|
Report Date : |
13.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
NSSL LIMITED |
|
|
|
|
Formerly Known
As : |
NECO SCHUBERT AND SALZER LIMITED |
|
|
|
|
Registered
Office : |
F-8, M.I.D.C. Industrial Area, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
23.04.1981 |
|
|
|
|
Com. Reg. No.: |
11-163100 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 108.184 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310MH1981PLC163100 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPN01511G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN7173N |
|
|
|
|
Legal Form : |
A Closely Held Public
Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Ferrous Valves, Brass Valves and Auto Components. |
|
|
|
|
No. of Employees
: |
2000 (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 2900000 |
|
|
|
|
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. Varchi Nath |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-7104-662500 |
|
Date : |
10.03.2012 |
LOCATIONS
|
Registered Office : |
F-8, M.I.D.C. Industrial Area, |
|
Tel. No.: |
91-7104-237276 / 236251 / 236255 / 237471 / 237472 /
237461 / 662500 |
|
Fax No.: |
91-7104-236255 / 237583 / 237586 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Works/ Office : |
T – 44/ 45, M.I.D.C.
Industrial Area, Hingna Road, Nagpur – 440 016, Maharashtra, India |
|
Tel. No.: |
91-7104-662500 / 232726 /
232727 / 237042 / 232725 |
|
Fax No.: |
91-7104-232725 / 237583 /
236255 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located at:
|
DIRECTORS
AS ON 13.08.2011
|
Name : |
Mr. Anand Arvindkumar Jayaswal |
|
Designation : |
Managing Director |
|
Address : |
Usha Sadan, 246, PT. R.S.S. Marg, Civil Lines, |
|
Date of Birth/Age : |
10.11.1976 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00192612 |
|
|
|
|
Name : |
Mr. Arbind Kumar Jayaswal |
|
Designation : |
Director |
|
Address : |
Usha Sadan, 246, PT. R.S.S. Marg, Civil Lines, |
|
Date of Birth/Age : |
26.11.1953 |
|
Date of Appointment : |
26.10.2002 |
|
DIN No.: |
00249864 |
|
|
|
|
Name : |
Mr. Ramesh Kumar Jayaswal |
|
Designation : |
Director |
|
Address : |
Usha Sadan, 246, PT. R.S.S. Marg, Civil Lines, |
|
Date of Birth/Age : |
23.04.1960 |
|
Date of Appointment : |
03.10.1996 |
|
DIN No.: |
00249947 |
|
|
|
|
Name : |
Mr. Basant Lall Shaw |
|
Designation : |
Director |
|
Address : |
Usha Sadan, 246, PT. R.S.S. Marg, Civil Lines, |
|
Date of Birth/Age : |
03.08.1933 |
|
Date of Appointment : |
23.04.1981 |
|
DIN No.: |
00249729 |
|
|
|
|
Name : |
Mr. Madan Mohan Vyas |
|
Designation : |
Director |
|
Address : |
K – 53, |
|
Date of Birth/Age : |
07.10.1942 |
|
Date of Appointment : |
24.07.1999 |
|
DIN No.: |
00399012 |
|
|
|
|
Name : |
Mr. Brajkishore Hargovind Agrawal |
|
Designation : |
Director |
|
Address : |
