|
Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHADRESH TRADING CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
205, Majestic Shopping Centre, 144, J.S.S. Road, Near Opera House, Girgaum,
Mumbai – 400 004, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.05.2008 |
|
|
|
|
Com. Reg. No.: |
11-182506 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 105.846 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2008PLC182506 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB18530B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter and Importer of Cotton and Cotton Ginners |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
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 5300000 |
|
|
|
|
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.
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/ Head
Office : |
205, Majestic Shopping Centre, 144, J.S.S. Road, Near Opera House, Girgaum,
Mumbai – 400 004, Maharashtra, India |
|
Tel. No.: |
91-22-23800007/
23802004/ 5/
67200021/ 61505001/ 23800008 |
|
Fax No.: |
91-22-23896467/
23800047/ 23640451 |
|
E-Mail : |
anup3339@gmail.com bhadresh@bom2.net.in |
|
Website : |
www.bhadresh.com
|
|
Area
: |
1400 sq. ft. |
|
Location
: |
Owned |
|
|
|
|
Export Office : |
325/ 326, 3rd Floor, A to Z
Industrial Premises, Next to Peninsula Tower, Lower Parel (West), Mumbai – 400
013, Maharashtra, India |
|
Tel. No.: |
91-22-61505001/ 24948406/ 24948410 |
|
Fax No.: |
91-22-24948405 |
|
|
|
|
Cotton Green Office/ Branch Office 1 : |
S-75 and 76, East India
Cotton Association, |
|
Tel. No.: |
91-22-32469623 |
|
Fax No.: |
91-22-23750308 |
|
|
|
|
Branch Office 2 : |
|
|
Tel. No.: |
91-281-2443561/ 9650 |
|
Fax No.: |
91-281-2459704 |
|
|
|
|
Overseas Office : |
Rm.2012, Building A, No.1088, |
|
Tel. No.: |
+86-21-6109 9690/ 6109 9610 |
|
Fax No.: |
+86-21-6109 9630 |
|
E-Mail : |
DIRECTORS
AS ON 24.10.2011
|
Name : |
Mr. Bhadresh .V. Mehta |
|
Designation : |
Managing Director |
|
Address : |
402, Manju Veena Apartment, 2/A, Narayan Dabholkar road, Opposite Nepean Sea Road,
Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
28.10.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.05.2008 |
|
DIN No.: |
01206174 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29261MH1987PTC045725 |
KIN-TEX
ENGINEERS PRIVATE LIMITED |
Director |
30-12-87 |
30-12-87 |
Active |
NO |
|
2 |
U51900MH1999PLC120968 |
BRITEX
COTTON INTERNATIONAL LIMITED |
Director |
23-07-99 |
23-07-99 |
Active |
NO |
|
3 |
U17119GJ1994PTC023788 |
GALAXY
COTTON AND TEXTILES PRIVATE LIMITED |
Director |
03-05-02 |
03-05-02 |
Active |
NO |
|
4 |
U51909MH2008PLC182506 |
BHADRESH
TRADING CORPORATION LIMITED |
Managing
director |
01-06-08 |
21-05-08 |
Active |
NO |
|
5 |
U91110MH1921NPL000940 |
COTTON
ASSOCIATION OF INDIA |
Director |
31-12-08 |
31-12-08 |
Active |
NO |
|
6 |
U01111MH2009PTC195634 |
BHADRESH
AGRO INDUSTRIES PRIVATE LIMITED |
Director |
09-09-09 |
09-09-09 |
Active |
NO |
|
7 |
U14200MH2009PTC195633 |
BHADRESH
NATURAL RESOURCES PRIVATE LIMITED |
Director |
09-09-09 |
09-09-09 |
Active |
NO |
|
8 |
U45202MH2009PTC195679 |
BHADRESH
INFRA VENTURE PRIVATE LIMITED |
Director |
10-09-09 |
10-09-09 |
Active |
NO |
|
9 |
U52300MH2010PLC211200 |
BTC CASHCOT
INDUSTRIES LIMITED |
Director |
22-12-10 |
22-12-10 |
Active |
NO |
|
10 |
U17110GJ2006PTC047456 |
RAGHUVANSHI
COTTON GINNING AND PPRESSING PRIVATE LIMITED |
Additional
director |
30-01-12 |
30-01-12 |
Active |
NO |
|
11 |
U17119GJ1998PTC034650 |
GIRIRAJ
GINNING AND PRESSING PRIVATE LIMITED |
Additional
director |
30-01-12 |
30-01-12 |
Active |
NO |
|
Name : |
Mrs. Heena Mehta |
|
Designation : |
Director |
|
Address : |
402, Manju Veena Apartment, 2/A, Narayan Dabholkar road, Opposite Nepean Sea Road,
Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1958 |
|
Date of Appointment : |
21.05.2008 |
|
DIN No.: |
00655763 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29261MH1987PTC045725 |
