|
Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHIRDI INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
'A' Wing, Mhatre Pen
Building, 2nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai -
400 028, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
15.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-075613 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 173.066 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51900MH1993PLC075613 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS26935G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of MDF Board, Particle Board, prelaminated Board, etc |
|
|
|
|
No. of Employees : |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular 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 PARTED BY
|
Name : |
Mr. Vasant Navuda |
|
Designation : |
DGM Accounts |
|
Contact No.: |
91-22-43450777 |
|
Date : |
27.02.2012 |
LOCATIONS
|
Registered Office / Head Office : |
'A' Wing, Mhatre
Pen Building, 2nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai
- 400 028, Maharashtra, India |
|
Tel. No.: |
91-22-24318550 |
|
Fax No.: |
91-22-24372200 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 Sq.fts |
|
Location : |
Owned |
|
|
|
|
Central
Marketing Office : |
18, Prime Centre,
2nd Floor, |
|
Tel. No.: |
91-22-67101111/67101133 |
|
Fax No.: |
91-22-67101122 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No. 1, Sector 9, IIE, Sidcul, Pantnagar, District U.S. Nagar,
Uttarakhand, India |
|
|
|
|
Factory 2 : |
Bhawanpur, District - Haridwar, Uttarakhand, India |
|
|
|
|
Factory 3 : |
SF No. 170/2, Annur, District - Coimbatore, Tamilnadu, India |
|
|
|
|
Factory 4 : |
JSR Complex, E2/1, Bhiwandi, District - Thane, Maharashtra, India |
|
|
|
|
Branch Office
: |
Located At:
|
DIRECTORS
AS ON 11.07.2011
|
Name : |
Mr. Rakesh Kumar
Agarwal |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 326,
Matrusmruti, New Linking Road, Khar (West), Mumbai – 400 052, |
|
Date of Birth/Age : |
10.06.1963 |
|
Date of Appointment : |
15.12.1993 |
|
DIN No. : |
00244328 |
|
|
|
|
Name : |
Mr. Mukesh
Hariram Bansal |
|
Designation : |
Director |
|
Address : |
Plot No. 326, Matrusmruti,
New Linking Road, Khar (West), Mumbai – 400 052, |
|
Date of Birth/Age : |
29.09.1961 |
|
Date of Appointment : |
16.11.1996 |
|
DIN No. : |
00244474 |
|
|
|
|
Name : |
Mr. Sarvesh
Hariram Bansal |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No. 326,
Matrusmruti, New Linking Road, Khar (West), Mumbai – 400 052, |
|
Date of Birth/Age : |
30.05.1976 |
|
Date of Appointment : |
30.05.2001 |
|
DIN No. : |
00244881 |
|
|
|
|
Name : |
Mr. Hariram Budhram
Agarwal |
|
Designation : |
Whole Time
Director |
|
Address : |
Plot No. 326,
Matrusmruti, New Linking Road, Khar (West), Mumbai – 400 052, |
|
Date of Birth/Age : |
03.01.1937 |
|
Date of Appointment : |
16.11.1996 |
|
DIN No. : |
00245032 |
|
|
|
|
Name : |
Mr. Jasbir Singh |
|
Designation : |
Director |
|
Address : |
703, Vandana
Apartments, Jan Kalyan Nagar, Malvani, Malad (West), Mumbai – 400 098, |
|
Date of Birth/Age : |
04.05.1952 |
|
Date of Appointment : |
24.10.2003 |
|
DIN No. : |
00271251 |
|
|
|
|
Name : |
Mr. Sujay N
Kantawala |
|
Designation : |
Director |
|
Address : |
74, Dariya Mahal
– li 80, |
|
Date of Birth/Age : |
02.04.1967 |
|
Date of Appointment : |
26.07.2010 |
|
DIN No. : |
00271102 |
|
|
|
|
Name : |
Mr. Anand Kumar
Jain |
|
Designation : |
Director |
|
Address : |
House No-9, B N
Reddy Colony, Road, No. 14, Banjara Hills, |
|
Date of Birth/Age : |
01.06.1947 |
|
Date of Appointment : |
01.11.2006 |
|
DIN No. : |
00056184 |
|
|
|
|
Name : |
Mr. Ravish Chand
Jain |
|
Designation : |
Director |
|
Address : |
C -51 Vivek
Vihar, |
|
Date of Birth/Age : |
01.07.1955 |
|
Date of Appointment : |
01.11.2006 |
|
DIN No. : |
00056227 |
|
|
|
|
Name : |
Mr. Mahabir
Prasad Agrawall |
|
Designation : |
Director |
|
Address : |
26, Palm Country,
|
|
Date of Birth/Age : |
09.05.1953 |
|
Date of
Appointment : |
15.03.2010 |
|
DIN No. : |
00040364 |
|
|
|
|
Name : |
Mr. Bankuru
Venkateswara Rao |
|
Designation : |
Whole Time
Director |
|
Address : |
High 102,
Bharatnagat Colony |
|
Date of Birth/Age : |
31.07.1959 |
|
Date of
Appointment : |
01.10.2009 |
|
DIN No. : |
02859677 |
KEY EXECUTIVES
|
Name : |
Mr. Sraban kumar Jain |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.1502, 15th Floor, Building No. T3, Daffodil, Soham
