MIRA
INFORM REPORT
|
Report Date : |
29.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
HIGH STREET FASHIONS PRIVATE LIMITED |
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|
|
|
Formerly Known
As : |
HIGH STREET FASHION LIMITED |
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Registered
Office : |
B – 17, Bais Godam Industrial Area, Jaipur-302006, Rajasthan |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
01.06.2000 |
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|
Com. Reg. No.: |
17-016452 |
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Capital
Investment / Paid-up Capital : |
Rs. 102.255 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74994RJ2000PTC016452 |
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|
|
|
IEC No.: |
1300007770 |
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|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
JPRH02172C |
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PAN No.: [Permanent Account No.] |
AAACH8656A |
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|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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|
Line of Business
: |
Manufacturer and Exporters of Socks
for Men, Ladies, Children and Babies. Wrist Bands and Head Band |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 780000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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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. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
B – 17, Bais Godam Industrial Area, Jaipur-302006, |
|
Tel. No.: |
91-141-2214065 / 2211658 / 2214074 |
|
Fax No.: |
91-141-2212984 |
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E-Mail : |
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|
Website : |
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Head Office / Factory 1 : |
B – 17and B – 18, 22 Godown Industrial Estate, Jaipur – 302 006, |
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Factory 2: |
B- 3 and B – 4, 22 Godown Industrial Estate, Jaipur – 302 006, |
|
Tel. No.: |
91-141-2214065, 2214074, 2211658 |
|
Fax No.: |
91-141-2212984 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Moti Lal Baid |
|
Designation : |
Director |
|
Address : |
K-15, Nalviya Marg, ‘C’ Scheme Jaipur, Rajasthan, India |
|
Date of Birth/Age : |
20.12.1934 |
|
Date of Appointment : |
29.01.2003 |
|
DIN No.: |
00051056 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74994RJ2000PTC016452 |
HIGH
STREET FASHIONS PRIVATE LIMITED |
Director |
29-01-03 |
29-01-03 |
- |
Active |
NO |
|
2 |
U31300RJ1991PTC006181 |
CABTECH
INDIA PRIVATE LIMITED |
Director |
20-07-06 |
20-07-06 |
21-10-08 |
Active |
NO |
|
3 |
U55101RJ2008PTC027471 |
NEETA
RESORTS AND SPA PRIVATE LIMITED |
Director |
29-09-08 |
29-09-08 |
- |
Active |
NO |
|
4 |
U55101RJ2010PTC031257 |
GOLDEN
GIRL RESORTS PRIVATE LIMITED |
Director |
17-03-10 |
17-03-10 |
- |
Active |
NO |
|
Name : |
Mrs. Neeta Sethia |
|
Designation : |
Director |
|
Address : |
K-15, Nalviya Marg, ‘C’ Scheme Jaipur, Rajasthan, India |
|
Date of Birth/Age : |
14.05.1960 |
|
Date of Appointment : |
01.04.2001 |
|
DIN No.: |
00051088 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74994RJ2000PTC016452 |
HIGH
STREET FASHIONS PRIVATE LIMITED |
Director |
01-04-01 |
01-04-01 |
- |
Active |
NO |
|
2 |
U31300RJ1991PTC006181 |
CABTECH
INDIA PRIVATE LIMITED |
Director |
29-12-02 |
29-12-02 |
30-09-08 |
Active |
NO |
|
Name : |
Mrs. Padmini Palod |
|
Designation : |
Director |
|
Address : |
K-15, Nalviya Marg, ‘C’ Scheme Jaipur, Rajasthan, India |
|
Date of Birth/Age : |
17.05.1969 |
|
Date of Appointment : |
01.11.2002 |
|
DIN No.: |
00059564 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74994RJ2000PTC016452 |
HIGH
STREET FASHIONS PRIVATE LIMITED |
Director |
01-11-02 |
01-11-02 |
- |
Active |
NO |
|
2 |
U31300RJ1991PTC006181 |
CABTECH
INDIA PRIVATE LIMITED |
Director |
03-01-03 |
03-01-03 |
08-09-08 |
Active |
NO |
|
3 |
U55101RJ2008PTC027471 |
NEETA
RESORTS AND SPA PRIVATE LIMITED |
Director |
29-09-08 |
29-09-08 |
17-03-11 |
Active |
NO |
|
4 |
U36911RJ2009PTC029333 |
ASHINI
SILGOLD PRIVATE LIMITED |
Director |
09-07-09 |
09-07-09 |
- |
Active |
NO |
|
5 |
U17119RJ2009PTC029457 |
ASHINI
TEXFAB PRIVATE LIMITED |
Director |
27-07-09 |
27-07-09 |
- |
Active |
NO |
|
6 |
U51102RJ2010PTC031259 |
JETHMAL
SHREECHAND TRADING PRIVATE LIMITED |
Director |
18-03-10 |
18-03-10 |
- |
Active |
NO |
|
Name : |
Mr. Vinit Chopda |
|
Designation : |
Director |
|
Address : |
550, Main Road, Sadar Bajar, Raipur-492001, Chhattisgarh, India |
|
Date of Birth/Age : |
12.12.1980 |
|
Date of Appointment : |
