|
Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPI CINEMAS PRIVATE LIMITED (w.e.f.30.09.1991) |
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Formerly Known
As : |
CHAYA LAKSHMI CREATIONS PRIVATE LIMITED |
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Registered
Office : |
24-2-1870, II and Floor, 3rd Cross Central Avenu Magunta
Layout |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.09.1991 |
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Com. Reg. No.: |
07-013273 |
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Capital
Investment / Paid-up Capital : |
Rs.37.202 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92111AP1991PTC013273 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Screening of Movies, Gaming Zone |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Financial
position of the company appears to be sound. However, 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
24-2-1870, II and Floor, 3rd Cross Central Avenu Magunta
Layout, Nellore – 524003, Andhra Pradesh, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website: |
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Corporate Office : |
25, Whites Road, Mamatha Complex, 5th Floor, Royapettah, Chennai
– 600014, Tamilnadu, India |
|
Tel. No.: |
91-44-43920200 |
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Theatre Location: |
8, Thiru-vi-ka Road, Royapettah, Chennai – 600014, Tamilnadu, India |
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Tel. No.: |
91-44-43920200 |
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Fax No.: |
91-44-43920333 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. P Rambhoopal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Director |
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|
Address : |
265 –H Road No.10, Jubilee Hills, Hyderabad – 500034, Andhra Pradesh,
india |
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Date of Appointment : |
22.03.2007 |
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DIN No.: |
00194814 |
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Other
Directorship:
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|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. R Krishnamurthy |
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Designation : |
Director |
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Address : |
No. 14, Saravana Apartments, 243 TTk Road, Alwarpet, Chennai – 600018, Tamilnadu,
India |
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Date of Birth/Age : |
16.09.1940 |
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Date of Appointment : |
10.12.2001 |
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DIN No.: |
00062255 |
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Other
Directorship:
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Name : |
Mr. K Niranjan |
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Designation : |
Director |
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Address : |
101/5 First Floor, Bazullah Road, T Nagar, Chennai – 600017,
Tamilandu, India |
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Date of Birth/Age : |
05.04.1955 |
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Date of Appointment : |
25.08.2008 |
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DIN No.: |
00179613 |
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Other
Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
R Krishnamurthy |
|
10 |
|
P Rambhoopal |
|
1000 |
|
Diadem Enterprises Private Limited, India |
|
117000 |
|
Ceaser Enterprises Private Limited, India |
|
38000 |
|
Pixie Enterprises Private Limited, India |
|
29000 |
|
Primus Enterprises Private Limited, India |
|
37000 |
|
Zainab Trading Company Private Limited, India |
|
15000 |
|
Samayanallur Power Investments Private Limited, India |
|
135000 |
|
Valluru Sandhya |
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2 |
|
Lashita |
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2 |
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M Kiran Reddy |
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3 |
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S V Swaroop Reddy |
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3 |
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Total |
|
372020 |
As on 31.03.2012
|
Names of Allottees |
|
No. of Shares |
|
Samayanallur Power Investments Private Limited |
|
209000 |
|
SS Theatres Private Limited |
|
29250 |
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S.V Swaroop Reddy |
|
82500 |
|
|
|
|
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Total |
|
320750 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
99.73 |
|
Directors or relatives of Directors |
0.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Screening of Movies, Gaming Zone |
PRODUCTION STATUS (As on 31.03.2011)
The Installed and actual capacity of windmills
is follows
a) Installed
Capacity: 1.25 MW
Produced Quantity: 24,88,860 Units
b) Installed
Capacity: 1.50 MW
Produced Quantity: 2,520 Units
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Indian Overseas Bank, Commercial and
Institutional Credit Branch, No.98A, Dr. Radhakrishnan Salai Branch,
Mylapore, Chennai – 600004, Tamilnadu, India ·
State Bank of India, Nungambakkam Branch, #110/1,
Uthamar Gandhi Road, Nungambakkam, Chennai – 600034, Tamilnadu, India ·
ING Vysys Bank ·
Standard Chartered Bank, 19 Rajaji Salai, Chennai
– 600001, Tamilnadu, India |
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Facilities : |
(Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Brahmayya and Company Chartered Accountant |
|
Address : |
No.48, 3rd Floor, Masilamani Road, Balaji Nagar,
Royapettah, Chennai – 600014, Tamilnadu, India |
|
PAN.: |
AAAFB2481J |
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|
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Associate: |
·
Samaynanllur Power Investments Private Limited ·
SPI Properties Private Limited ·
Giant Screen Exhibition Private Limited |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
692770 |
Equity Shares |
Rs.100/-
each |
Rs.69.277
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
372020 |
Equity Shares |
Rs.100/-
each |
Rs.37.202
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
37.202 |
37.202 |
37.202 |
|
|
2] Share Application Money |
0.000 |
37.215 |
37.215 |
|
|
3] Reserves & Surplus |
213.299 |
178.520 |
166.306 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
250.501 |
252.937 |
240.723 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
277.114 |
173.301 |
117.487 |
|
|
2] Unsecured Loans |
276.269 |
117.909 |
98.489 |
|
|
TOTAL BORROWING |
553.383 |
291.210 |
215.976 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
2.785 |
|
|
|
|
|
|
|
|
TOTAL |
803.884 |
544.147 |
459.484 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
658.751 |
296.577 |
328.914 |
