MIRA
INFORM REPORT
|
Report Date : |
23.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDO SCHOTTLE AUTO PARTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 387/389, Village Urawade, Taluka Mulshi, District Pune – 412108, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.04.1985 |
|
|
|
|
Com. Reg. No.: |
11-35877 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.142.767 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MH1985PTC035877 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Engine Valve Collets, Rocker Arm Screws, Turbo Charge
Components and Assemblies. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3520000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track. Trade relations are reported
to be fair. Business is active. General financial position is good. Trade
relations are reported as fair. Business is active. Payments are reported to
be correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Sameer |
|
Designation : |
Account Manager |
|
Contact No.: |
91-20-229222005 |
LOCATIONS
|
Registered Office/ Factory : |
Gat No. 378/387/389, Village Urawade, Taluka Mulshi, District Pune – 412108, Maharashtra, India |
|
Tel. No.: |
91-20-22922005/22922161/2922636/32540055/22923964/5/32540050/51/52 |
|
Fax No.: |
91-20-24104109/22929280/2922636/32540051/22923800/32540051/66740519 |
|
E-Mail : |
esgado@indoschottle.com vypathak@indoschottle.com pabhide@indoschottle.com |
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Domestic Plant: Gat No. 10731/6, Perangut, Village Urawade, Tal. Mulshi, Pune –
412108, Maharashtra, India |
|
Tel. No.: |
91-20-32540068/55 |
|
Fax No.: |
91-20-22933800 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Sez Plant: Plot No. 7 and 8, Quest Special Economic Zone, Hattargai and Belgaum –
560001, Karnataka, India |
|
|
|
|
Factory 4 : |
Belgaum Plant: Plot No. 84/C, S. No. 536, K.I.A.D.B Industrial Area Honga, |
|
Tel. No.: |
91-831-2414458 |
|
Fax No.: |
91-831-2414458 |
|
|
|
|
Correspondence Office : |
Office Club, 3rd Floor, Swaroop Complex, |
DIRECTORS
AS ON 05.07.2011
|
Name : |
|
|
Designation : |
Chairman and Managing Director |
|
Address : |
Plot No. 816,
Lane No. 8, Sind Housing, Aundha, Pune - 411007, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1944 |
|
Qualification : |
B.Com Diploma in International Trade |
|
Experience : |
41 Years |
|
Date of Appointment : |
09.04.1985 |
|
DIN No.: |
00755575 |
|
|
|
|
Name : |
|
|
Designation : |
Executive
Director |
|
Address : |
105/A, Mukta Apts., S. R. Rege Marg, Erandawane, Pune - 411004, Maharashtra, India |
|
Date of Birth/Age : |
08.08.1968 |
|
Qualification : |
B S Mechanical, M
S Mechanical |
|
Experience : |
16 Years |
|
Date of Appointment : |
09.08.2002 |
|
DIN No.: |
01413986 |
|
|
|
|
Name : |
|
|
Designation : |
Director |
|
Address : |
MVI, Motorenteile, GMBH, Allenstresse, 70, 71679, Asperg |
|
Date of Birth/Age : |
13.12.1940 |
|
Date of Appointment : |
31.12.1986 |
|
DIN No.: |
02799830 |
|
|
|
|
Name : |
|
|
Designation : |
Director |
|
Address : |
221, A, Amit,
Kalaninagar, Pune - 411 006, |
|
Date of Birth/Age : |
18.04.1951 |
|
Date of Appointment : |
09.09.2002 |
|
DIN No.: |
00089496 |
|
|
|
|
Name : |
|
|
Designation : |
Director |
|
Address : |
12, Kostaka
House, 31 Patil Road, Bandra, Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
16.01.1945 |
|
Date of Appointment : |
13.12.1990 |
|
DIN No.: |
00166189 |
|
|
|
|
Name : |
|
|
Designation : |
Director |
|
Address : |
Bahar 25,
Vishwamitra Colony, Gulmohor Path, Off |
|
Date of Birth/Age : |
11.02.1947 |
|
Date of Appointment : |
29.04.2004 |
|
DIN No.: |
00637061 |
|
|
|
|
Name : |
Mr. Ajay Charuchandra
Kirtane |
|
Designation : |
Director |
|
Address : |
Plot No.364, Lane No.17, Mahatma Co-operative Housing
Society, Kothrud, Pune-411030, |
|
Date of Birth/Age : |
11.07.1967 |
|
Date of Appointment : |
27.06.2009 |
|
DIN No.: |
02711040 |
|
|
|
|
Name : |
Mr. Pradeep