KIN-TEX
ENGINEERS PRIVATE LIMITED |
Director |
30-12-87 |
30-12-87 |
Active |
NO |
|
2 |
U51900MH1999PLC120968 |
BRITEX
COTTON INTERNATIONAL LIMITED |
Director |
23-07-99 |
23-07-99 |
Active |
NO |
|
3 |
U17119GJ1994PTC023788 |
GALAXY
COTTON AND TEXTILES PRIVATE LIMITED |
Director |
03-05-02 |
03-05-02 |
Active |
NO |
|
4 |
U51909MH2008PLC182506 |
BHADRESH
TRADING CORPORATION LIMITED |
Director |
21-05-08 |
21-05-08 |
Active |
NO |
|
5 |
U17110GJ2006PTC047456 |
RAGHUVANSHI
COTTON GINNING AND PPRESSING PRIVATE LIMITED |
Additional
director |
30-01-12 |
30-01-12 |
Active |
NO |
|
Name : |
Mr. Parth .B. Mehta |
|
Designation : |
Managing Director |
|
Address : |
402, Manju Veena Apartment, 2/A, Narayan Dabholkar road, Opposite Nepean Sea Road,
Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
30.04.1988 |
|
Qualification : |
Pursuing Study |
|
Date of Appointment : |
01.06.2008 |
|
DIN No.: |
01802821 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51900MH1999PLC120968 |
BRITEX
COTTON INTERNATIONAL LIMITED |
Director |
15-12-07 |
15-12-07 |
Active |
NO |
|
2 |
U51909MH2008PLC182506 |
BHADRESH
TRADING CORPORATION LIMITED |
Managing
director |
01-06-08 |
21-05-08 |
Active |
NO |
|
3 |
U17119GJ1994PTC023788 |
GALAXY
COTTON AND TEXTILES PRIVATE LIMITED |
Director |
26-05-08 |
26-05-08 |
Active |
NO |
|
4 |
U01111MH2009PTC195634 |
BHADRESH
AGRO INDUSTRIES PRIVATE LIMITED |
Director |
09-09-09 |
09-09-09 |
Active |
NO |
|
5 |
U14200MH2009PTC195633 |
BHADRESH
NATURAL RESOURCES PRIVATE LIMITED |
Director |
09-09-09 |
09-09-09 |
Active |
NO |
|
6 |
U45202MH2009PTC195679 |
BHADRESH
INFRA VENTURE PRIVATE LIMITED |
Director |
10-09-09 |
10-09-09 |
Active |
NO |
|
7 |
U52300MH2010PLC211200 |
BTC
CASHCOT INDUSTRIES LIMITED |
Director |
22-12-10 |
22-12-10 |
Active |
NO |
|
8 |
U17110GJ2006PTC047456 |
RAGHUVANSHI
COTTON GINNING AND PPRESSING PRIVATE LIMITED |
Additional
director |
30-01-12 |
30-01-12 |
Active |
NO |
|
9 |
U17119GJ1998PTC034650 |
GIRIRAJ
GINNING AND PRESSING PRIVATE LIMITED |
Additional
director |
30-01-12 |
30-01-12 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.10.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Bhadresh Vasantrai Mehta |
3700000 |
34.96 |
|
Parth Bhadresh Mehta |
3250000 |
30.70 |
|
Heena Bhadresh Mehta |
10000 |
0.09 |
|
Kinjal Ronak Vora |
10000 |
0.09 |
|
Ronak Atul Vora |
10000 |
0.09 |
|
Ramesh H. Mehta |
10000 |
0.09 |
|
Bharti Ramesh Mehta |
10000 |
0.09 |
|
Bhadresh Agro Industries Private Limited, India |
2198320 |
20.77 |
|
Sumeet Promoters Private Limited, India |
88000 |
0.83 |
|
Bhadresh Infra Venture Private Limited, India |
1298320 |
12.27 |
|
TOTAL
|
10584640 |
100.00 |
AS ON 27.03.2012
|
Names of Shareholders |
No. of Shares |
|
Bhadresh Vasantrai Mehta |
1000000 |
|
Parth Bhadresh Mehta |
1200000 |
|
Heena Bhadresh Mehta |
200000 |
|
Sumeet Promoters Limited, India |
1100000 |
|
TOTAL
|
3500000 |
AS ON 24.10.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
16.67 |
|
Directors or relatives of Directors |
83.33 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Importer of Cotton and Cotton Ginners |
GENERAL INFORMATION
|
No. of Employees : |
30 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, 10/12, 4th Floor,
Mumbai Samachar MArg, Fort, Mumbai-400023, Maharashtra, India ·
Export Import Bank of India, Center One Building,
Floor21, WTC, Cuffe Parade, Mumbai-400005, Maharashtra, India ·
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe
Parade, Mumbai-400005, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.D. Shah and Associates Chartered Accountant |
|
Address : |
Kandivali (West), Mumbai, Maharashtra, India |
|
Pan No.: |
AAHFJ2484N |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10584640 |
Equity Shares |
Rs.10/- each |
Rs. 105.846
Millions |
|
|
|
|
|
AS ON 24.10.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14084640 |
Equity Shares |
