MIRA
INFORM REPORT
|
Report Date : |
07.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPECTRUM DYES AND CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
207, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
06.09.1989 |
|
|
|
|
Com. Reg. No.: |
04-176088 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 122.780 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24110MH1989PTC176088 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
SRTS00486D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCS3979A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Disperse Dyes |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2429008 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Yogesh R Gupta |
|
Designation : |
Director |
|
Contact No. : |
91-9824102590 |
|
Date : |
06.06.2012 |
LOCATIONS
|
Registered Office : |
207, |
|
Mobile No.: |
91-9824102590 (Mr. Yogesh Gupta) |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Block No. 484, 502 and 503k, |
|
Tel. No.: |
91-2622-264259 |
|
Fax No.: |
91-2622-264615 |
|
Area : |
50000 sq. mts. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
B/503, |
|
Tel. No.: |
91-261-2895410 |
|
Fax No.: |
91-261-2895407 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Hardat Singh Tarar |
|
Designation : |
Director |
|
Address : |
B-502-03, N.H. No. 8, Palsana, Surat-394315, |
|
Date of Birth/Age : |
13.03.1959 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
23.08.2002 |
|
Name : |
Mr. Mahendra Kumar Chawdhary |
|
Designation : |
Director |
|
Address : |
6/B, Rudrraj Apartment, Athwalines, Surat-395007, |
|
Date of Birth/Age : |
09.06.1958 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
01.04.2004 |
Other Directorship:
|
|
Name : |
Mr. Yogesh R Gupta |
|
Designation : |
Director |
|
Address : |
602, Solitare Apartment, brijwasi Complex, Parle Point, Surat –
395007, Gujarat, India |
|
Date of Birth/Age : |
10.03.1969 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
25.06.1991 |
Other Directorship:
|
|
Name : |
Mr. Anveep V Bansal |
|
Designation : |
Director |
|
Address : |
701, Solitare Apartment, brijwasi Complex, Parle Point, Surat –
395007, Gujarat, India |
|
Date of Birth/Age : |
12.05.1972 |
|
Qualification : |
Chemical Engineer |
|
Date of Appointment : |
06.08.1998 |
Other Directorship:
|
|
Name : |
Mr. Pramodkumar Chaudhary |
|
Designation : |
Director |
|
Address : |
7-B, Rudraraj Apt., Opp. Arihant Complex, Athwalines, Surat – 395007,
Gujarat, India |
|
Date of Birth/Age : |
06.10.1963 |
|
Date of Appointment : |
19.11.2010 |
Other Directorship:
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Sr. No. |
Name of the Shareholder |
As on 30.09.2011 |
|
|
|
|
No. of Shares |
% |
|
1 |
Chaudhary Akshat (Minor) |
1,785 |
1.45 |
|
2 |
Chaudhary Gyanesh |
500 |
0.41 |
|
3 |
Chaudhary Mahendra Kumar |
2 |
0.00 |
|
4 |
Chaudhary Manisha |
3,000 |
2.44 |
|
5 |
Chaudhary Nilam |
1,288 |
1.05 |
|
6 |
Chaudhary Meenakshi |
900 |
0.73 |
|
7 |
Chaudhary Paresh |
1,500 |
1.22 |
|
8 |
Chaudhary Pramod Kumar |
20 |
0.02 |
|
9 |
Chaudhary Swaraj Vikram (Minor) |
400 |
0.33 |
|
10 |
Chaudhary Urmila |
2,847 |
2.32 |
|
11 |
Chaudhary Vasudha |
1,200 |
0.98 |
|
12 |
Chaudhary Vedant ( Minor) |
-- |
-- |
|
13 |
Chaudhary Vidhushree |
-- |
-- |
|
12 |
H. K. Chaudhary and Sons (HUF) |
360 |
0.29 |
|
13 |
Mahendra Kumar Chaudhary and Sons
(HUF) |
930 |
0.76 |
|
14 |
P. K. Chaudhary and Sons (HUF) |
250 |
0.20 |
|
Sub-Total |
14,982 |
12.20 |
|
|
15 |
Bansal Avneep |
1 |
-- |
|
16 |
Gupta Devika |
1 |
-- |
|
17 |
Gupta Premlata |
1 |
-- |
|
18 |
Gupta Yogesh |
1 |
-- |
|
19 |
Tarar Hardutt Singh |
1 |
-- |
|
20 |
Ramavtar Gupta and Sons - HUF |
1 |
-- |
|
Sub-Total |
6 |
0.00 |
|
|
21 |
Abhishek Capital Services Private
Limited |
759 |
0.62 |
|
22 |
Abhishek Share and Securities
Private Limited |
1,900 |
1.55 |
|
23 |
Abhishek Stock Broking Services
Private Limited |
3,604 |
2.94 |
|
24 |
Adinath Distributors Private
Limited |
6,434 |
5.24 |
|
25 |
Amol Fab Trade Private Limited |
8,466 |
6.90 |
|
26 |
Fast-N-Perfect Tracon Private
Limited |
2,400 |
1.95 |
|
27 |
Geonet Trading Co. Private Limited |
6,200 |
5.05 |
|
28 |
Ideal Trade Links Private Limited |
300 |
0.24 |
|
29 |
Pratibha Fabrics Limited |
7,175 |
5.84 |
|
30 |
Mangal Fibre and Allies Industries
Limited. |
