1. Summary Information
|
|
|
Country |
|
|
Company Name |
ACG ASSOCIATED CAPSULES PRIVATE LIMITED |
Principal Name 1 |
Mr. Ajit Daljit
Singh |
|
Status |
Good |
Principal Name 2 |
Mr. Jasjit Daljit
Singh |
|
|
|
Registration # |
-- |
|
Street Address |
131, Kandivli Industrial Estate, Kandivli
(West), Mumbai- 400067, |
||
|
Established Date |
13.07.1961 |
SIC Code |
-- |
|
Telephone# |
91-22-28682010 (9 Lines)/ 28683268/
30700118/ 19/ 30700105 |
Business Style 1 |
Manufacturers and
Sellers of hard gelatin capsule shells I.P coating on various substracts |
|
Fax # |
91-22-28686152/ 28682514 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
800
(Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.5,691,000 |
Product Name 3 |
-- |
|
Shareholders |
Orind Estate Private Limited, India- 80520 |
Banking |
Standard
Chartered Bank |
|
Public Limited Corp. |
-- |
Business Period |
51 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
A |
|
Related
Company |
|||
|
Relation
Fellow
Subsidiary |
Country
Croatia |
Company
Name |
ACG Lukaps d.o.o., Croatia |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
5,241,653,000 |
Current Liabilities |
2,960,986,000 |
|
Inventories |
256,171,000 |
Long-term Liabilities |
1,129,698,000
|
|
Fixed Assets |
733,044,000 |
Other Liabilities |
23,080,000 |
|
Deferred Assets |
-- |
Total Liabilities |
4,113,764,000 |
|
Invest& other Assets |
2,472,492,000 |
Retained Earnings |
4,583,905,000 |
|
|
|
Net Worth |
4,589,596,000 |
|
Total Assets |
8,703,360,000 |
Total Liab. & Equity |
8,703,360,000 |
|
Total Assets (Previous Year) |
6,935,576,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
4,240,352,000 |
Net Profit |
835,499,000 |
|
Sales(Previous yr) |
3,712,422,000 |
Net Profit(Prev.yr) |
758,877,000 |
MIRA
INFORM REPORT
|
Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ACG ASSOCIATED
CAPSULES PRIVATE LIMITED (w.e.f. 24.06.1985) |
|
|
|
|
Formerly Known
As : |
ASSOCIATED
CAPSULES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
131, Kandivli
Industrial Estate, Kandivli (West), Mumbai – 400 067, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.07.1961 |
|
|
|
|
Com. Reg. No.: |
11-012061 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.691 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1961PTC012061 |
|
|
|
|
TAN No.: [Tax Deduction & Collection Account No.] |
MUMA18885G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4769K |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and
Sellers of hard gelatin capsule shells I.P coating on various substracts and
lamination printed / unprinted films / sheets of PVC, PP and other materials. |
|
|
|
|
No. of Employees
: |
800
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 18358000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and reputed 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.
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Vijay Kumar |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-30700108 |
LOCATIONS
|
Registered Office : |
131, Kandivli
Industrial Estate, Kandivli (West), Mumbai- 400067, |
|
Tel. No.: |
91-22-28682010 (9
Lines)/ 28683268/ 30700118/ 19/ 30700105 |
|
Mobile No.: |
91-9870662092 (Mr. Mahendra - Accounts Manager) |
|
Fax No.: |
91-22-28686152/
28682514/ 28684515/ 28603164 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4933 sq. mtrs. |
|
Location : |
Owned |
|
|
|
|
Corporate Headquarters : |
10th
Floor, Dalamal House, Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-22872557/
58/ 59/ 22880461/ 2/ 3/ 22856666 |
|
Fax No.: |
91-22-22872560 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Scitech Centre 7,
Prabhat Nagar, Patel Estate, Jogeshwari (West), Mumbai – 400 102, |
|
Tel. No.: |
91-22-26789642/
43-45 |
|
|
|
|
Factory 1 : |
Village
Shindewadi, Shirwal, Taluka Khandala, District Satara, |
|
|
|
|
Factory 2 : |
Village Aswe,
Ashagadh, |
|
|
|
|
Factory 3 : |
Gat 222, Village Mahalunge
Talegaon, |
|
|
|
|
Regional Office : |
310, |
|
Tel. No.: |
91-120-4310072 |
|
Fax No.: |
91-120-4310073 |
DIRECTORS
AS ON 10.06.2011
|
Name : |
Mr. Ajit Daljit
Singh |
|
Designation : |
Whole Time
Director |
|
Address : |
1-A, Brighton, |
|
Date of Birth/Age : |
20.11.1941 |
|
Qualification : |
M.A. (CANTAB) and Post Graduation Work at the Harvvard |
|
Date of Appointment : |
01.04.2005 |
|
00915347 |
|
|
|
|
|
Name : |
Mr. Jasjit Daljit
Singh |
|
Designation : |
Managing Director |
|
Address : |
2-B, Swapnalok, L.J. Marg, |
|
Date of Birth/Age : |
03.04.1943 |
|
Qualification : |
BE, Mechanical |
|
Date of Appointment : |
01.04.2005 |
|
DIN No : |
00901470 |
|
|
|
|
Name : |
Mr. Karan Jasjit Singh |
|
Designation : |
Director |
|
Address : |
