|
Report Date : |
09.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
EASTERN FOODS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 2273, New Industrial Estate, Jagatpur, Cuttack – 754021,
Orissa |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.11.2003 |
|
|
|
|
Com. Reg. No.: |
15-007383 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.60.330 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15312OR2003PTC007383 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BBNE00182A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Food Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 500000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The reserve of
the company appears to be insufficient. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. Note: Profit and Loss statement is not available. |
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 |
LOCATIONS
|
Registered Office : |
Plot No. 2273, New Industrial Estate, Jagatpur, Cuttack – 754021,
Orissa, India |
|
Tel. No.: |
91-671-2491605 / 2491505/ 2490386 |
|
Fax No.: |
91-671-2491795/ 2491505 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Subhrajeet Sahoo |
|
Designation : |
Managing Director |
|
Address : |
Arunodaya Nagar, Cuttack – 753 012, Orissa, India |
|
Date of Birth/Age : |
01.01.1982 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
00861911 |
Other Directorship
|
S.No. |
CIN |
Name of the Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U51909WB1993PTC061205 |
Chandraprabhu
Vyapaar Private Limited |
Director |
22-12-93 |
22-12-93 |
- |
Active |
NO |
|
2 |
U51109WB1995PTC070299 |
Nirmohi Steel
Private Limited |
Director |
29-03-95 |
29-03-95 |
- |
Active |
NO |
|
3 |
U15311OR1984PTC001409 |
Eastern Roller
Flour Mills Private Limited |
Director |
01-07-00 |
01-07-00 |
- |
Amalgamated |
NO |
|
4 |
U27102OR2003PLC007354 |
Yazdani Steel
and Power Limited |
Director |
29-10-03 |
29-10-03 |
30-09-11 |
Active |
NO |
|
5 |
U15312OR2003PTC007383 |
Eastern Foods
Private Limited |
Managing
director |
01-01-10 |
12-11-03 |
- |
Active |
NO |
|
6 |
U21012OR1991PTC002746 |
Megha Papers
Private Limited |
Director |
20-05-04 |
20-05-04 |
- |
Active |
NO |
|
7 |
U45202OR1993PLC003328 |
Rajlaxmi
Construction Limited |
Whole-time
director |
01-04-09 |
01-04-09 |
- |
Active |
NO |
|
8 |
U74140OR2011PTC014207 |
Sps Lexolutions
Private Limited |
Director |
15-09-11 |
15-09-11 |
- |
Active |
NO |
|
9 |
U15400OR2011PTC014276 |
Eastern Gourmet
Private Limited |
Director |
27-09-11 |
27-09-11 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Surendra Nath Sahoo |
|
Designation : |
Director |
|
Address : |
Arunodaya Nagar, Arunodaya |
|
Date of Birth/Age : |
08.03.1948 |
|
Date of Appointment : |
12.11.2003 |
|
DIN No.: |
00688547 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U15311OR1984PTC001409 |
Eastern Roller
Flour Mills Private Limited |
Director |
06-09-84 |
06-09-84 |
- |
Amalgamated |
NO |
|
2 |
U74999OR1988PTC002047 |
Eastern Freeze
Private Limited |
Director |
18-07-88 |
18-07-88 |
- |
Active |
NO |
|
3 |
U21012OR1991PTC002746 |
Megha Papers
Private Limited |
Director |
18-02-91 |
18-02-91 |
- |
Active |
NO |
|
4 |
U45203OR1992PTC003140 |
Baba Lokanath
Mining And Engineers Private Limited |
Director |
08-09-92 |
08-09-92 |
- |
Active |
NO |
|
5 |
U05001OR1993PTC003329 |
Eastern Marines
Private Limited |
Director |
17-05-93 |
17-05-93 |
- |
Active |
NO |
|
6 |
U45202OR1993PLC003328 |
Rajlaxmi
Construction Limited |
Managing
director |
01-04-09 |
17-05-93 |
- |
Active |
NO |
|
7 |
U51109WB1995PTC070299 |
Nirmohi Steel
Private Limited |
Director |
29-03-95 |
29-03-95 |
25-02-06 |
Active |
NO |
|
8 |
U15412OR1996PTC004443 |
Eastern
Confectionery Private Limited |
Director |
22-05-96 |
22-05-96 |
- |
Active |
NO |
|
9 |
U15312OR2003PTC007383 |
Eastern Foods
Private Limited |
Director |
12-11-03 |
12-11-03 |
- |
Active |
NO |
|
10 |
U27102OR2003PLC007354 |
Yazdani Steel
and Power Limited |
Director |
17-11-03 |
17-11-03 |
30-09-11 |
Active |
NO |
|
11 |
U15400OR2011PTC014276 |
Eastern Gourmet
Private Limited |
Director |
27-09-11 |
27-09-11 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Samarjeet Sahoo |
|
Designation : |
Director |
|
Address : |
Arunodaya Nagar, Arunodaya Market – 753 012 |
|
Date of Birth/Age : |