51, New Colony, |
|
Date of Birth/Age : |
28.01.1949 |
|
Date of Appointment : |
24.07.1999 |
|
DIN No.: |
01223894 |
|
|
|
|
Name : |
Mr. Awadh Bihari Pandey |
|
Designation : |
Director |
|
Address : |
102, Ujawal Apartment, 51/E, Trimurty Nagar, |
|
Date of Birth/Age : |
20.08.1951 |
|
Date of Appointment : |
04.09.2004 |
|
DIN No.: |
01801851 |
|
|
|
|
Name : |
Mr. Omprakash Gupta |
|
Designation : |
Director |
|
Address : |
25 G/F, Surya Niketan, Main Road, Surya Niketan, New Delhi – 110 092,
India |
|
Date of Birth/Age : |
05.12.1946 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02189250 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 13.08.2011
|
Names of Shareholders |
No. of Shares |
|
Basant Lall
Shaw |
574000 |
|
Arbind Jayaswal |
1276000 |
|
Ramesh Jayaswal |
792000 |
|
Nisha Jayaswal |
56000 |
|
Rita Jayaswal |
16000 |
|
Jayaswal Holdings Private Limited, India |
2014072 |
|
Anand Jayaswal |
90000 |
|
Avneesh Jayaswal |
32000 |
|
Neco Leasing and Finance Private Limited, India |
758000 |
|
Basant Lall |
32000 |
|
Arbind Jayaswal (HUF) |
40000 |
|
Ramesh Jayaswal |
128000 |
|
Vibrant Electronics Limited, India |
1000000 |
|
Parivar Food Industries Private Limited, India |
1000000 |
|
Jyotikant Investments Private Limited, India |
1100000 |
|
Arnold Kawlath |
90000 |
|
Bertram Kawlath |
90000 |
|
Jayaswal Neco Energy Private Limited, India |
1400000 |
|
Nine Star Plastic Packaging Private Limited, India |
1730000 |
|
Avon Sales and Services Private Limited, India |
1554000 |
|
Anurag Sales and Services Private Limited, India |
1706000 |
|
Jayaswal neco Metallics Private Limited, India |
1296000 |
|
Karamveer Impex Private Limited, India |
1000000 |
|
Apex Spinning Mills Private Limited, India |
1000000 |
|
Total |
18774072 |
AS ON 13.08.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.96 |
|
Bodies corporate |
82.87 |
|
Directors or relatives of Directors |
16.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Ferrous Valves, Brass Valves and Auto Components. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
|
Ferrous Valves |
In numbers |
52000 |
|
Brass Valves Components |
In numbers |
10710630 |
|
Auto Components Machining
I |
In numbers |
144000 |
|
Auto Components Machining
II |
In numbers |
8050 |
|
Aluminium Products |
In numbers |
4000 |
|
Particulars |
Unit |
Actual
Production |
|
Ferrous Valves |
In numbers |
34667 |
|
Brass Valves Components |
In Kgs. |
162229 |
|
Steel and Aluminium
Components |
In Kgs. |
6914 |
|
Auto Components Machining
|
In numbers ** |
185382 |
|
Auto Components Machining
II |
In numbers @ |
30774 |
|
Aluminium Products |
In numbers |
24126 |
NOTES:
** Includes44980 numbers on job work basis.
@ Includes 346 numbers on job work basis.
*Includes Production of Copper Items.
