 |
05-06-03 |
Active |
NO |
|
4 |
U02922KA2004PTC033993 |
Milltec
Industries Bangalore Private Limited |
Director |
23-06-06 |
23-06-06 |
Active |
NO |
|
5 |
U31100KA2009PTC049840 |
M.S.
Sorters Private Limited |
Director |
29-09-10 |
13-05-09 |
Active |
NO |
|
Name : |
Mr. Veluru Girinatha Prakash |
|
Designation : |
Whole Time Director |
|
Address : |
A-240, Prestige Ozone, |
|
Date of Birth/Age : |
15.11.1962 |
|
Date of Appointment : |
28.08.1998 |
|
DIN No.: |
00211521 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U85110KA1998PTC024139 |
Milltec
Machinery Private Limited |
Whole-time
director |
28-08-98 |
28-08-98 |
Active |
NO |
|
2 |
U51211KA2002PTC031083 |
Milltec
Outsourcing Private Limited |
Director |
03-10-02 |
03-10-02 |
Active |
NO |
|
3 |
U02922KA2003PTC032056 |
Hari
Prakash Precision Tools and Components Private Limited |
Director |
05-06-03 |
05-06-03 |
Active |
NO |
|
4 |
U02922KA2004PTC033993 |
Milltec
Industries Bangalore Private Limited |
Director |
23-06-06 |
23-06-06 |
Active |
NO |
|
5 |
U31100KA2009PTC049840 |
M.S.
Sorters Private Limited |
Director |
30-07-10 |
13-05-09 |
Active |
NO |
|
6 |
U29242KA2010PTC052830 |
MTS
Industries Private Limited |
Managing
director |
11-03-10 |
11-03-10 |
Active |
NO |
|
Name : |
Mr. Ramaiah Ravindranath |
|
Designation : |
Whole Time Director |
|
Address : |
A-253, |
|
Date of Birth/Age : |
20.07.1963 |
|
Date of Appointment : |
28.08.1998 |
|
DIN No,: |
00212085 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U85110KA1998PTC024139 |
Milltec
Machinery Private Limited |
Whole-time
director |
28-08-98 |
28-08-98 |
Active |
NO |
|
2 |
U51211KA2002PTC031083 |
Milltec
Outsourcing Private Limited |
Director |
03-10-02 |
03-10-02 |
Active |
NO |
|
3 |
U02922KA2004PTC033993 |
Milltec
Industries Bangalore Private Limited |
Director |
23-06-06 |
23-06-06 |
Active |
NO |
|
4 |
U31100KA2009PTC049840 |
M.S.
Sorters Private Limited |
Director |
13-05-09 |
13-05-09 |
Active |
NO |
|
5 |
U29242KA2010PTC052830 |
MTS
Industries Private Limited |
Director |
11-03-10 |
11-03-10 |
Active |
NO |
|
6 |
U36997KA2010PTC052854 |
Ecotech
Machinery Private Limited |
Director |
15-03-10 |
15-03-10 |
Active |
NO |
|
7 |
U65923TZ2011PTC016739 |
Bhojan
Microfinance Private Limited |
Additional
director |
21-02-11 |
21-02-11 |
Active |
NO |
|
8 |
U28999KA2008PTC046025 |
Nikshepa
Machining Technologies Private Limited |
Additional
director |
25-10-11 |
25-10-11 |
Active |
NO |
|
Name : |
Mr. Rajendran Joghee |
|
Designation : |
Whole Time Director |
|
Address : |
A-251, |
|
Date of Birth/Age : |
04.06.1966 |
|
Date of Appointment : |
28.08.1998 |
|
DIN No.: |
02505486 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U85110KA1998PTC024139 |
Milltec
Machinery Private Limited |
Whole-time
director |
28-08-98 |
28-08-98 |
Active |
NO |
|
2 |
U51211KA2002PTC031083 |
Milltec
Outsourcing Private Limited |
Director |
03-10-02 |
03-10-02 |
Active |
NO |
|
3 |
U02922KA2004PTC033993 |
Milltec
Industries Bangalore Private Limited |
Director |
23-06-06 |
23-06-06 |
Active |
NO |
|
4 |
U31100KA2009PTC049840 |
M.S.
