MIRA
INFORM REPORT
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Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
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Name : |
GHARDA CHEMICALS LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
06.03.1967 |
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Com. Reg. No.: |
11-013688 |
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Capital Investment / Paid-up Capital : |
Rs.6.451 Millions |
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CIN No.: [Company
Identification No.] |
U24110MH1967PLC013688 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG00454G |
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PAN No.: [Permanent
Account No.] |
AAACG1255E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Seller of Pesticides, Intermediates, Weedicides, Formulations, Veterinary Drugs, Plant Nutrients and Polymers. |
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No. of Employees : |
1500 (In Office 300 and In Factory 1200) Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
A (66) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 27986520 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and a reputed company having fine track. Financial positions of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Rodriques |
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Designation : |
Accounts Department |
LOCATIONS
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Registered Office / Head Office : |
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Tel. No.: |
91-22-33065600 (30 lines) |
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Fax No.: |
91-22-26404224 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Group European Office : |
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Tel. No.: |
+44 -208-6554103 |
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Fax No.: |
+44-208-6554102 |
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Group U.S Office : |
660, Newtobn, |
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Tel. No.: |
+1 -215-9689474 |
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Fax No.: |
+1 -215-9689474 |
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Factory 1 : |
Dombivali Plant: B-27, Phase I, MIDC, Dombivli (East), District Thane – 421
203, |
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Tel. No.: |
91-251-2440001 / 04 / 5690760 /5690761/5690762 |
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Fax No.: |
91-251-2472777 / 5690770 |
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E-Mail : |
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Factory 2 : |
Lote Plant D-1/2, MIDC, Lote Parshuram, Taluka – Khed, District – Ratnagiri,
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Tel. No.: |
91-2356-272252 / 254 /189 / 272018 |
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Fax No.: |
91-2356-272190 |
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E-Mail : |
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Factory 3 : |
Panoli Plant: Plot No. 3525 - 27 GIDC Industrial Estate, Panoli – 394
116, District – Bharuch, |
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Tel. No.: |
91-2646-272152 / 186 / 272575 – 78 / 272186 |
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Fax No.: |
91-2646-272141 |
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E-Mail : |
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Factory 4 : |
Ankleshwar Plant Post Box No. 90, Plot No. 805-806, GIDC Estate, Ankleshwar
– 393 002, |
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Tel. No.: |
91-2646-222271/251472/250305 |
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Fax No.: |
91-2646-250116 |
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E-Mail : |
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Factory 5 : |
Phase II Industrial Estate, Samba-184121, |
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Overseas Office : |
·
115, Obtuse Hill, Tel. No.: + 1 203 740 1600 Fax No.: + 1 203 740 2501 E-Mail: ghardaus@gharda.com
·
Tel No: 215-9689474 Fax No: 215-9689574 Email: ghardaus@gharda.com
·
Tel No: 44 208 6554103 Fax No.: 44 208 6554102
Agrochemicals Holbrook House, 72, Tel. No.:+ 44 208 655 4103 Fax No.:+ 44 208 655 4102 E-Mail: ghardauk@gharda.com
Polymers Palon International, P. O. Box 4080-2003, EB Haarlem, The Tel. No.: 31 23 5401077 Fax No.: 31 23 5401247 E-Mail: palon@wxs.nl |
DIRECTORS
AS ON 17.09.2011
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Name : |
Dr. Hormusji Keki Gharda |
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Designation : |
Managing Director |
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Address : |
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Date of Birth/Age : |
25.09.1929 |
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Date of Appointment : |
06.03.1967 |
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Directorship in other companies:
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Name : |
Mrs. Keki Aban Gharda |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
04.03.1992 |
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Date of Appointment : |
17.09.1986 |
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Directorship in
other companies:
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Name : |
Mrs. Almitra Hoshang Patel |
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Designation : |
Director |
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Address : |
50 Kothnur, |
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Date of Birth/Age : |
01.03.1936 |
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Date of Appointment : |
13.12.2007 |
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Directorship in
other companies:
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Name : |
Mr. Thakorbhai Dhananjay Desai |
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Designation : |
Director |
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Date of Birth/Age : |
23.08.1942 |
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Date of Appointment : |
13.08.2007 |
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Directorship in
other companies:
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Name : |
