MIRA
INFORM REPORT
|
Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAJHANS METALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gala No 3, Shiley
Industrial Estate, Udyog Nagar, Goregaon (West), Mumbai 400062, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.04.1987 |
|
|
|
|
Com. Reg. No.: |
11-043138 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.400 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH1987PTC043138 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR01969C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR5424Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Copper Alloy Extraction. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 948000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track records. The
latest financials of the company are not made available. As per 2011 records, we found that the company had huge external
borrowings. However, trade relations are reported as fair. Business is active.
Payment terms are unknown. The company can be considered for business dealings with great
caution. |
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A4+ (Short term bank facilities) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
February, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
BB+ (Long term bank facilities) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
February, 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
|
Name : |
Mr. Jatish |
|
Designation : |
Accounts Manager |
|
Date : |
28.11.2012 |
LOCATIONS
|
Registered Office : |
Gala No 3, Shiley Industrial Estate, Udyog Nagar, Goregaon (West),
Mumbai 400062, Maharashtra, India |
|
Tel. No.: |
91-22-28751713/ 28752280 |
|
Mobile No.: |
91-9824601421 (Mr. Bhavesh) |
|
Fax No.: |
91-22-28743477 |
|
E-Mail : |
sales@rajhans.com (Domestic Sales) exports@rajhans.com
(International Sales) imports@rajhans.com
(Imports/Raw material) info@rajhans.com (Other/General) |
|
Website : |
|
|
|
|
|
Factory : |
21-3, G.I.D.C., Shanker Tekri, Udyognagar, Jamnagar – 361004, Gujarat,
India |
|
Tel. No.: |
91-288-2560111/ 112/ 113 |
|
Fax No.: |
91-288-2560114 |
DIRECTORS
As on 19.07.2012
|
Name : |
Mr. Jasmin Jayendra Dodhi |
|
Designation : |
Director |
|
Address : |
“Jasmin”, Opposite Jolly Bungalow, Summair Club Road, Jamnagar –
361005, Gujarat, India |
|
Date of Birth/Age : |
06.05.1972 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.04.1994 |
|
PAN No.: |
AFHPS5523C |
|
DIN No.: |
00158746 |
|
|
|
|
Name : |
Mr. Kailashchandra Laxminarayan Mandawewala |
|
Designation : |
Director |
|
Address : |
Flat No.402, Ashutosh Appartment, Nirban Road, Opposite Guruduttatreya
Temple, Jamnagar-361008, Gujarat, India |
|
Date of Birth/Age : |
04.08.1943 |
|
Qualification : |
M. Com |
|
Date of Appointment : |
01.10.1998 |
|
PAN No.: |
AAAPM8385N |
|
DIN No.: |
00660684 |
|
|
|
|
Name : |
Mr. Mohanlal Nemchand Savla |
|
Designation : |
Director |
|
Address : |
B 16, Hindmata Cutpiece Merchants Coop Housing Society , Ambedkar
Road, Tata Mill Compound, Dadar (East), Mumbai-400014, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1939 |
|
Qualification : |
SSC |
|
Date of Appointment : |
01.10.1998 |
|
PAN No.: |
AAOPS5379Q |
|
DIN No.: |
00158758 |
|
|
|
|
Name : |
Mr. Milan Chandulal Dodhia |
|
Designation : |
Director |
|
Address : |
Milan, Opposite Jolly Bungalow, Summair Club Road, Jamnagar – 361005,
India |
|
Date of Birth/Age : |
12.08.1961 |
|
Qualification : |
BBA |
|
Date of Appointment : |
03.04.2007 |
|
PAN No.: |
AAXPD4459M |
|
DIN No.: |
00158730 |
|
|
|
|
Name : |
Mr. Sonil Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
Sonil, Summair Club Road, Jamnagar – 361005, Gujarat, India |
|
Date of Birth/Age : |
09.12.1968 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
ABOPS5301D |
|
DIN No.: |
00182987 |
KEY EXECUTIVES
|
Name : |
Mr. Jatish |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Milan C.
Dodhia |
|
3500 |
|
Chandulal
R. Shah |
|
1200 |
|
Arun R.
