MIRA
INFORM REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
SATHYA AGENCIES PRIVATE LIMITED |
Principal Name 1 |
Mr. John Samuel Johnson Asaria |
|
Status |
Moderate |
Principal Name 2 |
Mr. John Samuel John Sathya |
|
|
|
Registration # |
18- 055479 |
|
Street Address |
370- A, |
||
|
Established Date |
24.02.2005 |
SIC Code |
-- |
|
Telephone# |
91-461-2324985 |
Business Style 1 |
Distributor |
|
Fax # |
91-461-4002985 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Home Appliances |
|
|
# of employees |
-- |
Product Name 2 |
Electronics |
|
Paid up capital |
Rs.20,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors 100% |
Banking |
State Bank of |
|
Public Limited Corp. |
-- |
Business Period |
7 Years |
|
IPO |
-- |
International Ins. |
-- |
|
Public |
-- |
Rating |
B (34) |
|
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 |
0,000 |
Current Liabilities |
119,218,000 |
|
Inventories |
153,890,000 |
Long-term Liabilities |
10,980,000 |
|
Fixed Assets |
17,963,000 |
Other Liabilities |
3,302,000 |
|
Deferred Assets |
528,000 |
Total Liabilities |
133,500,000 |
|
Invest& other Assets |
139,000 |
Retained Earnings |
19,020,000 |
|
|
|
Net Worth |
39,020,000 |
|
Total Assets |
172,520,000 |
Total Liab. & Equity |
172,520,000 |
|
Total Assets (Previous Year) |
104,101,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
1,060,647,000 |
Net Profit |
6,158,000 |
|
Sales(Previous yr) |
828,820,000 |
Net Profit(Prev.yr) |
3,536,000 |
|
Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SATHYA AGENCIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
370-A, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.02.2005 |
|
|
|
|
Com. Reg. No.: |
18-055479 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 20.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52334TN2005PTC055479 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRISO3152C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealers in all kinds of Home Appliances and Consumer Electronics |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Even though
the subject has achieved some growth in its sales turnover during 2011, the
profitability appears to be low. Financial condition still needs some improvement. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Head Office : |
370- A, |
|
Tel. No.: |
91-461-2324985 |
|
Fax No.: |
91-461-4002985 |
|
E-Mail : |
|
|
Area : |
4000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located At ·
Tuticorin ·
Kovilpatti ·
Sivakasi ·
Sattur ·
Eral palayamkottai ·
Tenkasi ·
Udangudi ·
Aruppukottai |
DIRECTORS
AS ON 16.06.2011
|
Name : |
Mr. John Samuel Johnson Asaria |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
16.03.1973 |
|
Date of Appointment : |
24.02.2005 |
|
DIN No.: |
00514937 |
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 |
U65191TN1987PTC014289 |
TUTICORIN
SATHIYA FINANCE PRIVATE LIMITED |
Managing
director |
05/12/1990 |
05/12/1990 |
Active |
NO |
|
2 |
U55101TN2003PTC052046 |
TUTICORIN
SATHYA PARK AND RESORTS PRIVATE LIMITED |
Managing
director |
01/12/2003 |
01/12/2003 |
Active |
NO |
|
3 |
U52334TN2005PTC055479 |
SATHYA
AGENCIES PRIVATE LIMITED |
Director |
24/02/2005 |
24/02/2005 |
Active |
NO |
|
4 |
U70101TN2007PTC064174 |
TUTICORIN
SATHYA DEVELOPERS PRIVATE LIMITED |
Managing
director |
05/07/2007 |
05/07/2007 |
Active |
NO |
|
5 |
U31900TN2008PTC067580 |
GMART
ELECTRONICS INDIA PRIVATE LIMITED |
Director |
01/05/2008 |
01/05/2008 |
Active |
NO |
|
6 |
U72200TN2008PTC068361 |
SATHYA
TECHNOSOFT INDIA PRIVATE LIMITED |
Director |
26/06/2008 |
26/06/2008 |
Active |
NO |
|
7 |
U65999TN2011PTC080176 |
TUTICORIN
SATHYA FINANCE AND INVESTMENT PRIVATE LIMITED |
Director |
15/04/2011 |
15/04/2011 |
Active |
NO |
|
Name : |
Mr. John Samuel John Sathya |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
19.05.1977 |
|
Date of Appointment : |
24.02.2005 |
|
DIN No.: |
00514683 |
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 |
U65191TN1987PTC014289 |
TUTICORIN
SATHIYA FINANCE PRIVATE LIMITED |
Director |
27/04/1987 |
27/04/1987 |
Active |
NO |
|
2 |
U55101TN2003PTC052046 |
TUTICORIN
SATHYA PARK AND RESORTS PRIVATE LIMITED |
Director |
01/12/2003 |
01/12/2003 |
Active |
NO |
|
3 |
U52334TN2005PTC055479 |
SATHYA
AGENCIES PRIVATE LIMITED |
Director |
24/02/2005 |
24/02/2005 |
Active |
NO |
|
4 |
U70101TN2007PTC064174 |
TUTICORIN
SATHYA DEVELOPERS PRIVATE LIMITED |
Director |
05/07/2007 |
05/07/2007 |
Active |
NO |
|
5 |
U65999TN2011PTC080176 |
TUTICORIN
SATHYA FINANCE AND INVESTMENT PRIVATE LIMITED |
Director |
15/04/2011 |
15/04/2011 |
Active |
NO |
|
Name : |
Mr. John Samuel Chrles Packisraj |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
25.06.1978 |
|
Date of Appointment : |
24.02.2005 |
|
DIN No.: |
00552341 |
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 |
