MIRA
INFORM REPORT
|
Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
CARE OFFICE EQUIPMENT LIMITED (w.e.f. 14.09.2010) |
|
|
|
|
Formally Known As : |
CARE OFFICE EQUIPMENT PRIVATE LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
31-08-1998 |
|
|
|
|
Com. Reg. No.: |
04-034605 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.22.036 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24110GJ1998PTC034605 |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
A Closely Held Public Limited Liability Company |
|
|
|
|
No. of Employees : |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 530000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track. Trade relations are reported
as fair. Business is active. Payments are reported to be usually correct and
as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CASH CREDIT : CRISIL BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of financial
obligation it carry moderate credit risk.
|
|
Date |
November, 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.
INFORMATION DENIED BY
Management Non Co-Operative
(91-79-26924821)
LOCATIONS
|
Registered
Office : |
Celler Vraj Vihar
Tower Opposite Aryavrata Bungalows, B/H Prerna-Tirth Bungalows, Jodhpur Gam
Road, Satellite Ahmedabad-380015, Gujarat, India. |
|
Tel. No.: |
91-79-26924821-25
/ 40013000 |
|
Fax No.: |
91-79-26924825
/26421253 /26923019 /40013096 |
|
E-Mail : |
reshma@careoffice.in
sales@careoffice.in
|
|
Websites: |
http://www.careoffice.in
|
|
Area : |
20000 sq.fts |
|
Location : |
Rented |
|
|
|
|
Showroom 1: |
4 and 5 Ground
Floor, Fairdeal House, Near Swastik Cross Roads, C. G. Road, Ahmadabad - 380
009, Gujarat, India |
|
Tel. No.: |
91-79-26421251/2/26527176/26560204 |
|
Fax No.: |
91-79-26560204 |
|
Area : |
2000 Sq. fts |
|
Location : |
Rented |
|
|
|
|
Showroom 2: |
8 GF, Ground
Floor and Basement, Opposite Gurudwara, |
|
Area : |
5000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Showroom 3: |
GF, 19, Windsor Plaza, R. C. Dutt Road, Alkapuri, Baroda -
390 007, , Gujarat, India |
|
|
|
|
Showroom 4 : |
39/1, Mahagujarat Industrial Estate, Moje - Changodar,
Village : Moraiya Tal : Sanand, Dist. : Ahmadabad, Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 1 : |
6 and 7, GF and Basement, Fairdeal House, Nr. Swastik
Cross Road, C. G. Road, Ahmedabad 380 009 Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 2 : |
5 and 6, Gokulesh Complex, Sampat Rao Colony, R. C. Dutt
Road, Alkapuri, Baroda - 390 007, Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 3 : |
No. 1, Upper Ground Floor, Jivan Deep Building, Near
Nirmal Hospital, Opp. Sub Jail, Ring Road, Surat - 395 002, Gujarat, India |
|
|
|
|
Other Godowns
: |
·
4,5, Landmark, Mithakhali Six Road, Navrangpura, Ahmadabad, Gujarat,
India ·
5, N. K. Patel Estate No. 2, Sarkhej Bavla Road, Moje Fatehwadi,
Taluka Daskoi, Dist. Ahmadabad, Gujarat, India ·
GF 2, 3, 4 & Celler Vraj Vihar Tower, Jodhpur Gam Road, Ahmadabad,
Gujarat, India ·
Basement Zodiac Square, Opp : Gurudwara, S. G. Road, Ahmadabad,
Gujarat, India |
|
|
|
|
Authorized
Service Center : |
Care Info
Solutions Private Limited GF and Basement, Shubh Complex, Behind Sheth Opticals, Nr.
