MIRA
INFORM REPORT
|
Report Date : |
12.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
K H ARIND PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
No. 142/1, Trunk
Road, Perumugai Via Vellore, Vellore-632009, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.11.1986 |
|
|
|
|
Com. Reg. No.: |
18-013654 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 12.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18209TN1986PTC013654 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEK00318D |
|
|
|
|
Legal Form : |
Private Limited
Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturers and
exporters of Leather Gloves (Fashion Gloves) and other Leather
Accessories. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Company
is performing well. Trade relations are reported to be fair. Business is
active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal business dealings 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A3+ (Short Term, Fund Based Limit) |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation. |
|
Date |
March 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.
LOCATIONS
|
Registered Office / Factory : |
No. 142/1, Trunk
Road, Perumugai Via Vellore, Vellore-632009, Tamilnadu, India |
|
Tel. No.: |
91-416-2253104 /
2253163 |
|
Fax No.: |
91-416-2253201 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Malack Ashraf Ali |
|
Designation : |
Director |
|
Address : |
8, Mara Street, Melvisharam, North Arcot District – 632 509,
Tamilnadu, India |
|
Date of Birth/Age : |
15.11.1975 |
|
Date of Appointment : |
01.04.1999 |
|
DIN No.: |
00171300 |
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 |
U19129TN1985PTC011821 |
RABIA
LEATHER INDUSTRIES PRIVATE LIMITED |
Director |
16/03/1998 |
16/03/1998 |
- |
Active |
NO |
|
2 |
U18209TN1982PTC009575 |
K.H.SHOES
PRIVATE LIMITED |
Director |
16/03/1998 |
16/03/1998 |
- |
Active |
NO |
|
3 |
U18209TN1990PTC019324 |
G K
LEATHER COMPANY PRIVATE LIMITED |
Director |
24/03/1998 |
24/03/1998 |
12/04/2012 |
Active |
NO |
|
4 |
U18209TN1986PTC013654 |
K H
ARIND PRIVATE LIMITED |
Director |
01/04/1999 |
01/04/1999 |
- |
Active |
NO |
|
5 |
U19116TN2002PTC048843 |
ZAK
LEATHER GARMENTS PRIVATE LIMITED |
Director |
29/04/2002 |
29/04/2002 |
- |
Active |
NO |
|
6 |
U19121TN2006PTC061217 |
MORINE
HANDBAGS PRIVATE LIMITED |
Director |
01/06/2007 |
01/06/2007 |
19/01/2011 |
Active |
NO |
|
Name : |
Mr. Malack Mohammed Thameem |
|
Designation : |
Director |
|
Address : |
6, Mara Street, Melvisharam, North Arcot District – 632 509,
Tamilnadu, India |
|
Date of Birth/Age : |
23.07.1963 |
|
Date of Appointment : |
06.11.1986 |
|
DIN No.: |
00171443 |
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 |
U19129TN1985PTC011821 |
RABIA
LEATHER INDUSTRIES PRIVATE LIMITED |
Director |
03/05/1985 |
03/05/1985 |
- |
Active |
NO |
|
2 |
U18209TN1986PTC013654 |
K H
ARIND PRIVATE LIMITED |
Director |
06/11/1986 |
06/11/1986 |
- |
Active |
NO |
|
3 |
U19119TN1987PTC014484 |
K H
EXPORTS PRIVATE LIMITED |
Director |
08/06/1987 |
08/06/1987 |
- |
Active |
NO |
|
4 |
U18209TN1989PTC016727 |
K H
SHOES ACESSORIES PRIVATE LIMITED |
Director |
10/01/1989 |
10/01/1989 |
- |
Active |
NO |
|
5 |
U18209TN1990PTC019324 |
G K
LEATHER COMPANY PRIVATE LIMITED |
Director |
20/06/1990 |
20/06/1990 |
12/04/2012 |
Active |
NO |
|
6 |
U18209TN1991PTC020628 |
K.H.OVERSEAS
TRADING COMPANY PRIVATE LIMITED |
Director |
16/04/1991 |
16/04/1991 |
- |
Active |
NO |
|
7 |
U18209TN1982PTC009575 |
K.H.SHOES
PRIVATE LIMITED |
Director |
16/03/1998 |
16/03/1998 |
- |
Active |
NO |
|
8 |
U73100TN1991NPL021372 |
K.H.FOUNDATION |
Director |
29/07/1998 |
29/07/1998 |
- |
Active |
NO |
|
Name : |
Mr. Malack. Mohammed Hashim |
|
Designation : |
Chairman and Managing Director |
|
Address : |
8, Mara Street, Melvisharam, North Arcot District – 632 509,
Tamilnadu, India |
|
Date of Birth/Age : |
01.09.1939 |
|
Date of Appointment : |
06.11.1986 |
|
DIN No.: |
00171543 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U18209TN1982PTC009575 |
K.H.SHOES
PRIVATE LIMITED |
Director |
01/03/2009 |
14/09/1982 |
Active |
NO |
|
2 |
U19129TN1985PTC011821 |
RABIA
LEATHER INDUSTRIES PRIVATE LIMITED |
Director |
03/05/1985 |
03/05/1985 |
Active |
NO |
|
3 |
U18209TN1986PTC013654 |
K H
ARIND PRIVATE LIMITED |
Managing
director |
06/11/1986 |
06/11/1986 |
Active |
NO |
|
4 |
U19119TN1987PTC014484 |
K H
EXPORTS PRIVATE LIMITED |
Director |
08/06/1987 |
08/06/1987 |
Active |