2-B, Swapnalok, L.J. Marg, |
|
Date of Birth/Age : |
23.07.1979 |
|
Qualification : |
Graduate from |
|
Date of Appointment : |
01.04.2005 |
|
DIN No : |
00901342 |
|
|
|
|
Name : |
Mr. Jagmohanlal Chamanlal Chopra |
|
Designation : |
Additional Director |
|
Address : |
4th Floor, 42, Tower B, Jollymaker, A 95-97, |
|
Date of Birth/Age : |
17.11.1933 |
|
Date of Appointment : |
01.10.2006 |
|
DIN No : |
00901556 |
KEY EXECUTIVES
|
Name : |
Mr. Mahendra |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.06.2011
|
Names of Shareholders |
No. of Shares |
|
Jasjit Singh and
Kavita Singh |
244333 |
|
Vijaya Kuverba |
18000 |
|
Jasjit Singh and
Kavita Singh, Jasjit Singh (HUF) |
12765 |
|
Orind Estate
Private Limited, |
580520 |
|
Kavita Singh and
Jasjit Singh |
3780 |
|
Nandini Singh, Jasjit Singh and Kavita Singh |
1980 |
|
Singh Family |
180 |
|
Sardar Daljit
Singh (HUF) |
5580 |
|
MNT Will |
180 |
|
Ajit Singh and
Jasjit Singh |
266998 |
|
Priya Singh,
Jasjit and Kavita Singh |
1980 |
|
Karan Singh
Jasjit Singh and Kavita Singh |
1980 |
|
Total |
1138276 |
AS ON 10.06.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
51.00 |
|
Directors
or relatives of directors |
|
47.42 |
|
Other
top fifty shareholders |
|
1.58 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and
Sellers of hard gelatin capsule shells I.P coating on various substracts and
lamination printed / unprinted films / sheets of PVC, PP and other materials. |
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|
Products : |
|
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|
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Exports : |
|
||||||||||
|
Products : |
Hard gelatin
capsule shells I.P coating on various substracts and lamination printed / unprinted
films / sheets of PVC, PP and other materials. |
||||||||||
|
Countries : |
·
United States America ·
European Countries ·
South African Countries ·
Sri Lanka ·
Bangladesh |
||||||||||
|
|
|
||||||||||
|
Imports : |
|
||||||||||
|
Products : |
Raw Material |
||||||||||
|
Countries : |
·
Germany ·
United States America ·
Japan ·
Netherland |
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
L/C, Credit |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
L/C, Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Empty Hard
Gelatin Capsules shells and HPMC Capsules (In Million Nos.) |
Not Applicable |
48,325 |
43,753 |
GENERAL INFORMATION
|
Customers : |
Manufacturer |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
800
(Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
v
Standard Chartered Bank (acting as Lead Bank
for itself and on behalf of BOI and SBI), 90, v
Bank of v
State Bank of v
ICICI Bank Limited, v
ANZ Grindlays Bank Limited, 90, v ABN Amro Bank v Citi Bank v
Standard
Chartered Bank, 19, Rajaji Salai, Chennai – 600 001, |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Note: 1. Deferred
sales tax loan: Deferred sales tax loan unsecured represents sales tax incentives
availed under package scheme of incentives declared by Government of
Maharashtra repayable from April 2014. 2. Unsecured
loans from directors: Unsecured loans from directors are repayable on demand. 3. Interest
accrued and due : Interest accrued and due from unsecured loans from
directors |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.J. Shah and
Company Chartered
Accountants |
|
Address : |
|
|
Tel. No.: |
91-22-22650834/ 22671269 |
|
Fax No.: |
91-22-22657122 |
|
PAN No : |
AAAFA3818L |
|
|
|
|
Holding Company
: |
Orind Estates Private Limited, EIN No.: U70102MH2010PTC198368 |
|
|
|
|
Wholly Owned
Subsidiaries : |
v
ACG Europe Limited v
ACG Holding B.V., |
|
|
|
|
Fellow
Subsidiary : |
ACG Lukaps d.o.o., |
|
|
|
|
Jointly
Controlled |
v ACG Hongkong
Limited, v
ACG DO v
EH Advisors and Consultants Private Limited
(Formerly Extra Hands) |
|
|
|
|
Companies /
Firms over which the Directors have significant influence or control : |
Companies v ACG Arts and
Properties Private Limited v ACG Pharmapack
Private Limited v Custom Capsules
Private Limited v ACG Real Estate
Private Limited (formerly Trambak Developers Private Limited) v
ACG Inspection Systems Private Limited v ACG Pampac
Machines Private Limited v ACG Pam Pharma
Technologies Private Limited v ACG Korsch
Compression Technologies Private Limited v Pam Glatt Pharma
Technologies Private Limited v Pam Inteck
Machines Private Limited v Scitech Centre v
ACG Ajas Components Private Limited v
Foreign
Companies v PT. Universal
Capsules Indonesia INC v ACG v Universal
Capsules Philippines Inc v Amiricaps v Symtech
International Limited, v First Ventures
Limited, v
Transworld Investments Limited, Firms v Amil Enterprises