Rs.10/- each |
Rs. 140.846
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
01.04.2009 to
31.03.2010 |
21.05.2008 to
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
105.846 |
84.000 |
70.000 |
|
|
2] Share Application Money |
450.000 |
468.464 |
0.000 |
|
|
3] Reserves & Surplus |
792.536 |
456.702 |
215.259 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1348.382 |
1009.166 |
285.259 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3664.318 |
2888.495 |
1266.255 |
|
|
2] Unsecured Loans |
247.496 |
234.196 |
51.092 |
|
|
TOTAL BORROWING |
3911.814 |
3122.691 |
1317.347 |
|
|
DEFERRED TAX LIABILITIES |
4.786 |
2.664 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5264.982 |
4134.521 |
1602.606 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
87.230 |
89.425 |
22.588 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
43.344 |
|
|
|
|
|
|
|
|
INVESTMENT |
11.392 |
0.000 |
0.200 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.543 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1803.702
|
2684.166 |
1096.398 |
|
|
Sundry Debtors |
892.099
|
1436.626 |
539.844 |
|
|
Cash & Bank Balances |
1399.779
|
601.499 |
68.916 |
|
|
Other Current Assets |
293.403
|
37.098 |
0.000 |
|
|
Loans, Advances & Deposits |
1502.422
|
197.334 |
248.243 |
|
Total
Current Assets |
5891.405
|
4956.723 |
1953.401 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
212.422
|
816.764 |
343.561 |
|
|
Current Liabilities |
370.233
|
20.863 |
56.409 |
|
|
Provisions |
142.390
|
74.000 |
17.500 |
|
Total
Current Liabilities |
725.045
|
911.627 |
417.470 |
|
|
Net Current Assets |
5166.360
|
4045.096 |
1535.931 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5264.982 |
4134.521 |
1602.606 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
01.04.2009 to
31.03.2010 |
21.05.2008 to
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Operating Income |
26441.085 |
21501.382 |
6130.842 |
|
|
|
Other Income |
52.347 |
43.225 |
19.292 |
|
|
|
TOTAL (A) |
26493.432 |
21544.607 |
6150.134 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
25034.653 |
20472.140 |
-- |
|
|
|
Cost of Goods Sold |
-- |
-- |
5703.716 |
|
|
|
Employee related costs |
11.388 |
5.037 |
-- |
|
|
|
Administration and Other Expenses |
821.898 |
665.813 |
27.458 |
|
|
|
Selling and Distribution Expenses |
-- |
-- |
142.465 |
|
|
|
Prior period items |
0.000 |
0.043 |
|
|
|
|
Extraordinary items before tax |
0.000 |
(2.121) |
-- |
|
|
|
TOTAL (B) |
25867.939 |
21140.912 |
5873.639 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
625.493 |
403.695 |
276.495 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
411.704 |
225.344 |
223.245 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
213.789 |
178.351 |
53.250 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.060 |
3.201 |
1.034 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
209.729 |
175.150 |
52.216 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
70.512 |
59.707 |
16.957 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
139.217 |
115.443 |
35.259 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
150.702 |
35.259 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
289.919 |
150.702 |
35.259 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B Value of Exports |
NA |
18279.788 |
5181.207 |
|
|
|
Service Charges |
NA |
0.072 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
18279.860 |
5181.207 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
6.528 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
6.528 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.08 |
15.65 |
5.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
01.04.2009 to
31.03.2010 |
21.05.2008 to
31.03.2009 |
|
PAT / Total Income |
(%) |
0.53
|
0.54 |
0.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.79
|
0.81 |
0.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.51
|
3.47 |
