|
Report Date : |
17.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
RACHANA SEEDS INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 9, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.10.2011 |
|
|
|
|
Com. Reg. No.: |
04-067539 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.22.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15142GJ2011PTC067539 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of HPS Ground Nut, Kernels Shell Peanuts, Roasted Seeds
etc. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as a partnership concern during 1985 and
during October 2011 it got converted into a Private Limited. It is having
moderate track. The company has achieved better sales during 2012. Trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered normal for business dealings with some
caution. |
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 |
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Vikaram |
|
Designation : |
Director |
|
Contact No.: |
91-982522278 |
|
Date : |
16.11.2012 |
LOCATIONS
|
Registered Office/ Factory 1: |
Survey No. 9, Rajkot Road, Dolatpara, Junagadh - 362003, Gujarat,
India |
|
Tel. No.: |
91-285-2661727/ 2660484 |
|
Mobile No.: |
91-982522278 (Mr. Vikaram) |
|
Fax No.: |
91-285-2661931 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 Sq.ft. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Dhoraji Road, Near Vinay Solvant, Junagadh - 362003, Gujarat, India |
|
Location : |
Rented |
DIRECTORS
As on: 03.10.2011
|
Name : |
Mr. Vikram Prabhudas Duvani |
|
Designation : |
Director |
|
Address : |
25 Gokul Nagar, Near Lodhia Wadi, Laxmi Nagar, Junagadh – 362001,
Gujarat, India |
|
Date of Birth/Age : |
16.01.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
19.10.2011 |
|
DIN No.: |
03249805 |
|
|
|
|
Name : |
Mrs. Sarojben Prabhudas Duvani |
|
Designation : |
Director |
|
Address : |
25 Gokul Nagar, Near Lodhia Wadi, Laxmi Nagar, Junagadh – 362001,
Gujarat, India |
|
Date of Birth/Age : |
09.03.1935 |
|
Date of Appointment : |
19.10.2011 |
|
DIN No.: |
03302738 |
|
|
|
|
Name : |
Mrs. Avniben Vikrambhai Duvani |
|
Designation : |
Director |
|
Address : |
Parishram Gokul Nagar Society, Behind Junagadh, Gujarat, India |
|
|
|
|
Name : |
Mr. Sunny Vikrambhai Duani |
|
Designation : |
Director |
|
Address : |
Parishram Gokul Nagar Society, Behind Junagadh, Gujarat, India |
|
|
|
|
Name : |
Mr. Dipakbhai Bhailalbhai Kotecha |
|
Designation : |
Director |
|
Address : |
Star Villa, Bungalow No.51, Suryoday Society, Opposite Wockhardt
Hospital, Kalawad Road, Rajkot, Gujarat, India |
|
|
|
|
Name : |
Mr. Vipulbhai Bhailalbhai Kotecha |
|
Designation : |
Director |
|
Address : |
Surya Amrakunj Society, Plot No. 10-B,
Kalawad Road, Rajkot, Gujarat, India
|
|
|
|
|
Name : |
Mr. Haresh Purshottamdas Raithatha |
|
Designation : |
Director |
|
Address : |
B-202, Ramjas Apartment, Devidas Lane, S. V. Road, Borivali (West),
Mumbai, Maharashtra India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 03.10.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vikrambhai Prabhudas Duvani |
|
1000000 |
|
Sarojben Prabhudas Duvani |
|
1000000 |
|
Avniben Vikrambhai Duvani |
|
249600 |
|
Sunny Vikrambhai Duvani |
|
100 |
|
Dipakbhai Bhailalbhai Kotecha |
|
100 |
|
Vipulbhai Bhaylalbhai Kotecha |
|
100 |
|
Hareshbhai Purshottamdas Raithatha |
|
100 |
|
|
|
|
|
Total |
|
2250000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of HPS Ground Nut, Kernels Shell Peanuts, Roasted Seeds
etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Kiran Traders ·
Absortech India Private Limited, Chennai ·
Akash Proteins-Junagadh ·
Aman Suraj Agro Produce Brokers Private Limited,
Challakere ·
Amardeep Enterprises Maktupur ·
Amin Tranport Junagadh ·
Archana Automation ·
Bhagwati Seeds Kuvadava ·
Bhanu Brokers Junagadh ·
Bharat Traders Junagadh ·
B T Traders Junagadh ·
Buhler India Private Limited, Bangalore ·
Commodity Impex - Mumbai ·
Dalai Dilipkumar Dhirajlal Mehta-Jamnagar ·
Dalai J. J. and Company - Junagadh ·
Dalai Mahendrakumar Liladhar Junagadh ·
Dalai Maheshbhai Liladhar Junagadh ·
Dalai Nalinkumar Bhagvanji - JND ·
Dalai Pareshbhai Liladhar Junagadh ·
Ekta Enterprise- Mangrol ·
Essen Multipacks Limited, Rajkot ·
Fagun D Parikh Mumbai ·
First Flight Couriers Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers ·
Aditya Birla ·
Druzhkovskaya Pishevkusovaya Fabrika Limited
Ukraine ·
Dana Fruits Limited - Russia ·
Mcken Sales International Corporation-
Philippines ·
Novaro Export Corporation - Panama ·
Tesco Ukraine ·
Vicam, A Waters Business - Pittsburgh ·
Anknsh Nnmkoons Private Limited, Indore ·
Adanan Trading, Rajkot ·
Aditya Birla Retails Limited, Pune ·
Alaghentren Exim India Private Limited, Chennai ·
Anurag Protiens Junagadh ·
Ashish and
Brothers Kota ·
Ashutosh Industries - Amreli ·
