|
Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
CLEAR MIPAK PACKAGING SOLUTIONS LIMITED (w.e.f. 01.06.2010) |
|
|
|
|
Formerly Known
As : |
CLEAR PLASTICS LIMITED |
|
|
|
|
Registered
Office : |
C-130, Solaris I, Opposite L and T Gate No.6, Powai, Mumbai-400072,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.01.1986 |
|
|
|
|
Com. Reg. No.: |
11-038626 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 44.717 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH1986PLC038626 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC12227F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC4489N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of hdpe bottle, pet bottle, pet jar,
bottle caps, bucket, cosmetic packaging, pharmaceutical packaging |
|
|
|
|
No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. It has
achieved a better increase in its sales turnover during 2011. Trade relations are reported as decent. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
Ms. Jayshree |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-40016500 |
|
Date : |
04.09.2012 |
LOCATIONS
|
Registered Office : |
C-130, Solaris I, Opposite L and T Gate No.6, Powai, Mumbai-400072,
Maharashtra |
|
Tel. No.: |
91-22-40016500 / 42236252 |
|
Fax No.: |
91-22-28574665 |
|
E-Mail : |
|
|
|
|
|
Factory 1 (Unit MP) : |
A-1/912-913, GIDC, Umergaon, District Valsad-396171, Gujarat, India |
|
|
|
|
Factory 2 (Unit - Dadra) |
Survey No.259 /21/1, Demini Road, Arihant Indutrial Estate,
Dadra-396230, Silvasa, Union Territory |
|
|
|
|
Factory 3 (Unit I and II Naroli) : |
709/3/1/1, Vadfalia Bhilad Naroli Road, Naroli-396235, Union Territory
|
|
|
|
|
Factory 4 (Unit Sarigam - PPMF) : |
4615 / 4616 Plastic Zone No.46, Manda Village, GIDC, Sarigam-396155, |
|
Factory 5 (Unit PK) : |
Plot No.6-10, OIDC, Udyog Nagar Industrial Estate, Village Ringwada,
Daman-396210, Silvasa, Union Territory |
|
|
|
|
Factory 6 (Unit I & II Himachal Pradesh) : |
Khasra No.544/151, Village Dhana, Tehsil Malagarh, District
Solan-174101, Himachal Pradesh, India |
|
|
|
|
Factory 7 (Unit Sitarganj, Uttrakhand) : |
Plot No.D-63, Phase II, Eldeco Sidcul Industrial Park, Sitarganj,
Uttarakhand, India |
DIRECTORS
AS ON 29.07.2011
|
Name : |
Mr. Rameshchandra Shantilal Gandhi |
|
Designation : |
Chairman |
|
Address : |
Amee, Near Vinayak Society, Behind Akota Sadium, Opposite Sanskruti
Apartment, Vadodara-390020, Gujarat, India |
|
Date of Birth/Age : |
18.06.1929 |
|
Date of Appointment : |
08.01.2005 |
|
DIN No.: |
00199192 |
|
|
|
|
Name : |
Mr. Harshand Batuklal Desai |
|
Designation : |
Whole Time Director |
|
Address : |
527/A, 5th Floor, Ramlaxmi Niwas, 16th Road,
Khar (West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1942 |
|
Date of Appointment : |
29.04.2003 |
|
DIN No.: |
00024774 |
|
|
|
|
Name : |
Mr. Neeraj Mahesh Munjal |
|
Designation : |
Whole Time Director |
|
Address : |
A/302, Baronet Apartment, Lokhandeala Township, Akurli Road, Kandivali
(East), Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1968 |
|
Date of Appointment : |
02.06.2010 |
|
DIN No.: |
01918358 |
|
|
|
|
Name : |
Mr. Ashok Kumar Goyal |
|
Designation : |
Director |
|
Address : |
804, Victoria Classic, Off P K Road, Mulund (West), Mumbai-400080, Maharashtra,
India |
|
Date of Birth/Age : |
24.02.1951 |
|
Date of Appointment : |
16.04.2003 |
|
DIN No.: |
00007920 |
|
|
|
|
Name : |
Mr. Bhupendra Parsottam Dusara |
|
Designation : |
Director |
|
Address : |
A-403, Veena Sitar, Mahavir Nagar, Opposite Panchsheel Arcade,
Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Date of Birth/Age : |
0607.1963 |
|
Date of Appointment : |
16.04.2003 |
|
DIN No.: |
00007948 |
|
|
|
|
Name : |
Mr. Rajiv Trimbak Gandhe |
|
Designation : |
Director |
|
Address : |
Flat No.L2503, 5th Floor, Poonam Pragati Co-operative
Housing Society, Poonam Nagar, Off M C Road, Andheri (East), Mumbai-400093,
Maharashtra, India |
|
Date of Birth/Age : |
31.12.1958 |
|
Date of Appointment : |
27.10.2007 |
|
DIN No.: |
01882491 |
|
|
|
|
Name : |
Mr. Mahdendra Chottalal Sheth |
|
Designation : |
Director |
|
Address : |
51, Shivtirath No.1, 4/6, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