Sorters Private Limited |
Director |
29-09-10 |
13-05-09 |
Active |
NO |
|
5 |
U29242KA2010PTC052830 |
MTS
Industries Private Limited |
Director |
11-03-10 |
11-03-10 |
Active |
NO |
|
6 |
U65923TZ2011PTC016739 |
Bhojan
Microfinance Private Limited |
Additional
director |
21-02-11 |
21-02-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Prithvi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
V.G.N. Prakash |
|
600000 |
|
R. Ravindranath |
|
600000 |
|
J. Rajendran |
|
600000 |
|
V. Ramanaiah |
|
600000 |
|
B.A. Gayathri Devi |
|
150000 |
|
M. Jyothi Rani |
|
150000 |
|
Manjula |
|
150000 |
|
R. Uma |
|
150000 |
|
Total |
|
3000000 |
As on 19.09.2011
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 Suppliers of Food Processing Machinery |
||||
|
|
|
||||
|
Products : |
Pre-Cleaning
Equipment ·
Electronic Weigher/Flow Measurer ·
Paddy Cleaner ·
Stone Separator Hulling
Equipment ·
Vibro Sheller ·
Dehusker ·
Thick/Thin Grader Polishing
Equipment ·
Rice Whitener ·
Final Polisher ·
Water Jet Polisher Grading
Equipment ·
Rice Whitener ·
Length Grader ·
Final Polisher ·
Water Jet Polisher Accessories ·
Magnet ·
Recovery Unit ·
Bran Dischanger |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
Actual
Production |
|
Star N-2 |
Nos. |
1008 |
|
Tiny N1 |
Nos. |
0 |
|
Stre |
Nos. |
0 |
|
TGRD2D |
Nos. |
33 |
|
TGRD4D |
Nos. |
25 |
|
TGRD6D |
Nos. |
1 |
|
Dest2DB , |
Nos. |
161 |
|
Husk |
Nos. |
0 |
|
Husk - millmore |
Nos. |
0 |
|
Huse |
Nos. |
118 |
|
HUSE - B 5T |
Nos. |
0 |
|
DE-HUSK B |
Nos. |
0 |
|
Mase-S |
Nos. |
1481 |
|
Mase-B |
Nos. |
16 |
|
PSEP - 48/4 |
Nos. |
0 |
|
PSEP - 60/5 |
Nos. |
12 |
|
Poly M |
Nos. |
0 |
|
Poly M2 |
Nos. |
81 |
|
Silk N-1 |
Nos. |
573 |
|
Silk N-2 |
Nos. |
12 |
|
Mega |
Nos. |
0 |
|
Mega N-1 |
Nos. |
111 |
|
GIGA |
Nos. |
3 |
|
Shel N-1 |
Nos. |
619 |
|
Shel 5T |
Nos. |
66 |
|
SIFT 1D |
Nos. |
4 |
|
SIFT 2D |
Nos. |
6 |
|
LGRD |
Nos. |
191 |
|
Clas2DB-DI |
Nos. |
10 |
|
Clas 2 DS |
Nos. |
0 |
|
Aspi 1000 |
Nos. |
0 |
|
Star-NS/S |
Nos. |
0 |
|
Aspi 1000 N1 |
Nos. |
57 |
|
silk n1/S |
Nos. |
0 |
|
SORT-B5 (Import) |
Nos. |
0 |
|
Shell-5T/S |
Nos. |
0 |
|
STAR-4T(final-MC) |
Nos. |
173 |
|
Shell-8T |
Nos. |
2 |
|
DEST-2DB-B |
Nos. |
0 |
|
Dhal Splitter |
Nos. |
0 |
|
Pulse Conditioner |
Nos. |
0 |
|
SCON-1D |
Nos. |
0 |
|
CLAS-2DB |
Nos. |
60 |
|
PNSG |
Nos. |
625 |
|
ELEV-250 |
Nos. |
73 |
|
ASPB BIG |
Nos. |
0 |
|
RECO |
Nos. |
1 |
|
BNDS |
Nos. |
825 |
|
FAN-All Types |
Nos. |
0 |
|
CYCL-All Types |
Nos. |
0 |
|
Aspi 1500 |
Nos. |
0 |
|
Aspi-small |
Nos. |
0 |
|
BNDS-Big |
Nos. |
121 |
|
Class-2db-B |
Nos. |
0 |
|
Class3DB |
Nos. |
14 |
|
LGRD-2dm |
Nos. |
27 |
|
PoiyM3 |
Nos. |
133 |
|
Silk 10T |
Nos. |
1 |
|
Tiny N2 |
Nos. |
75 |
|
PSEP-Drive Assy |
Nos. |
0 |
|
Middle plates |
Nos. |
0 |
|
VGM |
Nos. |
0 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
50 (Approximately) (In Office + In Factory) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
Sundaram Home Finance Limited, 21, Patullos Road, Chennai – 600 002, Tamil
Nadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
V.A. Venkatram and Company Chartered Accountants |
|
Address : |
37/A, 6th Main, 12th A Cross, 3rd
Phase, JP Nagar, |
|
Tel No.: |
91-80-26589278 / 41211281 |
|
E-Mail : |
|
|
PAN No.: |
AAKPV5665L |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000
Millions |
|
|
|
|
|
Note : Which includes Bonus Issue of 2900000 Equity
Shares of Rs.10/- each
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 |
30.000 |
30.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
250.588 |
176.517 |
144.061 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
280.588 |
206.517 |
154.061 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
20.160 |
|
|
2] Unsecured Loans |
3.892 |
4.941 |
8.865 |
|
|
TOTAL BORROWING |
3.892 |
4.941 |
29.025 |
|
|
DEFERRED TAX LIABILITIES |
0.112 |
0.504 |
1.158 |
|
|
|
|
|
|
|
|
TOTAL |
284.593 |
211.962 |
184.244 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
58.895 |
64.390 |
73.273 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
88.937
|
93.895
|
62.756 |
|
|
Sundry Debtors |
127.556
|
106.557
|
58.425 |
|
|
Cash & Bank Balances |
213.586
|
84.815
|
68.542 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
72.672
|
45.721
|
37.105 |
|
Total
Current Assets |
502.751
|
330.988
|
226.828 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
62.731
|
47.918
|
34.974 |
|
|
Other Current Liabilities |
157.979
|
93.475
|
80.096 |
|
|
Provisions |
56.460
|
42.155
|
0.884 |
|
Total
Current Liabilities |
277.170
|
183.548
|
115.954 |
|
|
Net Current Assets |
225.581
|
147.440
|
110.874 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.116 |