GENERAL INFORMATION
|
Customers : |
·
ATV Projects India Limited ·
The A.P. Paper Mills Limited ·
Artson Engineering Limited ·
Bharat Petroleum Corporation Limited ·
Ballarpur Industries Limited ·
Bharat Heavy Plate and Vessels Limited ·
B.O.C. India Limited ·
Cochin Refineries Limited ·
Clean Air ·
Steel Authority of India Limited ·
Century Textiles and Industries Limited ·
Engineers India Limited ·
Dodsal Limited ·
Kothari Dalal Consultant Limited ·
Gas Authority of India Limited ·
Hindustan Petroleum Corporation Limited ·
Indian Oil Corporation Limited ·
Indian Petrochemical Corporation Limited ·
Jindal Praxair Oxygen Company Private Limited ·
Krishak Bharati Co-Operative Limited ·
Larsen and Toubro Limited ·
Lloyds Steel Industries Limited ·
Narmada Chematur Petrochemical Limited ·
Nirma Limited ·
National Thermal Power Corporation Limited ·
Paharpur Cooling Towers Limited ·
Tamilnadu Petro Products Limited ·
Toyo Engineering Limited ·
NICCO Corporation Limited ·
Stewarts and Lloyds India Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
No. of Employees : |
2000 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
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Bankers : |
|
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|
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Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
V.R. Inamdar
and Company Chartered
Accountants |
|
Address : |
502, Paul
Commercial Complex, |
|
Tel. No.: |
91-712-2246662 |
|
Pan No.: |
AABFV6391G |
|
|
|
|
Name 2 : |
Arawal
Chhallani and Company Chartered
Accountants |
|
Address : |
51, New Colony,
Nagpur-440001, Maharashtra, India |
|
Pan No.: |
AACFA2753L |
|
|
|
|
Subsidiaries : |
CIN No.:
U35999TN1981PTC008916
|
|
|
|
|
Enterprises in which Key Management Personnel and their relatives are
able to exercise significant influence (Other Related Parties) : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
Rs.10/- each |
Rs. 220.000 Millions |
|
300000 |
Preference Shares |
Rs.100/- each |
Rs. 30.000 Millions |
|
|
Total |
|
Rs. 250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8068000 |
Equity Shares |
Rs.10/- each |
Rs. 80.680
Millions |
|
275306 |
Optionally Convertible Cumulative Redeemable Preference Shares |
Rs.100/-
each |
Rs. 27.504
Millions |
|
|
Total |
|
Rs. 108.184 Millions |
Notes:
1.
During the year Authorized Share Capital of the
Company has been increased from Rs. 140.000 Millions to Rs. 250.000 Millions
and Authorized Preference Share Capital of Rs. 30.000 Millions has been
re-classified as Authorized Equity Share Capital.
2.
Of the above
Equity Shares :
2135000 Shares were allotted as Fully Paid-up Bonus shares by
capitalization of General Reserve on 29th December, 1994.
310000 Equity shares were allotted as fully Paid-up for consideration
other than cash on 28th February, 1998.
3.
The above mentioned Optionally Convertible
Cumulative Redeemable Preference Shares (OCCRPS) were originally allotted to
IDBI Limited on conversion of it's dues. Jayaswal Holdings Private Limited (is.
JHPL, a Company under same Management) had proposed to acquire all these
OCCRPS. JHPL has paid to IDBI entire consideration for these shares. IDBI has
issued No Objection Certificate in this regard to NSSL Limited on 19.04.2010.
These OCCRPS have been registered in the name of JHPL on 21.05.2010. These
OCCRPS are to be redeemed on or before 31st March, 2011.
AS ON 13.08.2011
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 |
|
|
|
|
|
|
18774072 |
Equity Shares |
Rs.10/- each |
Rs. 187.741
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
108.184 |
99.104 |
99.104 |
|
|
2] Share Application Money |
269.600 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
367.792 |
275.486 |
211.874 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
745.576 |
374.590 |
310.978 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
771.504 |
437.677 |
527.912 |
|
|
2] Unsecured Loans |
160.685 |
81.900 |
68.969 |
|
|
TOTAL BORROWING |
932.189 |
519.577 |
596.881 |
|
|
DEFERRED TAX LIABILITIES |
113.444 |
102.108 |
75.114 |
|
|
|
|
|
|
|
|
TOTAL |
1791.209 |
996.275 |
982.973 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
694.963 |
492.055 |
482.005 |
|
|
Capital work-in-progress |
405.609 |
73.028 |