Asiatic Tradelink Ahmedabad ·
Bajaj Foods Limited ·
Balaji Agro Industries - Idar |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Punjab National Bank, Danapith, Junasadh Branch – 362003, Gujarat,
India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Cash Credit Rs.200.000 Millions (From
Punjab National Bank) (Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C. Javia and Company Chartered Accountants |
|
Address : |
10, Balia Bhavan, Near Jayshri Talkies, Junagadh – 362001, Gujarat,
India |
|
Tel. No.: |
91-285-2624247 |
|
PAN No.: |
ABUPJ6672N |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2250000 |
Equity Shares |
Rs.10/- each |
Rs.22.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
22.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
8.579 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
31.079 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
194.427 |
|
|
2] Unsecured Loans |
|
|
37.082 |
|
|
TOTAL BORROWING |
|
|
231.509 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.205 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
262.793 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
34.568 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.577 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
120.620 |
|
|
Sundry Debtors |
|
|
137.275 |
|
|
Cash & Bank Balances |
|
|
7.384 |
|
|
Other Current Assets |
|
|
19.757 |
|
|
Loans & Advances |
|
|
1.500 |
|
Total
Current Assets |
|
|
286.536 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
55.770 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
3.118 |
|
Total
Current Liabilities |
|
|
58.888 |
|
|
Net Current Assets |
|
|
227.648 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
262.793 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
393.128 |
|
|
|
Other Income |
|
|
14.349 |
|
|
|
TOTAL (A) |
|
|
407.477 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
|
380.615 |
|
|
|
Other Expenses |
|
|
5.819 |
|
|
|
TOTAL (B) |
|
|
386.434 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
21.043 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
9.906 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
11.137 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
2.358 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
8.779 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
2.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
6.079 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
2.70 |
|
Expected Sales (2012-2013): Rs.800.000 Millions
The above information has been parted by Mr. Vikaram
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
1.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
2.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
2.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
9.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
4.87 |
RACHANA
SEEDS INDUSTRIES
(Partnership Concern)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
01.04.2010 To
28.02.2011 |
01.03.2011 To 31.03.2011 |
01.04.2011 To 18.10.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Fix Capital |
20.000 |
22.500 |
22.500 |
|
|
2] Partner’s Current Capital |
1.236 |
5.405 |
8.375 |
|
|
3] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
4] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
21.236 |
27.905 |
30.875 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
198.355 |
203.653 |
182.208 |
|
|
2] Unsecured Loans |
12.622 |
13.014 |
13.139 |
|
|
TOTAL BORROWING |
210.977 |
216.667 |
195.347 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
232.213 |
244.572 |
226.222 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
30.740 |
31.085 |
33.415 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.571 |
0.583 |
0.578 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
144.121
|
110.894 |
157.236 |
|
|
Sundry Debtors |
66.785
|
108.523 |
89.341 |
|
|
Cash & Bank Balances |
0.982
|
2.367 |
0.357 |
|
|
Other Current Assets |
18.614
|
18.994 |
25.400 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
230.502
|
240.778 |
272.334 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
29.506
|
27.529 |
79.890 |
|
|
Other Current Liabilities |
0.094
|
0.345 |
0.215 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
29.600
|
27.874 |
80.105 |
|
|
Net Current Assets |
200.902
|
212.904 |
192.229 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
232.213 |
244.572 |
226.222 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
01.04.2010 To
28.02.2011 |
01.03.2011 To 31.03.2011 |
01.04.2011 To 18.10.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
402.330 |
128.197 |
355.163 |
|
|
|
Other Income |
3.268 |
0.743 |
3.052 |
|
|
|
TOTAL |
405.598 |
128.940 |
358.215 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
346.866 |
120.655 |
314.405 |
|
|
|
Manufacturer and Kharajat Expenses