Manpada, Ghodbunder Road, Thane (West), Thane-400607, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1977 |
|
Date of Appointment : |
27.12.2010 |
|
Pan No. : |
BCIPK8278B |
|
|
|
|
Name : |
Mr. Vasant Navuda |
|
Designation : |
DGM Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.07.2011
|
Names of Shareholders |
No. of Shares |
|
Rakesh Hariram Agrawal |
1325440 |
|
Anita Mukesh Bansal |
558800 |
|
Rukamani Hariram Agarwal |
300250 |
|
Mukesh Bansal |
1293690 |
|
Anu Agarwal |
734630 |
|
Sarvesh Hariram Agarwal |
711770 |
|
Sajal Finance and investment Private Limited – |
725000 |
|
Rachana Finance and investment Private Limited – India |
965000 |
|
Pratibha Finance and investment Private Limited – |
185000 |
|
Dytel Finance and Investment Private Limited – |
180000 |
|
Manhar Properties Private Limited – |
49000 |
|
Hariram Agarwal |
406200 |
|
Asha Sarvesh Agarwal |
258200 |
|
Asis Industries Private Limited – |
8290000 |
|
Labh Capital Services Private Limited – |
1323600 |
|
Total
|
17306580 |
AS ON 11.07.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
67.71 |
|
Directors or relatives of Directors |
32.29 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of MDF Board, Particle Board, prelaminated Board, etc |
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Products : |
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Exports : |
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||||||||
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Countries : |
·
Dubai ·
Singapore |
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Imports : |
|
||||||||
|
Products : |
Raw Material |
||||||||
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Countries : |
·
China ·
Malaysia ·
Span ·
Japan |
||||||||
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Terms : |
|
||||||||
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Selling : |
Credit (60 days) |
||||||||
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|
||||||||
|
Purchasing : |
Credit (60 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Plain and Pre-laminated Boards* |
SqM |
50881000 |
50881000 |
19082357 |
|
Decorative Laminates |
SqM |
18800000 |
18800000 |
11528789 |
|
Furniture (including
flooring, furniture components, Door, Door Skins and others) |
|
-- |
-- |
13647419 |
Note:
* The capacity
includes 1,01,71,690 SQ MET of pre-lamination also, for which plain boards manufactured
by the Company are also used for captive consumption.
GENERAL INFORMATION
|
Customers : |
Distributors |
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|
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No. of Employees : |
400 (Approximately) |
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|
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Bankers : |
· Union Bank of India, Lead Bank of UBI Bank Consortium Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai – 400 023, Maharashtra, India · UCO Bank · Bank of India · Indian Bank · Standard Chartered Bank · State Bank of India |
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|
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and
Company Chartered Accountant |
|
Address : |
701, Leela Business
Park Andheri Kurla Rd Andheri-East Mumbai-400059, Maharashtra, India |
|
Pan No.: |
AAAFH2010F |
|
|
|
|
Enterprises significantly influenced by key
management personnel or their relatives : |
·
Asis Global Limited ·
Asis Logistic Limited ·
Asis Overseas (C and F) Private Limited ·
Asis Plywood Private Limited ·
Dytel Finance and Investment Private Limited ·
Labh Capital Service Private Limited ·
Manhar Properties Private Limited ·
Poona Pearls Biotek Limited ·
Pratibha Finance and Investment Private Limited ·
Rachna Finance and Investment Private Limited ·
Repute Properties Private Limited ·
Swanbay Technologies Private Limited ·
Asis Industries Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17306580 |
Equity Shares |
Rs.10/- each |
Rs. 173.066
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 |
173.066 |
173.066 |
177.506 |
|
|
2] Share Application Money |
0000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2510.692 |
904.839 |
640.365 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2683.758 |
1077.905 |
817.871 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2605.665 |
2131.247 |
1950.563 |