Mr. Alexander Koipuram Luke |
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Designation : |
Additional Director |
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Address : |
Salin, Chthoanoor, Kollan-391572, |
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Date of Birth/Age : |
04.08.1948 |
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Date of Appointment : |
29.07.2009 |
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Date of Cessation : |
13.02.2010 |
KEY EXECUTIVES
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Name : |
Mr. Michael Raj |
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Designation : |
Company Secretary
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Address : |
B2 Greenfield Chs Lady Fatima Road Poinsur, Kandivali, Mumbai-400067,
Maharashtra, India |
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Date of Birth/Age : |
26.11.1967 |
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Date of Appointment : |
16.11.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2011
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Names of Shareholders |
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No. of Shares |
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Dr.Keki Hormusji Gharda Jt. With Mrs.Aban Keki Gharda |
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1010 |
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Mrs. Bakhtawar Erach Daruwalla Jt. With Dr.Erach Hormusji Daruwalla |
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105 |
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Mrs Bakhtawar Erach Daruwalla Jt. With Dr.Erach Hormusji Daruwalla |
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105 |
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Mrs.Jer R. Kavasmaneck |
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2961 |
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Mrs.Aban K. Gharda Jt. With Dr.Keki H. Gharda |
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1000 |
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Mr.Jitendra P. Somaiya Jt. With Mrs. Jyoti J. Somaiya |
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8 |
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Mr. Darius R. Kavasmaneck |
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7535 |
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Miss Perin Bahadur Mehta |
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172 |
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Mr. Minochar Bahadur Mehta |
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272 |
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Mr. Darayes Bahadur Mehta |
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8 |
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Mrs. Kailashben Dhiru Desai |
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300 |
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Mrs Simonil S. Kakalia |
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2 |
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Mrs Simonil S. Kakalia Jt. With Mrs.Almitra H. Patel |
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435 |
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Miss Aviva H. Patel Jt. With Smt.Almitra H. Patel |
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448 |
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Mrs.Maharukh Murad Oomrigar Jt. With Miss Zarana Murad Oomrigar Jt. With Master Vihan Murad Oomrigar |
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3324 |
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Mrs.Almitra Hoshang Patel |
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1056 |
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Mr.Vithaldas Motiram Panchal Jt. With Mrs.Babuben Vithaldas Panchal |
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10 |
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Mr.Laxmidas P. Bhanushali |
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5 |
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Mrs.Vijaya Vishwanath Hiremath |
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401 |
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Mr.Nagin Padamshi Sheth Jt. With Mrs. Urmila N Sheth |
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55 |
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Dr.Manmohan Sharma Jt. With Mrs.Sudha Sharma |
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5 |
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Mr.Rusi N. Sethna |
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200 |
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Dr.Erach Hormasji Daruwalla |
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25 |
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Mr.Noshir K. Warden Jt. With Mrs.Freny N.Warden |
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308 |
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Mr.Chandrakant Harilal Saheba Jt.Chandrika Chandrakant Saheba |
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20 |
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Mrs.Nayana Rajendra Panchal Jt. With Mr.Nagardas Hariram Panchal |
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40 |
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Dr.Shantaram Govind Kane Jt. With Mrs.Suneeti S. Kane |
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20 |
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Mrs.Susamma Mathew |
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1 |
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Mr.Pallavur Sankaranarayan Kalyanasundaram |
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7 |
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Mr.Pulinattu Cherian Joseph |
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5 |
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Mr.K.Balusami |
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20 |
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Mrs. Lalita Venktesh Koppikar |
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20 |
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Lt.Col.Adi Munchershaw Kavasmaneck Jt. With Mrs.Aloo Adi Kavasmaneck |