400 |
0.33 |
|
31 |
Pioneer Syntex Private Limited |
2,760 |
2.25 |
|
32 |
Newtree Mercantile Co. Private
Limited |
3,700 |
3.01 |
|
33 |
Pratibha Overseas Private Limited |
3,250 |
2.65 |
|
34 |
Rich Point Financial Services
Private Limited. |
2,200 |
1.79 |
|
35 |
Vestal Merchants Private Limited |
4,722 |
3.85 |
|
36 |
Vikram Capital Management Limited |
2,900 |
2.36 |
|
37 |
Vikram Polyester Private Limited |
200 |
0.16 |
|
38 |
Vayudoot Commercial Private
Limited |
50,422 |
41.07 |
|
Grand Total |
122,780 |
100.00 |
|
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
87.80 |
|
Directors
or relatives of directors |
|
12.20 |
|
Total |
|
100.00 |
List of Allottees as on 30.03.2012
|
Names of Allottees |
|
No. of Shares |
|
|
|
|
|
Vayudoot Commercial Private Limited, Kolkata |
|
3243 |
|
Vijaylakshmi Commercial Private Limited,
Kolkata |
|
9162 |
|
|
|
|
|
Total |
|
12405 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Disperse Dyes |
GENERAL INFORMATION
|
Bankers : |
·
Bank of ·
State Bank of ·
Industrial Development Bank of |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pradeep Singhi and Associates Chartered Accountant |
|
Address : |
A-501, President Plaza, RTO Cicle, Ring Road, Nanapura, Surat-395001,
Gujarat, India |
|
Tel. No.: |
91-261-2474714/ 2474954 |
|
|
|
|
Associates : |
·
Narmada Thermal Power Limited ·
Ideal Tradelinks Private Limited ·
Gujarat Polyfilms Private Limited ·
Vikram Knittex Private Limited ·
Vikram Polyesters Private Limited ·
Gujarat Embroideries Limited ·
Pro On Line Marketing Private Limited ·
Kottex Industries Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,50,000 |
Equity Shares |
Rs.1000/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,22,780 |
Equity Shares |
Rs.1000/- each |
Rs. 122.780
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 |
122.780 |
117.500 |
117.500 |
|
|
2] Share Application Money |
0.000 |
0.900 |
0.000 |
|
|
3] Reserves & Surplus |
484.472 |
405.162 |
345.293 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
607.252 |
523.562 |
462.793 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
961.859 |
839.207 |
753.836 |
|
|
2] Unsecured Loans |
7.871 |
10.343 |
11.925 |
|
|
TOTAL BORROWING |
969.730 |
849.550 |
765.761 |
|
|
DEFERRED TAX LIABILITIES |
54.930 |
49.855 |
41.374 |
|
|
|
|
|
|
|
|
TOTAL |
1631.912 |
1422.967 |
1269.928 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
635.379 |
659.047 |
624.141 |
|
|
Capital work-in-progress |
63.037 |
6.539 |
21.424 |
|
|
|
|
|
|
|
|
INVESTMENT |
59.099 |
51.098 |
27.133 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
506.813
|
402.316
|
305.745
|
|
|
Sundry Debtors |
544.178
|
441.378
|
400.168
|
|
|
Cash & Bank Balances |
59.558
|
10.456
|
42.204
|
|
|
Other Current Assets |
4.147
|
4.039
|
0.000
|
|
|
Loans & Advances |
134.201
|
116.259
|
99.254
|
|
Total
Current Assets |
1248.897
|
974.448
|
847.371
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
285.349
|
217.838
|
219.290 |
|
|
Other Current Liabilities |
39.684
|
13.293
|
9.486
|
|
|
Provisions |
50.201
|
37.244
|
21.645
|
|
Total
Current Liabilities |
375.234
|
268.375
|
250.421
|
|
|
Net Current Assets |
873.663
|
706.073
|
596.950
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.734 |
0.210 |
0.280 |
|
|
|
|
|
|
|
|
TOTAL |
1631.912 |
1422.967 |
1269.928 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1857.823 |
1562.535 |
|
|
|
Other Income |
|
1.502 |
1.022 |
|
|
|
TOTAL (A) |
2322.695 |
1859.325 |
1563.557 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
1211.615 |
1000.267 |
|
|
|
Manufacturing Expenses |
2230.998 |
247.690 |
180.903 |
|
|
|
Excise Duty |
|
144.518 |
162.861 |
|
|
|
Sales and Administrative Expenditures |
|
129.459 |
108.434 |
|
|
|
Increase/(Decrease) in Finished Goods |
|
(111.159) |
(29.762) |
|
|
|
TOTAL (B) |
2230.998 |
1622.123 |
1422.703 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
237.202 |
140.854 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
92.566 |
58.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
144.636 |
82.284 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
62.156 |
39.046 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
91.697 |
82.480 |
43.238 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.867 |
22.611 |