|
|
2] Unsecured Loans |
299.993 |
210.343 |
77.430 |
|
|
TOTAL BORROWING |
2905.658 |
2341.590 |
2027.993 |
|
|
DEFERRED TAX LIABILITIES |
83.800 |
66.013 |
46.033 |
|
|
|
|
|
|
|
|
TOTAL |
5673.216 |
3485.508 |
2891.897 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3076.558 |
1763.603 |
1763.842 |
|
|
Capital work-in-progress |
88.404 |
12.220 |
24.035 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
31.892 |
124.076 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1240.186
|
651.027
|
587.810 |
|
|
Sundry Debtors |
1377.851
|
1165.826
|
554.356 |
|
|
Cash & Bank Balances |
82.279
|
49.112
|
23.954 |
|
|
Other Current Assets |
0.000
|
1.745
|
0.000 |
|
|
Loans & Advances |
481.242
|
290.488
|
251.707 |
|
Total
Current Assets |
3181.558
|
2158.198 |
1417.827 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
567.494
|
415.772
|
375.309 |
|
|
Other Current Liabilities |
40.390
|
10.482
|
20.820 |
|
|
Provisions |
100.135
|
65.448
|
41.754 |
|
Total
Current Liabilities |
708.019
|
491.702 |
437.883 |
|
|
Net Current Assets |
2473.539
|
1666.496
|
979.944 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
34.715 |
11.297 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5673.216 |
3485.508 |
2891.897 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4008.324 |
2606.196 |
2157.992 |
|
|
|
Other Income |
44.983 |
27.892 |
13.361 |
|
|
|
TOTAL (A) |
4053.307 |
2634.088 |
2171.353 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of finished goods |
0.000 |
0.000 |
556.358 |
|
|
|
Raw material and packing material consumed |
4333.881 |
1942.327 |
718.127 |
|
|
|
Decrease/(increase) in inventories |
0.000 |
0.000 |
(101.892) |
|
|
|
Personnel expenses |
0.000 |
0.000 |
93.924 |
|
|
|
Other manufacturing, administrative, selling |
173.135 |
127.157 |
395.049 |
|
|
|
Employee Related Expenses |
114.090 |
94.852 |
0.000 |
|
|
|
Manufacturing service Cost |
337.112 |
299.621 |
0.000 |
|
|
|
Prior Period Items |
(1.008) |
17.372 |
0.000 |
|
|
|
TOTAL (B) |
4957.210 |
2481.329 |
1661.566 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(903.903) |
152.759 |
509.787 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
303.082 |
248.923 |
197.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1206.985) |
(96.164) |
312.087 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
198.340 |
184.329 |
142.199 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1405.325) |
(280.493) |
169.888 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
51.260 |
20.053 |
(2.961) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(1456.584) |
(300.546) |
172.849 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
199.668 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
965.044 |
632.550 |
372.517 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
199.165 |
96.491 |
97.308 |
|
|
TOTAL EARNINGS |
199.165 |
96.491 |
97.308 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
248.374 |
155.341 |
98.626 |
|
|
|
Finished Goods |
41.780 |
16.253 |
0.974 |
|
|
|
Capital Goods |
42.363 |
6.605 |
41.725 |
|
|
TOTAL IMPORTS |
332.517 |
178.199 |
141.325 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
19.21 |
15.03 |
9.99 |
|
|
|
- Diluted |
19.21 |
15.03 |
9.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(35.94)
|
(11.41) |
7.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(35.06)
|
(10.76) |
7.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(22.46)
|
(7.15) |
5.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.52)
|
(0.26) |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.38
|
2.69 |
3.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.49
|
4.39 |
3.24 |
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 |
------- |
|
8. No. of Employees |
Yes |
|
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% |
No |
|
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 |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
SUNDRY CREDITORS
DETAILS
(Rs.
In millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
567.494 |
415.772 |
375.309 |
|
Total |
567.494 |
415.772 |
375.309 |
COMPANY’S PERFORMANCE:
The Company has
achieved turnover of Rs. 4053.300 millions for the period 1st April 2010 to
31st March 2011 as against the turnover of Rs. 2634.800 millions for the year
ended 31st March 2010 representing growth of 54%.
CONTINGENT
LIABILITIES NOT PROVIDED FOR
Rs.