Chandrakant Bandivadekar |
|
Designation : |
Nominee Director |
|
Address : |
7, Shakuntal, Sahitya Sahavas,, M. G. Kalelkar Road, Bandra (East), Mumbai, 400051, Maharashtra, India |
|
Date of Birth/Age : |
06.02.1961 |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
00059330 |
|
|
|
|
Name : |
Ms. Kirtikumar
Rameshchandra Patel |
|
Designation : |
Additional
Director |
|
Address : |
7, Vriindavan, Tagore
Road, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1951 |
|
Date of Appointment : |
27.08.2010 |
|
DIN No.: |
02926816 |
KEY EXECUTIVES
|
Name : |
Mr. Sameer |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.07.2011
|
Names of Shareholders (Equity Shareholder) |
|
No. of Shares |
|
|
|
|
|
Vijay Balkrishna Pusalkar |
|
2624150 |
|
rohan Vijay Pusalkar |
|
246800 |
|
Marzban Bharucha |
|
5000 |
|
Gautam Achyut Kulkarni |
|
1000 |
|
Alvaro Dacosta |
|
12500 |
|
Thresia K. Jose |
|
2000 |
|
Ajit Vasant Kher |
|
107500 |
|
Savita Shishir Shirgaonkar |
|
5000 |
|
Prakash ramchandra Gogate
|
|
5000 |
|
Babusaheb Nilkanth Kalyani |
|
120000 |
|
Ishwar Siddhanwar |
|
20000 |
|
Wolfgang Schottle |
|
599750 |
|
Nalini Keshav Khasnis |
|
1000 |
|
Raval Kumar |
|
1000 |
|
Tata Capital Limited, |
|
446324 |
|
Samardeep Subandh |
|
6700 |
|
Sanjay Vaidya |
|
2000 |
|
Rajendra Shah |
|
3000 |
|
Ajay Kirtane |
|
4000 |
|
V. Ramchandra |
|
1000 |
|
Dilip Agarwal |
|
1000 |
|
Mackie Palamkote |
|
1000 |
|
Shirish Erande |
|
2000 |
|
Madhav Soman |
|
4000 |
|
Shishir Shirgaokar |
|
6000 |
|
Ashok Beharay |
|
2000 |
|
Dilip Dandekar |
|
2000 |
|
B.S. Patil |
|
2000 |
|
Shrikrishna Inamdar |
|
1000 |
|
Usha Kher |
|
4000 |
|
Uma Lele |
|
1000 |
|
Shobha Siddanvar |
|
2000 |
|
Sunita Kalyani |
|
4000 |
|
Vandana Rahane |
|
1000 |
|
Shilpa Kher |
|
20000 |
|
Shantanu Pusallkar |
|
4000 |
|
Raghunathan Deshpande |
|
6000 |
|
|
|
|
|
Total |
|
4276724 |
|
Names of Shareholders (Preference Shareholder) |
|
No. of Shares |
|
|
|
|
|
Tata Capital Limited, |
|
10000000 |
|
|
|
|
|
Total |
|
10000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 05.07.2011
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
10.44 |
|
Directors or relatives of Directors |
87.94 |
|
Other top fifty shareholders |
1.62 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Engine Valve Collets, Rocker Arm Screws, Turbo Charge
Components and Assemblies. |
|
|
|
|
Products : |
·
Engine
Valve Collets ·
Turbocharger
Parts ·
Fuel
System Parts ·
Cold
Forging ·
Rocker
Arm Screw ·
Fluid
Power Assemblies |
GENERAL INFORMATION
|
Customers : |
·
Agro Match ·
Ashok Leyland ·
Atul ·
Avtec ·
Bajaj ·
Beml ·
Bosch ·
Elgi ·
Escorts ·
FIAT ·
Force ·
Hero Honda ·
HMT ·
Greaves |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
The Thane Janata Sahakari Bank Limited, C-2, Kohinoor Estate, Co-operative Housing Society, Plot No. 12, Mula Road, Sangamwadi, Pune – 411003, Maharashtra, India ·
Standard
Chartered Bank 90, M. G. Road,
Fort, Mumbai – 400001, Maharashtra, India ·
Citi
Bank, Citi Business,
Citi Bank Centre, 2nd Floor, Bandra Kurla Complex, Bandra (East), Mumbai
– 400051, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. P G Bhagwath and Company Chartered Accountants |
|
Address : |
Suit No. 10-102, Orchard Dr. Pai Marg, Baner, Pune – 411045, |
|
PAN.: |
AAAFB0762E |
|
|
|
|
Subsidiaries : |
Belgaum Motor Parts Private Limited Cin No.: U34300KA2002PTC030924 Pusalkar Fluid Power Private Limited Cin No.:U27106PN2003PTC018693 Pusalkar Schottle Exports Private Limited Cin No.:U51909MH1995PTC085815 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 millions |
|
10000000 |
32% Optionally Convertible Cumulative Redeemable Preference Shares |
Rs. 10/- each |
Rs.100.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.175.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4276724 |
Equity Shares |
Rs.10/- each |
Rs.42.767 millions |
|
10000000 |
Preference Shares |
Rs.10/- each |
Rs.100.000 millions |
|
|
Total |
|