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20 |
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Mr.Percy R. Kavasmaneck Jt. With Mrs.Aban P.Kavasmaneck |
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2299 |
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Dr.Digambar Ramkrishna Tatke |
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10 |
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Mr.Behramkamdin Mehernosh Meherji |
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50 |
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Mrs.Aban P.Kavasmaneck Jt. With Mr.Percy R. Kavasmaneck |
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1021 |
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Fali Nasvanji Madon |
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22 |
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Mrs.Chandrika Chandrakant Saheba Jt. With Mr.Chandrakant Harilal
Saheba |
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20 |
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Mrs.Luziamma Thomas |
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1 |
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Mr.Gaud Prakashchandra Shankarlal |
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15 |
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Mr.Conrad Anthony Rebello Jt. With Dr.Damascene Rebello Jt. With Mrs. Agnes Mary Conception Rebello |
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96 |
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Mr. Colin Mario Rebello Jt. With Dr.Damascene Rebello Jt. With Mrs. Agnes Mary Conception Rebello |
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2544 |
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Mrs.Maharukh Murad Oomrigar |
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490 |
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Mr.Percy R. Kavasmaneck |
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981 |
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Mr. Saumil Chandrakant Saheba Jt. With Mr.Chandrakant Harilal Saheba Jt. With Mrs.Chandrika Chandrakant Saheba |
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25 |
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Gharda Medical & Advanced Technologies Foundation, India |
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36652 |
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Bobby Caitan Pinto |
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5 |
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Neeta Rambhai Bhanushali |
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5 |
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Ashok Laxmidas Bhanushali |
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105 |
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Malte Pankaj Ashokkumar |
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5 |
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Purnima R. Hajvane |
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5 |
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Mehul J. Somaiya |
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160 |
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Udayan Arvind Maroo |
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50 |
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Bomi P Patel |
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5 |
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Darius Rutton Kavasmaneck |
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5 |
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Darius Rutton Kavasmaneck Jt. With Pearl Darius Kavasmaneck |
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5 |
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Darius Rutton Kavasmaneck Jt. With Mitchelle Darius Kavasmaneck |
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5 |
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Darius Rutton Kavasmaneck Jt. With Aban Darius Kavasmaneck |
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5 |
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Mr.Manoj Chandravadan Gandhi |
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10 |
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Leena Gandhi |
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10 |
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Dhananjay T. Desai Jt. Keki H.Gharda |
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5 |
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Total |
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64514 |
Equity Shares Breakup (Percentage of Total Equity):
As on 17.09.2011
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Category |
Percentage |
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Bodies corporate |
57.00 |
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Directors or relative of directors |
11.00 |
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Other top fifty (50) shareholders |
32.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Seller of Pesticides, Intermediates, Weedicides, Formulations, Veterinary Drugs, Plant Nutrients and Polymers. |
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Products : |
Product Description · Pesticides, Intermediates and Weedicides · Insecticides
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Exports : |
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Products : |
· Insecticides · Herbicides · Fine Chemicals |
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Countries : |
· European Countries · · · · |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Customers : |
· End Users · Farmers |
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No. of Employees : |
1500 (In Office 300 and In Factory 1200) Approximately |
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Bankers : |
· Canara Bank Address: · Canara Bank Address: CSB, · Canara Bank, Fort ·
Bank of ·
Central Bank of Address; Flora Fountain Branch,
Mumbai – 400 023, ·
Central Bank of Address: Mumbai Main Office, · Societe Generale Address: Maker chambers IV, Nariman point,
Mumbai – 400 021, · The ICICI Bank Limited · State Bank of Address: State Bank Bhavan, Mumbai-400021, · Karur Vyasya Bank Limited · HSBC Bank |
