|
Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
C A GALIAKOTWALA AND COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
125, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.12.1939 |
|
|
|
|
Com. Reg. No.: |
11-003046 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1939PTC003046 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10333B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC2925K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Cotton |
|
|
|
|
No. of Employees
: |
Not Available |
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 640000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are 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 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.
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 : |
125, |
|
Tel. No.: |
91-22-22843758 |
|
Fax No.: |
91-22-22048801 |
|
E-Mail : |
|
|
|
|
|
Administrative Office : |
66, Maker Chambers, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-22843758/ 22843772 |
|
Fax No.: |
91-22-22048801 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Harshad Chhotalal Sheth |
|
Designation : |
Director |
|
Address : |
7-B, Geetanjali Co-Operative Housing Society, Navroji Gamadia Cross
Road, Off Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
10.03.1942 |
|
Date of Appointment : |
29.08.1969 |
|
DIN No.: |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U51900MH1939PTC003046 |
C A GALIAKOTWALA
AND COMPANY PRIVATE LIMITED |
Director |
29-08-69 |
29-08-69 |
Active |
NO |
|
2 |
U24110MH1941PTC003381 |
ADVANCE
PAINTS PRIVATE LIMITED |
Managing
director |
24-05-73 |
24-05-73 |
Active |
NO |
|
3 |
U74999MH1947PLC005875 |
GALIAKOTWALA
ESTATE LTD |
Director |
22-08-86 |
22-08-86 |
Dormant |
NO |
|
4 |
U65910MH1990PLC058983 |
GALIAKOTWALA
INVESTMENT SERVICES LIMITED |
Director |
15-11-90 |
15-11-90 |
Active |
NO |
|
5 |
U29299MH1991PTC061083 |
GALIAKOTWALA
ENGINEERING COMPANY PRIVATE LIMITED |
Director |
08-04-91 |
08-04-91 |
Active |
NO |
|
6 |
U51900MH1996PTC095870 |
GALIAKOTWALA
INTERNATIONAL PRIVATE LIMITED |
Director |
03-01-96 |
03-01-96 |
Active |
NO |
|
7 |
U28992MH1997PTC107569 |
T AND
D GALIAKOT CONTAINERS PRIVATE LIMITED |
Director |
25-04-97 |
25-04-97 |
Active |
NO |
|
Name : |
Mr. Mahnedra Chhotalal Sheth |
|
Designation : |
Director |
|
Address : |
51, Shivtrirth No.1, |
|
Date of Birth/Age : |
22.12.1948 |
|
Date of Appointment : |
07.03.1986 |
|
DIN No.: |
00056975 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U51900MH1939PTC003046 |
C A
GALIAKOTWALA AND COMPANY PRIVATE LIMITED |
Director |
07-03-86 |
07-03-86 |
Active |
NO |
|
2 |
U24110MH1941PTC003381 |
ADVANCE
PAINTS PRIVATE LIMITED |
Director |
07-03-86 |
07-03-86 |
Active |
NO |
|
3 |
U65910MH1990PLC058983 |
GALIAKOTWALA
INVESTMENT SERVICES LIMITED |
Director |
15-11-90 |
15-11-90 |
Active |
NO |
|
4 |
U29299MH1991PTC061083 |
GALIAKOTWALA
ENGINEERING COMPANY PRIVATE LIMITED |
Managing
director |
08-04-91 |
08-04-91 |
Active |
NO |
|
5 |
L99999GJ1978PLC022924 |
GUJARAT
ORGANICS LIMITED |
Director |
23-05-95 |
23-05-95 |
Active |
NO |
|
6 |
U28992MH1997PTC107569 |
T
AND D GALIAKOT CONTAINERS PRIVATE LIMITED |
Director |
29-09-99 |
29-09-99 |
Active |
NO |
|
7 |
U25202MH1986PLC038626 |
CLEAR
MIPAK PACKAGING SOLUTIONS LIMITED |
Director |
16-04-03 |
16-04-03 |
Active |
NO |
|
8 |
U32100MH2005PTC154821 |
SUNDEEP
TECHNOLOGIES PRIVATE LIMITED |
Director |
15-07-05 |
15-07-05 |
Active |
NO |
|
9 |
U74999MH1947PLC005875 |
GALIAKOTWALA
ESTATE LIMITED |
Director |
03-10-06 |
03-10-06 |
Dormant |
NO |
|
Name : |
Mr. Dhiren Narendra Sheth |
|
Designation : |
Director |
|
Address : |
101, Khatau House, 15-A, |
|
Date of Birth/Age : |
03.12.1967 |
|
Date of Appointment : |
01.02.1992 |
|
DIN No.: |
00300136 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U51900MH1939PTC003046 |
C A
GALIAKOTWALA AND COMPANY PRIVATE LIMITED |
Director |
01-02-92 |
01-02-92 |
Active |
NO |
|
2 |
U91110MH1921NPL000940 |
COTTON
ASSOCIATION OF INDIA |
Director |
31-12-08 |
08-11-93 |
Active |
NO |
|
3 |
U51900MH1996PTC095870 |
GALIAKOTWALA
INTERNATIONAL PRIVATE LIMITED |
Director |
24-09-96 |
24-09-96 |
Active |
NO |
|
4 |
U28992MH1997PTC107569 |
T AND
D GALIAKOT CONTAINERS PRIVATE LIMITED |
Director |
29-09-99 |
29-09-99 |
Active |
NO |
|
5 |
U70100MH2003PTC142104 |
GALIAKOTWALA
