|
Report Date : |
04.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
VENUS LIFESTYLES LIMITED (w.e.f. 26.06.2010) |
|
|
|
|
Formerly Known
as: |
VENUS FIBERS LIMITED |
|
|
|
|
Registered
Office : |
101, 21st Century Business Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.04.2004 |
|
|
|
|
Com. Reg. No.: |
043911 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.37.280 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111GJ2004PLC043911 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTV01261B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCV0587H |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier and manufacturer of embroidery threads,
embroidered fabrics, embroidered sarees, embroidered kurti. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1601624 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track.
Financially company is performing well. Trade relations are relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitment. The company can be considered 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
101, 21st Century Business Centre, Ring Road, Surat –
395002, Gujarat, India |
|
Tel. No.: |
91-261-2327753 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Corporate office: |
B-218. Avon Arcade, D. J. Road, Vile Parle (W), Mumbai – 400
056, Maharashtra, India |
|
|
|
|
Marketing Office: |
126, Ajanta Industrial Estate, Beside Torrent Power, Near
Umiya Chowk, |
|
Tel. No.: |
91-261-2557756 |
|
E-Mail : |
|
|
|
|
|
Manufacturing Unit 1: |
Plot No.1-143 and 1-144, Road No.7, I Zone, GIDC, Sachin, Surat, Gujarat, India |
|
Tel. No.: |
91-261-2397755 |
|
|
|
|
Manufacturing Unit 2: |
Shade No.452 to 455, B-82, Road No.4, Laxmi Aata Flour Mill, Chemical Zone, GIDC, Sachin, Surat, Gujarat, India |
DIRECTORS
AS ON 20.09.2011
|
Name : |
Mr. Manojkumar T Mevawala |
|
Designation : |
Director |
|
Address : |
902, A-Tower Somnath Enkalev, Athawalines,
B/H Sargam Shopping, Parle Point, Surat – 395007,
Gujarat, India |
|
Date of Birth/Age : |
23.03.1967 |
|
Date of Appointment : |
05.04.2004 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U17111GJ2004PLC043911 |
VENUS LIFESTYLES LIMITED |
Managing director |
17/01/2012 |
20/09/2004 |
- |
Active |
NO |
|
2 |
U17122GJ2006PTC049639 |
INTERNATIONAL THREADS
COMPANY PRIVATE LIMITED |
Additional director |
03/05/2012 |
27/12/2006 |
- |
Active |
NO |
|
3 |
U01403GJ2008PLC054040 |
AGRI FIBER LIMITED |
Director |
04/06/2012 |
26/05/2008 |
- |
Active |
NO |
|
4 |
U17120GJ2009PTC056333 |
AJANTA FIBERS PRIVATE
LIMITED |
Director |
12/03/2009 |
12/03/2009 |
- |
Active |
NO |
|
5 |
U17120GJ2009PTC058754 |
AMCO EMBROTECH PRIVATE
LIMITED |
Director |
03/12/2009 |
03/12/2009 |
- |
Active |
NO |
|
Name : |
Mr. Rameshbhai D. Patel |
|
Designation : |
Director |
|
Address : |
oo6,Raj Apartment, Haribhai Wagajis Street, Katargam,
Surat - 395003, Gujarat, India |
|
Date of Birth/Age : |
12.05.1957 |
|
Date of Appointment : |
05.04.2004 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U17111GJ2004PLC043911 |
VENUS LIFESTYLES LIMITED |
Director |
05/04/2004 |
05/04/2004 |
- |
Active |
NO |
|
2 |
U01403GJ2008PLC054040 |
AGRI FIBER LIMITED |
Director |
26/05/2008 |
26/05/2008 |
18/11/2008 |
Active |
NO |
|
3 |
U17120GJ2009PTC058559 |
EROS THREADS PRIVATE
LIMITED |
Director |
12/11/2009 |
12/11/2009 |
- |
Active |
NO |
|
Name : |
Mr. Kantibhai G. Patel |
|
Designation : |
Director |
|
Address : |
11, Sparsh Bunglow, Nr. St. Mark
School, N/R Gangeshwar Mahadev Temple, Adajan, Surat - 395009, Gujarat, India |
|
Date of Birth/Age : |
03.09.1961 |
|
Date of Appointment : |
28.01.2009 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U17122GJ2006PTC049639 |
INTERNATIONAL THREADS
COMPANY PRIVATE LIMITED |
Director |
27/12/2006 |
27/12/2006 |
- |
Active |
NO |
|
2 |
U17111GJ2004PLC043911 |
VENUS LIFESTYLES LIMITED |
Director |
28/01/2009 |