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Facilities : |
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Banking Relations
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Good |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountant |
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Address : |
12, |
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Associates : |
· [CIN No.: U24299GJ1980PLC003929] Post Box
No. 90, Plot No. 805-806, GIDC Estate, Ankleshwar - 393 002, · Gharda
USA Inc, · Gharda Australia Inc · Gharda
Australia Pty Limited, · Gharda
Argentina Pty Limited, · Gharda Investment Syndicate · Gharda Insecticides Limited, Ankaleshwar |
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Subsidiaries : |
· Gujarat Insecticides Limited, Gharda USA Inc. (CIN No.: U24299GJ1980PLC003929) · Gharda Australia Pty. Limited · Gharda Generics Inc. · Gharda Investment Syndicate |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity shares |
Rs. 100/- each |
Rs. 15.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
64514 |
Equity shares |
Rs. 100/-
each |
Rs. 6.451
millions |
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Of the above
62166 Equity Shares of Rs. 100 each fully paid
are issued as bonus shares by capitalization of General Reserve and Securities
Premium Account.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
6.451 |
6.451 |
6.451 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6990.179 |
6221.998 |
5532.827 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6996.630 |
6228.449 |
5539.278 |
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LOAN FUNDS |
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1] Secured Loans |
328.485 |
166.868 |
1897.771 |
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2] Unsecured Loans |
199.196 |
131.919 |
95.630 |
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TOTAL BORROWING |
527.681 |
298.787 |
1993.401 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7524.311 |
6527.236 |
7532.679 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1629.546 |
1638.675 |
1445.257 |
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Capital work-in-progress |
250.715 |
210.500 |
504.246 |
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INVESTMENT |
96.508 |
175.832 |
95.434 |
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DEFERREX TAX ASSETS |
76.541 |
120.322 |
177.417 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
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Inventories |
2372.239
|
2106.156
|
2815.651
|
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Sundry Debtors |
3236.630
|
2790.987
|
2509.980
|
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Cash & Bank Balances |
500.386
|
316.171
|
207.260
|
|
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Other Current Assets |
511.032
|
465.515
|
663.448
|
|
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Loans & Advances |
664.068
|
522.476
|
543.197
|
|
Total
Current Assets |
7284.355
|
6201.305
|
6739.536
|
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1026.228
|
1081.427
|
872.694
|
|
|
Other Liabilities |
579.822
|
539.384
|
399.912
|
|
|
Provisions |
207.304
|
198.587
|
156.605
|
|
Total
Current Liabilities |
1813.354
|
1819.398
|
1429.211
|
|
|
Net Current Assets |
5471.001
|
4381.907
|
5310.325
|
|
|
|
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7524.311 |
6527.236 |
7532.679 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
9565.485 |
8948.481 |
8432.709 |
|
|
|
Other Income |
392.028 |
327.732 |
333.090 |
|
|
|
TOTAL (A) |
9957.513 |
9276.213 |
8765.799 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
5434.167 |
4874.050 |
4478.543 |
|
|
|
Excise |
0.000 |
34.891 |
1.441 |
|
|
|
Personnel Expenses |
0.000 |
760.313 |
660.087 |
|
|
|
Manufacturing and Other Expenses |
3052.248 |
2011.449 |
1994.872 |
|
|
|
Expenses Capitalised |
0.000 |
0.000 |
(2.708) |
|
|
|
TOTAL (B) |
8486.415 |
7680.703 |
7132.235 |
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1471.098 |
1595.510 |
1633.564 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
47.245 |
110.768 |
227.110 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1423.853 |
1484.742 |
1406.454 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
305.513 |
352.984 |
433.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1118.340 |
1131.758 |
973.062 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
237.561 |
367.359 |
323.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
880.779 |
764.399 |
649.218 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3259.516 |
2646.786 |
2165.151 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
76.440 |
129.844 |
|
|
|
Dividend |
|
64.514 |
32.257 |
|
|
|
Tax on Dividend |
200.673 |
10.715 |
5.482 |
|
|
BALANCE CARRIED
TO THE B/S |
3939.622 |
3259.516 |
2646.786 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4179.627 |
4324.682 |
3999.122 |
|
|
TOTAL EARNINGS |
4179.627 |
4324.682 |
3999.122 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
918.772 |
1090.734 |
|
|
|
Stores & Spares |
NA |
0.160 |
0.133 |
|
|
|
Capital Goods |
NA |
10.540 |
11.111 |
|
|
TOTAL IMPORTS |
NA |
929.472 |
1101.978 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.652 |
11.849 |
10.063 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.84 |
8.24 |
7.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.69 |
12.64 |
11.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.54 |
14.43 |
10.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.18 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.33 |
0.34 |
0.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.01 |
3.40 |
4.72 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from 5/6,
Operations:
The total sales turnover for the year ended 31 st March, 2011 was Rs.9570.000 millions reflecting an increase of 7% as compared to previous year’ turnover of Rs.8950.000 millions. The Profit after tax has increased to Rs.880.800 millions from Rs.764.400 millions of the previous year.
During the year, the company experienced lower volumes in Technical products on account of competition from China . However, volumes in the Formulations were much higher as compared to the previous year, as a result, the company could achieve higher turnover and profits.