22.12.1948 |
|
Date of Appointment : |
16.04.2003 |
|
DIN No.: |
00056975 |
|
|
|
|
Name : |
Mr. Jatin Ramesh Shah |
|
Designation : |
Director |
|
Address : |
5/17, Dhanvantari Bhuvan, 143/B, August Kranti Road, Mumbai-400036,
Maharashtra, India |
|
Date of Birth/Age : |
22.05.1965 |
|
Date of Appointment : |
26.06.2010 |
|
DIN No.: |
00032475 |
KEY EXECUTIVES
|
Name : |
Ms. Jayshree |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.07.2011
|
Names of Shareholders |
No. of Shares |
|
Hitech Plast Limited, India |
1939016 |
|
Hitech Plast Limited, India |
743992 |
|
Ashok K Goyal (Nominee of Hitech Plast Limited, India) |
2 |
|
Ashwin S Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Jalaj A Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Hasit A Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Ina A Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Vita J Dani (Nominee of Hitech Plast Limited, India) |
1 |
|
Bhupendra P Dusara (Nominee of Hitech Plast Limited, India) |
2 |
|
Ramesh C Shah (Nominee of Hitech Plast Limited, India) |
2 |
|
Geetanjali Trading and Investment Private Limited, India |
1725014 |
|
Coatings Specialities (India) Limited, India |
63666 |
|
Jatin R Shah (Nominee of Hitech Plast Limited, India) |
1 |
|
TOTAL
|
4471700 |
AS ON 29.07.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of hdpe bottle, pet bottle, pet
jar, bottle caps, bucket, cosmetic packaging, pharmaceutical packaging |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Containers |
|
|
|
|
In-House |
MT |
11568 |
8708 |
|
Contract |
-- |
-- |
866 |
Notes:
(A)
Installed capacities are as certified by the management
on which auditors have relied.
(B)
All manufacturing units.
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan,
227/D, Nariman Point, Mumbai-400021, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Company Chartered Accountant |
|
Address : |
3-C Maker Bhavan, No.218, New Marine Lines, Mumbai-400020,
Maharashtra, India |
|
Tel. No.: |
91-22-66333558 / 59 / 60 |
|
Fax No.: |
91-22-66333561 / 22037935 |
|
Email : |
|
|
PAN No.: |
AABFS2985F |
|
|
|
|
Holding Company : |
Hitech Plast
Limited CIN No.: -
L28992MH1991PLC168235 Geetanjali
Trading and Investments Private Limited |
|
|
|
|
Fellow Subsidiaries : |
·
Coatings Specialities (India) Limited ·
Rangudyan Insurance Broking Services Limited |
|
|
|
|
Employee Benefit Fund Where Control Exists : |
·
Clear Plastics Employee’s Gratuity Trust |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9500000 |
Equity Shares |
Rs.10/- each |
Rs. 95.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4471700 |
Equity Shares |
Rs.10/- each |
Rs. 44.717
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 |
44.717 |
35.406 |
16.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
654.104 |
518.151 |
229.189 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
698.821 |
553.557 |
245.789 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
311.249 |
256.508 |
140.301 |
|
|
2] Unsecured Loans |
29.771 |
35.856 |
24.437 |
|
|
TOTAL BORROWING |
341.020 |
292.364 |
164.738 |
|
|
DEFERRED TAX LIABILITIES |
30.499 |
28.894 |
14.540 |
|
|
|
|
|
|
|
|
TOTAL |
1070.340 |
874.815 |
425.067 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
539.040 |
435.206 |
266.146 |
|
|
Capital work-in-progress |
73.842 |
47.064 |
13.807 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.100 |
1.100 |
1.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
215.306
|
144.985 |
52.402 |
|
|
Sundry Debtors |
308.280
|
276.609 |
89.332 |
|
|
Cash & Bank Balances |
33.441
|
27.912 |
5.990 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
65.266
|
64.239 |
35.859 |
|
Total
Current Assets |
622.293
|
513.745 |
183.583 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
100.627
|
70.426 |
23.510 |
|
|
Other Current Liabilities |
62.619
|
49.344 |
15.590 |
|
|
Provisions |
2.689
|
2.530 |
0.469 |
|
Total
Current Liabilities |
165.935
|
122.300 |
39.569 |
|
|
Net Current Assets |
456.358
|
391.445 |
144.014 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1070.340 |
874.815 |
425.067 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1409.431 |
832.688 |
512.645 |
|
|
|
Other Income |