U55101TN2003PTC052046 |
TUTICORIN
SATHYA PARK AND RESORTS PRIVATE LIMITED |
Director |
25/01/2005 |
25/01/2005 |
Active |
NO |
|
2 |
U52334TN2005PTC055479 |
SATHYA
AGENCIES PRIVATE LIMITED |
Director |
24/02/2005 |
24/02/2005 |
Active |
NO |
|
3 |
U70101TN2007PTC064174 |
TUTICORIN
SATHYA DEVELOPERS PRIVATE LIMITED |
Director |
05/07/2007 |
05/07/2007 |
Active |
NO |
|
4 |
U72200TN2008PTC068361 |
SATHYA
TECHNOSOFT INDIA PRIVATE LIMITED |
Director |
26/06/2008 |
26/06/2008 |
Active |
NO |
|
5 |
U65999TN2011PTC080176 |
TUTICORIN
SATHYA FINANCE AND INVESTMENT PRIVATE LIMITED |
Director |
15/04/2011 |
15/04/2011 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.06.2011
|
Names of Shareholders |
No. of Shares |
|
John Samuel Johnson Asaria |
5200 |
|
John Samuel John Sathya |
5200 |
|
John Samuel Chrles Packisraj |
5200 |
|
John Samuel Roselin Inbavalli |
4400 |
|
TOTAL
|
20000 |
AS ON 16.06.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealers in all kinds of Home Appliances and Consumer Electronics |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
City Union Bank Limited ·
52 East Car Street, Tuticorin-628002, Tamilnadu,
India ·
149, Big Street, Kumbakonam, Tanjore
District-612001, Tamilnadu, India ·
103, A/5-6, V.E. Road, Tuticorin-628002,
Tamilnadu, India ·
State Bank of India, Tuticorin Branch, 306, Beach
Road, Tuticorin-628001, Tamilnadu, India ·
ICICI Bank |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Tata Capital Financial Services Limited, One Forbes, Dr. V B Gandhi
Marg, Fort, Mumbai-400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Samsudeen and Zubair Chartered Accountant |
|
Address : |
33A, V E Road, Titocoirn, Tamilnadu- 628002, |
|
PAN No.: |
AALFS7680S |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.1000/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.1000/-
each |
Rs. 20.000
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 |
20.000 |
20.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
6.090 |
|
|
3] Reserves & Surplus |
19.020 |
12.863 |
8.337 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
39.020 |
32.863 |
24.427 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.980 |
3.129 |
2.562 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
10.980 |
3.129 |
2.562 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
2.437 |
|
|
|
|
|
|
|
|
TOTAL |
50.000 |
35.992 |
29.426 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.963 |
16.495 |
10.130 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.100 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.528 |
0.318 |
0.185 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
8.151
|
7.367 |
0.000 |
|
|
Cash & Bank Balances |
6.758
|
3.318 |
1.474 |
|
|
Other Current Assets |
113.606
|
59.807 |
74.739 |
|
|
Loans & Advances |
25.375
|
16.747 |
12.148 |
|
Total
Current Assets |
153.890
|
87.239 |
88.361 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
24.063
|
13.720 |
20.460 |
|
|
Other Current Liabilities |
95.155
|
51.199 |
46.590 |
|
|
Provisions |
3.302
|
3.190 |
2.249 |
|
Total
Current Liabilities |
122.520
|
68.109 |
69.299 |
|
|
Net Current Assets |
31.370
|
19.130 |
19.062 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.039 |
0.049 |
0.049 |
|
|
|
|
|
|
|
|
TOTAL |
50.000 |
35.992 |
29.426 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
986.800 |
828.820 |
|
|
|
|
Other Income |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.234 |
10.018 |
8.502 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.984 |
3.634 |
2.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
9.250 |
6.384 |
5.702 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.092 |
2.848 |
2.112 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
6.158 |
3.536 |
3.590 |
|
|
|
|
|
|
|
|
|
Less |
INCOME TAX FOR
EARLIER YEARS |
0.000 |
0.041 |
0.087 |
|
|
|
|
|
|
|
|
|
Add |
VAT CREDIT FOR
EALIER YEARS |
0.000 |
1.030 |
1.494 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.862 |
8.337 |
3.340 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
19.020 |
12.862 |
8.337 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
308 |
176 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.94
|
0.77 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.37
|
6.14 |
5.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.19 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.42
|
2.17 |
3.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.28 |
1.28 |
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 |
Yes |
|
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
two 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 |
No |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
No |
GENERAL REVIEW
During the year the Company reported its higher profit before tax of Rs.