60.301 |
|
|
|
|
|
|
|
|
INVESTMENT |
31.562 |
23.005 |
23.440 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
305.006
|
296.587
|
256.564 |
|
|
Sundry Debtors |
418.917
|
334.553
|
228.026 |
|
|
Cash & Bank Balances |
65.490
|
21.127
|
17.606 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
198.147
|
132.965
|
112.635 |
|
Total
Current Assets |
987.560
|
785.232 |
614.831 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
222.094
|
288.883 |
135.203 |
|
|
Other Current Liabilities |
18.303
|
19.952
|
15.077 |
|
|
Provisions |
88.088
|
68.210
|
47.324 |
|
Total
Current Liabilities |
328.485
|
377.045 |
197.604 |
|
|
Net Current Assets |
659.075
|
408.187
|
417.227 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1791.209 |
996.275 |
982.973 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1325.334 |
1324.153 |
1093.770 |
|
|
|
Other Income |
5.734 |
3.158 |
6.689 |
|
|
|
TOTAL (A) |
1331.068 |
1327.311 |
1100.459 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
839.818 |
870.354 |
722.532 |
|
|
|
Manufacturing Expenses |
106.038 |
100.863 |
91.811 |
|
|
|
Remuneration and benefits to employees and Others |
108.919 |
103.980 |
78.933 |
|
|
|
Administrative, Selling and Other Expenses |
94.092 |
84.016 |
72.423 |
|
|
|
Increase/ Decrease in Stock |
(12.213) |
(22.453) |
(51.151) |
|
|
|
TOTAL (B) |
1136.654 |
1136.760 |
914.548 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
194.414 |
190.551 |
185.911 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
70.302 |
63.394 |
39.781 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
124.112 |
127.157 |
146.130 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.652 |
32.542 |
24.422 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
90.460 |
94.615 |
121.708 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.705 |
29.303 |
55.979 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
68.755 |
65.312 |
65.729 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
201.436 |
137.820 |
74.964 |
|
|
|
|
|
|
|
|
|
|
Prior Period Items |
(11.162) |
(0.093) |
(1.285) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Preference Share Dividend |
1.375 |
1.375 |
1.375 |
|
|
|
Tax on Dividend |
0.234 |
0.228 |
0.213 |
|
|
BALANCE CARRIED
TO THE B/S |
257.420 |
201.436 |
137.820 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
63.197 |
21.669 |
24.232 |
|
|
|
Recovery of Freight |
0.142 |
0.481 |
0.598 |
|
|
TOTAL EARNINGS |
63.339 |
22.150 |
24.830 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5.645 |
33.729 |
7.328 |
|
|
|
Capital Goods |
41.113 |
50.079 |
7.229 |
|
|
TOTAL IMPORTS |
46.758 |
83.808 |
14.557 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.38 |
8.91 |
8.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.17
|
4.92 |
5.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.83
|
7.14 |
11.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.38
|
7.41 |
11.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.25 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.84
|
2.67 |
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.01
|
2.08 |
3.11 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
(Rs. in millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditor |
|
|
|
|
Micro, Small and
Medium Enterprises |
6.935 |
1.127 |
23.077 |
|
Others |
215.159 |
287.756 |
112.126 |
|
Total |
222.094 |
288.883 |
135.203 |
NOTE:
The registered office of the company has been shifted from 105-106, Light Industrial Area, Bhilai – 490 026, Chattisgarh, Madhya Pradesh to the present address w.e.f. 20.06.2006.
WORKING AND FUTURE PROSPECTS
During the year,
the Company has shown increase in the Net Turnover from Rs. 1324.153 Millions
in the year 2008-09 to Rs. 1325.334 Millions in the year 2009-10, as a result
the Company has achieved a profit of Rs. 68.755 Millions as compared to
Rs.65.312 Millions in the previous year.
In order to enhance
its presence in ferrous valves segment, the company is making expansion plan
and for the purpose the Company has started the work on the proposed FVD Plant
situated at Nagpur to enhance its manufacturing capacity by three fold from its
existing capacity and due to which the turnover of the Company is expected to
increase by two times from its present turnover by 2012-2013.