Rs.142.767 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 |
142.767 |
142.767 |
120.760 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
736.711 |
807.122 |
748.819 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
879.478 |
949.889 |
869.579 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
557.868 |
424.472 |
646.624 |
|
|
2] Unsecured Loans |
8.085 |
8.398 |
8.707 |
|
|
TOTAL BORROWING |
565.953 |
432.870 |
655.331 |
|
|
DEFERRED TAX LIABILITIES |
71.695 |
78.122 |
51.640 |
|
|
|
|
|
|
|
|
TOTAL |
1517.126 |
1460.881 |
1576.550 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1045.290 |
1061.321 |
839.049 |
|
|
Capital work-in-progress |
142.818 |
11.180 |
296.121 |
|
|
|
|
|
|
|
|
INVESTMENT |
16.990 |
17.240 |
17.240 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
308.503
|
239.886
|
309.932 |
|
|
Sundry Debtors |
286.832
|
232.637
|
158.420 |
|
|
Cash & Bank Balances |
61.770
|
32.133
|
44.857 |
|
|
Other Current Assets |
10.699
|
11.145
|
6.742 |
|
|
Loans & Advances |
22.313
|
31.502
|
20.600 |
|
Total
Current Assets |
690.117
|
547.303 |
540.551 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
82.507
|
90.882 |
36.678 |
|
|
Other Current Liabilities |
241.933
|
33.290
|
41.437 |
|
|
Provisions |
53.649
|
51.991
|
38.296 |
|
Total
Current Liabilities |
378.089
|
176.163 |
116.411 |
|
|
Net Current Assets |
312.028
|
371.140
|
424.140 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1517.126 |
1460.881 |
1576.550 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Income |
1338.535 |
1004.930 |
941.736 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1338.535 |
1004.930 |
941.736 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
998.565 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
998.565 |
724.334 |
756.025 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
339.970 |
280.596 |
185.711 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
126.952 |
103.932 |
93.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
213.018 |
176.664 |
91.806 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
56.116 |
50.402 |
21.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
156.902 |
126.262 |
70.791 |
|
|
|
|
|
|
|
|
|
|
Prior Period
Items |
3.635 |
(4.154) |
0.647 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
261.467 |
195.235 |
162.552 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on equity shares |
21.384 |
5.322 |
5.190 |
|
|
|
Dividend on preference shares |
16.000 |
32.000 |
21.831 |
|
|
|
Transfer to General Reserve |
16.054 |
12.211 |
7.144 |
|
|
|
Tax on Dividend |
6.064 |
6.343 |
4.592 |
|
|
BALANCE CARRIED
TO THE B/S |
362.502 |
261.467 |
195.235 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
33.19 |
19.92 |
20.95 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.72
|
12.56
|
7.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.27
|
10.98
|
6.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.18
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.07
|
0.64
|
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83
|
3.11
|
4.64 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
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 |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
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 in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
Yes |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
PERFORMANCE AND
FUTURE OUTLOOK
EOU: The Company, being the preferred supplier to several multinational companies, has fared well during the year. Demand for current products and assemblies increased and some new products were added during this year. They have received new RFQs (Request for Quotation) from their existing customers and some new multinational companies. Value wise these are large enquiries and can give us substantial growth possibilities for many years to come. The company hopes to conclude these agreements in the near future.
