1. SUMMARY INFORMATION
|
|
|
Country |
|
|
Company Name |
STERICAT GUT
STRINGS PRIVATE LIMITED |
Principal Name 1 |
Mr. Vikram Kapahi |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Indu Kapahi |
|
|
|
Registration # |
55-15846 |
|
Street Address |
W-40, Greater Kailash - I, |
||
|
Established Date |
02.06.1983 |
SIC Code |
-- |
|
Telephone# |
91-11-26945185 |
Business Style 1 |
Manufacturing
|
|
Fax # |
91-11-26942289 |
Business Style 2 |
Trading
|
|
Homepage |
Not Available |
Product Name 1 |
Surgical
Sutures and Allied Products |
|
# of employees |
77
[Approximately] |
Product Name 2 |
-- |
|
Paid up capital |
Rs.2,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors 100.00% |
Banking |
Bank of |
|
Public Limited Corp. |
No |
Business Period |
29 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Party |
-- |
Stericat Medical Devices Private Limited |
-- |
|
Note |
- |
||
2. SUMMARY
FINANCIAL STATEMENT
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
56,185,000 |
Current Liabilities |
25,082,000 |
|
Inventories |
21,973,000 |
Long-term Liabilities |
13,271,000 |
|
Fixed Assets |
81,508,000 |
Other Liabilities |
12,809,000 |
|
Deferred Assets |
000 |
Total Liabilities |
51,162,000 |
|
Invest& other Assets |
5,050,000 |
Retained Earnings |
111,054,000 |
|
|
|
Net Worth |
113,554,000 |
|
Total Assets |
164,716,000 |
Total Liab. & Equity |
164,716,000 |
|
Total Assets (Previous Year) |
163,501,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
113,830,000 |
Net Profit |
9,658,000 |
|
Sales(Previous yr) |
88,959,000 |
Net Profit(Prev.yr) |
5,648,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
STERICAT GUT STRINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
W-40,
Greater Kailash - I, New Delhi-110048 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.06.1983 |
|
|
|
|
Com. Reg. No.: |
55-15846 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.500 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1983PTC015846 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS20550F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS3777L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer,
Trader, Importer and Exporter of Surgical Sutures and Allied Products. |
|
|
|
|
No. of Employees
: |
77 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 454000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well 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.
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.
LOCATIONS
|
Registered Office : |
W-40,
Greater Kailash - I, New Delhi-110048, India |
|
Tel. No.: |
91-11-26945185 / 26943079 |
|
Fax No.: |
91-11-26942289 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Plot No. 169, Sector- 4, IMT - Manesar, Gurgaon-122050, Haryana,
India |
|
Tel. No.: |
91-124-4365235/6/4510700 |
|
Fax No.: |
91-124-4365289/4510700 [137 Extension] |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
E-25, B-1, Extension Mohan Co-Operative Industrial Estate, New
Delhi-110044, India |
|
Tel. No.: |
91-11-26945185 / 26943079 / 26940432 |
|
Fax No.: |
91-11-26942289 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
SDF #13, NSEZ – Noida, |
|
Location : |
Owned |
DIRECTORS
AS ON 30.08.2011
|
Name : |
Mr. Vikram Kapahi |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
W-40,
Greater Kailash - I, |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.11.1955 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.06.1983 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
01259534 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Indu Kapahi |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
W-40,
Greater Kailash - I, |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.04.1963 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.06.1999 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
01259554 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Charanjit
Kaur |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
BN - 38, Shalimar Bagh (West), New Delhi, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.1993 |
|||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Natasha Kapahi |
|
850 |
|
Charanjit
Kaur |
|
30 |
|
Indu Kapahi |
|
9995 |
|
Vikram Kapahi |
|
11125 |
|
Varun Kapahi |
|
3000 |
|
|
|
|
|
TOTAL
|
|
25000 |
AS ON 30.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Trader, Importer and Exporter of Surgical Sutures and Allied Products. |
PRODUCTION STATUS [AS ON 31.03.2011]
|
PARTICULARS |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Raw Catguts Metres |
N.A. |
Not
Ascertainable |
306432.00 |
|
Surgical Metres Suture (Catgut) |
N.A. |
Not
Ascertainable |
793071.00 |
|
Silk Suture Metres |
N.A. |
Not
Ascertainable |
448023.00 |
|
Nylon(Polymide) Sutures Metres |
N.A. |
Not
Ascertainable |
32508.00 |
|
Polyester Metres Sutures |
N.A. |
Not
Ascertainable |
64374.60 |
|
P.V.D.F. Metres |
N.A. |
Not
Ascertainable |
-- |
|
I. Col. Metres |
N.A. |
Not
Ascertainable |
1334505.60 |
|
Poly Propline Meters |
N.A. |
Not
Ascertainable |
111465.00 |
|
PGA – PCL (Stericryl) |
N.A. |
Not
Ascertainable |
1035.00 |
|
Mono |
N.A. |
Not
Ascertainable |
17078.40 |
|
P P Mesh |
N.A. |
Not
Ascertainable |
449.40 |
|
Polycol |
N.A. |
Not
Ascertainable |