02.02.1979 |
|
Date of Appointment : |
12.11.2003 |
|
DIN No.: |
00688554 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U51909WB1993PTC061205 |
Chandraprabhu Vyapaar
Private Limited |
Director |
22-12-93 |
22-12-93 |
03-01-06 |
Active |
NO |
|
2 |
U45203OR1992PTC003140 |
Baba Lokanath
Mining and Engineers Private Limited |
Director |
01-11-02 |
01-11-02 |
- |
Active |
NO |
|
3 |
U45202OR1993PLC003328 |
Rajlaxmi Construction
Limited |
Director |
20-05-03 |
20-05-03 |
- |
Active |
NO |
|
4 |
U15312OR2003PTC007383 |
Eastern Foods
Private Limited |
Director |
12-11-03 |
12-11-03 |
- |
Active |
NO |
|
5 |
U27102OR2003PLC007354 |
Yazdani Steel
and Power Limited |
Managing
director |
24-02-09 |
24-02-04 |
30-09-11 |
Active |
NO |
|
6 |
U74140OR2011PTC014207 |
Sps Lexolutions
Private Limited |
Director |
15-09-11 |
15-09-11 |
- |
Active |
NO |
|
7 |
U15400OR2011PTC014276 |
Eastern Gourmet
Private Limited |
Director |
27-09-11 |
27-09-11 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Sanjay Kumar Sahoo |
|
Designation : |
Director |
|
Address : |
Thakurpatna, Kendrapara – 754211, Orissa, India |
|
Date of Birth/Age : |
06.02.1961 |
|
Date of Appointment : |
12.11.2003 |
|
DIN No.: |
00850587 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U15311OR1984PTC001409 |
Eastern Roller
Flour Mills Private Limited |
Director |
01-02-03 |
01-02-03 |
Amalgamated |
NO |
|
2 |
U15312OR2003PTC007383 |
Eastern Foods
Private Limited |
Director |
12-11-03 |
12-11-03 |
Active |
NO |
|
3 |
U15400OR2011PTC014276 |
Eastern Gourmet
Private Limited |
Director |
27-09-11 |
27-09-11 |
Active |
NO |
|
|
|
|
Name : |
Mr. Sachidananda Das |
|
Designation : |
Whole Time Director |
|
Address : |
Gopalpur, |
|
Date of Birth/Age : |
24.12.1953 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
02814665 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Equity Shareholders |
|
No. of Shares |
|
Surendra Sahoo |
|
141644 |
|
Samarjeet Sahoo |
|
960 |
|
Suchitra Sahoo |
|
70942 |
|
Madhaba Prasad Sharma |
|
10830 |
|
Sidhartha Sarangi |
|
720 |
|
Chandraprabhu Vyappar (Private) Limited, |
|
24880 |
|
Surendra Nath Sahoo (HUF) |
|
2160 |
|
Baba Loknath Mining and Engineering (Private) Limited, |
|
56808 |
|
Lilly Sahoo |
|
8220 |
|
Rashnibala Sahoo |
|
15016 |
|
Sanjay Kumar Sahoo |
|
8260 |
|
Subhrajeet Sahoo |
|
35834 |
|
Pratyush Sahoo |
|
26200 |
|
Anjana Sharma |
|
8502 |
|
Upendranath Das |
|
1800 |
|
Shashi Bhusan Swain |
|
360 |
|
Smitaprabha Sahoo |
|
71640 |
|
Nirmoshi Steel Private Limited, |
|
20520 |
|
|
|
|
|
Total |
|
505296 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Baba Loknath Mining and Engineering (Private) Limited, |
|
98000 |
|
|
|
|
|
Total |
|
98000 |
As on: 10.02.2012
|
Names of Allottee |
|
No. of Shares |
|
Surendranath Sahoo |
|
689 |
|
Samarjeet Sahoo |
|
58 |
|
Subhrajeet Sahoo |
|
1119 |
|
Suchitra Sahoo |
|
100 |
|
Madhaba Prasad Sharma |
|
7511 |
|
Tuticorin Dealcomm Private Limited, India |
|
28846 |
|
Baba Loknath Mining and Engineering (Private) Limited, India |
|
8840 |
|
Chandraprabhu Vyappar (Private) Limited, India |
|
64437 |
|
Debdutta Sahoo |
|
1538 |
|
Lilly Sahoo |
|
4237 |
|
Megha Papers Private Limited, India |
|
5769 |
|
S.N. Sahoo and Company |
|
18547 |
|
|
|
|
|
Total |
|
141691 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
20.23 |
|
Directors
or relatives of directors |
|
79.77 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Food Products. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As on: 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Rice |
MT per day |
72 |
168 |
31301.53 |
|
Wheat |
MT per day |
300 |
300 |
45062.03 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch, OSIC
Building, Madhupatna, Cuttack – 753 010, Orissa, India ·
State Bank of India, Commercial Branch, Idcol House,
Unit-2, Ashok Nagar, Bhubaneswar - 751009, Orissa, India ·
Axis Bank Limited, Cuttack, India ·
ICICI Bank Limited ·
Urban Co-Operative Bank Limited, Jagatpur ·
Union Bank of ·
Canara Bank, Cuttack, India ·
HDFC Bank, Cuttack, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. K. Das and Associates Chartered Accountants |
|
Address : |
Room No. 001, Shyamkunj Apartment, |
|
PAN No.: |
AADFR8036K |
|
|
|
|
Associates
Companies : |