|
|
Capital work-in-progress |
103.986 |
96.373 |
0.234 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.280 |
2.605 |
0.302 |
|
|
DEFERREX TAX ASSETS |
16.304 |
1.709 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.882
|
2.765 |
3.481 |
|
|
Sundry Debtors |
19.808
|
22.810 |
16.731 |
|
|
Cash & Bank Balances |
6.012
|
18.550 |
5.858 |
|
|
Other Current Assets |
80.014
|
69.851 |
58.855 |
|
|
Loans & Advances |
49.054
|
105.601 |
111.233 |
|
Total
Current Assets |
158.770
|
219.577 |
196.158 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
87.848
|
37.816 |
20.733 |
|
|
Other Current Liabilities |
33.436
|
29.124 |
31.245 |
|
|
Provisions |
12.923
|
5.754 |
14.146 |
|
Total
Current Liabilities |
134.207
|
72.694 |
66.124 |
|
|
Net Current Assets |
24.563
|
146.883 |
130.034 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
803.884 |
544.147 |
459.484 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
743.124 |
584.891 |
NA |
|
|
|
Other Income |
62.454 |
47.655 |
NA |
|
|
|
TOTAL (A) |
805.578 |
632.546 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Distributor Share |
164.324 |
122.615 |
NA |
|
|
|
Indian News Review Payments |
0.130 |
0.161 |
NA |
|
|
|
Food and Beverage Consumed |
82.120 |
63.084 |
NA |
|
|
|
Administrative and Other Expenses |
408.968 |
322.624 |
NA |
|
|
|
TOTAL (B) |
655.542 |
508.484 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
150.036 |
124.062 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.057 |
20.863 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
112.989 |
103.199 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
92.794 |
86.987 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.185 |
16.212 |
6.598 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(14.594) |
3.998 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
34.779 |
12.214 |
NA |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
41.870 |
29.656 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
76.649 |
41.870 |
29.656 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Advertising Receipts |
0.000 |
0.000 |
0.279 |
|
|
TOTAL EARNINGS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
93.49 |
32.83 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.32
|
1.93 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.72
|
2.77 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.71
|
7.38 |
3.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.06 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.54
|
0.29 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
3.02 |
2.97 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three year |
Yes |
|
12) Profitability for last three years |
No |
|
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) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
Note: Registered office of the company has been shifted
from 265 H, Road No. 10, Jubilee Hills Hyderabad – 500034, Andhra Pradesh,
India to the present address w.e.f.02.05.2006
OPERATIONS:
The Operations
during the year under Report were quite encouraging and the Gross Revenue
showed a growth of 31.4% from Rs 321.277 Millions to Rs. 422.383 Millions. This
should be considered in the backdrop of severe competition from new multiplexes
and other low fare theatres. Further the Directors are happy to announce the
commissioning of Prestigious Escape Theatres at Express Avenue and the
Occupancy has been quite good. Further the Company has taken over Casino
theatre and this will be shortly renovated and brought to Sathyam Standards.
Sathyam enjoys a loyal clientele and the company is taking various steps to increase
this base by improving various facilities and adding additional facilities in
the theatre complex and embarking on opening new screens. With an eye on growth
the Company has been on the look out for more Multiplexes for locating its
Screens and the Company has signed an Agreement for 6 screens at Coimbatore and
is in the final stage of concluding a Contract for 9 screens in Vadapalani. The
other Operations are doing reasonably well. The Company has improved on all
technological fields, especially in projection and sound The Company has added
one more windmill to augment power source.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U92111AP1991PTC013273 |
|
Name of the company |
SPI CINEMAS
PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
24-2-1870, II
and Floor, 3rd Cross Central Avenu Magunta Layout, Nellore –
524003, Andhra Pradesh, India Email: accounts@sathyamcinemas.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of charge holder |
State Bank of India,
Nungambakkam Branch, #110/1, Uthamar Gandhi Road, Nungambakkam, Chennai –
600034, Tamilnadu, India Email: mahendiran56@gmail.com |
|
Nature of instrument creating charge |
1. Agreement of
Hypothecation of Goods and Assets Form
C.2. 2. Letter
regarding the grant of individual limits within the overall limit. Form C.5 |
|
Date of instrument Creating the charge |
22.03.2012 |
|
Amount secured by the charge |
Rs.350.000
Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Term Loan - I & II: 3.25%
above Base Rate (10.00%) + 0.55% Term Premium, effective rate 13.80%,
as against 6.50% above Base Rate (10.00%) + 0.75% Term Premium, effective
rate 17.25% p.a. Terms of Repayment T L - I : Repayable in 64 monthly installments with a moratorium
period of 4 months. First 9 installments of Rs.1.488 Millions each, next 50
monthly installments of Rs.1.495 Millions each and Last monthly installment
of Rs.1.858 Millions. T L - II: Repayable in 67 monthly installments with a moratorium
period of 7 months. First 6 installments of Rs.4.330 Millions each, next 48
monthly installments of Rs.4.338 Millions each, next 5 monthly installments of
Rs.4.300 Millions and Last monthly installment of Rs.4.296 Millions. Margin Term Loan - I : 37% Term Loan - II : 40% Project LC : 40% Extent and Operation of the charge As mentioned in the Agreements Others Nature of
Facilities Rs.in. Millions Term Loan - I 260.000 Term Loan -
II 90.000 LC Backed by
TL (70.000)
------------ Total 350.000 |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Term Loan - I
and II: Hypothecation of Equipments/IT Software, CCTV, Access
Control/Interiors/ Rent Deposit to be purchased out of Bank Finance. Backed up by the
Corporate Guarantee of M/s Sheena Constructions private Limited and M/s
Samayanallur Power Investments Private Limited |
Fixed Assets
·
Land – Wind Mill
·
Plant and Machinery –
Wind Mill
·
Lease Hold – Building
·
Plant and Machinery
·
Office Equipments and
Computers
·
Electrical and Furniture
and Fitting
·
Vehicle
Intangible Assets
·
Software
·
Movie Rights
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.56.85 |
|
|
1 |
Rs.86.87 |
|
Euro |
1 |
Rs.69.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
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 |
|
47 |
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.