20.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
60.830 |
59.869 |
22.403 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
114.619 |
92.216 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
174.488 |
114.619 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
38.682 |
18.677 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
467.971 |
441.722 |
|
|
|
Components and Spare Parts |
NA |
1.446 |
0.287 |
|
|
|
Capital Goods |
NA |
5.616 |
12.957 |
|
|
TOTAL IMPORTS |
NA |
475.033 |
454.966 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
517.13 |
509.52 |
231.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.61
|
3.22
|
1.43
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.94
|
4.44
|
2.77
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.86
|
5.05
|
2.94
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.16
|
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.21
|
2.14
|
2.20
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.32
|
3.63
|
3.38
|
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 |
Yes |
|
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 |
Yes |
|
10)
Designation of contact person |
Yes |
|
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
|
Sundry Creditors
Details
|
Particulars |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
31.03.2009 (Rs.
In Millions) |
|
Sundry Creditors |
|
|
|
|
For Goods & Expenses |
285.349 |
215.326 |
206.675 |
|
For Capital Goods |
|
2.512 |
12.615 |
Note: The Registered Office
of the company has been shifted from 109, Sanjay Building No.6, Mital Estate,
Andheri (East), Mumbai – 400059, Maharashtra, India to Present address w.e.f.
01.02.2010
Bankers Charges
Report as per Registry
|
This form is for |
Modification of charge
|
|
Charge
identification number of the modified |
10127824 |
|
Corporate
identity number of the company |
U24110MH1989PTC176088 |
|
Name of the
company |
SPECTRAM DYES AND
CHEMICALS PVT LTD |
|
Address of the registered
office or of the principal place of
business in |
207, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum
relating to Deposit of Title Deeds for creation of further charge for overall
credit limit where the initial charge is created by way of mortgage by
Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
04.03.2011 |
|
Amount secured by
the charge |
Rs.1130.400
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan - 4.25%
above base rate, present effective rate 11.85% p.a. with monthly rests, to be
reset annually. Terms of
Repayment Existing Term
Loan - As per existing terms and conditions, New Term Loan - 48 Monthly
Installments. First 17 Installments of Rs.2.000 Millions each. Next 12
Installments of Rs.2.500 Millions each. Next 12 Installments of Rs.3.000
Millions each. Next 6 Installments of Rs.4.000 Millions each. Last
Installments of Rs.6.000 Millions. Margin TL - 30.11% Extent and
Operation of the charge (1) All those piece and parcel of immovable property
situated in the Dist. Surat, Tal. Palsana, Vill. Palsana bearing Block
No.502, R.S.No.466 Totally adm.6540 Sq. Mtrs. (2) All those piece and parcel of immovable
property bearing Block No.503, R.S.No.474 Totally adm.12011 Sq. Mtrs.
situated in the Dist. Surat, Tal. Palsana, Vill. Palsana (3) All those piece and parcel of N.A. Imm.
Prop. being land situated in Block No.484, situated at Vill Palsana, Surat
R.S.No.467 adm.10504 Sq. Mtrs. Others The charge
operates for due repayment by the company to SBI and BOB of the o/s balance in individual limits
within the overall limit of Rs.113.04 Millions together with interest, additional interest
etc. Credit facilities SBI-on 1st Charge basis TL-I-Rs.68.300 Millions ,
TL-II Rs.5.300 Millions , TL-III Rs.224.200 Millions , TL Fresh-Rs.130.000
Millions , Credit exposure limit-forward contract-Rs.2.600 Millions Total (SBI)-Rs.430.400 Millions , BOB-on
2nd charge basis CC-Rs.690.000 Millions
+ Inland/Frn BG-Rs.10.000 Millions
Total (BOB) Rs.700.000 Millions
aggr. Rs.1130.400 Millions. |
|
Short particulars
of the property charged |
(1) All those piece and parcel of immovable
property situated in the Dist. Surat, Tal. Palsana, Vill. Palsana bearing
Block No.502, R.S.No.466 Totally adm.6540 Sq. Mtrs. (2) (2) All those piece and parcel of
immovable property bearing Block No.503, R.S.No.474 Totally adm.12011 Sq.