0.130 |
0.097 |
|
|
|
|
|
|
|
|
TOTAL |
284.592 |
211.962 |
184.244 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
1170.847 |
839.443 |
634.550 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL
(B) |
995.634 |
706.848 |
550.126 (Including
Depreciation and Financial Expenses) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
175.213 |
132.595 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.309 |
2.107 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
173.904 |
130.488 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.667 |
10.207 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
165.237 |
120.281 |
84.424 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
56.068 |
41.501 |
29.408 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
109.169 |
78.780 |
55.016 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
11.000 |
8.000 |
NA |
|
|
|
Dividend |
30.000 |
22.500 |
10.000 |
|
|
|
Tax on Dividend |
5.099 |
3.823 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
233.738 |
170.666 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
36.38 |
26.26 |
55.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.32
|
9.38
|
8.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.42
|
30.42
|
28.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.59
|
0.58
|
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.00
|
0.91
|
0.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.80
|
1.96 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
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 |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Operations:
The Company during the year. Sales and Other Income for the year was Rs.1170.847
Millions as against Rs.839.443 Millions an increase of 39% over the previous
year. The Profit before interest, depreciation and tax at Rs.165.237 Millions
as against Rs.120.281 Millions previous year and the Profit after tax at
Rs.109.169 Millions for the year as against In the Previous Year of Rs.78.780
Millions.
Form: 8
|
Corporate
identity number of the company |
U85110KA1998PTC024139 |
|
Name of the
company |
MILLTEC MACHINERY
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
No 51/A Phas1
Kiadbe Indl Areabommasandra |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
80034503 |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
State Bank of
India, Electonicity Branch, No.26-A Hosur Road, Bangalore – 560100,
Karnataka, India E-Mail : krishnamurthhn@gmail.com |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Goods and Assets Letter Regarding
the Grant of individual Limits within the Overall Limit Agreement of Loan
For Overall Limit (All relates to Same Charge) |
|
Date of
instrument Creating the charge |
13.07.2007 |
|
Amount secured by
the charge |
Rs.66.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : Interest @ 12.75%
for CC & For Term Loan @ 13% p.a. (CC [Hyp.
stks]-Rs.30.000 millions/ CC[Hyp. BD]-Rs.5.000 millions/ Term Loan-I Rs.
14.000 millions/ Term Loan-II-Rs.14.000 millions/ LC-Rs.3.000 millions ) Terms of repayment : Working Capital
on Demand Term Loan I
Repayable in 56 Monthly installments of Rs.0.250 millions each/- Term Loan II
Repayable in 52 Monthly installments. Margin : Margin 25% on
Stock in Process/Raw Materials, finished Goods and EPC and LC Extent and operation of the charge : 100% Till the
Closure of the Loan |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
all the Present and Future Goods and Book Debts, receivables Claims,
outstanding monies etc., and other assets are stored at Company's Premises
belonging to the Company. |
|
Date of
instrument modifying the charge |
24.06.2005 |
|
Particulars of
the present modification |
Limit increased form
Rs.47.500 millions to Rs.66.000 millions (CC [Hyp. stks]-Rs.30.000 millions/
CC [Hyp. BD]-Rs.5.000 millions / Term Loan-I Rs. 14.000 millions/ Term
Loan-II-Rs.14.000 millions / LC-Rs.3.000 millions). Equitable Mortgage of
Property at Plot No.51-A, KIADB Industrial Area, Bommasandra, Hosur Road,
Bangalore-560099 given. All other Terms Conditions and Securities Continues
for the Increased Limit of Rs.66.000 millions. |
Fixed Assets :
- Computer and Printer
- Furniture and Fixtures
- Cycle
- Plant and Machinery
- UPS Systems
- Electrical Equipments
- Factory Equipments
- Tools and Patterns
- Office Equipments
- Vehicles
- Motor Car
- Generator
- Property at 235R
- Security Systems
- Technical Know-how
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. 49.07 |
|
|
1 |
Rs. 78.09 |
|
Euro |
1 |
Rs. 65.12 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
50 |
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.