MIRA INFORM REPORT
|
Report Date : |
20.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
FLUIDLOGIC SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
11-12, Mahagujarat Industrial Nagar, N.H.8, Sarkhej - Bavla
Road, Village Moraiya, Taluka Sanand, Ahmedabad – 382213, Gujarat |
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
22.06.1994 |
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|
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|
Com. Reg. No.: |
04-022312 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs.4.940 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999GJ1994PTC022312 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer and Designer of Hydraulic Systems |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 190000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. Trade
relations 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 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 |
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. Amit Lakhani |
|
Designation : |
Key Executive |
|
Contact No.: |
91-9825412385 |
|
Date : |
19.10.2012 |
LOCATIONS
|
Registered Office : |
11-12, Mahagujarat Industrial Nagar, N.H.8, Sarkhej -
Bavla Road, Village Moraiya, Taluka Sanand, Ahmedabad – 382213, Gujarat,
India |
|
Tel. No.: |
91-79-25502528 |
|
Mobile No.: |
91-9825412385 (Mr. Amit Lakhani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Prafulchandra Chandulal Lakhani |
|
Designation : |
Managing Director |
|
Address : |
1,Shyam Shivam Bunglows, Near Shyamal-3/B, 100 Feet Road, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
22.04.1956 |
|
Date of Appointment : |
17.11.2011 |
|
DIN No.: |
01308588 |
|
|
|
|
Name : |
Mr. Rasiklal Chhotalal Patel |
|
Designation : |
Director |
|
Address : |
A-9, Jaldhara Society, Isanpur-Vatva Road, Ahmedabad – 382443, Gujarat, India |
|
Date of Birth/Age : |
05.05.1948 |
|
Date of Appointment : |
30.01.1996 |
|
DIN No.: |
01308602 |
|
|
|
|
Name : |
Mrs. Dayagauri Chandulal Lakhani |
|
Designation : |
Director |
|
Address : |
1,Shyam Shivam Bunglows, Near Shyamal-3/B, 100 Feet Road, Satellite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
05.09.1937 |
|
Date of Appointment : |
22.06.1994 |
|
DIN No.: |
01439354 |
|
|
|
|
Name : |
Mr. Calamur Jagannathan Sriram |
|
Designation : |
Director |
|
Address : |
H.No.104, 2nd Floor, A. G. Arcade, Transport Road, Sikh Village,
Diamond Point, Secunderabad – 500009, Andhra Pradesh, India |
|
Date of Birth/Age : |
12.11.1959 |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
00099417 |
|
|
|
|
Name : |
Mr. Debashis Basu |
|
Designation : |
Director |
|
Address : |
Flat No.302, Sai Santosh Residency, Street No.1, Tarnaka, Secunderabad
– 500017, Andhra Pradesh, India |
|
Date of Birth/Age : |
26.03.1954 |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
00231524 |
|
|
|
|
Name : |
Jurgen Rainer Maier |
|
Designation : |
Director |
|
Address : |
Baumgartenstrasse 5 Wannweil Germany 72827 |
|
Date of Birth/Age : |
03.09.1957 |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
03641998 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Lakhani |
|
Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Prafulchandra Chandulal Lakhani |
|
248140 |
|
Dayaben Chandulal Lakhani |
|
2110 |
|
Prafulla Prafulchandra Lakhani |
|
35000 |
|
Sanjay Chandulal Lakhani |
|
27500 |
|
Neela Sanjay Lakhani |
|
8000 |
|
Prafulchandra Chandulal Lakhani [For and on Behalf of Systems Engineers] |
|
55375 |
|
Shailesh Himatlal Dave |
|
43000 |
|
Swati Shailesh Dave |
|
41000 |
|
Rasikbhai Chhotalal Patel |
|
33875 |
|
Total |
|
494000 |
List of Allottees
As on 17.11.2011
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Voith Turbo Private Limited,
India |
|
147500 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Designer of Hydraulic Systems |
||||
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|
|
||||
|
Products : |
·
Hydraulic Power Pack ·
Hydraulic Manifold Blocks ·
Turnkey Projects
|
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
|
Unit |
*
Installed Capacity |
Actual
Production |
|
Hydraulic Power pack |
|
Nos. |
1200 |
1821 |
|
Manifold Block |
|
Nos. |
400 |
1306 |
|
Hydraulic Cylinders |
|
Nos. |
600 |
390 |
|
Pump Station Assembly |
|
Nos. |
50 |
32 |
|
Hydraulic Accumulator |
|
Nos. |
500 |
219 |
* As informed by the management
GENERAL INFORMATION
|
Customers : |
·
AIA Engineering Limited ·
Apollo Tyres Limited ·
Essar ·
Godrej Industries Limited ·
HMT Machines Tools Limited ·
IDMC Limited ·
Indo Count Industries Limited ·
Jindal Saw Limited ·
Larson and Toubro Limited ·
Bosch ·
Wipro ·
Ratnamani Metals and Tubes Limited |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
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No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Canara Bank, Bhadra Branch, Lal Darwaja,,