07/02/2008 |
- |
Active |
NO |
|
3 |
U01403GJ2008PLC054040 |
AGRI FIBER LIMITED |
Director |
23/12/2008 |
26/05/2008 |
14/04/2010 |
Active |
NO |
|
4 |
U17120GJ2009PTC056333 |
AJANTA FIBERS PRIVATE
LIMITED |
Director |
12/03/2009 |
12/03/2009 |
- |
Active |
NO |
|
5 |
U17120GJ2009PTC058754 |
AMCO EMBROTECH PRIVATE
LIMITED |
Additional director |
03/05/2012 |
03/05/2012 |
- |
Active |
NO |
|
Name : |
Mr. Dhaval S. Patel |
|
Designation : |
Director |
|
Address : |
385, Saikrupa, Gandhi Chowk,
Katargam, Surat - 395 004, Gujarat, India |
|
Date of Birth/Age : |
05.07.1984 |
|
Date of Appointment : |
07.02.2008 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of the
Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U17122GJ2006PTC049639 |
INTERNATIONAL THREADS
COMPANY PRIVATE LIMITED |
Director |
02/02/2007 |
02/02/2007 |
03/05/2012 |
Active |
NO |
|
2 |
U17111GJ2004PLC043911 |
VENUS LIFESTYLES LIMITED |
Director |
07/02/2008 |
07/02/2008 |
03/05/2012 |
Active |
NO |
|
3 |
U17120GJ2009PTC058754 |
AMCO EMBROTECH PRIVATE
LIMITED |
Director |
03/12/2009 |
03/12/2009 |
03/05/2012 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Manojkumar T Mevawala |
|
630000 |
|
Rameshbhai D. Patel |
|
774000 |
|
Kantibhai G. Patel |
|
635000 |
|
Dhaval S. Patel |
|
621000 |
|
Sejal M. Mevawala |
|
5000 |
|
Prashant K. Patel |
|
5000 |
|
Shashikant G. Patel |
|
5000 |
|
Ajanta Fibers Private Limited (100% subsidiary
of M/s. Venus Lifestyles Limited by virtue of Section 4(i)(a)
of the Act), Surat |
|
1653000 |
|
Total |
|
4328000 |
LIST OF ALLOTTEES AS ON 19.12.2011
|
Names of Shareholders |
|
No. of Shares |
|
Manojkumar T Mevawala |
|
180000 |
|
Rameshbhai D. Patel |
|
270000 |
|
Kantibhai G. Patel |
|
250000 |
|
Total |
|
700000 |
LIST OF ALLOTTEES AS ON 29.05.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shashikant G. Patel |
|
300000 |
|
Total |
|
300000 |
AS ON 20.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier and manufacturer of embroidery threads,
embroidered fabrics, embroidered sarees, embroidered kurti. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Mid Corporate Branch,1st Floor Kiran Chambers, Ground Floor, Trade House , Mandarwaja, Ring Road, Surat - 395002, Gujarat, India ·
HDFC Bank Limited, HDFC Bank House Senapati
Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G.S.V. and Company Chartered Accountant |
|
Address : |
110, "The Financial Supermarket", 1st Floor, 21st Century Business
Center, Ring Road, Surat – 395002, Gujarat, India |
|
|
|
|
Subsidiaries : |
· International Threads Company Private Limited ·
Ajanta Fibers Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3728000 |
Equity Shares |
Rs.10/- each |
Rs.37.280
Millions |
|
|
|
|
|
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4328000 |
Equity Shares |
Rs.10/- each |
Rs.43.280
Millions |
|
|
|
|
|
AFTER AS ON
30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5328000 |
Equity Shares |
Rs.10/- each |
Rs.53.280
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 |
37.280 |
32.030 |
31.530 |
|
|
2] Share Application Money |
60.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
303.126 |
176.217 |
141.506 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
400.406 |
208.247 |
173.036 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
441.224 |
360.277 |
175.135 |
|
|
2] Unsecured Loans |
5.413 |
19.925 |
24.148 |
|
|
TOTAL BORROWING |
446.637 |
380.202 |
199.283 |
|
|
DEFERRED TAX LIABILITIES |
14.587 |
7.852 |
2.962 |
|
|
|
|
|
|
|
|
TOTAL |
861.630 |
596.301 |
375.281 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
233.543 |
254.383 |
81.474 |
|
|
Capital work-in-progress |
3.276 |
0.000 |
18.585 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.360 |
0.100 |
0.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.0000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