Mandawewala |
|
2092 |
|
Kailashchandra
L. Mandawewala |
|
600 |
|
Vivek K.
Mandawewala |
|
1493 |
|
Girdharilal
L. Mandawewala |
|
400 |
|
Sushil G.
Mandawewala |
|
1692 |
|
Kamalkumra
L. Mandawewala |
|
300 |
|
Anuradhadevi
K. Mandawewala |
|
900 |
|
Vishal K.
Mandawewala |
|
893 |
|
Navinchandra
N. Savla |
|
1395 |
|
Siddharth
N. Savla |
|
1395 |
|
Sushilaben
N. Savla |
|
1395 |
|
Nitin M.
Savla |
|
1395 |
|
Nilesh M.
Savla |
|
1395 |
|
Darshan N.
Savla |
|
1395 |
|
Ramniklal
K. Shah |
|
1500 |
|
Sonil R.
Shah |
|
2435 |
|
Himesh R.
Shah |
|
2435 |
|
Sonil R.
Shah HUF |
|
500 |
|
Himesh R.
Shah HUF |
|
500 |
|
Savitaben
Velji |
|
2400 |
|
Karamshi
Mulji HUF |
|
1500 |
|
Jayendra
Karamshi HUF |
|
250 |
|
Manisha
Jasmin Dodhia |
|
1000 |
|
Nirav J Dodhia
|
|
1000 |
|
Hansaben D.
Dodhia |
|
500 |
|
Milan C
Dodhia HUF |
|
1300 |
|
Rajvee
Shrenik Dodhia |
|
1100 |
|
Jyoti AtuI
Shah |
|
3000 |
|
Atul M.
Shah |
|
3750 |
|
Dhirajlal
Karamshi HUF |
|
500 |
|
Chandulal
R. Shah |
|
650 |
|
Jayendra
Karamshi |
|
2200 |
|
Harshil D.
Dodhia |
|
650 |
|
Kumudben J.
Dodhia |
|
150 |
|
Nirav J.
Dodhia |
|
100 |
|
Sarojben C.
Savla |
|
100 |
|
Chandrakant
H. Savla |
|
200 |
|
Darshak C.
Savla |
|
240 |
|
Lilavantiben
R. Shah |
|
1000 |
|
Shrenik C.
Dodhia |
|
1900 |
|
Parth M.
Dodhia |
|
200 |
|
Jasmin J.
Dodhia |
|
1300 |
|
Dhirajlal
K. Dodhia |
|
200 |
|
Total |
|
54000 |
Equity Share Break up (Percentage of Total Equity)
As on 19.07.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Copper Alloy Extraction. |
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|
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|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Brass Rods |
M.T |
NA |
12150.000 |
7528.410 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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|
Bankers : |
State Bank of
India, Digvijay Plot Branch, Digvijay Police Gate, Jamnagar - 361005, Gujarat,
India |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
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Facilities : |
Notes (A) Secured
against hypothecation of Windfarm and Plant and Machinery, collateral securities
are equitable mortgage of Residential Bunglow of Director, factory. (B) Secured
against hypothecation of Raw Material, stock in process, finished goods,
packing material, unfinanced book debts, receivables, bills in course of
realisation and other current assets and guaranteed by some of the Directors (C) Includes
Vehicle Loans taken from others of Rs. 0.085 Millions Secured by way of
hypothecation of respective vehicles purchased. (D) Includes Vehicle Loans taken from others of Rs. 0.287 Millions
Secured by way of hypothecation of respective vehicles purchased.