Ahmedabad – 380001, Gujarat, India ·
State Bank of India, S.G. Highway Branch,1,
Zodiac Square, Opposite Gurudwara, S.G. Highway, Thaltej,, Ahmedabad -
380054, Gujarat, India |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M R Pandhi and Associates Chartered Accountants |
|
Address : |
101, Panchdeep Complex, Mayur Colony, Near Mithakhali Six Roads,
Navrangpura,, Near Mithakhali Six Roads, Navrangpura, Ahmedabad –
380009, Gujarat, India |
|
Tel. No.: |
91-79-26564949 / 26420994 |
|
E-Mail : |
|
|
PAN No.: |
AABFM1229N |
|
|
|
|
Associates : |
·
Systems Engineers ·
Parts Trading Corporation |
CAPITAL STRUCTURE
After As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,50,000 |
Equity Shares |
Rs.10/- each |
Rs.6.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,41,500 |
Equity Shares |
Rs.10/- each |
Rs.6.415
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,00,000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,94,000 |
Equity Shares |
Rs.10/- each |
Rs.4.940
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 |
4.940 |
4.940 |
4.940 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
42.907 |
35.142 |
34.662 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
47.847 |
40.082 |
39.602 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
63.328 |
56.119 |
54.065 |
|
|
2] Unsecured Loans |
7.248 |
4.069 |
1.202 |
|
|
TOTAL BORROWING |
70.576 |
60.188 |
55.267 |
|
|
DEFERRED TAX LIABILITIES |
0.541 |
0.670 |
0.522 |
|
|
|
|
|
|
|
|
TOTAL |
118.964 |
100.940 |
95.391 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
61.974 |
62.296 |
19.338 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
28.683 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.010 |
0.010 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
60.220
|
42.292 |
40.977 |
|
|
Sundry Debtors |
46.568
|
39.333 |
27.544 |
|
|
Cash & Bank Balances |
1.730
|
1.470 |
2.478 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.547
|
2.090 |
3.609 |
|
Total
Current Assets |
113.065
|
85.185 |
74.608 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
52.617
|
45.712 |
24.332 |
|
|
Provisions |
3.468
|
0.839 |
2.916 |
|
Total
Current Liabilities |
56.085
|
46.551 |
27.248 |
|
|
Net Current Assets |
56.980
|
38.634 |
47.360 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
118.964 |
100.940 |
95.391 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Other Income |
256.224 |
146.101 |
171.113 |
|
|
|
TOTAL (A) |
256.224 |
146.101 |
171.113 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
184.461 |
109.169 |
125.634 |
|
|
|
Payment and Provisions for Employees |
20.925 |
11.671 |
13.671 |
|
|
|
Manufacturing Expenses |
9.220 |
7.455 |
7.876 |
|
|
|
Administrative and General Expenses |
8.056 |
5.150 |
8.144 |
|
|
|
Selling and Distribution Expenses |
4.214 |
1.814 |
2.937 |
|
|
|
Prior Period Adjustment |
0.651 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
227.527 |
135.259 |
158.262 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
28.697 |
10.842 |
12.851 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.820 |
4.963 |
3.453 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.877 |
5.879 |
9.398 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.408 |
5.168 |
2.931 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
12.469 |
0.711 |
6.467 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.704 |
0.231 |
2.085 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.765 |
0.480 |
4.382 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
27.692 |
27.212 |
22.830 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
35.457 |
27.692 |
27.212 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
23.879 |
7.011 |
7.011 |
|
|
TOTAL EARNINGS |
23.879 |
7.011 |
7.011 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
29.739 |
12.460 |
23.011 |
|
|
TOTAL IMPORTS |
29.739 |
12.460 |
23.011 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.72 |
0.97 |
8.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.03
|
0.33 |
2.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.87
|
0.49 |
3.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.12
|
0.48 |
6.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.02 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.65
|
2.66 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.83 |
2.74 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS:
Details of sundry creditors are not available.
|
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 |
Yes |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The registered office address of the company has been shifted from “464
Sarvodaya Comm Centre, Near G P O Salapose Road, Ahmedabad – 380001, Gujarat,
India” to the present address w.e.f. 31.08.2012.
