MIRA
INFORM REPORT
|
Report Date : |
24.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
TOPWORTH URJA AND METALS LIMITED (w.e.f. 29.06.2010) |
|
|
|
|
Formerly Known
As : |
SHREE VIRANGANA STEELS LIMITED |
|
|
|
|
Registered
Office : |
4, Ground Floor, Raheja Centre, 214, Free Press J, Ournal Marg,
Nariman Point, Mumbai-400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.11.1993 |
|
|
|
|
Com. Reg. No.: |
11-074950 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.175.099
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109MH1993PLC074950 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS01005E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS5396N |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Sponge Iron, Ms Billets and Power. |
|
|
|
|
No. of Employees
: |
More than 1800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an 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. Sajan Thomas |
|
Designation : |
Manager |
|
Contact No.: |
91-9552556677 |
LOCATIONS
|
Registered Office : |
4, Ground Floor, Raheja Centre, 214, Free Press J, Ournal Marg,
Nariman Point, Mumbai-400021, |
|
Tel. No.: |
91-22-22841414 |
|
Mobile No.: |
91-9552556677 (Mr. Sajan Thomas) |
|
Fax No.: |
91-22-22840211 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Mauza Ukkerwadi Near |
|
Tel. No.: |
91-7116-305063 |
|
Fax No.: |
91-7116-305055 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Surendra Champalal Lodha |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Narayandevi Shopping Complex, Pushpalata Bendale Chowk,
Jalgaon-425001, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.05.1965 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
14.03.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00044782 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Abhay Narendra Lodha |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
603, Vaitarna, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1971 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.04.2008 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00052194 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Narendra Champalal Lodha |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 4, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.12.1947 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00164574 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sajan Thomas |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Crest Steel and Power Private Limited, |
|
1750993 |
|
Abhay Narendra Lodha |
|
1 |
|
Ashwin Lodha |
|
1 |
|
Sheela Lodha |
|
1 |
|
Moona Lodha |
|
1 |
|
Surendra Lodha |
|
1 |
|
Rajesh Kumar Jain |
|
1 |
|
|
|
|
|
Total |
|
1750999 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage |
|
Bodies
corporate |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Sponge Iron, Ms Billets and Power. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Installed
Capacity |
60000 |
|
|
|
|
Particulars |
Unit |
Actual
Production |
|
Sponge Iron |
Qty. (M.T) |
23802.06* |
|
Dolochar |
Qty. (M.T) |
8630.74 |
|
|
Qty. (M.T) |
0 |
GENERAL INFORMATION
|
Customers : |
OEM’s and Others |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
More than 1800 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain and Chhoriya Chartered Accountant |
|
Address : |
59, Gaya Building, 4th Floor, Yusuf Meher Ali Road, Masjid
Bunder, Mumbai-400003, Maharashtra, India |
|
PAN No.: |
AADFJ9495M |
|
|
|
|
Holding Company: |
Crest Steel and Power Private Limited, India CIN No.: U27109CT2004PTC016643 |
|
|
|
|
Associates: |
|
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1750999 |
Equity Shares |
Rs.100/- each |
Rs.175.099
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
175.099 |
64.683 |
64.683 |
|
|
2] Share Application Money |
257.800 |
466.272 |
0.000 |
|
|
3] Reserves & Surplus |
765.768 |
109.246 |
77.815 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1198.667 |
640.201 |
142.498 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1923.423 |
125.377 |
141.710 |
|
|
2] Unsecured Loans |
436.863 |
11.709 |
489.640 |
|
|
TOTAL BORROWING |
2360.286 |
137.086 |
631.350 |
|
|
DEFERRED TAX LIABILITIES |
34.046 |
38.007 |
38.353 |
|
|
SALES TAX DEFERRAL |
103.986 |
90.681 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3696.985 |
905.975 |
812.201 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
395.518 |
218.850 |
213.200 |
|
|
Capital work-in-progress |
2509.969 |
301.685 |
5.619 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.205 |
0.200 |
29.397 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
367.961
|
375.662 |
362.638 |
|
|
Sundry Debtors |
2224.229
|
1310.343 |
483.434 |
|
|
Cash & Bank Balances |
354.999
|
138.730 |
1.141 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1034.219
|
143.284 |
319.026 |
|
Total
Current Assets |
3981.408
|
1968.019 |
1166.239 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2917.942
|
1455.985 |
294.515 |
|
|
Other Current Liabilities |
266.235
|
126.704 |
304.361 |
|
|
Provisions |
52.017
|
5.013 |
3.463 |
|
Total
Current Liabilities |
3236.194
|
1587.702 |
602.339 |
|
|
Net Current Assets |
745.214
|
380.317 |
563.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.046 |
0.085 |
|
|
PRE OPERATIVE |
46.079 |
4.877 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3696.985 |
905.975 |
812.201 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4581.937 |
3410.340 |
1337.702 |
|
|
|
Other Income |