14.11.2009 |
|
DIN No.: |
01536099 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U67120CT2006PTC018631 |
JINDUTT
SECURITIES (INDIA) PRIVATE LIMITED |
Director |
01-05-06 |
01-05-06 |
- |
Active |
NO |
|
2 |
U27205MH2006PTC164981 |
AADINATH
GEMS AND JEWELLERS PRIVATE LIMITED |
Director |
28-09-06 |
28-09-06 |
- |
Active |
NO |
|
3 |
U74994RJ2000PTC016452 |
HIGH
STREET FASHIONS PRIVATE LIMITED |
Director |
14-11-09 |
14-11-09 |
- |
Active |
NO |
|
4 |
U51101MH2011PTC220603 |
AADINATH
GLOBAL PRIVATE LIMITED |
Director |
05-08-11 |
05-08-11 |
08-11-11 |
Active |
NO |
|
5 |
U13203MH2011PTC222528 |
AADINATH
BULLION AND MINING PRIVATE LIMITED |
Director |
29-09-11 |
29-09-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Ms. Ritu Lavaniya |
|
Designation : |
Secretary |
|
Address : |
161, Milap Nagar, Near Tank Road, Jaipur-302018, Rajasthan, India |
|
Date of Birth/Age : |
06.09.1982 |
|
Date of Appointment : |
01.08.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Divya Sethia |
619800 |
|
Neeta Sethia |
3911200 |
|
Motilal Bais |
3541700 |
|
Prachi Sethia |
142800 |
|
Aishwarya Sethia |
120300 |
|
Cabitech India Private Limited, India |
621700 |
|
The Techmech India, India |
225 |
|
Padmini Palod |
15000 |
|
Alanknt Vyapar Private Limited, India |
150 |
|
Giriraj Commercial Private Limited, India |
150 |
|
Raccop Gniya |
225 |
|
Anglaa Trading Private Limited, India |
225 |
|
Alpha Chemi Trade Private Limited, India |
150 |
|
Empress Associates Private Limited, India |
1 |
|
D S Consultancy and Holding Private Limited, India |
1 |
|
Seta Ram Investment Limited, India |
1 |
|
Swam Puspa Vaniya Private Limited, India |
75 |
|
Vinit Kumar Chopda |
7500 |
|
Dhan Kuber Infra Private Limited, India |
156700 |
|
Raj Kumar Sethia |
782300 |
|
Dulichand Jethmal Trading Private Limited, India |
215000 |
|
Neeta Resorts and Spa Private Limited, India |
90000 |
|
Laxman Rai |
297 |
|
TOTAL |
10225500 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
10.60 |
|
Directors or relatives of Directors |
89.39 |
|
Other top fifty shareholders |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, trader, dealers, distributors
and exporters of Socks for Men, Ladies, Children and Babies. Wrist Bands and
Head Band |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Knittec Socks |
Pairs |
370000 |
2458155 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· State Bank of India, Industrial Estate, Jaipur South, Jaipur-302006, Rajasthan, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
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|
Name : |
A. Nathani and Company Chartered Accountant |
|
Address : |
Room No. 7, Second Floor, Samod Tower, Dadu Bagh, S C Road, Jaipur – 302 001, Rajasthan, India |
|
Tel. No.: |
91-141-2370994 |
|
Pan No.: |
AAPFA4438J |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10500000 |
Equity Shares |
Rs.10/- each |
Rs. 105.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10225500 |
Equity Shares |
Rs.10/- each |
Rs. 102.255 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 |
102.255 |
98.285 |
49.030 |
|
|
2] Share Application Money |
0.002 |
0.002 |
0.002 |
|
|
3] Reserves & Surplus |
92.979 |
87.165 |
48.579 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
195.236 |
185.452 |
97.611 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
68.776 |
51.341 |
54.265 |
|
|
2] Unsecured Loans |
23.462 |
19.995 |
12.530 |
|
|
TOTAL BORROWING |
92.238 |
71.336 |
66.795 |
|
|
DEFERRED TAX LIABILITIES |
2.251 |
2.208 |
2.224 |
|
|
|
|
|
|
|
|
TOTAL |
289.725 |
258.996 |
166.630 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
152.345 |
138.030 |
125.222 |
|
|
Capital work-in-progress |
88.443 |
87.687 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.003 |
0.003 |
0.003 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
35.233
|
33.061 |
31.982 |
|
|
Sundry Debtors |
24.580
|
22.272 |
12.838 |
|
|
Cash & Bank Balances |
2.463
|
4.207 |
3.140 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
44.195
|
40.564 |
4.524 |
|
Total
Current Assets |
106.471
|
100.104 |
52.484 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
59.000
|
66.640 |
7.391 |
|
|
Other Current Liabilities |
0.004
|
0.236 |
2.253 |
|
|
Provisions |
1.850
|
1.652 |
1.797 |
|
Total
Current Liabilities |
60.854
|
68.528 |
11.441 |
|
|
Net Current Assets |
45.617
|
31.576 |
41.043 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
3.317 |
1.700 |
0.362 |
|
|
|
|
|
|
|
|
TOTAL |
289.725 |
258.996 |
166.630 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
100.391 |
100.288 |
95.989 |
|
|
|
Other Income |
0.217 |
0.253 |
7.793 |
|
|
|
TOTAL (A) |
100.608 |
100.541 |
