|
Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUD CHEMIE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Edayar Industrial Development Area, Binanipuram P O Aluva,
Ernakulam-683502, Kerala |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.02.1969 |
|
|
|
|
Com. Reg. No.: |
09-002217 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.623
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299KL1969PTC002217 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Catalysts and Catalytic Converters. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 9900000 |
|
|
|
|
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 good for normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA- (Long Term Rating) |
|
Rating Explanation |
High degree of safety. It Carry very low credit risk |
|
Date |
17.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+(Short Term Rating) |
|
Rating Explanation |
Very strong degree of safety. It carry lowest credit risk |
|
Date |
17.09.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Factory 1 : |
Edayar Industrial Development Area, Binanipuram P O Aluva,
Ernakulam-683502, Kerala, India |
|
Tel. No.: |
91-484-6646000 (30 Lines) |
|
Fax No.: |
91-484-6646099 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
A-1/2/3, Nandesari Industrial Area, Nandesari, Vadodara-391340,
Gujarat, India |
|
Tel. No.: |
91-265-2840325 / 366 / 548 |
|
Fax No.: |
91-265-2840622 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
AU Anton Von Gunter |
|
Designation : |
Chairman |
|
Address : |
Moosbrunner Str 3284489,
Burghausen, Germany |
|
Date of Birth/Age : |
31.07.1951 |
|
Date of Appointment : |
10.03.2009 |
|
Din No.: |
02871259 |
|
|
|
|
Name : |
Ms. Arshia Altaf Lalljee |
|
Designation : |
Managing Director |
|
Address : |
24 Aradhana enclave, Ground Floor, RK Puram, |
|
Date of Birth/Age : |
05.02.1960 |
|
Date of Appointment : |
19.03.1985 |
|
Din No.: |
00334804 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24233DL2000PTC108513 |
LIFECARE
INNOVATIONS PRIVATE LIMITED |
Director |
13/11/2000 |
13/11/2000 |
Active |
NO |
|
2 |
U45201DL2004PTC130267 |
RED
RESPECT ESTATES PRIVATE LIMITED |
Director |
29/10/2004 |
29/10/2004 |
Active |
NO |
|
3 |
U24299KL1969PTC002217 |
SUD
CHEMIE INDIA PRIVATE LIMITED |
Managing
director |
10/07/2006 |
10/07/2006 |
Active |
NO |
|
Name : |
Mr. Iskander Altaf Lalljee |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 1611-A, Beverly Park II, |
|
Date of Birth/Age : |
27.07.1962 |
|
Date of Appointment : |
13.04.1994 |
|
Din No.: |
00334845 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24233DL2000PTC108513 |
LIFECARE
INNOVATIONS PRIVATE LIMITED |
Director |
13/11/2000 |
13/11/2000 |
Active |
NO |
|
2 |
U45201DL2004PTC130267 |
RED
RESPECT ESTATES PRIVATE LIMITED |
Director |
29/10/2004 |
29/10/2004 |
Active |
NO |
|
3 |
U24299KL1969PTC002217 |
SUD
CHEMIE INDIA PRIVATE LIMITED |
Managing
director |
10/07/2006 |
10/07/2006 |
Active |
NO |
|
Name : |
Hans Joachim Mueller |
|
Designation : |
Director |
|
Address : |
Westring 31, 67279 Grunstadt, Germany |
|
Date of Birth/Age : |
18.04.1959 |
|
Date of Appointment : |
18.01.2002 |
|
Din No.: |
00422662 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24299KL1969PTC002217 |
SUD
CHEMIE INDIA PRIVATE LIMITED |
Director |
11/03/2009 |
18/01/2002 |
Active |
NO |
|
Name : |
Mr. Viktor Bernhardt |
|
Designation : |
Director |
|
Address : |
Saalestrasse 14, D-81677, |
|
Date of Birth/Age : |
07.02.1971 |
|
Date of Appointment : |
03.11.2006 |
|
Din No.: |
00908890 |
|
|
|
|
Name : |
Ms. Hamida Altaf Lalljee |
|
Designation : |
Whole Time Director |
|
Address : |
188 A, Jorbagh, Ground Floor, |
|
Date of Birth/Age : |
02.01.1929 |
|
Date of Appointment : |
21.01.1982 |
|
Din No.: |
00334903 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24233DL2000PTC108513 |
LIFECARE
INNOVATIONS PRIVATE LIMITED |
Director |
16/12/2000 |
16/12/2000 |
Active |
NO |
|
2 |
U24299KL1969PTC002217 |
SUD
CHEMIE INDIA PRIVATE LIMITED |
Whole-time
director |
14/10/2005 |
14/10/2005 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. John E Varghese |
|
Designation : |
Secretary |
|
Address : |
Ashiana, Vikas Nagar, South Kalamassery, Ernakulam – 682 022, |
|
Date of Birth/Age : |
01.12.1953 |
|
Date of Appointment : |
02.05.1990 |
|
Pan No.: |
ABPPJ8508C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sud Chemie AG |
481140 |
|
Hamida Altaf Lalljee |
276960 |
|
Fazal Hooseinbhoy Lalljee |
420 |
|
Hamida Altaf Lalljee |
69720 |
|
Arshia Altaf Lalljee |
54460 |
|