· Rajlaxmi Construction Limited · Dinabandhu Steel and Power Limited · Eastern Confectionery Private Limited ·
S. N. Sahoo and Company |
CAPITAL STRUCTURE
After: 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.100/- each |
Rs.80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
744987 |
Equity Shares |
Rs.100/- each |
Rs.74.499
millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
525000 |
Equity Shares |
Rs.100/- each |
Rs.52.500 millions |
|
100000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.10.000 millions |
|
|
Total |
|
Rs.62.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
505296 |
Equity Shares |
Rs.100/- each |
Rs.50.530
millions |
|
98000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.9.800
millions |
|
|
Total |
|
Rs.60.330 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 |
60.330 |
60.330 |
36.148 |
|
|
2] Share Application Money |
13.222 |
7.439 |
2.098 |
|
|
3] Reserves & Surplus |
51.860 |
41.528 |
22.388 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
125.412 |
109.297 |
60.634 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
166.115 |
205.877 |
110.686 |
|
|
2] Unsecured Loans |
20.838 |
22.838 |
16.076 |
|
|
TOTAL BORROWING |
186.953 |
228.715 |
126.762 |
|
|
DEFERRED TAX LIABILITIES |
3.814 |
2.760 |
2.504 |
|
|
|
|
|
|
|
|
TOTAL |
316.179 |
340.772 |
189.900 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
85.246 |
73.327 |
64.096 |
|
|
Capital work-in-progress |
4.501 |
21.442 |
0.413 |
|
|
|
|
|
|
|
|
INVESTMENT |
30.917 |
30.917 |
3.263 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
80.563
|
136.729
|
82.842 |
|
|
Sundry Debtors |
83.164
|
88.336
|
61.594 |
|
|
Cash & Bank Balances |
38.655
|
11.429
|
6.042 |
|
|
Other Current Assets |
13.271
|
0.000
|
0.000 |
|
|
Loans & Advances |
55.773
|
34.339
|
26.828 |
|
Total
Current Assets |
271.426
|
270.833 |
177.306 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
43.855
|
47.149
|
50.020 |
|
|
Other Current Liabilities |
27.704
|
5.524
|
4.232 |
|
|
Provisions |
4.967
|
4.084
|
2.241 |
|
Total
Current Liabilities |
76.526
|
56.757 |
56.493 |
|
|
Net Current Assets |
194.900
|
214.076 |
120.813 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.615 |
1.010 |
1.315 |
|
|
|
|
|
|
|
|
TOTAL |
316.179 |
340.772 |
189.900 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
NET INCOME FROM
OPERATIONS |
|
1000.035 |
729.268 |
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
42.575 |
31.715 |
|
|
|
|
|
|
|
Less |
INTEREST,
FINANCIAL CHARGES |
|
17.983 |
12.358 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
24.592 |
19.357 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
11.422 |
7.862 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
13.170 |
11.495 |
|
|
|
|
|
|
|
Less |
TAX |
|
4.401 |
5.258 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
|
8.769 |
6.237 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
14.54 |
17.25 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
3.83
|
4.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.12
|
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.10
|
2.61
|
3.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.55
|
4.77
|
3.14 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
No |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
CONTIGENCIES
LIABILITIES
There is disputed liabilities on account of OVAT, CST and Entry Tax amounting of Rs.7.260 Millions, Rs.1.335 Millions and Rs. 0.161 Million for the period from 01.04.05 to 31.03.07 respectively and OVAT and CST amounting of Rs. 0.534 Million and Rs. 0.150 Million for the period 01.04.207 to 30.06.2008 respectively against the company has been deposited amount Rs. 5.326 Millions under protest. The appeals are pending before the Sales Tax Tribunal, Orissa, Cuttack.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U15312OR2003PTC007383 |
|
Name of the company |
EASTERN FOODS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
Plot No. 2273, New Industrial Estate, Jagatpur, E-mail: ska_associate@rediffmail.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90078884 |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
State Bank of India, Commercial Branch, OSIC Building, Madhupatna,
Cuttack – 753 010, Orissa, India E-Mail : cs_deba@yahoo.co.in |
|
Nature of instrument creating charge |
1.