Swastik Cross Road, Ahmadabad 380 009, Gujarat, India |
DIRECTORS
As on : 30.09.2011
|
Name : |
Mr. Hemant Shantilal Shah |
|
Designation : |
Managing Director |
|
Address : |
302, Shyamal Apartment, Suvidha Shopping Centre, Paldi, Ahmedabad
380007, |
|
Date of Birth/Age : |
12.02.1968 |
|
PAN No.: |
ACZPS4370F |
|
Date of Appointment : |
31.08.1998 |
|
DIN No.: |
00458049 |
|
|
|
|
Name : |
Mr. Kamlesh Dhirajlal Shah |
|
Designation : |
Director |
|
Address : |
502, Kailashiddhi Apartment, |
|
Date of Birth/Age : |
08.03.1960 |
|
PAN No. : |
AAKPS78870D |
|
Date of Appointment : |
31.08.1998 |
|
DIN No.: |
00458265 |
|
|
|
|
Name : |
Mr. Firozbhai Pirbhai Sama |
|
Designation : |
Director |
|
Address : |
402, |
|
Date of Birth/Age : |
01.06.1959 |
|
PAN No. : |
ADEP80725C |
|
Date of Appointment : |
05.09.1998 |
|
DIN No.: |
00458426 |
|
|
|
|
Name : |
Mr. Mayurkant Kanhiyalal Shah |
|
Designation : |
Director |
|
Address : |
A-35, Kirtisagar Apartments, |
|
Date of Birth/Age : |
27.07.1975 |
|
Date of
Appointment : |
02.07.2007 |
|
DIN No.: |
01715326 |
|
|
|
|
Name : |
Mr. Mani Venkatachalam Iyer |
|
Designation : |
Director |
|
Address : |
A1/114 Nandan Apartments, Near Rajsurya Bunglows, Ramdevnagar, Ahmedabad – 380017, Gujarat,
India |
|
Date of Birth/Age : |
06.06.1965 |
|
Date of
Appointment : |
02.07.2007 |
|
DIN No.: |
01715385 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Aayushi Shah (Minor) |
|
28000 |
|
Arvind Raval – HUF |
|
10 |
|
Arvind S. Shah |
|
22510 |
|
Arvind Shah |
|
10500 |
|
Atik Firoz Sama |
|
74600 |
|
Bhartiben K. Shah |
|
88079 |
|
Bina Shah |
|
40260 |
|
Deepak Raval |
|
10 |
|
Deepak Raval HUF |
|
10 |
|
Firoz Sama |
|
84432 |
|
Gaurang Dave |
|
22500 |
|
Gunjali Desai |
|
50260 |
|
Hemant Shantilal Shah |
|
674132 |
|
Hina Hemant Shah |
|
175946 |
|
J.P. Purohit |
|
30 |
|
Jitesh Desai |
|
58310 |
|
K. R. Baxi |
|
75480 |
|
Kamlesh D. Shah |
|
114280 |
|
Mani V Iyer |
|
16500 |
|
Maulik A Shah |
|
96910 |
|
Mina Sama |
|
32120 |
|
Neha Dave |
|
54589 |
|
Pandurang Vaje |
|
22500 |
|
Pilot Enterprise |
|
8 |
|
Pinkal M Shah |
|
59564 |
|
Pooja K Shah |
|
183520 |
|
Rachana Miyani |
|
16804 |
|
Rajiv Shah |
|
4000 |
|
Rakesh Desai |
|
32500 |
|
Rupesh Miyani |
|
34790 |
|
Tanvishah |
|
28000 |
|
Mayur Shah |
|
102436 |
|
Bhavna Raval |
|
10 |
|
Pratima Raval |
|
10 |
|
Total |
|
2203610 |
List of Allotteess
As on 15.10.2011
Share Allottees Details File Attached
AS ON 30.09.2011
|
Equity share
breakup |
|
|
Category |
Percentage |
|
Directors or relatives of directors |
75.40 |
|
Others |
24.60 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of office
automation products |
|
|
|
|
Products : |
Services of
Auction Software |
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Note: Kotak Mahindra Prime Limited (HNDAI I-20-1) : Rs.0.418 Million Kotak Mahindra Prime Limited (HNDAI I-20-2) : Rs.0.418 Million Kotak Mahindra Prime Limited (SKODA-LAURA) : Rs.1.483 Million TOTAL : Rs.2.319 Million
|
|
|
|
|
Banking Relations
: |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Prakash Bhavsar and Associates Chartered Accountants |
|
Address : |
A – 106, Oxford Avenue, Opposite C. U. Shah College Income Tax,
Ahmedabad 380014, Gujarat, India |
|
PAN No. |
AAQPB5026P |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Share |
Rs.10/- Each |
Rs.30.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2362888 |
Equity Share |
Rs.10/- Each |
Rs.23.629
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Share |
Rs.10/- Each |
Rs.30.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2203610 |
Equity Share |
Rs.10/- Each |
Rs.22.036
Millions |
|
|
|
|
|
NOTE:
Out of which 0.700 millions equity shares of
Rs. 10/-each, is issued as fully paid up bonus shares by way of utilization of
profit and loss a/c in financial year 2006-07
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 |
22.036 |
22.036 |
17.743 |
|
|
2] Share Application Money |
7.964 |
0.000 |
0.993 |
|
|
3] Reserves & Surplus |
102.758 |
77.691 |
57.297 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
132.758 |
99.727 |
76.033 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
361.780 |
238.794 |
208.335 |
|