PROPERTIES PRIVATE LIMITED |
Director |
18-10-03 |
18-10-03 |
Active |
NO |
|
Name : |
Mr. Manish Narendra Sheth |
|
Designation : |
Director |
|
Address : |
101, Khatau House, 15-A, |
|
Date of Birth/Age : |
25.05.1969 |
|
Date of Appointment : |
01.08.1994 |
|
DIN No.: |
00300201 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1941PTC003381 |
ADVANCE PAINTS
PRIVATE LIMITED |
Whole-time director |
09-02-92 |
09-02-92 |
Active |
NO |
|
2 |
U51900MH1939PTC003046 |
C A GALIAKOTWALA
AND COMPANY PRIVATE LIMITED |
Director |
01-08-94 |
01-08-94 |
Active |
NO |
|
3 |
U65910MH1990PLC058983 |
GALIAKOTWALA
INVESTMENT SERVICES LIMITED |
Director |
19-08-96 |
19-08-96 |
Active |
NO |
|
4 |
U51900MH1996PTC095870 |
GALIAKOTWALA
INTERNATIONAL PRIVATE LIMITED |
Director |
19-08-96 |
19-08-96 |
Active |
NO |
|
5 |
U74210MH1996PTC103804 |
GALIAKOTWALA
TECHNOLOGIES PRIVATE LIMITED |
Director |
06-11-96 |
06-11-96 |
Active |
NO |
|
6 |
U70100MH2003PTC142104 |
GALIAKOTWALA
PROPERTIES PRIVATE LIMITED |
Director |
18-10-03 |
18-10-03 |
Active |
NO |
|
7 |
U15140MH1969NPL014362 |
ALL INDIA
COTTONSEED CRUSHERS ASSOCIATION |
Director |
21-09-06 |
21-09-06 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Narendra Chhotalal Sheth |
3808 |
|
Harshad Chhotalal Sheth |
2352 |
|
Bakulesh Sheth |
1696 |
|
Mahnedra Chhotalal Sheth |
2144 |
|
Bhanumati Sheth |
384 |
|
Usha Sheth |
1264 |
|
Rekha Sheth |
928 |
|
Harsha Sheth |
608 |
|
Kanan Sheth |
160 |
|
Sandip Sheth |
1488 |
|
Manish Sheth |
1216 |
|
Dhiren Sheth |
1328 |
|
Sushant Sheth |
704 |
|
N. C. Sheth HUF |
640 |
|
H. C. Sheth HUF |
1040 |
|
B. C. Sheth HUF |
1040 |
|
M. C. Sheth HUF |
704 |
|
Galiakot Containers Limited, |
320 |
|
Bhanumati A Sheth |
1856 |
|
C. J. Sheth HUF |
320 |
|
TOTAL
|
24000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
1.33 |
|
Directors or relatives of Directors |
98.67 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Cotton |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Bank of India, Mumbai Overseas Branch, 70-80, M G
Road, Mezzanine Floor, Fort, Mumbai-400001, Maharashtra, India ·
Union Bank of India, Mumbai Samachar Marg Branch,
66/80, Fort, Mumbai-400023, Maharashtra, India ·
State Bank of India ·
American Express Bank ·
ABN Amro Bank N. V. |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. W. Ketkar and Company Chartered Accountants |
|
Address : |
4, Soukhya, V. N. Purav Marg, Chunabhatti, Mumbai – 400022,
Maharashtra, India |
|
PAN No.: |
AAFPK2543M |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000 |
Equity Shares |
Rs.100/-
each |
Rs. 2.400
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 |
2.400 |
2.400 |
2.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
159.985 |
156.019 |
155.811 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
162.385 |
158.419 |
158.211 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
125.177 |
91.538 |
67.815 |
|
|
2] Unsecured Loans |
0.923 |
0.908 |
0.913 |
|
|
TOTAL BORROWING |
126.100 |
92.446 |
68.728 |
|
|
DEFERRED TAX LIABILITIES |
0.478 |
0.518 |
0.588 |
|
|
|
|
|
|
|
|
TOTAL |
288.963 |
251.383 |
227.527 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.622 |
10.270 |
11.144 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
27.281 |
13.653 |
34.093 |
|
|
DEFERREX TAX ASSETS |
0.037 |
0.003 |
0.087 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
408.645
|
182.638
|
98.569
|
|
|
Sundry Debtors |
47.573
|
128.638
|
89.021
|
|
|
Cash & Bank Balances |
2.849
|
3.997
|
30.247
|
|
|
Other Current Assets |
209.444
|
203.867
|
203.648
|
|
|
Loans & Advances |
0.141
|
0.166
|
0.111
|
|
Total
Current Assets |
668.652
|
519.306 |
421.596 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22.609
|
27.445
|
70.842
|
|
|
Other Current Liabilities |
302.747
|
175.360
|
80.303
|
|
|
Provisions |
91.273
|
89.044
|
88.248
|
|
Total
Current Liabilities |
416.629
|
291.849 |
239.393 |
|
|
Net Current Assets |
252.023
|
227.457
|
182.203
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
288.963 |
251.383 |
227.527 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.015 |
3.529 |
4.749 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.894 |
1.107 |
1.105 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.121 |
2.422 |
3.644 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.810 |
1.795 |