Subject is the
leading manufacturer and exporter of valves and stands as one of the largest
plants of its kind in India. The unit with constant efforts, dedication and
with the help of experienced technical personnel is now manufacturing
Industrial Valves as large as 80" in size and pressure class up to ANSI
2500 psi in Cast Carbon Steel, Stainless Steel, Alloy Steels and Duplex - Super
Duplex material for different applications. The valves manufactured in the unit
are being used in the Core Sector projects and replacements. The clientele both
in Government and in Non-Government Sectors are very wide. The encouragement
extended by the prestigious customers in the field of Oil, Gas, Energy,
Refinery, Fertilizer, Steel Sectors, Water De- salination plants, Power Plants
and Nuclear Plants have helped the unit to develop and market products which
are of import substitute nature, such as valves for CRYO application, Valves
for SOUR GAS application (NACE Standard as per MR-01-75) valves for Hydrogen
Service, Oxygen Service, Seismic Service and CNG Service.
The Company is
mainly concentrating on manufacturing and testing of Cryogenic and Seismic
valves in-house. In its move to pave the footprint in the Global Market, the
Company has bag an order from Saudi Aramco for manufacturing Inconel 825
cladded valves.
The Company has
exported valves to Kuwait, Saudi Arabia, UAE, Jordan, Israel, South Africa, The
Netherlands, UK, Germany etc. and The Directors of the Company are hopeful of
better performance in terms of more exports in the Coming years.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
a. Guarantees given by the company’s Bankers (Bank Guarantee are
provided under Contractual Bankers) |
67.747 |
|
b. Letter of Credit opened (Cash flow is expected on receipt of
material) |
108.077 |
|
c. Disputed Excise Duty (Pre-payment made for admission of appeal Rs.1.233 millions. No
further cash flow is expected in near future) |
63.753 |
|
e. Corporate Guarantee (Given to Bank against the borrowings taken by
Subsidiary Company) |
28.209 |
|
e. Disputed Sales Tax (Pre-payment made for admission of appeal Rs.
0.305 million. No further cash flow is expected in near future) |
53.641 |
FORM 8
|
Corporate
identity number of the company |
U27310MH1981PLC163100 |
|
Name of the
company |
NSSL LIMITED |
|
Address of the registered
office or of the principal place of
business in |
F-8, MIDC
Industrial Area, Hingna Road, Nagpur-440016, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State
Bank of India, Industrial Finance Branch No.5, Sai Complex, Bharat Nagar,
Amravati Road, Post Box No.401, Nagpur – 440 010, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of mortgage
executed on 03.12.2011 by deposit of title deeds recorded by state bank of
India for self and on behalf of union bank of India and Sicom Limited. |
|
Date of
instrument Creating the charge |
03.12.2011 |
|
Amount secured by
the charge |
Rs. 2049.600
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per agreement Terms of repayment As per agreement Margin As per agreement Extent and operation of the charge Extension of
First charge on entire fixed assets of the company at T-44 and T-45 |
|
Short particulars
of the property charged (Including location of the property) |
Entire fixed
assets of the company located at plot no T-44 and T-45, admeasuring 8220 sq
mts and 11540 sq mts respectively at MIDC, Hingna Nagpur Entire fixed
assets of the company located at plot no T-40 admeasuring 23015 sq mts and
Extension of EM of leasehold land at plot
no T-40, MIDC Hingna Nagpur, in the name of Nagpur Fasteners Industries
Private Limited |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
|
If yes, in whose
name it is registers |
Nagpur Fasteners
Industries Private Limited |
|
Charge identification
number of the charge to be modified |
10038586 |
|
Date of
instrument modifying the charge |
28.09.2011 |
|
Particulars of
the present modification |
The charge on
immovable assets of the company at plot no T-44-T45, Hingna MIDC Nagpur is now
modified to secure the aggregate Limit of Rs. 2049.600 Millions including
letter of comfort limit of Rs. 340.000 Millions from SBI. |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixture
·
Computer
·
Vehicles
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. 49.94 |
|
|
1 |
Rs. 78.25 |
|
Euro |
1 |
Rs. 65.39 |
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.