103.782 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
78.569 |
79.458 |
81.339 |
|
|
|
Increase / (Decrease) in Finished Stock |
(2.813) |
(0.620) |
|
|
|
|
TOTAL (B) |
75.756 |
78.838 |
81.339 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
24.852 |
21.703 |
22.443 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.007 |
8.627 |
9.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.845 |
13.076 |
13.410 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.523 |
8.036 |
8.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.322 |
5.040 |
4.754 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.019 |
1.788 |
1.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.303 |
3.252 |
3.098 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.32 |
0.33 |
0.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.28
|
3.23 |
2.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.30
|
5.03 |
4.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.06
|
2.12 |
2.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.03 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.80
|
0.77 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.46 |
4.59 |
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 |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
No |
|
9. Name of person contacted |
No |
|
10. Designation of contact person |
No |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
------- |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
FORM 8
|
Corporate
identity number of the company |
U74994RJ2000PTC016452 |
|
Name of the
company |
HIGH STREET
FASHIONS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
B – 17, Bais Godam Industrial Area, Jaipur-302006, Rajasthan, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Any interest
in immovable property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
State Bank of India, Industrial Estate, Jaipur South, Jaipur-302006, Rajasthan, India |
|
Nature of
instrument creating charge |
Letter of
Confirmation for creation of mortgage by deposit of Title Deeds (Three) |
|
Date of
instrument Creating the charge |
19.11.2010 |
|
Amount secured by
the charge |
Rs. 40.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest to be
charged @5.25%margin above base rate which is presently 7.50% p.a. present
effective rate 12.75% p.a. chargeable monthly subject to change from time to
time. Terms of repayment Repayable on
demand. Margin Stock 25 % Receivables
(cover 105 days) 30% Extent and operation of the charge The charge
operates on first charge basis. Other Working Capital
Limit of Rs. 40.500 Millions sanctioned, Detailed as Cash Credit
(Hypothecation/Book Debts) Rs.35.000 Millions Bank
Guarantee
Rs.5.500 Millions Total Rs
40.500 Millions Term Loan also
sanctioned as follows Term Loan -
I Rs.16.500 Millions Separate
charge filed Term Loan - II
Rs. 23.000 Millions Separate charge filed Total
Exposure Rs.80.000 Millions |
|
Short particulars
of the property charged (Including location of the property) |
First and
exclusive hypothecation charge on entire current assets including stock of
raw materials, stores and spares, stock in process, finished goods present
and future . First and
exclusive hypothecation charge on entire present and future Book Debts,
receivables, clean or Documentary bills of the company. Exclusive first
charge on fixed assets of the company created or to be created out of banks
finance. Equitable
Mortgage created on entire land and building situated at Plot No. B -3 (223
square meters), Bais Godam, Industrial Estate ,Jaipur as security on first
charge basis. Equitable
Mortgage created on entire land and building situated at Plot No. B -17
(148.84 square meters),Bais Godam, Industrial Estate ,Jaipur as security on
first charge basis. Equitable
Mortgage created on entire land and building situated at Plot No. B - 4 (218
square meters), Bais Godam, Industrial Estate, Jaipur as security on first
charge basis. |
|
Charge
identification number of the charge to be modified |
10248452 |
|
Particulars of the
present modification |
Equitable
Mortgage created on entire land and building situated at 1) Plot No. B -3
(223 square meters), Bais Godam , Industrial Estate ,Jaipur 2) Plot No. B -17
(148.84 square meters), Bais Godam, Industrial Estate, Jaipur 3) Plot No. B -
4 (218 square meters), Bais Godam, Industrial Estate, Jaipur as security on
first charge basis. |
FIXED
ASSETS
·
Land
·
Plant and Machinery
·
Electric Installations
·
Furniture and Fixtures
·
Lift
·
Car
·
Air Conditioners
·
Cycle
·
Fax Machine
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. 55.26 |
|
|
1 |
Rs. 86.80 |
|
Euro |
1 |
Rs. 69.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.