Note: (A) Includes
Unsecured Loans from Shareholders of Rs.7.400 Millions, from Relatives Rs.5,99,85,000/-
and from others Rs.93.765 Millions (B) Includes Unsecured Loans from Shareholders of Rs.9.525 Millions,
from Relatives Rs.62.100 Millions and from others Rs.51.340 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajnikant V. Pragada Chartered Accountants |
|
Address : |
102, Riddhi
Siddhi, Opposite Axis Bank, Park Colony Main Road, Jamnagar, Gujarat, India |
|
PAN No.: |
ANTPP0162A |
|
|
|
|
Related Parties: |
·
Rajhans Alloys Private Limited ·
Rajhans Enterprise ·
Rajlaxmi Metals Private Limited ·
Shree Ambika Cloth Stores |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54000 |
Equity Shares |
Rs.100/- each |
Rs.5.400 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 |
5.400 |
5.400 |
5.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
231.577 |
170.772 |
62.217 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
236.977 |
176.172 |
67.617 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
344.270 |
208.965 |
166.981 |
|
|
2] Unsecured Loans |
161.395 |
124.205 |
90.066 |
|
|
TOTAL BORROWING |
505.665 |
333.170 |
257.047 |
|
|
DEFERRED TAX LIABILITIES |
7.276 |
7.720 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
749.918 |
517.062 |
324.664 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
80.510 |
103.896 |
76.285 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
2.844 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
14.936 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
270.059
|
130.930 |
87.138 |
|
|
Sundry Debtors |
355.226
|
237.980 |
129.082 |
|
|
Cash & Bank Balances |
22.723
|
11.430 |
7.769 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
108.095
|
110.197 |
34.364 |
|
Total
Current Assets |
756.103
|
490.537 |
258.353 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
39.712
|
30.782 |
19.884 |
|
|
Other Current Liabilities |
9.249
|
9.737 |
6.999 |
|
|
Provisions |
37.735
|
36.853 |
0.872 |
|
Total
Current Liabilities |
86.696
|
77.372 |
27.755 |
|
|
Net Current Assets |
669.407
|
413.165 |
230.598 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
749.918 |
517.062 |
324.664 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
1403.498 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2296.823 |
1802.796 |
1403.498 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
1464.641 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2182.322 |
1620.987 |
1464.641 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
114.501 |
181.809 |
(61.143) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
18.138 |
12.072 |
12.810 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
96.363 |
169.736 |
(73.953) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
34.919 |
60.541 |
(26.922) |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX |
61.444 |
109.195 |
(47.031) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
0.000 |
|
|
|
Dividend |
0.540 |
0.540 |
0.000 |
|
|
|
Tax on Dividend |
0.090 |
0.090 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
60.814 |
108.566 |
(46.732) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
325.019 |
54.588 |
112.110 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
1963.374 |
1329.587 |
1121.338 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1137.85 |
2022.14 |
(870.95) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.68
|
6.06 |
(3.35) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.52
|
28.55 |
(22.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Net worth) |
|
0.41
|
0.96 |
(1.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Net worth) |
|
2.50
|
2.33 |
4.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.72
|
6.34 |
9.31 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Creditors due others |
39.712
|
30.782 |
19.884 |
|
|
|
|
|
|
Total |
39.712
|
30.782 |
19.884 |
|
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) |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS
Though the total
income was higher compared to previous year, steep increase in manufacturing
cost including raw-materials and higher provision for Depreciation effected the
profitability of the Company. The total turnover for the year was Rs. 2296.823
Millions as against Rs.1802.796 Millions last year. Pre-tax profit for the year
was Rs.96.363 Millions as against Rs.169.736 Millions a year ago.
Prices of
non-ferrous scrap remained highly volatile throughout the year and the Company
was not able to pass on full impact of price increase due to stiff resistance
from buyers. The performance of wind farms remained encouraging.
FUTURE PROSPECTS
The Indian economy
is effected due to slow down in U.S.A. and Europe. The industrial production in
general is showing down ward trend since the fourth quarter of the financial
year 2010-2011. Considering the huge demand and vast economy of our country,
the revival of economy is imminent.
The Company has
consolidated its position in both in domestic and overseas markets and the
Company has become a preferred destination for brass extrusion products.
Considering the above, the Directors are optimist to face any challenge
and are confident of better future of the Company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U28910MH1987PTC043138 |
|
Name of the company |
RAJHANS METALS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Gala No 3, Shiley Industrial Estate, Udyog Nagar, Goregaon (West),
Mumbai 400062, Maharashtra, India Email: info@rajhans.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90221502 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
State Bank of India, Digvijay Plot Branch, Digvijay Police Gate,
Jamnagar - 361005, Gujarat, India Email: sbi.60087@sbi.co.in |
|
Nature of instrument creating charge |
Memorandum relating to deposit of title deeds for creation of further
charge for open term loan or overall limit where the initial charge was
created by way of mortgage by deposit of title deeds. |
|
Date of instrument Creating the charge |
28.08.2012 |
|
Amount secured by the charge |
Rs. 446.100 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Working Capital:Base rate+4.5% i.e. 14.50%, Open Term Loan:Base
rate+4.6% i.e. 14.60%, Existing Term Loan:Base rate+4.6% i.e. 14.60%.