(Converted to Subsidiary company, AE Advisors Private Limited) v Aries Components
Mfg and Co v Bulk Buyers v Capsulabs v Centercops v Extra Hands
(converted to subsidiary company EH Advisors and Consultants Private Limited) v Pharmagents v
Reflection |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2400000 |
Equity Shares |
Rs.5/- each |
Rs.12.000
Millions |
|
30000 |
Preference Shares
|
Rs.100/- each |
Rs.3.000 Millions
|
|
|
Total |
|
Rs.15.000
Millions |
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1138276 |
Equity Shares |
Rs.5/- each |
Rs.5.691 Millions |
|
|
|
|
|
1. Paid up equity capital
includes: 42820 shares have been allotted as fully paid up pursuant to a
contact without payment being received in cash. 149342 Shares have been
allotted as fully paid up Bonus Shares by way of Capitalisation of reserves.
802144 shares have been allotted as fully paid up pursuant to the Schemes of
arrangements approved by Honourable High Court. 2. Redemption of preference
shares: During the year early redemption of preference shares at par have been
made, which otherwise have been redeemable on January 05, 2015 at par.
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 |
5.691 |
7.861 |
7.861 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
2] Reserves & Surplus |
4583.905 |
3735.981 |
2978.495 |
|
|
2] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
4589.596 |
3743.842 |
2986.356 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
216.272 |
143.642 |
176.416 |
|
|
2] Unsecured Loans |
913.426 |
638.817 |
415.711 |
|
TOTAL BORROWING
|
1129.698 |
782.459 |
592.127 |
|
|
DEFERRED TAX
LIABILITIES |
23.080 |
33.474 |
26.193 |
|
|
|
|
|
|
|
TOTAL
|
5742.374 |
4559.775 |
3604.676 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
733.044 |
644.306 |
648.868 |
|
|
Capital work-in-progress |
410.521 |
86.484 |
11.181 |
|
|
|
|
|
|
|
|
INVESTMENTS |
2061.008 |
1762.796 |
1231.627 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
256.171
|
218.162 |
221.805 |
|
|
Sundry Debtors |
958.009
|
911.792 |
856.474 |
|
|
Cash & Bank Balances |
58.139
|
77.746 |
43.942 |
|
|
Other Current Assets |
103.979
|
73.054 |
0.000 |
|
|
Loans & Advances |
4121.526
|
3159.311 |
1380.974 |
|
Total
Current Assets |
5497.824
|
4440.065 |
2503.195 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
198.115
|
165.242 |
137.457 |
|
|
Other Current Liabilities |
596.268
|
421.459 |
303.486 |
|
|
Provisions |
2166.603
|
1789.100 |
352.140 |
|
Total
Current Liabilities |
2960.986
|
2375.801 |
793.083 |
|
|
Net Current Assets |
2536.838
|
2064.264 |
1710.112 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.963 |
1.925 |
2.888 |
|
|
|
|
|
|
|
|
TOTAL |
5742.374 |
4559.775 |
3604.676 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
TURNOVER GROSS |
4240.352 |
3712.422 |
3292.099 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT
BEFORE TAX AND EXCEPTIONAL ITEMS |
1200.661 |
1101.159 |
651.938 |
|
|
|
|
|
|
|
|
|
Add |
Profit on |
0.000 |
0.000 |
220.200 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT
BEFORE TAX AND AFTER EXCEPTIONAL ITEMS |
1200.661 |
1101.159 |
872.138 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
365.162 |
342.282 |
294.019 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
835.499 |
758.877 |
578.119 |
|
|
|
|
|
|
|
|
|
Add/(Less) |
Prior Years' Adjustments / Excess (Short) Provision for Tax |
13.817 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1922.955 |
1314.078 |
885.959 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
150.000 |
150.000 |
150.000 |
|
|
|
Capital Redemption Reserves |
2.170 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2620.101 |
1929.955 |
1314.078 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
1615.000 |
1522.760 |
1274.120 |
|
|
|
Interest Income |
|
2.410 |
0.150 |
|
|
|
Other Income-Sale of Trading Material |
|
0.000 |
0.320 |
|
|
TOTAL EARNINGS |
1615.000 |
1525.170 |
1274.590 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
746.14 |
666.69 |
507.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.27 |
21.66
|
20.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.29
|
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.89 |
0.84
|
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86 |
1.87
|
3.16 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
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% |
-- |
|
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 |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
BALANCE SHEET:
The Company had redeemed
the Preference Shares from its Surplus Funds by creating Capital Redemption
Reserve. The Company has its major part of the Expansion of Shirwal Project
under CWIP Stage.