32049.00 |
|
N Stril Polyester |
N.A. |
Not
Ascertainable |
0.00 |
|
Others |
N.A. |
Not
Ascertainable |
144.88 |
GENERAL INFORMATION
|
No. of Employees : |
77 [Approximately] |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, Raheja Square, IMT Manesar,
Gurgaon-122050, Haryana, India ·
ICICI Bank |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V K Dhingra and Company Chartered Accountants |
|
Address : |
1-E/15, Jhandewalan Extension, |
|
Tel. No.: |
91-11-23528511 /
23536857 / 23550475 |
|
Fax No.: |
91-11-23549789 |
|
E-Mail : |
|
|
PAN No: |
AAAFV7051N |
|
|
|
|
Related Parties
: |
·
Stericat Medical Devices Private Limited ·
Stericat Medical Company |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
48000 |
Equity Shares |
Rs.100/- each |
Rs.4.800 Millions |
|
2000 |
Preferences Shares |
Rs.100/- each |
Rs.0.200 Million |
|
|
TOTAL
|
|
Rs.5.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/-
each |
Rs.2.500
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 |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
111.054 |
108.436 |
109.606 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
113.554 |
110.936 |
112.106 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.201 |
9.096 |
11.372 |
|
|
2] Unsecured Loans |
0.070 |
0.070 |
0.070 |
|
|
TOTAL BORROWING |
13.271 |
9.166 |
11.442 |
|
|
DEFERRED TAX LIABILITIES |
6.998 |
6.590 |
5.856 |
|
|
|
|
|
|
|
|
TOTAL |
133.823 |
126.692 |
129.404 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
81.508 |
86.915 |
86.644 |
|
|
Capital work-in-progress |
5.050 |
5.050 |
5.050 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
2.140 |
3.609 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
21.973
|
24.351
|
21.360 |
|
|
Sundry Debtors |
28.222
|
21.680
|
27.087 |
|
|
Cash & Bank Balances |
20.417
|
6.659
|
14.581 |
|
|
Other Current Assets |
0.371
|
0.531
|
0.157 |
|
|
Loans & Advances |
7.175
|
16.175
|
13.526 |
|
Total
Current Assets |
78.158
|
69.396
|
76.711 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.478
|
22.653
|
27.981 |
|
|
Other Current Liabilities |
11.604
|
14.156
|
14.324 |
|
|
Provisions |
5.811
|
0.000
|
0.305 |
|
Total
Current Liabilities |
30.893
|
36.809
|
42.610 |
|
|
Net Current Assets |
47.265
|
32.587
|
34.101 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
133.823 |
126.692 |
129.404 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
113.830 |
88.959 |
115.806 |
|
|
|
Job Work |
0.000 |
7.606 |
4.785 |
|
|
|
Other Income |
6.152 |
1.632 |
1.556 |
|
|
|
TOTAL |
119.982 |
98.197 |
122.147 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Traded Goods Sold |
|
0.373 |
0.000 |
|
|
|
Manufacturing Expenses |
|
51.655 |
66.153 |
|
|
|
Administration Expenses |
|
23.153 |
21.929 |
|
|
|
Selling and Distribution Expenses |
101.769 |
11.663 |
17.294 |
|
|
|
Loss on |
|
0.781 |
0.080 |
|
|
|
Loss on |
|
0.037 |
1.018 |
|
|
|
Loss on valuation of current investment |
|
0.000 |
0.223 |
|
|
|
Increase / (Decrease) in Value of Stock of Finished Goods |
|
(2.738) |
0.176 |
|
|
|
TOTAL |
101.769 [Including
Financial Expenses] |
84.924 |
106.873 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
18.213 |
13.273 |
15.274 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.526 |
4.691 |
4.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
13.687 |
8.582 |
10.588 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.029 |
2.934 |
4.724 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
9.658 |
5.648 |
5.864 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ITEMS (NET) |
NA |
(1.154) |
0.388 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD TAX
ADJUSTMENT |
NA |
0.186 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
106.458 |
100.206 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
0.600 |
0.000 |
|
|
|
Interim Dividend |
NA |
5.000 |
0.000 |
|
|
|
Corporate Dividend Tax |
NA |
0.849 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
104.688 |
106.458 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
55.623 |
45.730 |
54.682 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
14.987 |
13.973 |
19.171 |
|
|
|
Consumables Stores, Packing Material |
2.474 |
3.540 |
2.728 |
|
|
TOTAL IMPORTS |
17.461 |
17.513 |
21.899 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
337.19 |
187.16 |
250.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.05
|
5.75
|
4.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.02
|
9.65
|
9.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.57
|
5.49
|
6.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.08 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.39
|
0.41
|
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.53
|
1.89
|
1.80 |
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 |
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 |
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
WORKING RESULTS
The Company has
achieved a turnover of Rs.113.830 millions (Previous Year: Rs.88.959 millions)
including export turnover of Rs.55.623 millions in year 2009-2011 as compared to
Rs.45.730 millions in the immediately preceding year. The directors expect that
inspite of tough competition the turnover of the company will increase in
future.