Mtrs. situated in the Dist. Surat, Tal. Palsana, Vill. Palsana (3) All those piece and parcel of N.A. Imm.
Prop. being land situated in Block No.484, situated at Vill Palsana bearing
R.S.No.467 of Vill Palsana, Tal. Palsana, Sub Dist. Plsana, Dist. Surat
toally (4) adm.10504 Sq.Mtrs. (5) All that piece and parcel of the Industrial NA land of Block
No.504 situated at Palsana bearing R S No.471/1 Block No.504 of Vill:
Palsana, Tal: Pasana, Dist: Surat totally adm 16886 Sq. Mtrs |
|
Particulars of
the present modification |
By this execution
the charge extended to cover revised credit facility from Rs.913.500
Millions to Rs.1130.400 Millions Credit facilities SBI-on 1st Charge basis
TL-I-Rs.68.300 Millions , TL-II Rs.5.300 Millions , TL-III Rs.224.200
Millions , TL Fresh-Rs.13.00 Millions , Credit exposure limit-forward
contract-Rs.2.600 Millions Total
(SBI)-Rs.430.400 Millions , BOB-on 2nd charge basis CC-Rs.690.000
Millions + Inland/Frn BG-Rs.10.000
Millions Total (BOB) Rs.700.000
Millions aggr. Rs.1130.400 Millions. |
|
Corporate identity number of the company |
U24110MH1989PTC176088 |
|
Name of the company |
SPECTRAM DYES AND CHEMICALS PVT LTD |
|
Address of the registered office or of the
principal place of business in |
207, |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of charge holder |
State Bank of Email -
pramodkumar1@sbi.co.in |
|
Nature of instrument creating charge |
Agreement of Hypothecation of Goods,
Movable Plant & Machineries and Assets |
|
Date of instrument Creating the charge |
04.04.2012 |
|
Amount secured by the charge |
Rs. 430.400 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest New Term Loan - 4.25% above Base Rate p a
on monthly rest, to be reset annually Terms of Repayment Old T L - as per earlier sanction, New
Term Loan -Rs.130.000 millions in 48 monthly installments First 17
installments of Rs.2.000 millions each, next 12 installments of Rs.2.500
millions each, next 12 installments of Rs.3.000 millions each, next 6
installments of Rs.4.000 millions each, last installment of Rs.6.000 millions Margin as per terms of sanction Extent and Operation of the charge Second Charge on Current Assets such as
Stock of Raw materials, Stocks in Process, Finished Goods, Stores, Book Debts
etc. of the Company, more particularly described in the schedule to the
Agreement of Hypothecation of Goods, Movable Plant & Machineries and
Assets. First charge with Bank of Baroda for securing working capital
facilities sanctioned by Bank of Baroda Others Credit facilities - TL - I (O/s) - Rs.68.300 millions + TL - II (O/s) - Rs.5.300 millions + TL - III (O/s) - Rs.224.200 millions + TL - New Rs.130.000
millions + C E limit for forward contract Rs.2.600 millions aggregating to
Rs.430.400 millions |
|
Short particulars of the property charged |
2nd charge (First charge for Bank of
Baroda for securing the Working Capital Facilities sanctioned by Bank of
Baroda to the Borrower aggregating to Rs.790.000 Millions)over the whole of
the Current Assets of the Borrower namely, Stocks of Raw
Materials, Stocks in Process, Semi Finished and Finished Goods, Stores and
Spares not relating to Plant and Machinery (consumable Stores and Spares)
Bills Receivable and Book Debts and all other
movables, both present and future whether now lying loose or in cases or
which are now lying or stored in or about or shall hereinafter from time to
time during the continuance of the security of these
presents be brought into or upon or be stored or be in or about of the
Borrower's factories & other premises or whether else the same may be or
be held by any party to the order or disposition of the
Borrower or in the course of transit or on high seas or on order or delivery,
however and wheresoever in the possession of the Borrower and either by way
of substitution or addition. |
FIXED ASSETS:
·
Land
·
Flat
·
·
Furniture and Fixture
·
Office Equipments
·
Vehicles
·
Motor Car
·
Plant and Machinery
·
Computer
·
Know how
·
Laboratory Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.49 |
|
|
1 |
Rs.85.57 |
|
Euro |
1 |
Rs.69.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NLM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.