Iskander Altaf Lalljee |
54720 |
|
Halima Hooseinbhoy Lalljee |
220 |
|
Rookiya Hooseinbhoy Lalljee |
8320 |
|
Zahid Hanees Lalljee |
16320 |
|
TOTAL
|
962280 |
AS ON 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
50.00 |
|
Directors
or relatives of directors |
50.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Catalysts and Catalytic Converters. |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Catalyst |
MT |
6550.000 |
5370.949 |
|
Catalytic Converter |
MT |
1800000 |
1346073 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Travancore, SME Branch, P.B. No. 104,
Holy Angels Building, South Kalamassery, District Ernakulam-683104, Kerala,
India ·
State Bank of India, Overseas Branch, Willingdon
Island, Cochin, Ernakulam-682003, Kerala, India ·
Federal Bank Limited, Broadway, Ernakulam-682031,
Kerala, India ·
Canara Bank,
Mumbai, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Varma and Varma Chartered Accountants |
|
Address : |
Sriniketan, Nettepadam Road, Kochi-682016, Kerala, India |
|
Pan No.: |
ABDPG5871F |
|
|
|
|
Co-Venture : |
·
Hooseinbhoy A. Lalljee Sons and Company ·
Süd-Chemie AG, Germany |
|
|
|
|
Companies under
common control: |
·
Süd-Chemie A. G., Germany ·
Süd-Chemie Inc., USA ·
Süd-Chemie Catalyst Japan Inc., Japan ·
Süd-Chemie South East Asia Pte. Limited,
Singapore ·
Süd Chemie Catalysts Italia S.r.l., Italy ·
Süd-Chemie Australia Pty Limited, Australia ·
P. T. Süd-Chemie Indonesia, Indonesia ·
P. T. Kujang Süd-Chemie Catalysts, Indonesia ·
Ashland-Süd-Chemie-Kernfest GmbH ·
Süd-Chemie Qatar W.L.L. ·
Shanghai Süd-Chemie Catalysts Company Limited,
China ·
Süd-Chemie Alvigo Catalysts LLC, Russia ·
Süd-Chemie Adsorbents Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
962280 |
Equity Shares |
Rs.10/- each |
Rs.9.623
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 |
9.623 |
9.623 |
9.623 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2468.373 |
1843.575 |
1420.637 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2477.996 |
1853.198 |
1430.260 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
87.242 |
35.530 |
188.730 |
|
|
2] Unsecured Loans |
5.613 |
7.063 |
8.517 |
|
|
TOTAL BORROWING |
92.855 |
42.593 |
197.247 |
|
|
DEFERRED TAX LIABILITIES |
55.151 |
51.625 |
31.103 |
|
|
|
|
|
|
|
|
TOTAL |
2626.002 |
1947.416 |
1658.610 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
647.280 |
548.807 |
408.073 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
86.526 |
|
|
|
|
|
|
|
|
INVESTMENT |
707.776 |
334.475 |
0.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
799.305
|
634.395 |
673.599 |
|
|
Sundry Debtors |
610.327
|
549.989 |
581.085 |
|
|
Cash & Bank Balances |
255.201
|
244.834 |
186.133 |
|
|
Other Current Assets |
63.797
|
17.924 |
60.735 |
|
|
Loans & Advances |
217.485
|
185.025 |
62.979 |
|
Total
Current Assets |
1946.115
|
1632.167 |
1564.531 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
176.022
|
137.456 |
157.845 |
|
|
Other Current Liabilities |
475.941
|
77.390 |
72.943 |
|
|
Provisions |
23.206
|
353.187 |
169.832 |
|
Total
Current Liabilities |
675.169
|
568.033 |
400.620 |
|
|
Net Current Assets |
1270.946
|
1064.134 |
1163.911 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2626.002 |
1947.416 |
1658.610 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Contribution From Manufacturing Operations |
1217.650 |
1414.970 |
1304.480 |
|
|
|
Contribution From Trading Operations |
35.480 |
18.290 |
102.510 |
|
|
|
Other Income |
129.340 |
149.560 |
47.050 |
|
|
|
TOTAL (A) |
1382.470 |
1582.820 |
1454.040 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative and Selling Expenses |
382.770 |
367.660 |
418.760 |
|
|
|
R and D Expenses |
43.900 |
38.080 |
38.460 |
|
|
|
TOTAL (B) |
426.670 |
405.740 |
457.220 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
955.800 |
1177.080 |
996.820 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.860 |
4.750 |
18.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
952.940 |
1172.330 |
978.440 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
67.870 |
58.900 |
44.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
885.070 |
1113.430 |
933.840 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
260.280 |
390.330 |
312.530 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
624.790 |
723.100 |
621.310 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.010 |
35.830 |
71.470 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
257.410 |
91.400 |
|
|
|
Dividend Tax Thereon |
0.000 |
42.750 |
15.500 |