Concessions subject to recommendation from sanctioning authority Terms of Repayment Working Capital : Repayable on Demand. Open Term Loan : 36 installments
of Rs. 0.555 Millions each with the first installment commencing on
succeeding month of disbursement and last installment falling due on 36th
month from the date of disbursement. Existing medium term loan: as per
existing repayment schedule. Margin Fund Based Limit: Raw Material : 20%, Stock in Process : 20%, Finished Goods : 20%,
Receivables : 35%, EPC : 10% Open Term Loan : 25% Non Fund Based Limit: Letter of Credit / Buyer's Credit : 10% by way of Bank's TDR Bank Guarantees : 25% cash or TDR for normal cases. 100% in cases of guarantees issued for disputed cases / matters. Extent and Operation of the charge The Existing total loan facility increased from Rs. 351.600 millions
to 446.100 millions 1. Working Capital facilities charges were increased to Rs. 280.000
millions 2. Stand by line of credit increased to Rs. 30.000 millions 3. Term Loan decreased to Rs. 10.600 millions 4. Open Term Loan increased to Rs. 20.000 millions 5. Letter of Credit / Buyer's Credit increased to Rs. 100.000 millions 6. PEF 2% on cel (forward contract limit) increased to Rs. 4.500
millions 7. PEF 0.50% on cel (forward contract limit) increased to Rs. 1.000
millions |
|
Short particulars of the property or asset(s) charged (including complete
address and location of the property) |
Equitable mortgage of Industrial Plot No. 21/3 bearing Survey No.
1472/1-B in GIDC, Shanker Tekri Udhyognagar, Jamnagar, together with
construction of shed / building thereon. Equitable mortgage of Industrial Plot No. 50 bearing Survey No.1472,
City Survey No. 67, in GIDC, Village Jamnagar, together with construction of
shed / building thereon. Equitable mortgage of residential land and building "MILAN"
situated at Plot No. 107/A, C.S. No. 1624, Summair Club Road, Opp. Jolly
Bunglow Shopping Centre, Jamnagar Equitable mortgage of commercial shop (Bharat Petroleum Co.) City
Survey No. 84/paiki of Sheet A/1, New Survey No. 912 of sheet No. 296 at Bhid
Bhanjan Road, Near Bedi Gate, Super Market, Jamnagar Equitable mortgage of industrial land and building situated at Plot
No. 6, Rev. Sur. No. 1488 paiki, at GIDC Industrial Estate, Shanker Tekri
Jamnagar Equitable mortgage of Non Agricultural commercial plot at survey No.
19, village Navadra Taluka, Kalyanpur District, Jamnagar. |
|
Whether any of the property or interest therein under reference is not
registered in the name of the company |
Yes |
|
If yes, in whose name it is registered |
Property at Sr. No. (iii) Shri Chandulal Raichand Shah (iv) Shri Harshil
D. Dodhia (v) Rajlaxmi Metals Pvt. Ltd. |
|
Date of instrument modifying the charge |
25.03.2011 |
|
Particulars of the present modification |
The existing total loan facility increased from Rs. 351.600 millions
to Rs. 446.100 millions as under- 1. Working Capital facilities increased to Rs. 280.000 Millions. 2. Stand by line of credit increased to Rs. 30.000 Millions. 3. Term Loan decreased to Rs. 10.600 Millions. 4. Open Term Loan increased to Rs. 20.00 Millions. 5. Buyer's Credit increased to Rs. 100.000 Millions. 6. PEF 2% on CEL (Forward Contract Limit) increased to Rs. 4.500
Millions. 7. PEF 0.50% on CEL (Forward Contract Limit) increased to Rs. 1.000
Millions. |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fittings
·
Vehicles
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] 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.55.20 |
|
|
1 |
Rs.88.38 |
|
Euro |
1 |
Rs.71.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.