NO |
|
5 |
U18209TN1989PTC016727 |
K H
SHOES ACESSORIES PRIVATE LIMITED |
Director |
10/01/1989 |
10/01/1989 |
Active |
NO |
|
6 |
U29309TN1989PLC017370 |
RANIPET
TANNERY EFFLUENT TREATMENT COMPANY LIMITED |
Director |
31/05/1989 |
31/05/1989 |
Active |
NO |
|
7 |
U18209TN1991PTC020628 |
K.H.OVERSEAS
TRADING COMPANY PRIVATE LIMITED |
Director |
16/04/1991 |
16/04/1991 |
Active |
NO |
|
8 |
U73100TN1991NPL021372 |
K.H.FOUNDATION |
Director |
06/09/1992 |
06/09/1992 |
Active |
NO |
|
9 |
U45203TN2002PTC049343 |
RANIPET
INFRASTRUCTURE DEVELOPMENT ORGANISATION PRIVATE LIMITED |
Director |
31/07/2002 |
31/07/2002 |
Active |
NO |
|
10 |
U93090TN1996NPL035469 |
INDIAN
LEATHER INDUSTRY FOUNDATION |
Director |
24/08/2006 |
24/08/2006 |
Active |
NO |
|
11 |
U93000TN2008NPL068574 |
CHENNAI
ENVIRONMENTAL MANAGEMENT COMPANY OF TANNERS |
Director |
15/07/2008 |
15/07/2008 |
Active |
NO |
|
12 |
U19115TN2010PTC078518 |
H
AND S LEATHER CREATIONS PRIVATE LIMITED |
Director |
22/12/2010 |
22/12/2010 |
Active |
NO |
|
Name : |
Mr. Malack Mohammed Shameem |
|
Designation : |
Director |
|
Address : |
5, Khizarabad, 2nd Street, Melvisharam, North
Arcot-632509, Tamilnadu, India |
|
Date of Birth/Age : |
28.05.1961 |
|
Date of Appointment : |
06.11.1986 |
|
Date of Cessation : |
09.08.2012 |
|
DIN No.: |
00185163 |
|
|
|
|
Name : |
Mr. M. Junaid
Ahmed |
|
Designation : |
Whole time Director |
|
Address : |
4, Khizarabad, 2nd Street, Melvisharam, North
Arcot-632509, Tamilnadu, India |
|
Date of Birth/Age : |
15.06.1960 |
|
Date of Appointment : |
06.11.1986 |
|
DIN No.: |
01125364 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
M. Mohammed
Hashim |
200000 |
|
M. Mohammed
Shameen |
120000 |
|
M. Mohammed
Tameem |
120000 |
|
G . Mohamed
Kaleemullah |
22000 |
|
M Mohamed Ibrahim |
120000 |
|
M Zahir Hussain |
120000 |
|
M Abdul Wahab |
120000 |
|
M Ashraf Ali |
120000 |
|
M. Junaid Ahmed |
18000 |
|
M Rabia Banu |
60000 |
|
M Hajira Banu |
60000 |
|
M. Khutaija Banu |
60000 |
|
M Ameerunnisa |
60000 |
|
TOTAL
|
1200000 |
AS ON 29.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and
exporters of Leather Gloves (Fashion Gloves) and other Leather
Accessories. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
State Bank of India, Leather International
Branch, MVJ Towers, 177/1, P.H. Road, Kilpauk, Chennai-600010, Tamilnadu,
India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D Sampath Kumar and Company Chartered Accountant |
|
Address : |
No.5, South Boag Road, Thyagaraya Nagar, Chennai-600017, Tamilnadu,
India |
|
PAN No.: |
AADPK8086B |
|
|
|
|
Associates : |
·
KH Shoes Private Limited ·
Rabia Leather Industries Private Limited ·
KH Shoes Accessories Private Limited ·
KH Exports Private Limited ·
GK Leather Company Private Limited ·
Zak Leather Garments Private Limited ·
H and S Leather Creations Private Limited |
|
|
|
|
Other Related Parties : |
·
ATH Leder Fabrik ·
Geekay Leathers ·
Mumtaz Leathers ·
K H Retail Stores ·
Oriental Shoe Fabrik |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.10/- each |
Rs. 12.000
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 |
12.000 |
12.000 |
12.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
482.594 |
471.894 |
461.275 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
494.594 |
483.894 |
473.275 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
66.505 |
195.105 |
200.724 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
66.505 |
195.105 |
200.724 |
|
|
DEFERRED TAX LIABILITIES |
1.110 |
1.375 |
1.350 |
|
|
|
|
|
|
|
|
TOTAL |
562.209 |
680.374 |
675.349 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
114.665 |
111.072 |
99.958 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
34.274 |
328.378 |
355.571 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
390.128
|
271.323 |
277.472 |
|
|
Sundry Debtors |
65.133
|
31.390 |
18.328 |
|
|
Cash & Bank Balances |
4.876
|
8.238 |
7.231 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
28.897
|
14.339 |
26.067 |
|
Total
Current Assets |
489.034
|
325.290 |
329.098 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
110.228
|
120.930 |
142.258 |
|
|
Other Current Liabilities |
21.070
|
17.099 |
12.679 |
|
|
Provisions |
0.000
|
1.871 |
12.975 |
|
Total
Current Liabilities |
131.298
|
139.900 |
167.912 |
|
|
Net Current Assets |
357.736
|
185.390 |
161.186 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
55.534 |
55.534 |
58.634 |
|
|
|
|
|
|
|
|
TOTAL |