2.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.17 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.44
|
4.00 |
6.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.13
|
5.44 |
4.68 |
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. Constructions 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 |
Yes |
|
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 |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
FINANCIAL RESULTS:
In spite of the several
Changes in Government policy for Export of Raw Cotton, the Company’s Turnover
increased from 21500.000 Millions to 26440.000 Millions during the Year. The
Company’s Net profit after Tax was also increased from 115.400 Millions to
Rs.139.200 Millions.
FORM 8
|
Corporate
identity number of the company |
U51909MH2008PLC182506 |
|
Name of the
company |
BHADRESH TRADING
CORPORATION LIMITED |
|
Address of the
registered office or of the principal place of business in |
205, Majestic Shopping Centre, 144, J.S.S. Road, Near Opera House, Girgaum, Mumbai – 400 004, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Export Import Bank of India, Center One Building, Floor 21, WTC, Cuffe Parade, Mumbai-400005, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of Hypothecation
of Current Assets dated 21/02/2012 executed by Bhadresh Trading Corporation
Limited ("the Company") in favour of Export Import Bank of India
("Exim Bank") |
|
Date of
instrument Creating the charge |
21.02.2012 |
|
Amount secured by
the charge |
Rs. 500.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest a) INR : 11.75%
p.a. with monthly rests (subject to reset). b) USD: Libor (6 months)
+ 475 bps p.a. (all inclusive), payable quarterly (subject to reset). Terms of repayment a) Pre-Shipment:
At the expiry of 180 days from the date of each disbursement or out of
relative export proceeds whichever is earlier. b) Post-Shipment:
Out of relative export proceeds or at the expiry of 180 days from the date of
each disbursement under post-shipment credit whichever is earlier. Margin a) Pre-Shipment:
Minimum of 20.00% of Individual Export Order. b) Post-Shipment:
Minimum 10.00% of Individual Export Bill. Extent and operation of the charge Charge created by
Deed of Hypothecation shall operate as a continuing security by way of first
pari passu charge over the Company's entire current assets including
receivables for the due repayment of the Facility up to the revolving limit
of Rs.500.000 Millions in INR/USD and also for payment of interest and other
monies payable by the Company under the Dual Currency Pre Shipment cum Post
shipment Loan Agreement dated 21.02.2012. |
|
Short particulars
of the property charged (Including location of the property) |
Company's entire
current assets, both present and future, including receivables more
particularly described in Schedule III of the DOH attached hereto. |
FIXED ASSETS
·
Motor Vehicles
·
Computer
·
Office Equipment
·
Furniture and Fixtures
·
Building
·
Plant and Machinery
website details
PROFILE:
Subject is a four decade old
business house in
An Integral part of Bhadresh Trading, a USD 450 million organization is a
strong global network of distribution, indenting and export of Cotton to
various segments of the Industry in the world. Today they also import and
distribute cotton from the world’s leading cotton exporting countries like
Bhadresh Trading are the architect of a diverse and endearing network of
partners, built on values, trust and loyalty. In the chosen market, Bhadresh
Trading is a symbol of client satisfaction, professionalism, superior quality
and innovation. All in all, they are committed to being a responsible global
player that adds value and consistently exceeds expectations.
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. 55.85 |
|
|
1 |
Rs. 86.87 |
|
Euro |
1 |
Rs. 69.87 |
INFORMATION DETAILS
|
Information Gathered
by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.