|
Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
NHAVA SHEVA INTERNATIONAL CONTAINER TERMINAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Darabshaw House, Level 1, Narottam Morarji Road, Ballard Estate,
Mumbai – 400038, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.03.1997 |
|
|
|
|
Com. Reg. No.: |
11-106790 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1781.559
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45203MH1997PTC106790 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN05939D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN0185H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of developing, operating, marketing
and managing container handling and unit loading/ unloading facilities at Jawaharlal
Nehru Port. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 17500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. There appears
some dip in the profitability of the company. However, general financial
position of the company is satisfactory. Trade relations are reported as
fair. Business is active. Payments are reported to be regular 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 |
ICRA |
|
Rating |
A1+ (Short Term: Non fund based limit) |
|
Rating Explanation |
The highest credit quality assigned by ICRA,
it carry lowest credit risk. Rating A1+ reflect their relatively stronger
credit quality. |
|
Date |
16.05.2012 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
A (Long Term Loan) |
|
Rating Explanation |
The adequate credit quality rating assigned
by ICRA. The rated instrument carries average credit risk. |
|
Date |
16.05.2012 |
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 DECLINED BY
|
Name : |
Mr. Murtuza |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-22610566 |
|
Date : |
03.10.2012 |
LOCATIONS
|
Registered Office : |
Darabshaw House, Level 1, Narottam Morarji Road, Ballard Estate,
Mumbai – 400038, Maharashtra, India |
|
Tel. No.: |
91-22-22610570/ 22610566 |
|
Fax No.: |
91-22-22621405 |
|
E-Mail : |
DIRECTORS
(AS ON 02.07.2012)
|
Name : |
Mr. Anil Satdev Singh |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Flat No.6, 5th Floor, Hill Park AG Bell Road, Malabar Hill,
Mumbai – 400006, Maharashtra India |
|
Date of Birth/Age : |
12.12.1954 |
|
Date of Appointment : |
15.12.2009 |
|
DIN No.: |
02728638 |
|
|
|
|
Name : |
Mr. Kevin James D Souza |
|
Designation : |
Director |
|
Address : |
1/3, Chokshi Mansion, Dr. B. Ambedkar Road, Parel, Mumbai – 400012,
Maharashtra, India |
|
Date of Birth/Age : |
21.08.1960 |
|
Date of Appointment : |
30.04.2008 |
|
DIN No.: |
00175176 |
|
|
|
|
Name : |
Mr. Devang Bhupendra Mankodi |
|
Designation : |
Director |
|
Address : |
7 Darpan Bhagat Singh Road, Juhu Vileparle, Juhu Vileparle (West),
Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1968 |
|
Date of Appointment : |
30.04.2008 |
|
DIN No.: |
00139006 |
|
Voter ID No.: |
MT/08/038/0405730 |
|
|
|
|
Name : |
Mr. Anil Rajan Wats |
|
Designation : |
Director |
|
Address : |
Villa # 76 Street # 25C UMM Suqeim 1, United Arab Emirates, Dubai 1 |
|
Date of Birth/Age : |
13.04.1957 |
|
Date of Appointment : |
30.04.2008 |
|
DIN No.: |
00888308 |
|
|
|
|
Name : |
Mr. Ennarasu Karunesan |
|
Designation : |
Director |
|
Address : |
Block 1, 88 Rani Meyyammai Towers, MRC Nagar RA Puram, Chennai –
600028, Tamilnadu, India |
|
Date of Birth/Age : |
27.07.1966 |
|
Date of Appointment : |
22.07.2009 |
|
DIN No.: |
0020432 |
|
|
|
|
Name : |
Mr. Alpesh Abhay Sharma |
|
Designation : |
Director |
|
Address : |
401, Kohinoor-1, Opposite Millat Nagar, Oshiwara, Andheri (West),
Mumbai - 400053, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1969 |
|
Date of Appointment : |
20.09.2011 |
|
DIN No.: |
03573036 |
KEY EXECUTIVES
|
Name : |
Mr. Aparna Nakul Chablani |
|
Designation : |
Company Secretary |
|
Address : |
Plot No.10, 18-A, Khar – Danda, Khar (West), Mumbai – 400052,
Maharashtra, India |
|
Date of Birth/Age : |
31.03.1968 |
|
Date of Appointment : |
14.10.1999 |
|
DIN No.: |
AADPJ2412J |
|
|
|
|
Name : |
Mr. Alpesh Sharma |
|
Designation : |
Chief
Executive Officer |
|
Email : |
|
|
|
|
|
Name : |
Mr. Daraius Dadachanji |
|
Designation : |
Chief Operating
Officer |
|
Email : |
|
|
|
|
|
Name : |
Mr. Nazban Mehta |
|
Designation : |
General
Manager - Operations |
|
Email : |
|
|
|
|
|
Name : |
Mr. Rahul Acharekar |
|
Designation : |
Manager –
Customer Relations and Marketing |
|
Email : |
|
|
|
|
|
Name : |
Mr. Sanjay Chitale |
|
Designation : |
General
Manager - Information Technology |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 02.07.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
South Asia Ports Limited, Mauritius |
|
163910916 |
|
Anil Satdev Singh |
|
8 |
|
|
|
|
|
Total |
|
