1. Summary Information
|
|
|
Country |
|
|
Company Name |
PLASTEX PRODUCTS PRIVATE LIMITED |
Principal Name 1 |
Mr. Kunal Ramesh Shah |
|
Status |
Moderate |
Principal Name 2 |
Mr. Bimal Kantilal Haria |
|
|
|
Registration # |
11-018832 |
|
Street Address |
Haria Centre 8,
Subhash Road, Mumbai-400057, Maharashtra. India |
||
|
Established Date |
20.02.1976 |
SIC Code |
-- |
|
Telephone# |
91-22-55023205 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-28367052 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Readymade garment |
|
|
# of employees |
150 (Approximately) |
Product Name 2 |
Yarn |
|
Paid up capital |
Rs.
26,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 49.23 % Directors or relatives of directors 50.77 % |
Banking |
IDBI Bank
Limited |
|
Public Limited Corp. |
NO |
Business Period |
36 years |
|
IPO |
NO |
International Ins. |
--- |
|
Public |
NO |
Rating |
Ba (44) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
59,205,000 |
Current Liabilities |
36,217,000 |
|
Inventories |
35,106,000 |
Long-term Liabilities |
90,798,000 |
|
Fixed Assets |
84,647,000 |
Other Liabilities |
2,383,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
129,398,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
23,560,000 |
|
|
|
Net Worth |
49,560,000 |
|
Total Assets |
178,958,000 |
Total Liab. & Equity |
178,958,000 |
|
Total Assets (Previous Year) |
67,364,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
214,235,000 |
Net Profit |
192,265,000 |
|
Sales(Previous yr) |
75,135,000 |
Net Profit(Prev.yr) |
2,854,000 |
MIRA
INFORM REPORT
|
Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
PLASTEX PRODUCTS PRIVATE LIMITED (w.e.f. 24.06.2009) |
|
|
|
|
Formerly Known
As : |
HARIA GARMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Haria Centre 8, Subhash Road, Vile Parle (east), Mumbai – 400057,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Year of
Establishment : |
20.02.1976 |
|
|
|
|
Com. Reg. No.: |
11-018832 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.26.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17200MH1976PTC018832 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH07582B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH1453K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Readymade Garments |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. In
me 2010-2011 year company performance seems good. Trade relations are
reported to be fair. Business is active. Payment are reported to be usually
correct and as per commitment. The company can be considered for normal business dealing at usual
trade terms and condition. |
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
|
Name : |
Mr. Rajesh |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-40973000 |
|
Date : |
28.09.2012 |
|
Name : |
Mr. Vijay More |
|
Designation : |
Accountant |
LOCATIONS
|
Registered Office : |
Haria Centre 8, Subhash Road, Vile Parle (East), Mumbai – 400057,
Maharashtra, India |
|
Tel. No.: |
91-22-40973000/91-22-55023205 |
|
Fax No.: |
91-22-40973030 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
N7, Raj Laxmi – Hitch Complex, Mumbai Nashik Highway, Bhiwandi – 421302, Thane, Maharashtra, India |
|
Tel. No.: |
91-2522-646136 |
|
|
|
|
Factory 2 : |
Plot No. 345/358, GIDC Industrial Zone, Silvasa Road, Vapi – 396195,
Gujarat, India |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Kunal Ramesh Shah |
|
Designation : |
Director |
|
Address : |
Plot No – 353, Pushpkunj Opposite- Lions Club, Gunjan Vapi, Valsad –
396195, Gujarat, India |
|
Date of Birth/Age : |
19.06.1985 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
02777565 |
Other Directorship
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17200MH1976PTC018832 |
PLASTEX
PRODUCTS PRIVATE LIMITED |
Director |
30/09/2009 |
31/08/2009 |
- |
Active |
NO |
|
2 |
U17120MH2011PTC219617 |
BEST
KNITTING MILLS PRIVATE LIMITED |
Director |
11/07/2011 |
11/07/2011 |
- |
Active |
NO |
|
Name : |
Mr. Bimal Kantilal Haria |
|
Designation : |
Additional director |
|
Address : |
7, Laxmi Building, North Avenue Road, Santacruze (West), Mumbai –
400054, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1974 |
|
Date of Appointment : |
25.05.2011 |
|
DIN No.: |
00585299 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17200MH1976PTC018832 |
PLASTEX
PRODUCTS PRIVATE LIMITED |
Additional