PERFORMANCE OF THE
COMPANY:
This year has been
a truly remarkable year because the company recorded its highest ever turnover.
The sales and other income for the financial year were Rs.256.224 Millions as
against Rs.146.102 Millions for the previous financial year showing an increase
of 75.45% as compared to last year. The profit before interest, depreciation
and tax amounted to Rs.28.697 Millions as against Rs.108.42 and net profit
after tax of Rs.7.765 Millions as against Rs.0.480 Millions in previous year.
The increase in sales was due economic recovery that began in second half of
2009-10 and continued in 2010-11. Due to higher volume there was savings in
material cost and other overheads. Members will find the result satisfactory.
FUTURE OUTLOOK:
The company has a
clear focus of projecting itself a quality production house to cater the needs
of customers with widest Segment of user industries. This has been well
appreciated by the customers. To meet these objectives, your company has
created a state of art manufacturing facilities. The company has very good
order book position and company will continue its growth in the current year
also.
CONTINGENT
LIABILITIES:
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Performance Bank Guarantee given |
1.799 |
0.137 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate identity number of the company |
U74999GJ1994PTC022312 |
|
Name of the company |
FLUIDLOGIC SYSTEMS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
11-12, Mahagujarat Industrial Nagar, N.H.8, Sarkhej - Bavla Road, Village Moraiya, Taluka Sanand, Ahmedabad – 382213, Gujarat, India E-mail Id : systems@systemshydraulics.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10305234 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
State Bank of India, S.G.Highway Branch,1, Zodiac Square, Opposite Gurudwara, S.G. Highway, Thaltej,, Ahmedabad - 380054, Gujarat, India E-mail Id : vikas.khardia@sbi.co.in |
|
Nature of instrument creating charge |
Memorandum relating to Deposit of Title deeds for creation of charge for term loan/Overall limit dated 11th August 2011 |
|
Date of instrument Creating the charge |
11/08/2011 |
|
Amount secured by the charge |
Rs.94.600 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Working Capital-Base Rate + 4% Term Loan- Base Rate + 4.25% Terms of Repayment Working capital repayable on demand. Term loan repayment of 40 monthly installments of Rs.0.625 Millions started from the date of disbursment. Open term loan is repayable in 35 monthly installmetns of Rs.0.278 Million and 36th installment of Rs.0.270 Million starting from April, 2012. Margin Margin for Fund Based Inventories - 25% Receivable 90 Days - 50% Margin for Non Fund Based Letter of Credit - 25% Extent and Operation of the charge Charge is operate as first charge |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Hypothecation of all current assets of the company at 4a, Block No-389 Changodar Indus Estate, Tal : Sanand , District Ahmedabad and At Mahagujarat Industrial Estate Moraiya Tal : Sanand Hypothecation of all plant and machinery of the company at 4a , Block No-389 Changodar Indus Estate, Tal : Sanand , Dist : Ahmedabad and At Mahagujarat Industrial Estate Moraiya Tal : Sanand Equitable mortgage of immovable proprerty Block No. 389 Paiki Sub Plot No-4 Part Admeasuring 1234.50 Sq Yrd situated at Changodar Industrisal Estate At Changodar Village Taluka Sanand District Ahmedabad Equitable mortgage of immovable property Block No. 389 Paiki Sub Plot No- 4 And Sub Plot No-5 Admeasuring 670.50 Sq Ydr and 564 Sq Yds Respectively Aggregating to 1234.50 Sq Yds Situated at Changodar. Equitable mortgage of immovable property Block No.423 Paiki Sub Plot No-11 and Sub Plot No-12 Admeasuring 1972.93 Sq Mtrs At Moraiya, Taluka Sanand District Ahmedabad |
|
Particulars of the present modification |
The existing charge is on the movable assets of the company. By this modification the immovable properties belonging to the company are also charged to the bank by way of equitable mortgage to secure various facilities provided by the bank aggregating to Rs.94.600 Millions |
FIXED ASSETS:
· Air Conditioners
· Building
· Computers
· Electric Installation
· EPABX Systems
· Factory Equipments
· Factory Shed
· Fax Machine
· Furniture’s and Fixtures
· Lift
· Motor Car
· Pager
· Plant and Machinery
· Storage System
· Tea/Coffee Machine
· Telephone Instrument
· Testing Equipments
· Tools and Dyes
· Vehicles
· Water Cooler
· VMC Machine and Tools
· Weighing Scale
· Xerox Machine
· Software
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.53.72 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.70.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.