390.390
|
194.933 |
84.095 |
|
|
Sundry Debtors |
542.957
|
222.249 |
265.888 |
|
|
Cash & Bank Balances |
44.682
|
4.916 |
26.723 |
|
|
Other Current Assets |
2.736
|
2.378 |
0.000 |
|
|
Loans & Advances |
15.390
|
8.605 |
3.723 |
|
Total
Current Assets |
996.155
|
433.081 |
380.429 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
317.273
|
61.474 |
95.758 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
54.431
|
29.789 |
9.549 |
|
Total
Current Liabilities |
371.704
|
91.263 |
105.307 |
|
|
Net Current Assets |
624.451
|
341.818 |
275.122 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
861.630 |
596.301 |
375.281 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2768.677 |
1191.842 |
606.933 |
|
|
|
Other Income |
6.959 |
20.369 |
1.484 |
|
|
|
Foreign Currency Rate Difference |
0.000 |
0.000 |
0.029 |
|
|
|
TOTAL (A) |
2775.636 |
1212.211 |
608.446 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
2332.583 |
973.784 |
469.891 |
|
|
|
Manufacturing service costs |
60.667 |
20.859 |
71.959 |
|
|
|
Employee related expenses |
153.850 |
82.639 |
0.000 |
|
|
|
Administrative selling other expenses |
35.890 |
21.680 |
23.156 |
|
|
|
Selling and Distribution Expenses |
0.000 |
0.000 |
1.623 |
|
|
|
Increased / (Decreased) In Stock |
0.000 |
0.000 |
(6.878) |
|
|
|
TOTAL (B) |
2582.990 |
1098.962 |
559.751 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
192.646 |
113.249 |
48.695 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.050 |
37.826 |
20.383 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
158.596 |
75.423 |
28.312 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.430 |
22.129 |
10.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
130.166 |
53.294 |
18.142 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
50.862 |
18.583 |
6.758 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
79.304 |
34.711 |
11.384 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
51.372 |
16.661 |
5.277 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
130.676 |
51.372 |
16.661 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.27 |
10.84 |
3.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.86
|
2.86 |
1.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.70
|
4.47 |
2.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.58
|
7.75 |
3.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.26 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.04
|
2.26 |
1.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60
|
4.75 |
3.61 |
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 |
No |
|
5)
Type of Business |
Yes |
|
6)
Line of Business |
Yes |
|
7)
Promoter's background |
Yes |
|
8)
No. of employees |
No |
|
9)
Name of person contacted |
No |
|
10)
Designation of contact person |
No |
|
11)
Turnover of firm for last three years |
Yes |
|
12)
Profitability for last three years |
Yes |
|
13)
Reasons for variation <> 20% |
-- |
|
14)
Estimation for coming financial year |
No |
|
15)
Capital in the business |
Yes |
|
16)
Details of sister concerns |
Yes |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
No |
|
20)
Export / Import details (if applicable) |
-- |
|
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 |
Yes |
|
30)
Major Shareholders, if available |
Yes |
NOTE:
The registered office address of the company has been shifted from Survey No 332plot No 18, Vasundhara Industrial Co Op Society Surat 395004, Gujarat, India to present address w.e.f. 28.06.2008
FORM 8:
|
Corporate identity number of the company |
U17111GJ2004PLC043911 |
|
Name of the company |
VENUS LIFESTYLES LIMITED |
|
Address of the registered office or of the
principal place of business in |
101, 21st
Century Business Centre, Ring Road, Surat – 395002, Gujarat, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable Property |
|
Particular of charge holder |
STATE BANK OF INDIA |