81.694 |
11.504 |
6.778 |
|
|
|
TOTAL (A) |
4663.631 |
3421.844 |
1344.480 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
4297.956 |
3228.991 |
1152.960 |
|
|
|
Stores and spares consumed |
14.314 |
19.376 |
23.882 |
|
|
|
Power and fuel consumed |
13.873 |
20.673 |
15.019 |
|
|
|
Manufacturing expenses |
4.785 |
7.206 |
6.447 |
|
|
|
Payment and benefits to employees |
6.855 |
8.319 |
7.142 |
|
|
|
Excise duty |
0.000 |
0.000 |
66.715 |
|
|
|
Administrative and selling expenses |
23.297 |
28.886 |
11.510 |
|
|
|
Preliminary expenses |
0.046 |
0.039 |
0.039 |
|
|
|
Increase or decrease in stocks |
28.868 |
(27.947) |
(14.745) |
|
|
|
TOTAL (B) |
4389.994 |
3285.543 |
1268.969 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
273.637 |
136.301 |
75.511 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
107.502 |
87.933 |
52.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
166.135 |
48.368 |
23.268 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.621 |
13.090 |
12.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
152.514 |
35.278 |
10.802 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
48.077 |
3.847 |
4.726 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
104.437 |
31.431 |
6.076 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
77.197 |
45.766 |
39.690 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
181.634 |
77.197 |
45.766 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
267.098 |
0.000 |
|
|
|
|
Components and Spares Part |
0.000 |
0.000 |
NA |
|
|
|
Capital Goods |
2.050 |
131.906 |
|
|
|
TOTAL IMPORTS |
269.148 |
131.906 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
59.64 |
48.59 |
NA |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
More than 5800.000 |
Expected Sales (2011-12): Above Rs.7000.000 Millions
The above information has been parted by Mr. Sajan Thomas.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.23
|
0.92 |
0.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.33
|
1.03 |
0.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.48
|
1.61 |
0.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.05 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.67
|
2.69 |
8.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
1.23 |
1.94 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Sundry Creditors
For Goods |
93.569 |
1418.472 |
238.904 |
|
Sundry Creditors
For Expenses |
45.199 |
37.513 |
55.611 |
|
Sundry Creditors
For Capital Goods |
594.029 |
0.000 |
0.000 |
|
Sundry Creditors
Covered by LC |
2185.145 |
0.000 |
0.000 |
|
Total |
2917.942 |
1455.985 |
294.515 |
FORM 8
|
Corporate
identity number of the company |
U27109MH1993PLC074950 |
|
Name of the
company |
TOPWORTH URJA AND
METALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
4, Ground Floor,
Raheja Centre, 214, Free Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra, India Email Id : virangnasteels@yahoo.com |
|
This form is for |
Creation
of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Current Assets |
|
Particular of
charge holder |
Allahabad Bank,
Industrial Finance Branch,37, Mumbai Samachar Marg, Fort, Mumbai – 400023,
Maharashtra, India Email Id : adlalwani@rediffmail.com |
|
Nature of
instrument creating charge |
1.General Letter
of Hypothecation |
|
Date of
instrument Creating the charge |
31.10.2011 |
|
Amount secured by
the charge |
Rs.350.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by bank
from time to time Terms of
repayment As stipulated by
bank from time to time Margin As stipulated by
bank from time to time Extent and
operation of the charge First charge
(present and future) = FLC/ILC = Rs.350.000 Millions and/or as stipultaed by
bank from time to time Others As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First
charge(present and future) on following assets:-(1)hypothecation of all
future current assets of trading segment, including but not limited to stocks
of and other materials whether raw or manufactured or in process of manufacture and other stocks and stores
which now or hereafter from time to time during this security shall be
brought in stored or be in or about the company's premises or godowns in the state of or whereever
else the same may be whether in possession of the company or of any third party
including all such products, goods and property as may be in course of
transit by ship, rail or
otherwise or awaiting transit by ship, rail or otherwise relating to the
company's trading segment located at Taloja, Mahrashtra and wheresoever and
or entire assets of the company (2) Hypothecation
of all book debts outstandings monies receivable, claims, bills, contracts,
engagements, securities, investments, cash in hand at banks, rights and
assets whether forming the subject of any
delivery order documents of title negotiable instrument, policy of
insurance or other mercantile documents such as bills of lading and or
RR'S/LRS/accepted challan in respect of imports/consignment of various
trading materials in favour of the company, relating to trading segment or
any third party together with the benefit of all right relating there to for
the purpose and upon the terms |
Fixed Assets:
- Land
- Office Buildings
- Plant and Machinery
- Electric Installation
- Furniture and Fixtures
- Computer
- Vehicle
- Office Equipments
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.50.24 |
|
|
1 |
Rs.78.13 |
|
Euro |
1 |
Rs.64.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.