|
7.780 |
0.706 |
5.687 |
|
|
|
Export and Import Kharajat |
20.709 |
3.483 |
11.440 |
|
|
|
Interest Expenses |
14.313 |
1.949 |
12.910 |
|
|
|
Administrative, Sales and General Expenses |
6.357 |
0.702 |
6.855 |
|
|
|
Partner Remuneration |
0.165 |
0.030 |
0.330 |
|
|
|
Interest on Partner |
0.000 |
0.000 |
1.487 |
|
|
|
TOTAL |
396.190 |
127.525 |
353.114 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.408 |
1.415 |
5.101 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.316 |
0.088 |
2.261 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
5.092 |
1.327 |
2.840 |
|
KEY RATIOS
|
PARTICULARS |
|
01.04.2010 To
28.02.2011 |
01.03.2011 To 31.03.2011 |
01.04.2011 To 18.10.2011 |
|
PAT / Total Income |
(%) |
1.26 |
1.03 |
0.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.27 |
1.04 |
0.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.95 |
0.49 |
0.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.05 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.33 |
8.76 |
8.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.88 |
8.64 |
3.40 |
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 |
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 two years |
Yes |
|
12] |
Profitability for last one year |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
No |
Note:
The Registered Office of the company has been shifted from Survey No. 9,
Near Jagdish Export, Rajkot Road, Dolatpara, Junagadh - 362003, Gujarat, India
to the present address w.e.f. 29.03.2012
Bankers Charges Report
as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U15142GJ2011PTC067539 |
|
Name of the
company |
RACHANA SEEDS
INDUSTRIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
Survey No. 9, Rajkot Road, Dolatpara, Junagadh - 362003, Gujarat,
India E-mail: rsijnd@sancharnet.in
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10316820 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others
(RM, SIP, Finished Goods and Plant and Machinery) |
|
Particular of
charge holder |
Punjab National Bank, Danapith, Junasadh – 362003, Gujarat, India E-mail: bo0238@pnb.co.in |
|
Nature of
instrument creating charge |
Instrument
modifying the charge: Instrument modifying
the charge: 1) Hypothecation
of Goods and Book Debts to secure Cash Credit Facility. 1. (a) Packing
Credit Agreement (Hypothecation). 1. (b)
Hypothecation of Movable Assets forming part of fixed/block assets. 1. (c) Term Loan
Agreement. |
|
Date of instrument
Creating the charge |
25.09.2012 |
|
Amount secured by
the charge |
Rs.333.777
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of
Repayment Cash Credit: On
demand, subject to annual review. Packing Credit:
As per agreement. FOBNLC/FOUBNLC/FOBP:
As per agreement. Inland/Foreign
Letter of Credit (DA/DP): As per agreement. Term Loan: 20
quarterly installments of Rs.0.940 Million each (principal amt.) end of
quarter after COD. Margin CC: 25% on Stocks
and 35% on Book Debts. Packing Credit:
25%. FOBNLC/FOUBNLC/FOBP:
Nil Inland/Foreign
Letter of Credit (DA/DP): 15% Term Loan: 40.08%
i.e. Rs.12.577 Millions Extent and
Operation of the charge The charge
operates to extend security by way of hypothecation of moveable properties of
the Company as mentioned in Sr.No.15 (i) of this form in favour of Punjab
National Bank, Junagadh to secure repayment of entire credit facilities of
Rs.333.777 Millions in addition to all other interest, cost and expenses. Others There are three
other separate agreements viz., 1) Packing Credit
Agreement (Hypothecation) 2) Hypothecation
of moveable assets forming part of fixed/block assets. 3) Term Loan. All the above
mentioned agreements forms part of the Principal Agreement titled
"Hypothecation of Goods and Book Debts to secure Cash Credit
Facility" and the same shall be read jointly with the said Agreement. |
|
Particulars of
the present modification |
Total credit facilities
have been enhanced from Rs.206.300 Millions to Rs.333.777 Millions. The charge is
further extended by way of hypothecation of all the movable properties of the
Company to secure repayment of entire credit facilities of Rs.333.777
Millions granted by Bank. Bifurcation of
total credit facilities granted by the Bank. |
TRADE REFERENCES:
· Aditya Birla
· Kiran Traders
FIXED ASSETS:
·
Factory Building
·
Factory Land
· Construction (Factory and Godown)
·
Construction (Factory New)
·
Machinery
·
Fire Safety Equipments
·
Air Conditioner
·
Colour TV TCL
·
Computer and Fax
·
CCTV Camera
·
Dead Stock
·
Electric Weight Kanta
·
Furniture and Fixture
·
Motor Car – Alto
·
Scooter
·
Spider Fly Catcher
·
Weighing Machine
·
Honda City Car
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 subect 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.54.99 |
|
|
1 |
Rs.87.21 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.