163910924 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of developing, operating, marketing
and managing container handling and unit loading/ unloading facilities at
Jawaharlal Nehru Port. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
|
|
|
Financial
Institution : |
· Infrastructure Development Finance Company Limited KRM Tower, 8th Floor,
No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamil Nadu, India · Infrastructure Development Finance Company Limited ITC Centre, 3rd Floor, 760, Anna Salai, Chennai – 600002, Tamilnadu,
India |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N.M. Joshi Marg,
Mahalaxmi, Mumbai - 400 011,
Maharashtra, India |
|
PAN No.: |
AAIFB0630K |
|
|
|
|
Holding Company : |
· South Asia Ports Limited, Mauritius |
CAPITAL STRUCTURE
(AS ON 02.07.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Share |
Rs.10/- each |
Rs.3000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
163910924 |
Equity Share |
Rs.10/- each |
Rs.1639.109
Millions |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Share |
Rs.10/- each |
Rs.3000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
178155924 |
Equity Share |
Rs.10/- each |
Rs.1781.559
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 |
1781.559 |
2094.249 |
1395.125 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2586.503 |
3137.160 |
4051.599 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4368.062 |
5231.409 |
5446.724 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1800.000 |
975.000 |
0.000 |
|
|
2] Unsecured Loans |
12.344 |
589.303 |
1418.976 |
|
|
TOTAL BORROWING |
1812.344 |
1564.303 |
1418.976 |
|
|
DEFERRED TAX LIABILITIES |
706.616 |
741.044 |
912.097 |
|
|
|
|
|
|
|
|
TOTAL |
6887.022 |
7536.756 |
7777.797 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4151.380 |
4808.811 |
5509.275 |
|
|
Capital work-in-progress |
0.000 |
20.922 |
0.748 |
|
|
|
|
|
|
|
|
INVESTMENT |
55.221 |
1530.200 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
77.390
|
69.739 |
83.132 |
|
|
Sundry Debtors |
102.229
|
123.485 |
160.433 |
|
|
Cash & Bank Balances |
2.622
|
22.324 |
3.858 |
|
|
Other Current Assets |
66.768
|
59.221 |
55.587 |
|
|
Loans & Advances |
3726.427
|
2123.347 |
2980.306 |
|
Total
Current Assets |
3975.436
|
2398.116 |
3283.316 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
313.490
|
322.858 |
290.829 |
|
|
Other Current Liabilities |
815.381
|
745.672 |
587.934 |
|
|
Provisions |
166.144
|
152.763 |
136.779 |
|
Total
Current Liabilities |
1295.015
|
1221.293 |
1015.542 |
|
|
Net Current Assets |
2680.421
|
1176.823 |
2267.774 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6887.022 |
7536.756 |
7777.797 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5676.627 |
5279.067 |
5638.568 |
|
|
|
Other Income |
NA |
327.239 |
172.395 |
|
|
|
TOTAL |
NA |
5606.306 |
5810.963 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
4882.530 |
4846.351 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
723.776 |
964.612 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
(171.027) |
(371.041) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
384.289 |
894.803 |
1335.653 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
4999.140 |
4736.934 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Spares and Consumed |
27.111 |
17.879 |
21.911 |
|
|
|
Capital Goods |
31.332 |
0.000 |
2.346 |
|
|
TOTAL IMPORTS |
58.443 |
17.879 |
24.257 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.94 |
5.26 |
5.47 |
|
NOTE:
In the annual report the sales turnover figures for March 2011 mentioned
under performance are incorrect. The correct sales turnover figures are as
above.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
15.96 |
22.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
13.71 |
17.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
10.04 |
25.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.14 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.71
|
0.53 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.07
|
1.96 |
3.23 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
- Creditor due others |
313.490
|
322.858 |
290.829 |
|
|
|
|
|
|
Total |
313.490
|
322.858 |
290.829 |
|
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 |
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 |
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] |
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 |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
BACKGROUND
Subject was incorporated on 21 March 1997 under the companies Act, 1956.
Effective 3 July 1997, the company entered into a 30 year license agreement
with Jawaharlal Nehru Port Trust (‘JNPT’) to engaged in the business of
developing, operating, marketing and managing container handling and unit
loading/ unloading facilities at Jawaharlal Nehru Port.