|
Nature of instrument creating charge |
Form C.10-A-Memorandum relating to deposit
of title deeds for creation of further charge for Term Loan overall limit where
the initial charge is created by way of Mortgage by deposit of Title Deeds |
|
Date of instrument Creating the charge |
20/01/2012 |
|
Amount secured by the charge |
Rs.871.100 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest CC-4.00% above BR i.e 14.00%p.a. SLC -1.00% above the rate of FBWC limits TL (Existing)-4.50% above BR
i.e.14.50%p.a. TL (Existing)-4.25% above BR i.e.14.25%p.a
and TL (New)-4.25% above BR i.e.14.25% Terms of Repayment Working Capital: On Demand Term Loan: As per repayment schedule TL(Existing): 28 months TL(Existing): 36 months TL(New): 90 months including moratorium of
6 months Margin RM: 30% SIP: 30% Finished Goods : 40% Receivables(cover period 90 days) : 50% Letter of Credit: 15% Bank Gurantee: 25% New Term Loan: 33.31% Capex LC: : 33.31% Buyers Credit: 33.31% Extent and Operation of the charge The charge will be continuing security to
secure repayment of all monies including interest, costs, charges and
expenses due or becoming due and payable by the borrower to the bank |
|
Short particulars of the property charged |
Plot No. C/1/B/452 and 453 adm. about 703
sq mtrs and super structure thereon at Sachin Indu Area of GIDC situated on
the land bearing block No. 553 paiki at Vill: Talangpur, Tal: Choryasi, Dist:
Surat Plot No.454adm. about 703sq mtrs, land
bearing RS No.563/Pand388/PandPlot No.455adm. about 703sq mtrs, land bearing
RS No.388/P at Sachin Indu Area of GIDC, Vill:Talangpur-Ghabheni,Tal:Choryasi,Dist:Surat Plot No. I/143 and144 adm. about 4517.83
sq mtrs of Industrial estate of GIDC, Sachin Surat situated on the land
bearing RS No. 647/P and 650/P at Vill: Talangpur-Ghabheni, Tal: Choryasi,
Dist: Surat Plot No.17 and 18 adm. about 126.13.30 sq
mtrs at Vasundhara Indu Society situated on land bearing RS No. 332 TP scheme
4, FP no.1 city survey nondh no.991 at Vill: Katargam, Tal: Choryasi, Dist:
Surat Flat No.A/902 adm. about 4250 sq fts on 9th
floor of Somnath Enclave adm.137 sq mtrs constructed on land bearing
RSno.22/6, TP Scheme no.5(Umara-north) FP no.130 of vill Umara,Tal
Choryasi,Dist: Surat Flat No.6 adm about 565 sq ft of 52.49.03
sq mtrs on 1st floor of Shri Raj Apt constructed on land bearing old gram
panchayat Nondh No. 529 of vill:Katargam, Tal: Choryasi, Dist: Surat Bunglow No. A/2, adm about 188.10 sq. mtrs
at Satyam Society, situated on the land bearing Rev S No.524, Hissa No.
3/3/1/2/1 of village Katargam, Tal: Choryasi, Dist: Surat Office No.205/C super build up
798.00sq.fts about 74.13sq.mtrs, carpet area adm.520.00sq.fts about
48.308sq.mtrs on 2nd floor with adm.11.83 sq.mtrs. of 21st Century Business
Centre, Ring Road, Surat Office No.205/B super build up 992.00
sq.fts about 83.32 sq.mtrs, carpet area adm.48.87 sq.mtrs on 2nd floor with
adm.13.29 sq.mtrs. of 21st Century Business Centre, Ring Road, Surat Plot No. 456 adm. 799.20 sq mtrs, land
bearing RS No.388/P situated at Sachin Indu Area of GIDC, Vill: Talangpur-
Ghabheni, Tal: Choryasi, Dist: Surat |
|
Date of instrument modifying the charge |
21/03/2011 |
|
Particulars of the present modification |
Before: CC:300.000 Millions, SLC:40.000 Millions,
TL:1.300 Millions (Old), TL:00.600 Millions (Old), TL:01.82 Millions (Existing),
TL:10.73 Millions (Existing), LC:100.000 Millions, BG:1.000 Millions (Bank
Guarantee), CEL:6.000 Millions=TOTAL:57.44 Millions After: CC:300.000 Millions, SLC:40.000 Millions, TL:11.300
Millions (Existing), TL:74.700 Millions (Existing), TL:335.000 Millions
(New), LC:100.000 Millions, BG:8.500 Millions (Bank Guarantee), CEL:1.600
Millions=TOTAL:871.100 Millions |
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.54.55 |
|
|
1 |
Rs.85.48 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.