director |
25/05/2011 |
01/01/1996 |
- |
Active |
NO |
|
2 |
U65990MH1981PTC025044 |
HARIA
INVESTMENTS PRIVATE LIMITED |
Director |
01/03/1996 |
01/03/1996 |
- |
Active |
NO |
|
3 |
U67120MH1981PTC025087 |
GINZA
FINANCE PRIVATE LIMITED |
Director |
01/03/1996 |
01/03/1996 |
01/10/2008 |
Active |
NO |
|
4 |
U70100MH1981PTC025054 |
HARIA
PROPERTY AND DEVELOPERS PRIVATE LIMITED |
Director |
01/03/1996 |
01/03/1996 |
- |
Active |
NO |
|
5 |
U17120MH1981PTC024968 |
SOUTH
EAST TEXTILES PRIVATE LIMITED |
Director |
01/03/1996 |
01/03/1996 |
- |
Active |
NO |
|
6 |
U26900MH1981PTC025053 |
BLUEWEB
INFOSYSTEMS PRIVATE LIMITED |
Director |
15/05/1999 |
15/05/1999 |
- |
Active |
NO |
|
7 |
U24239MH1973PTC017094 |
VILCO
PHARMA PRIVATE LIMITED |
Director |
20/03/2006 |
20/03/2006 |
- |
Active |
NO |
|
8 |
U74140MH2009PTC193006 |
ANAKIN
MANAGEMENT CONSULTANTS PRIVATE LIMITED |
Director |
04/06/2009 |
04/06/2009 |
14/07/2009 |
Active |
NO |
|
9 |
U45207MH2010PTC199896 |
M.
H. REALTORS PRIVATE LIMITED |
Director |
09/02/2010 |
09/02/2010 |
11/10/2010 |
Active |
NO |
|
10 |
U45400MH2010PTC208516 |
ANAKIN
REAL ESTATE PRIVATE LIMITED |
Director |
01/10/2010 |
01/10/2010 |
- |
Active |
NO |
|
11 |
U67190MH2008PTC180755 |
BJN
HOLDINGS PRIVATE LIMITED |
Additional
director |
06/08/2012 |
06/08/2012 |
- |
Active |
|
KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Mr. Vijay More |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Kantilal L Hairia |
|
23400 |
|
Haria Manish Sheetal |
|
20300 |
|
Manish K. Haria |
|
28100 |
|
Haria Bimal Minti |
|
20300 |
|
Bimal K. Haria |
|
28100 |
|
Haria Dhirajlal Ratanben |
|
9800 |
|
Best Paper Mills Private Limited, India |
|
128000 |
|
Kunal R. Shah |
|
2000 |
|
Total |
|
260000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
Bodies corporate |
|
49.23 |
|
Directors or relatives of directors |
|
50.77 |
|
|
|
|
|
Total
|
|
100 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Readymade Garments |
|
|
|
|
Exports : |
|
|
Products : |
Readymade garments |
|
Countries : |
Korea |
|
|
|
|
Imports : |
|
|
Products : |
Yarn |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash (90 days) |
|
|
|
|
Purchasing : |
L/C and Cash (30 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Fabric |
|
Kgs |
2016000 |
1198058 |
GENERAL INFORMATION
|
Suppliers : |
·
JBM Industries Limited |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers ·
Citizen Synthetics Private Limited |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· IDBI Bank, Specilzed Corporate Branch-Mcg, 47 Opus Centre, Central Road, MIDC, Andheri (East), Mumbai - 400093, Maharashtra, India · IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. C. Chagand and Company Chartered Accountants |
|
Address : |
403, Everest Classique, Subhash Road, Vile Parle (E), Mumbai – 400057,
Maharashtra, India |
|
Tel. No.: |
91-22-26182270 |
|
Mobile No.: |
91-9821032431 |
|
E-Mail : |
|
|
PAN No.: |
AABPC8978L |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260000 |
Equity Shares |
Rs.100/- each |
Rs 26.000
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 |
26.000 |
16.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23.560 |
4.295 |
6.721 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
49.560 |
20.295 |
8.721 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30.393 |
14.952 |
0.000 |
|
|
2] Unsecured Loans |
60.405 |
26.400 |
24.637 |
|
|
TOTAL BORROWING |
90.798 |
41.352 |
24.637 |
|
|
DEFERRED TAX LIABILITIES |
2.383 |
1.276 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
142.741 |
62.923 |
33.358 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
84.647 |
27.635 |
23.323 |
|
|
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 |
35.106
|
10.838
|
0.000
|
|
|
Sundry Debtors |
42.195
|
21.944
|
0.960
|
|
|
Cash & Bank Balances |
1.648
|
1.050
|
0.306
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
15.362
|
5.897
|
9.134
|
|
Total
Current Assets |
94.311
|
39.729
|
10.400
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
4.017
|
0.361
|
|
|
Other Current Liabilities |
|
0.424
|
0.000
|
|
|
Provisions |
0.000
|
0.000
|
0.004
|
|
Total
Current Liabilities |
36.217
|
4.441
|
0.365
|
|
|
Net Current Assets |
58.094
|
35.288
|
10.035
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
142.741 |
62.923 |
33.358 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