1.775 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.311 |
0.627 |
1.869 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.738 |
0.530 |
0.047 |
|
|
|
|
|
|
|
|
|
|
Provision for
deferred tax excess provision for income tax |
0.074 |
0.000 |
0.018 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.360 |
0.360 |
1.200 |
|
|
|
Dividend Tax |
0.058 |
0.059 |
0.204 |
|
|
|
Transfer to General Reserve |
0.629 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4.076 |
0.738 |
0.530 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Sale of Cotton |
689.179 |
189.188 |
NA |
|
|
|
Import Commission Received |
19.345 |
22.910 |
NA |
|
|
TOTAL EARNINGS |
708.524 |
212.098 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
179.63 |
77.88 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.90
|
0.46
|
0.84
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.02
|
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.35
|
2.43
|
1.95
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.78
|
1.76
|
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 |
No |
|
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) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
FORM 8
|
Corporate
identity number of the company |
U51900MH1939PTC003046 |
|
Name of the
company |
C A GALIAKOTWALA
AND COMPANY PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
125, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10288347 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Union Bank of India Mumbai Samachar Marg Branch, 66//80, Mumbai Samachar Marg, Fort, Mumbai
– 400023, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Deed |
|
Date of
instrument Creating the charge |
27.04.2011 |
|
Amount secured by
the charge |
Rs.451.700
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest as stated
in the Composite Hypothecation Deed Terms of Repayment On Demand Margin Nature of
Facility
Margin Import LC (DP/DA)
................... 10%+15% Letter of
Guarantee ................... 20% Cash Credit
(HYP.) .................... 25% (MILL GIN Stores) Packing
Credit
........................... 5% W/W Cash Credit
(Stock / .......... 25% Book Debts) Extent and Operation of the charge To secure an
aggregate amount of Rs.451.700 Millions granted by the bank as under :- Import LC (DP/DA)
: Rs.60.000 Millions Letter of
Guarantee : Rs.20.000 Millions Cash Credit
(Hypothecation) (Mill Gin Stores) :
Rs.1.200 Millions DBP / UDBP : Rs. 10.000 Millions CP / WAE : Rs. 0.500 Millions Packing Credit :
Rs. 280.000 Millions w/w Cash Credit (Stock / Book Debts) : (Rs.50.000
Millions) FDBP / FUDBP
(Under L/C Sight and/or 90 Days DA) : Rs.80.000 Millions w/w FDBP / FUDBP
(Under Conf. Contract) : (Rs.50.000 Millions) |
|
Short particulars
of the property charged |
The borrower
hypothecates by way of first charge in favour of the bank :- 1) the whole of
the borrower's movable goods and assets both present and future including all
stocks of raw materials, work in progress, semi finished and finished goods such as cotton, cotton
waste, cotton fabrics, almonds, etc. packing materials, consumable stores and
spares etc. situate at Bhatinda, Hissar, Ganganagar, Ahmedabad, Rajkot, Akda, Aurangabad,
Parbhani, Indore, Adilabad, Guntur, Hubli, Madurai, Mumbai or in the Godowns
of the borrower or in course of transit or wherever else the same may be 2) All the
present and future book debts, outstanding, monies receivable, claims, bills,
contracts, engagements and securities which are due and owing to the borrower
in the course of its business by any person, firm, company or body corporate
or by the Government of India or any state government or Indian Railways or
any government department or office or any municipal or local or (public or
semi government body or authority whatsoever including those relating to the
assets leased out and/or given on hire purchase. |
|
Particulars of the present modification |
The Total Limit
has enhanced from Rs.316.700 Millions to Rs.451.700 Millions. |
FIXED ASSETS
·
Land and Building
·
Office Premises and Godown
·
Office Equipment and Machinery
·
Furniture
·
Vehicles
·
Computers
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 records 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. 55.45 |
|
|
1 |
Rs. 87.98 |
|
Euro |
1 |
Rs. 69.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.