History
The highly prolific Dombivli Plant was set up in 1971. The Lote Parshuram plant was commissioned in
1989. A plant manufacturing
chloropyrifos was commissioned in September 1996.
Subject is the first company world wide to go into the large-scale
production of anilofos, the rice weedicide.
New R and D and Quality Control laboratories were commissioned in August
1996.
In late 1999, the company secured ISO 9001 certification for the designing, manufacturing and marketing of high performance speciality engineering alloys and composites and related monomers and chemicals.
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24110MH1967PLC013688 |
|
Name of the
company |
GHARDA CHEMICALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
5/6, “Jer Mansion”, 10, W. P. Warde Road, Off Turner Road, Bandra (West), Mumbai – 400 052, Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of Address: State
Bank Bhavan, |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of Entry
and Declaration |
|
Date of
instrument Creating the charge |
21.05.2008 |
|
Amount secured by
the charge |
Rs. 910.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Agreement Terms of
Repayment As per Agreement Margin As per Agreement Extent and
Operation of the charge The above is to
secure SBI corporate loan of US $ 21 Million equivalent to Rs. 910.000
Millions. The charge in
favour of Canara Bank, CBI, BOB, UCO and Karur Bank for their working capital
facilities shall rank second and subservient to the mortgage created in
favour of SBI for its corporate loan |
|
Short particulars
of the property charged |
Joint Mortgage by
Deposit of Title Deed with Canara Bank, Canara Bank Acting for itself and as
agent of CBI, BOB, UCO, KVB and SBI in Respect of Immovable Properties i.e.
Plot No. B22, B23, B27, B28, B29 Dombivali Industrial Area Kalyan, District
Thane and Plot No. D/1/2, Lote Parshuram Tal. Khed District Ratnagiri and
Plot No. 3525 Panoli Industrial Area GIDC Ankleshwar Bharuch More
Patricularly described in part A, B and C1 of Second Schedule of More. |
|
Name of the
company |
GHARDA CHEMICALS LIMITED |
|
Presented
By |
GHARDA CHEMICALS
LIMITED |
|
1) Date and
description of instrument creating the change |
Deed of
Hypothecation dated September, 2000, executed by Gharda Chemicals Limited
(therein and hereinafter referred to as the Companf) in favour of ICICI
LIMITED. (therein and hereinafter referred to as ICICl) and a copy of which
is enclosed. |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Term loan
aggregating to Rs.330.000 millions |
|
3) Short particular
of the property charged. If the property acquired is subject to charge, date
of the acquired of the property should be given |
The whole of the
movable properties of the company including its Moveable plant and machinery
spares, tools and accessories and other movables, both present and future
whether installed or not and whether now lying loose or in cases or which are
now lying or stored in or about or shall hereafter from time during the
continuance of the security of these presents be brought into or be in or
stored or be in or about the company’s factories, premises and godowns
Dombivil, District Thane, Lote District Ratnagiri, and Panoli, in the state
of Gujarat or wherever else the same may be or be held by any party to the
order or disposition of the company or in the course of transit or on high
seas or on order, or delivery, howsoever and wheresoever in the possession of
the company and either by way of substitution or addition. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
|
|
5) Name and
Address and description of the person entitled to the charge. |
·
ICICI
Limited, |
|
6) Date and brief description of instrument
modifying the charge |
27109/2000 :
Joint mortgage by deposit of Title deeds Registered vide
Sr.No.358 dt.19/l 012000 |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Past modification: Deed of
modification and confirmation dt 2710112003 Amendatory
Agreement dt. 27101/2003 (Copies enclosed) At the request of
the Borrower, the Lender has agreed to convert the amount into Equivalent Fo
Currency Loan. |
fixed assets:-
·
·
· Buildings
· Plant and Machinery
· Computers
· Vehicles
· Furniture and Fixtures
· Office Equipments
Trade references:-
· Reliance Industries Limited, Mumbai
· Indian Oil, Mumbai
· Anup Engineering
· Durametalic Sanmar
·
Fisher Rosemount (
· H. K. Industries
·
IAEC Industries
· Horizon Polymers Engineers Limited
· Yash Rasayan
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.50 |
|
|
1 |
Rs.77.73 |
|
Euro |
1 |
Rs.65.18 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.