214.235 |
75.135 |
0.000 |
|
|
|
Other Income |
1.239 |
0.380 |
0.008 |
|
|
|
TOTAL |
215.474 |
75.515 |
0.008 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material |
150.951 |
61.811 |
0.000 |
|
|
|
Cost of Consumable Used |
0.606 |
0.193 |
0.000 |
|
|
|
Administrative Expenses |
14.178 |
3.924 |
0.000 |
|
|
|
Manufacturing Expenses |
11.252 |
7.725 |
0.000 |
|
|
|
Selling Expenses |
4.255 |
1.060 |
0.000 |
|
|
|
Increase/Decrease in Stock |
2.294 |
(7.855) |
0.000 |
|
|
|
TOTAL |
183.536 |
66.858 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
31.938 |
8.657 |
0.008 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.019 |
0.445 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
28.919
|
8.212 |
0.008 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.547 |
4.079 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
20.372 |
4.133 |
0.008 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.107 |
1.279 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
19.265 |
2.854 |
0.003 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.854 |
5.517 |
5.514 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
22.119 |
2.854 |
5.517 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
74.10 |
17.84 |
0.02 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
400.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.600.000 Millions
The above information has been parted by Mr. Mr. Rajesh
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.94 |
3.77
|
37.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.51 |
5.50
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.38 |
5.50
|
0.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.20
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.56 |
2.25
|
2.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60 |
8.94
|
28.49 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
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) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U17200MH1976PTC018832 |
|
Name of the
company |
PLASTEX PRODUCTS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Haria Centre 8, Subhash Road, Mumbai – 400057, Maharashtra, India E-mail Id : accounts@hariagroup.com |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10196731 |
|
Type of charge |
Movable Property
( not being pledge) |
|
Particular of
charge holder |
IDBI Bank Limited,
Specilzed Corporate Branch – MCG, 47 Opus Centre, Central Road, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra, India E-mail Id : rk.jeswani@idbi.co.in |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation dated 13th January, 2012. Sanction Letter
No. : IDBI/MCG/-Andheri/11-12 dated January 2, 2012 issued by the IDBI Bank
Limited. |
|
Date of
instrument Creating the charge |
13.01.2012 |
|
Amount secured by
the charge |
Rs 72.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest BBR + 475 bps
(Present effective rate is 15.50% p.a.) payable monthly. Terms of repayment Cash Credit : Repayable on Demand Letter of Credit : Honoring the commitments on Due Date Margin Letter of Credit : 15% Cash Margin Bank Guarantee : 25% Cash Margin Extent and
operation of the charge The present charge of Rs. 32.500 Millions (consisting of Rs. 30.000 Millions of Cash Credit facility and Rs. 2.500 Millions of Bank Guarantee) now stands increased to Rs. 72.500 Millions by grant of additional Working Capital of Rs. 30.000 Millions and Letter of Credit Rs.10.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Entire Current
Assets of the Company. |
|
Date of
instrument modifying the charge |
13/01/2012 |
|
Particulars of
the present modification |
The present charge
of Rs.32.500 Millions (consisting of Rs.30.000 Millions of Cash Credit
facility and Rs. 2.500 Millions of Bank Guarantee) now stands increased to
Rs. 72.500 Millions by grant of additional Working Capital of Rs. 30.000
Millions and Letter of Credit Rs.10.000 Millions. |
TRADE REFERENCES:
· JBM Industries Limited
· Citizen Synthetics Private Limited
FIXED ASSEST
·
Air Conditioner
·
Electrical Fittings
·
Furniture and Fixture
·
Plant and Machinery
·
Computer
·
Factory Equipment
·
Vehicle
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 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.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLP |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.