PERFORMANCE:
The overall
performance of Company in Financial Year 2011 has been very encouraging. This
has been achieved through improved Plant Efficiencies, Cost Improvement, higher
Sales Volumes at better price realization over the past year.
ACQUISITION:
They continue to
provide Management and Technical support to their acquisition of Capsule
Manufacturing Company, Lukaps d.o.o., in
CONTINGENT LIABILITIES: (As on 31.03.2011)
v Letters of
Undertaking to Customs towards export obligation against advance license and
EPCG Rs.152.302 millions (excluding interest)
v Bank guarantee
issued by bank on behalf of company Rs.33.950 millions.
v L/C issued to
vendor against import obligation Rs.94.927 millions.
v Guarantees/Counter
Guarantees provided by the company on behalf of others Rs.427.440 millions, as
increased by the applicable interest accrued thereon, commission and all cost,
charges, expenses and other dues as applicable.
v Claim against the
company not acknowledged as debts Rs.67.125 millions.
v
Domestic L/C Bill discounting of Rs.24.370
millions.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24239MH1961PTC012061 |
|
Name of the
company |
ACG ASSOCIATED
CAPSULES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
131, Kandivli
Industrial Estate, Kandivli (West), Mumbai – 400 067, E-Mail: mahendra.phadte@acg-world.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property (not being pledge) |
|
Particular of
charge holder |
Standard
Chartered Bank, 19 Rajaji Salai, Chennai – 600 001, E-Mail: Nilesh.Babar@sc.com |
|
Nature of description
of the instrument creating or modifying the charge |
Unattested
Memorandum of Hypothecation |
|
Date of
instrument Creating the charge |
29.12.2011 |
|
Amount secured by
the charge |
Rs.970.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest/Commission
- As agreed by and with the Bank from time to time. Terms of
Repayment: As agreed by and
with the Bank from time to time Margin: As applicable, if
any Extent and
Operation of the charge: The Bank is
having first exclusive charge on security given by the Company Others: First exclusive
charge on security as specified in Schedule of Agreement has been created in
favour of Bank for the purpose of securing credit facility to the extent of
USD 20 Millions granted to the Company. For the purpose of filing Form 8, the
facility amount equivalent in INR has been calculated at the prevailing
foreign exchange rate i.e. (1 USD = INR 48.50). |
|
Short particulars
of the property charged |
Hypothecation by
way of first exclusive charge over all present and future movable properties
/ machineries of the borrower including those financed by ECB facility of USD
20 Millions including without limitation its movable plant and machinery,
furniture and fitting, equipment, computer hardware, computer software,
machinery spares, tools and accessories and other movables, both whether now
lying loose or in cases or which are now lying or stored in or about or shall
hereafter from time to time during the continuance of the security of these
presents be brought into or upon or be stored or be in or about any or all
the borrower's premises, warehouses, stockyards and godowns or those of the
borrowers agents, affiliates, associates or representatives or at various
worksites or at any up country place or places or wherever else the same may
be or be held by any party including without limitation, the followings -
Expansion Project at Plant situated at Shirwal, Pune, Pitampur SEZ, Indore. |
FIXED ASSETS:
Ø
Land
Ø
Buildings
Ø
Plant
and Machinery
Ø
Vehicles
Ø
Furniture
/ Fixtures
Ø
Speed
Boat
Ø Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.93 |
|
|
1 |
Rs.88.14 |
|
Euro |
1 |
Rs.70.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.