Sanction Letter 2.
Supplemental deed of guarantee for increase in
overall limit 3.
Limit Linking Letter 4.
Supplemental agreement of loan for increase in
overall limit 5.
Supplemental agreement of hypothecation of goods
and assets for increase in the overall
limit 6.
Letter regarding the grant of individual limits
within the overall limit 7.
Board Resolution |
|
Date of instrument Creating the charge |
06.01.2010 |
|
Amount secured by the charge |
Rs.259.100 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Cash credit - At 0.25% above SBAR. Presently 12.00% p.a. at monthly
rests. Term Loan V - At 0.25% above SBAR. Presently 12.00% p.a. at monthly
rests. (Other terms and conditions
remain same) Terms of Repayment Cash credit - repayable on demand Term Loan V - Repayable in 16 equal quarterly installments of Rs.0.625
million each starting from the quarter ending June '2010 and ending on the
quarter ending march '2014. Other term loans will be repaid as per existing arrangement. Margin Cash Credit - Raw Material - 25% Finished Goods - 25% Book Debts - 25% (cover
period 60 days) Term Loan V - 37% Bank Guarantee- 15% (Other terms and conditions
remain same) Extent and Operation of the charge ] ·
Hypothecation of company's stocks of raw
materials, S-I-PS, finished goods, book debts and other current assets of the
company present and future. ·
EQM of land and building as per sanction letter. ·
Charge on the plant and machinery of the company. ·
Pledge of STDRS Others (In Millions) Cash Credit- Rs.143.300 WCDL- Rs.10.000 Demand Loan- Rs.30.000 TL-1- Rs.17.000 TL-2- Rs.10.000 TL-3- Rs.21.300 TL-4- Rs.10.000
(LC CAPEX – 6.800) TL-5- Rs.10.000 B.G Rs.7.500 ------------------------------------------------------ Total- Rs.259.100 |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
·
Hypothecation of company's stocks of raw
materials, sips, finished goods, book debts and other current assets of the
company present and future. ·
Eqm of land and building on the properties
belongs to S.N Sahoo situated at Mouza - Rangidaspur, Plot No - 80,81,82,58,
corresponding Khata No -
137/7,80,137/8,137/6 , total area AC 2.04. ·
Eqm of land and building on the properties
belongs to Suchitra Sahoo situated at Mouza - Tarol, Plot No - 2268,2271/2496,
corresponding Khata No - 620/207,620/207, Total Area AC 0.47.6 ·
Eqm of land and building on the properties
belongs to Surendra Nath Sahoo situated at Mouza - Tarol, Plot No - 111,
Khata No - 30, area AC 0.08. ·
Eqm of factory land and building belongs to the
company situated at Mouza - Tarol, Plot No - 2340/2471,2470,2271/2496,
corresponding Khata No -
554,493/15,620/206, Total Area AC 1.006. ·
Charge on the plant and machinery of the company. ·
Pledge of STDRS ·
Eqm of l and b on the properties belongs to the
company situated at Mouza - Rangidaspur, Plot No -
59,61,73/427,73,74,75,77,78, Khata No -
137/9,137/3,137/13,137/14,122,75,137/11,137/10, area AC 3.52. ·
First charge over equipment /machinery/godown
purchased/ to be accquired out of bank finance. |
|
Particulars of the present modification |
Total limit enhanched to Rs.259.100 millions |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicle
WEB DETAILS
PROFILE
Subject
is one of
At
Subject their commitment is to excellence. The evolving needs of their
customers drives them continuously to improve their processes and systems. They
are commited to apply the state of art technology and process to enhance productivity
that ensure quality at a competitive price. They pedge themselves towards
providing quality and safe products processed in clean and hygienic
environments. Their dedicated and experienced quality team work 24X7 to ensure
the quality and nutrient aspect of their products. Over a period of 22 years
subject is growing from strength to strength and hence laid the foundation to a
revolution in the food processing sector which in turn will lead to increased
productivity and quality. They use highly advanced technology and machineries
in their plants so that they can maintain the natural content of the food. At
subject they also ensure that their products hygienically packed with the use
of an automated packing system in place.
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.55.42 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.