9.250 Millions as against Rs. 6.383 Millions for the previous year, a growth of
44.90%. Turnover for the year ended 31st March 2011 was Rs. 986.800
Millions, reflects an increase of 26.54% over the previous year. The company
currently has 24 Branches all over Tamilnadu and 2 new branches were opened in
this financial year 2010-11.
FORM 8
|
Corporate
identity number of the company |
U52334TN2005PTC055479 |
|
Name of the
company |
SATHYA AGENCIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
370- A, Palayamkottai Road, Tuticorin- 628002, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10310126 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
City Union Bank Limited, 52 East Car Street, Tuticorin-628002,
Tamilnadu, India |
|
Nature of
instrument creating charge |
Hypothecation
Agreement dated 11-08-2012 Memorandum of
Title of Deposits dt 11-08-2012 Annexure of
Schedules Bank letter dt
11-08-2012 |
|
Date of
instrument Creating the charge |
11.08.2012 |
|
Amount secured by
the charge |
Rs. 190.350
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest As per Bank
Letter Terms of repayment As per Bank
Letter Margin As per Bank
Letter Extent and operation of the charge First and exclusive
charge on Hypothecation of Electronic Goods stored at 370 Palayamkottai Road
and other Branches and all book debts and Receivables arising out of genuine
trade transactions and outstanding not more than six months and intimated to
the bank from time to time Vacant Land situated at Maravan Madam Village
S.No.127/2b/2a Tuticorin to
Tirunelveli High Road. The movable assets and immovable assets as more fully
mentioned here in E form 8 shall form part of the charge. Other All other fixed
assets mentioned in the collateral list which is charged in the Memorandum of
Title of Deposits in the name of Directors
Sathya Developers Private Limited and Tuticorin Sathya Park and
Resorts Private Limited. Details of credit
facilities Amount in
Rs. Millions Cash Credit
115.000 Term Loan
75.350 Total
190.350 |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Electronic Goods stored at 370 Palayam Kottai Road Tuticorin All book debts
and Receivables arising out of genuine trade transactions and outstanding not
more than six months EM of Vacant Land
situated at Maravan Madam Village S.No.127/2b/2a Tuticorin to Tirunelveli High Road All other Assets
mentioned in the Memorandum of Title of Deposits offered as collateral for
the above said loan in the name of Directors of the company, Sathya Developers
Private Limited and Tuticorin Sathya Park resorts Private Limited shall
continue to remain on charge for the various credit facilities sanctioned to
the company and shall remain on charge till the final closure of the credit
facilities. |
|
Particulars of
the present modification |
First and
exclusive charge on Hypothecation of Electronic Goods stored at 370
Palayamkottai Road and other Branches and all book debts and Receivables
arising out of genuine trade transactions and outstanding not more than six
months and EM of the Vacant Land situated at Maravan Madam Village
S.No.127/2b/2a Tuticorin to Tirunelveli High Road. The movable and immovable
assets as more fully mentioned in E form 8 shall form part of the charge for
the revised facilities of Rs.190.350 Millions in favour of the Bankers |
FIXED ASSETS
·
Office Machinery
·
Plant and Machinery
·
Electrical Fittings
·
Furniture and Fixtures
·
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. 53.63 |
|
|
1 |
Rs. 86.17 |
|
Euro |
1 |
Rs. 69.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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.