PERFORMANCE
Company has
recorded revenue from operations of Rs.5676.627 Millions and a profit after tax
of Rs.384.289 Millions for 12 months period ended 31st, March, 2011 as against
revenue of Rs.5279.067 Millions and profit after tax of Rs.894.803 Millions the
previous period ended 31st, March 2010. The Balance in the Profit and Loss
account of Rs. 1841.191 Millions is being carried forward to the next year.
Company has
implemented various measures to meet the ever challenging business environment
by improving operational performance through new initiatives like Optimized
Berthing Window, various cost reduction Initiatives, 2 new twin lift spreaders
have been installed and commissioned etc.
SHARE CAPITAL:
Paid up equity
share capital of the Company stands to 178,155,924 equity shares of Rs.10 each
aggregating to Rs.1781.559 Millions from 209,424,924 equity shares of Rs.10
each aggregating to Rs.2094.249 Millions during the previous year, on account
of buy back of 31,269,000 equity shares.
In order to
enhance the shareholder value, Company implemented buy back of shares in
November 2010. Company bought back 31,269,000 equity shares of Rs.10 each fully
paid aggregating Rs.312.690 Millions at Rs. 39.90 which constitutes 14.93% of
the total existing paid-up equity share capital of the Company out of the
internal accruals and the free reserves of the Company. The total value of the
buyback of Equity Shares was Rs 1247.633 Millions.
FUTURE PERSPECTIVE
Company expects
that the EXIM Trade will further improve and this will boost the business
prospects. Company is gearing up to meet new challenges and is continuously
striving to improve efficiencies. Company is confident that it shall meet the
targets it has set for itself.
FINANCE
During the period
Company raised a long term loan of Rs.1000.000 Millions from IDFC for working
capital purpose and Company has created a mortgage on its movable amp; non
movable assets. Company parked short term surpluses with liquid mutual funds to
maximize the return on inflows from operations. Company continued with the
arrangement of pooling of funds to give loan to group companies and effectively
earn interest on the entire funds lying in its account.
CONTINGENT LIABILITIES NOT PROVIDED FOR
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In
millions) |
|
|
- claims against the Company not acknowledged as debts |
171.474 |
162.261 |
|
- dues of service tax disputed in appeal |
25.999 |
25.999 |
|
- dues of income tax disputed in appeal |
37.336 |
0.000 |
|
- guarantees issued in favour of Custom authorities by the bank on
behalf of the Company in the capacity of custodian of the cargo |
101.700 |
101.700 |
|
- performance and financial guarantees issued in favour of JNPT by the
bank on behalf of the Company |
1416.640 |
1334.840 |
FORM 8:
|
Corporate
identity number of the company |
U45203MH1997PTC106790 |
|
Name of the
company |
NHAVA SHEVA
INTERNATIONAL CONTAINER TERMINAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Darabshaw House,
Level 1 Narottam Morarji Road, Ballard Estate, Mumbai – 400038, Maharashtra,
India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Movable property (not being pledge) |
|
Particular of
charge holder |
Infrastructure
Development Finance Company Limited KRM Tower, 8th
Floor, No. 1, Harrington Road, Chetpet, Chennai – 600031, Tamilnadu, India |
|
Nature of
instrument creating charge |
Indenture of
Mortgage dated December 8,2010 creating Mortgage on all the Assets as given
in Schedule I thereto in favour of IDFC and shall be subject to prior charge
of the Board of Trustees of Jawarlal Nehru Port Trust (JNPT). |
|
Date of
instrument Creating the charge |
08.12.2010 |
|
Amount secured by
the charge |
Rs.1000.000
Millions |
|
Brief of the principal
terms and conditions and extent and operation of the charge |
Rate of
Interests: 2% p.a above the
Benchmark Rate prevailing on the date of each disbursement. Terms of
Repayment: Repayable as per
the amortisation schedule 7 of the Term Loan Facility Agreement dated May 3,
2010 between IDFC and the Company. Margin: 1.75 times of the
loan amount as set out in the Term Loan Facility Agreement dated May 3,
2010 between IDFC and the company. Extent and
operation of the charge: The fixed Charge subject
to prior charge of the Board of Jawaharlal Nehru Port Trust (JNPT) operates
as security for the due repayment of the IDFC's Loan of Rs.1000.000 Millions
together with interest, additional interest, liquidated damages, premia on
pre repayment, costs charges, expenses and all other monies payable by the
Company to IDFC in terms of the Term Loan Facility Agreement dated May 3,
2010 between IDFC and the Company. |
|
Particulars of
the property charged |
Property
specified in Schedule 1 to Indenture of Mortgage dt 8/12/2010 at Nhava Sheva
International Container Terminal Private Limited, Operations Centre, Sheva,
Navi Mumbai - 7. |
FIXED ASSETS:
· Building
· Plant and Machinery
· Furniture and Fittings
· Office Equipment
· Computers
· 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 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.52.21 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.67.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.