In Millions
|
Particulars |
31.03.2011 |
|
a) Corporate
Guarantees given on behalf of others. |
59.880 |
|
b) Claims against
the company not acknowledged as debt |
0.552 |
|
Total
|
91.6631 |
FORM 8
|
This form is for |
Modification of charge |
||||||||||||||||||||||||||||
|
Charge identification number of the
modified |
80015874 |
||||||||||||||||||||||||||||
|
Corporate identity number of the company |
U51900MH1993PLC075613 |
||||||||||||||||||||||||||||
|
Name of the company |
SHIRDI INDUSTRIES LIMITED |
||||||||||||||||||||||||||||
|
Address of the registered office or of the
principal place of business in |
'A' Wing, Mhatre
Pen Building, 2nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai
- 400 028, Maharashtra, India |
||||||||||||||||||||||||||||
|
Type of charge |
Immovable Property |
||||||||||||||||||||||||||||
|
Particular of charge holder |
Union Bank of India, Lead Bank of UBI Bank Consortium Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai – 40 023, Maharashtra, India |
||||||||||||||||||||||||||||
|
Email |
|||||||||||||||||||||||||||||
|
Nature of description of the instrument
creating or modifying the charge |
Extension of equitable mortgage |
||||||||||||||||||||||||||||
|
Date of instrument Creating the charge |
04.11.2011 |
||||||||||||||||||||||||||||
|
Amount secured by the charge |
Rs.3140.600 Millions |
||||||||||||||||||||||||||||
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest As Determined In The Relevant Sanction
Letters of each Bank of UBI Consortium. Terms of Repayment On demand / as stipulated in the relevant
sanction letters of each bank of UBI Consortium. Margin As stipulated in the relevant sanction
letters of each bank of UBI Consortium. Extent and Operation of the charge To secure an aggregate amount of
Rs.3140.600 Millions granted by UBI consortium to the company as under :- (Rs. in Millions)
Others Union Bank of India is designated and
recognized as lead bank of UBI consortium and the member banks of the said
consortium are as under :- (1) Union Bank of India (UBI) (2) UCO bank (UCO) (3) Bank of India (BOI) (4) Indian Bank (IB) (5) Standard Chartered Bank (SCB) (6) State Bank of India (SBI) |
||||||||||||||||||||||||||||
|
Short particulars of the property charged |
Extension of equitable mortgage in favour
of UBI consortium in respect of the company's immovable properties viz. (1) all that piece of land known as plot
no.1, sector-9, in the Pantanagar Industrial Area within the village limits of Shimla
Bahadur and Kalyanpur, Tehsil Kiccha and within / outside the limits of
municipal council of Rudrapur, Udhamsingh Nagar District, State of
Uttaranchal Containing by admeasurements 101656 sq.
Mtrs. Or thereabout and bounded as
follows - On or towards the north by : 24 meter wide
road On or towards the south by : green belt
and than 45 meter wide road On or towards the east by : Plot No.2 of
Sector - 9 On or towards the west by : 75 meter wide
road. (2) office unit no.226, on the 2nd floor
in 'a' wing, of Mhatre Pen Building on the land Bearing C.S. No.1/1374 of Lower Parel
Division and Final Plot no.533 of T.P.S. Iv, Mahim division on Senapati Bapat
Marg, Dadar (west), Mumbai - 400 028. (3) all that piece and parcel of land
comprised in survey nos.1064/2a, 1067/1a1, 1063/2, 1063/3, 1064/1b, 1064/2a,
1066/1b, 1066/3, 1065/3b, 1080/3, 1064/2c, 1065/1, 1066/2, 1065/3a1a,
1065/3a2, 1064/2b And 1065/2 situated at Elavoor village,
Gummidi Pundi Taluka, Tiruvallur district within sub-registrar district of
Gummidi Pundi and registration district of north Chennai. |
||||||||||||||||||||||||||||
|
Date of latest modification prior to the
present modification |
20.09.2010 |
||||||||||||||||||||||||||||
|
Particulars of the present
modification |
UBI consortium which comprises of union bank
of India as lead bank, UCO Bank, bank of India, Indian Bank, Standard
Chartered Bank and State Bank of India as members of the consortium have
granted to the company an aggregate amount of Rs.3140.600 Millions and the
properties mortgaged by the company shall continue to be mortgaged in favour
of working capital lenders and term
loan lenders except standard chartered bank (SCB) on 1st pari passu charge
basis and in favour of SCB on 2nd pari passu charge basis. |
Fixed assets:-
· Land Freehold
· Land Leasehold
· Leasehold Improvements
· Building
· Plant and Machinery
· Vehicles
· Furniture and Fixtures
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. 49.14 |
|
|
1 |
Rs. 77.85 |
|
Euro |
1 |
Rs. 66.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.