|
2] Unsecured Loans |
46.138 |
32.594 |
8.885 |
|
|
TOTAL BORROWING |
407.918 |
271.388 |
217.220 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
540.676 |
371.115 |
293.253 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
41.564 |
33.464 |
30.018 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
428.930 |
332.016 |
264.525 |
|
|
Sundry Debtors |
180.905 |
177.044 |
154.898 |
|
|
Cash & Bank Balances |
14.220 |
3.953 |
3.087 |
|
|
Other Current Assets |
11.213 |
11.674 |
10.854 |
|
|
Loans & Advances |
9.894 |
8.395 |
11.244 |
|
Total
Current Assets |
645.162 |
533.082 |
444.608 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
118.213 |
175.976 |
176.213 |
|
|
Other Current Liabilities |
4.347 |
0.000 |
0.000 |
|
|
Provisions |
23.614 |
19.576 |
5.268 |
|
Total
Current Liabilities |
146.174 |
195.552 |
181.481 |
|
|
Net Current Assets |
498.988 |
337.530 |
263.127 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.124 |
0.121 |
0.108 |
|
|
|
|
|
|
|
|
TOTAL |
540.676 |
371.115 |
293.253 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
1675.223 |
|
|
|
Other Income |
|
|
64.252 |
|
|
|
TOTAL (A) |
|
|
1739.475 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
|
|
1499.100 |
|
|
|
Manufacturing service costs |
|
|
0.256 |
|
|
|
Contract cost |
|
|
0.000 |
|
|
|
Employee related expenses |
|
|
36.248 |
|
|
|
Administrative selling other expenses |
|
|
118.005 |
|
|
|
TOTAL (B) |
|
|
1653.609 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
85.866 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
40.967 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
44.899 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
5.086 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
39.813 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
14.746 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
25.067 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
77.691 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
102.758 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
11.38 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
1383.326 |
979.257 |
|
|
|
Direct Income |
|
48.428 |
29.404 |
|
|
|
Other Income |
|
0.139 |
0.142 |
|
|
|
TOTAL (A) |
|
1431.893 |
1008.803 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
1271.860 |
901.072 |
|
|
|
Direct Expenses |
|
6.565 |
5.515 |
|
|
|
Sales, Administrative and Other Expenses |
|
83.095 |
56.515 |
|
|
|
Preliminary Expenses W/off |
|
0.037 |
0.027 |
|
|
|
TOTAL (B) |
|
1361.557 |
963.129 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
70.336 |
45.674 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
33.378 |
24.169 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
36.958 |
21.505 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
4.559 |
4.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
32.399 |
16.970 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
10.025 |
4.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
22.374 |
12.585 |
|
|
|
|
|
|
|
|
|
|
SHORT PROVISION
OF INCOME TAX OF EARLIER YEARS |
|
1.987 |
2.422 |
|
|
|
|
|
|
|
|
|
|
EXCESS PROVISION
OF FBT OF EARLIER YEARS |
|
0.007 |
0.000 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT AFTER
TAX |
|
20.394 |
10.163 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
57.297 |
47.134 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
77.691 |
57.297 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
10.15 |
5.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.44 |
1.56 |
1.24
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.38 |
2.34 |
1.72
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.80 |
5.71 |
3.75
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.32 |
0.22
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.17 |
4.68 |
5.24
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.41 |
2.72 |
2.45
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
|
|
|
|
|
Small Micro Enterprises |
0.000 |
|
|
|
Others |
118.213 |
|
|
|
Total |
118.213 |
175.976 |
176.213 |
|
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 |
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