Domestic: The growth story with the Domestic customers continues and business for the forging area is improving month after month. The company plans to have a top line of INR 2000.000 millions by the year 2012-13. The company has concluded a wage agreement for 3.5 years starting from 1st August, 2010.
EXPANSION OF THE
ACTIVITIES (SEZ & DOMESTIC)
The is expanding its activities through a SEZ and a Domestic
Plant in the city of
The construction at the SEZ will also commence shortly and hopefully production will start by the next fiscal. Products to be manufactured have been identified and planning is completed.
ASSOCIATE AND
SUBSIDIARY COMPANY
The investment in their associate company Belgaum Motor Parts Private Limited came to an end by our complete divestment in the month of December, 2010.
The subsidiary company Pusalkar Fluid Power Private Limited has done substantially better in the year 2010-2011 and has wiped off all its losses and generated a surplus. Their current year is also expected to be very good.
Contingent
Liabilities have not been provided for in respect of
a) Bills discounted with Banks amounting to Rs. NIL (Previous year Rs.48.421 millions)
b) The Company has imported certain machinery under Export Promotion Capital Goods (EPCG) Scheme and accordingly, has an export obligation of Rs.85.174 millions (previous year Rs.85.174 millions) against which the company has met the export obligation of Rs.85.174 millions (previous year Rs.71.862 millions). The customs duty under the EPCG Scheme in respect of the unexpired export obligation is Rs. NIL (Previous year Rs.1.664 millions).
c) Corporate Guarantee given by the company to the bankers of Pusalkar Fluid Power Private Limited Rs.48.050 millions (Previous Year Rs.48.050 millions) for availment of term loan and packing credit facilities.
FORM 8
|
Corporate
identity number of the company |
U34300MH1985PTC035877 |
|
Name of the
company |
INDO SCHOTTLE
AUTO PARTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No. 378/387/389, Village Urawade, Taluka Mulshi,
District Pune – 412 108, Email: orsoman@indoschottle.com |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10086674 |
|
Type of charge |
·
Book
Debts ·
Movable
Property ·
Floating
Charge |
|
Particular of
charge holder |
Standard
Chartered bank – 90, E-Mail: Nilesh.Babar@sc.com |
|
Nature of
instrument creating charge |
Supplemental to
Memorandum of Hypothecation |
|
Date of
instrument Creating the charge |
30.01.2012 |
|
Amount secured by
the charge |
Rs.150.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed by and
with Bank from time to time. Terms of
Repayment As agreed by and
with Bank from time to time. Margin As applicable, if
any. Extent and
Operation of the charge The bank will have
the first pari passu charge on the Current Assets of the company more
particularly described in the schedule of the said Hypothecation Agreement. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of first pari passu charge on entire Current assets viz. a) all present
and future book debts, outstanding moneys receivables, claims and bills b) All present
and future stock in trade consisting of raw materials, finished goods, goods
in process of manufacturing and other merchandise. |
|
Particulars of
the present modification |
As per clause 3
of the modified agreement, the security shall be- For the consideration
aforesaid and as continuing security for the purpose of secured obligations,
the Borrower as legal and beneficial owner of the assets set out in the
schedule to this Memorandum (Secured Assets) hypothecate the secured assets
i.e Current Assets ( both present and future) by way of first pari passu
charge in the favour of the Bank |
Fixed Assets
·
Software
·
Freehold land
·
Buildings – leasehold
·
Plant and machinery
·
Office equipment
·
Furniture and fixtures
·
Vehicles
·
Computers
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.55.38 |
|
|
1 |
Rs.86.75 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
57 |
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.