FINANCIAL RESULTS
Accounts of the
Company for the year ended 31st March, 2011 show a profit of Rs.13.687 millions
(Previous Year: Rs.8.582 millions) (before tax) after providing for
depreciation to the tune of Rs.4.526 millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U74899DL1983PTC015846 |
|
Name of the company |
STERICAT GUT STRINGS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
W-40, Greater Kailash - I, |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable property (not being pledge) ·
Others [Hypothecation of stocks and Plant and Machinery] |
|
Particular of charge holder |
Bank of |
|
Nature of instrument creating charge |
a composite hypothecation agreement
LDOC 17(b) is made at IMT
Manesar where the Bank Of Baroda has agreed to pay the cash credit facility
of rupees 15.000 millions, bills
purchased- clean facility of Rs.3.000 millions, FLC(DP/120- DA basis) of
Rs.2.000 millions bank guarantee facility of Rs.2.500 millions hereinafter
collectively refereed as banking facility with an aggregate maximum limit of
22.500 millions. |
|
Date of instrument Creating the charge |
05.07.2010 |
|
Amount secured by the charge |
Rs.22.500 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 1) 0.75% below BPLR i.e.
11.25% pa at present with monthly rests on cash credit and Bills Purchased. Terms of Repayment Repayable on demand subject to annual review. Margin 25% on stocks and 40% on book debts up to 90 days in the case of fund
based facility and 25% in the form of duly discharged FDR and with letter of deposit
of FDR in the case of non fund based facilities. Extent and Operation of the charge i) First charge by way of hypothecation of all the Borrower's stock
and debts, Plant and Machinery, Vehicle/ crafts, stores and spares both
present and future. ii) First charge by way of equitable mortgage of the factory land and
building situated at plot no. 169, Sector-4, IMT Manesar, Gurgaon (Haryana)
in the name of borrower. iii) Personal guarantee of Mr. Vikram Kapahi and Ms Indu Kapahi. Others N.A. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
·
Equitable mortgage of factory land and building
at Plot No 169, Sector-4, Manesar, Gurgaon, Haryana in the name of subject
worth Rs.124.100 millions. ·
First charge by way of hypothecation of all the
Borrower's stock and debts, Plant and Machinery, Vehicle/ crafts, stores and
spares both present and future. ·
Personal guarantee of Mr. Vikram Kapahi and Ms
Indu Kapahi |
CONTINGENT LIABILITIES NOT PROVIDED FOR
|
PARTICULARS |
As on 31.03.2011 Rs. in millions |
As on 31.03.2010 Rs. in millions |
|
Claims against
the Company not acknowledged as debts. Income Tax (A.
Y. 2006-07) |
0.000 |
0.054 |
|
Estimated amount
of contracts remaining to be executed on capital account and not provided
for |
0.846 |
0.864 |
|
TOTAL |
0.846 |
0.918 |
FIXED ASSETS:
TANGIBLE ASSETS
·
·
Building
·
Plant and Machineries
·
Electric Installation
·
Office Equipment
·
Computers
·
Furniture and Fixtures
·
Vehicles
INTANGIBLE ASSETS
·
Softwares
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.52.33 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.67.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.