(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 |
No |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of charge |
|
Charge identification number of the modified |
10058203 |
|
Corporate identity number of the company |
U24110GJ1998PTC034605 |
|
Name of the company |
CARE OFFICE EQUIPMENT LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Celler Vraj Vihar Tower Opposite Aryavrata Bungalows, B/H Prerna-Tirth Bungalows, Jodhpur Gam Road, Satellite Ahmedabad-380015, Gujarat, India. E-mail Id : hemant@careoffice.co.in |
|
Type of charge |
Book Debts Movable property Floating Charge |
|
Particular of charge holder |
Bank of India, Ahmedabad MID Corporate Banking Branch, 1st Floor, BOI Building, Swastik Char Rasta, Navrangpura, Ahmedabad – 380009, Gujarat, India E-Mail Id : mcb.ahmedabad@bankofindia.co.in |
|
Nature of description of the instrument creating or modifying the charge |
Eighth supplemental hypothecation agreement (machinery, stocks and book debts) executed by the company to secure modified and increased fund based and non fund based total aggregate limits of Rs. 580.000 Millions |
|
Date of instrument Creating the charge |
28.09.2012 |
|
Amount secured by the charge |
Rs.580.000 Millions |
|
Brief particulars of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC STK / BKDTS - 3% + BR presently 13.50% P. A. On monthly rest or such other rate as may be present by Bank FM time to time ADHCC - 4% + BR presently 14.50% P. A. BK GUA / LC - as applicable FM time to time. Terms of Repayment CC stock - on demand / annual review CC book debt - on demand / annual review ADHOC Cc limit - on demand / on or before 60 days Bank guarantee - on demand / annual review LC (I/F) DA/ DP 90 days - on demand / annual review Margin CC stock - 25% CC book debts - 40% ADHOC STK - 25% BD - 40% Bank guarantee - 15% LC (I/F) DA/ DP 90 days - 15% Extent and Operation of the charge First and exclusive hypothecation charge on all tangible movable properties being plant and machineries, stocks of materials and book debts and all other movable assets of the company to secure modified revised and increased fund based and non fund based total aggregate limits of Rs.580.000 Millions alongwith all the interest, addl int, penal int, costs, charges, commission or such other amt due to the bank of what so ever nature from time to time Others FACILITY EXIST REVISED Rs. In Millions CC STK 460.000 460.000 CC BK (200.000) (200.000) TOTAL FB MAX 460.000 460.000 ADHOC LIM NIL 30.000 WCFBL 460.000 490.000 BK GUA 90.000 90.000 LC (I/F) DA/ DP (50.000) (50.000) TOTAL NFB MAX 90.000 90.000 AGG LIM 550.000 580.000 |
|
Short particulars of the property charged |
All the tangible movable plant and mach and equip of the co whether installed or not and whether lying loose or in cases situated at co premises/godowns at Ahmedabad All stocks of materials like computers, ups, furniture’s and fixtures both present and future lying or stored at co premises/godowns at Ahmedabad All the book debts, outstandings, money receivables, claims bills both present and future |
|
Date of latest modification prior to the present modification |
21.04.2012 |
|
Particulars of the present modification |
Bank has granted addl ADHOC LIM of Rs. 30.000 Millions and thereby tot aggregate fund based and non fund based LIM are mod, rev and increased fm Rs. 550.000 Millions to Rs. 580.000 Millions. Thus first and excl hypo ch on all movable prop of co being plant and mach, stk of mat, bk dts and other mov assets has been extended and will operate for Rs. 580.000 Millions w. e. f. 28.09.2012. |
fixed assets:-
· Computer
· Furniture and Fixtures
· Air Condition
· EPbX System
· Gas Purchase
· Scooter
· Aqua guard
· Fan
· Maruti Van
· Showroom Board
· Filing Machine
· Car
· Mobile
· Cycle
· Air Conditioner (Water Cooler)
· Electric Goods
· T V
· CD Drive
· Bike
· Building
· E-Bike
· Bike Yamaha Libero
· Hero Honda
· Plant and machinery
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 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.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
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 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.