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1910.215 |
2287.825 |
NA |
|
|
|
Agency Commission |
5.693 |
46.270 |
NA |
|
|
TOTAL EARNINGS |
1915.908 |
2334.095 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
573.664 |
755.810 |
NA |
|
|
|
Purchase for Trading |
67.974 |
254.007 |
NA |
|
|
|
Equipment |
17.343 |
6.966 |
NA |
|
|
|
Stores and Spares |
0.821 |
1.794 |
NA |
|
|
TOTAL IMPORTS |
659.802 |
1018.577 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
649.29 |
751.44 |
645.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
45.19
|
45.68 |
42.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
70.63
|
77.69 |
0.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
34.13
|
51.05 |
47.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.60 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.31
|
0.33 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.88
|
2.87 |
3.91 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
PERFORMANCE
REVIEW:
During the year,
sales and profitability were lower compared to the previous year. Sales was
lower by Rs.413.290 millions (12%). Sales to group companies came down by Rs.316.300
millions (22%). Sale to third parties was lower (net) by Rs.96.990 millions
(5%).Out of this, Rs.61.310 millions (63%) was on account of payment related
problem with Iran customers.
Profit before tax
decreased to Rs.885.070 millions from Rs.1113.430 millions in the previous year
(21% reduction). EBIT as percentage of sales came down from 32% to 29%.
Increase in total variable costs of catalysts was about 4.5% (as percentage of
sales). However the variable cost of catcon recorded a reduction of over 4%.
Besides, total fixed overheads increased by about 2%. However its impact on
allocation to products (per MT) was much higher at 10% due to decrease in
production/sales compared to the previous year.
However reduction
in Profit After Tax as percentage of sales was about 1% only (as against
reduction in EBIT of 3%). This was due to lower incidence of tax (surcharge
reduced from 10% to 7.5%) and higher weighted deduction for R and D expenses
(weighted deduction increased from 150% to 200%)
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90019676 |
|
Corporate
identity number of the company |
U24299KL1969PTC002217 |
|
Name of the
company |
SUD CHEMIE INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Edayar Industrial Development Area, Binanipuram P O Aluva,
Ernakulam-683502, Kerala, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of Travancore, SME Branch, P.B. No. 104, Holy Angels
Building, South Kalamassery, District Ernakulam-683104, Kerala, India Email: ssikalama@sbt.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Letter dated
09.02.2012 evidencing extension of equitable mortgage by deposits of title
deeds relating to immovable property of the Company. |
|
Date of
instrument Creating the charge |
09.02.2012 |
|
Amount secured by
the charge |
Rs.480.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
the Bank from time to time. Terms of Repayment
As stipulated by
the Bank from time to time. Margin As stipulated by
the Bank from time to time. Extent and
Operation of the charge Extension of
equitable mortgage by deposit of title deeds relating to immovable property. |
|
Short particulars
of the property charged |
Re. Survey No.
615 and 617, shed No A.1-80:5017 Sq. M and Shed No.A.1-81:5016 Sq. M at
Nandesari Village, Vadodara Taluk, Vadodara District Covered by Lease deed
document number 8629/1988,
8628/1988 8951/1988 of SRO Vadodara. Survey No.
56/3-1,56/3-2, 56/3-3, 56/4, 56/5, 56/6- 1, 56/6-2-1, 56/6-2, 56/6-3, 56/7-1,
56/7 - 2, 56/7-3, 56/8-1,56/8,57/6, 57/7, 57/8, 57/9, 57/10, 58/1, 58/4,
58/5, 59/1, 59/3, 59/5, 59/6 - 1, 64/1, 64/2-1,
64/2-2, 64/2-3, 64/2-4, 1 Acre in Sy. No 64/3-1, 1 Acre in Sy. No
64/3-2,64/3-3, 63/6,63/8-1,63/8 63/8-1-3, 63/9A
and 63/9B. Total Area = 21 Acre 52 Cents at Kadungallor Village, Paravur
Taluk, Ernakulam District. |
|
Date of latest
modification prior to the present modification |
12.01.2012 |
|
Particulars of
the present modification |
By the present
modification, security of equitable mortgage by deposit of title deeds of
immovable properties of the Company has been extended to the loan of
Rs.480.000 Millions. |
FIXED ASSETS:
·
Land (Freehold)
·
Land (Leasehold)
·
Roads and Buildings
·
Plant and Machinery
·
Vehicles
·
Furniture and Fixtures
·
Office equipment
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. 54.11 |
|
|
1 |
Rs. 87.07 |
|
Euro |
1 |
Rs. 70.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.