562.209 |
680.374 |
675.349 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
710.083 |
670.570 |
564.281 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
693.344 |
652.463 |
551.436 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
693.344 |
652.463 |
551.436 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
16.739 |
18.107 |
12.845 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.327 |
5.591 |
3.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
12.412 |
12.516 |
9.445 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
452.378 |
441.759 |
439.298 |
|
|
|
|
|
|
|
|
|
|
Earlier Year
Taxes Written Off |
1.712 |
1.897 |
6.984 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
463.078 |
452.378 |
441.759 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
499.136 |
584.641 |
515.810 |
|
|
TOTAL EARNINGS |
499.136 |
584.641 |
515.810 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
299.640 |
256.512 |
293.489 |
|
|
|
Stores & Spares |
1.931 |
2.185 |
1.975 |
|
|
|
Capital Goods |
0.000 |
1.451 |
15.825 |
|
|
TOTAL IMPORTS |
301.571 |
260.148 |
311.289 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.34 |
10.43 |
7.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.75
|
1.87 |
1.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.77
|
4.15 |
2.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.04 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.40
|
0.70 |
0.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.72
|
2.33 |
1.96 |
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 |
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) |
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 |
Yes |
NOTE
Registered office has been shifted from K. H. House 2, Thiru Narayana Guru Road, (Old Hunters Road), Choolai,
Chennai – 600 112, Tamilnadu, India to the present address w.e.f. 28.09.2009.
FINANCIAL HIGHLIGHTS
The Company
registered an export turnover of Rs. 510.000 Millions during the year.
PERFORMANCE REVIEW
The performance of
the company for the year ended 31st March 2011 was satisfactory. The
Board of Directors except more business and profitability in the forthcoming
years.
FORM 8
|
Corporate
identity number of the company |
U18209TN1986PTC013654 |
|
Name of the
company |
K H ARIND PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 142/1, Trunk Road, Perumugai Via Vellore, Vellore-632009, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90307142 |
|
Type of charge |
·
Immovable
property |
|
Particular of
charge holder |
State Bank of India, Leather International Branch, MVJ Towers, 177/1, P.H. Road, Kilpauk, Chennai-600010, Tamilnadu, India |
|
Nature of
instrument creating charge |
EM Letter |
|
Date of
instrument Creating the charge |
30.11.2010 |
|
Amount secured by
the charge |
Rs. 255.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per
Modification dated 17.03.2005. Terms of repayment As per
Modification dated 17.03.2005. Margin As per Modification
dated 17.03.2005. Extent and operation of the charge Exclusive first
charge Other Export Packing
Credit : Rs.170.000 Millions. Letters of
Credit : Rs.50.000
Millions. Stand by line
Credit : Rs.30.000 Millions. F.C : Rs.5.000
Millions. Total : Rs.255.000
Millions. |
|
Short particulars
of the property charged (Including location of the property) |
All that piece
and parcel of land situated at Perumugai Village, Vellore Panchayat Union,
North Arcot Ambedkar District, lying within the Sub Registration District
Vellore comprised in Survey No's 94/2C (48 cents), 94/5 (31 cents), 96/11 (24
cents), 96/12 (3 cents), 96/13 (82 cents), 96/14 (55 cents), 96/15 (1.25
cents), 99/2 (1.5 cents) to the extent of 2.45 acres belonging to M/s. K H
Arind Private Limited. as security to secure the limit of Rs.255.000
Millions. |
|
Date of
instrument modifying the charge |
17.03.2005 |
|
Particulars of
the present modification |
By the present
modification, The overall
credit facilities now has been reduced to Rs.255.000 Millions Export Packing
Credit : Rs.170.000 Millions. Letters of
Credit : Rs.50.000
Millions. Stand by line
Credit : Rs.30.000 Millions. F.C : Rs.5.000
Millions. Total : Rs.255.000
Millions. |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fittings
·
Vehicles
·
Computers
·
Other Assets
·
Capital WIP – Building
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. 53.07 |
|
|
1 |
Rs. 84.94 |
|
Euro |
1 |
Rs. 68.23 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.