14.708 |
11.206 |
4.598 |
|
|
|
TOTAL (A) |
1424.139 |
843.894 |
517.243 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
894.891 |
511.836 |
285.310 |
|
|
|
Manufacturing service costs |
199.566 |
120.785 |
69.352 |
|
|
|
Employee related expenses |
77.642 |
57.110 |
39.580 |
|
|
|
Administrative selling other expenses |
83.653 |
51.076 |
33.642 |
|
|
|
TOTAL (B) |
1255.752 |
740.807 |
427.884 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
168.387 |
103.087 |
89.359 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
36.404 |
31.421 |
21.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
131.983 |
71.666 |
68.236 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
68.951 |
50.801 |
36.460 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
63.032 |
20.865 |
31.776 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.315 |
10.153 |
10.129 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
42.717 |
10.712 |
21.647 |
|
|
|
|
|
|
|
|
|
Add |
Depreciation
Written Back for the Earlier Year |
0.000 |
0.000 |
22.485 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
92.446 |
52.408 |
8.276 |
|
|
|
|
|
|
|
|
|
|
Profit and Loss
Balance Mipak on Amalgamation |
0.000 |
29.326 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
135.163 |
92.446 |
52.408 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
13.218 |
0.770 |
1.512 |
|
|
TOTAL EARNINGS |
13.218 |
0.770 |
1.512 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
112.145 |
46.037 |
35.522 |
|
|
|
Capital Goods |
34.691 |
10.820 |
6.763 |
|
|
TOTAL IMPORTS |
146.836 |
56.857 |
42.285 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.19 |
4.99 |
13.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.00
|
1.27 |
4.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.47
|
2.51 |
6.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.43
|
2.20 |
7.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.04 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.77
|
0.80 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.75
|
4.20 |
4.64 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
17.755 |
11.972 |
0.000 |
|
Creditors due others |
82.872 |
58.454 |
23.510 |
|
TOTAL |
100.627 |
70.426 |
23.510 |
OPERATIONS
During the year,
the Company’s sales (including other operational income) increased by 69% to
Rs. 1424.100 Millions as compared to Rs. 843.900 Millions during the previous
year. The PBIDT increased to Rs. 168.400 Millions as compared to Rs. 103.000
Millions for the previous year, showing growth of 63%. Net profit after tax was
Rs. 42.700 Millions as compared to Rs. 10.700 Millions.
The interest cost
was Rs. 36.400 Millions as compared to Rs. 31.400 Millions, despite achieving
significant growth in sales turnover. During the year, the Company collected
the balance amount of Rs. 54 per share (including premium of Rs. 49 per share)
due on Rights Issue of shares made on 27th March 2010. This funds
infusion helped the Company in containing the interest cost.
FINANCE
The Company has
obtained sanction of Cash Credit Facilities of Rs. 250.000 Millions, from Kotak
Mahindra Bank Limited, to fund increased working capital requirements.
FORM 8
|
Corporate
identity number of the company |
U25202MH1986PLC038626 |
|
Name of the
company |
CLEAR MIPAK
PACKAGING SOLUTIONS LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-130, Solaris I, Opposite L and T Gate No.6, Powai, Mumbai-400072, Maharashtra |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10114047 |
|
Type of charge |
·
Immovable
property |
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227/D, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of
Deposit of Title Deeds |
|
Date of instrument
Creating the charge |
21.02.2012 |
|
Amount secured by
the charge |
Rs. 430.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per the terms
of Bank's sanction letter Terms of repayment As per the terms
of Bank's sanction letter Margin As per the terms
of Bank's sanction letter Extent and operation of the charge First and
exclusive charge by way of mortgage for Term Loan facilities and second charge
for working capital facilities over immovable properties of the company, in
favour of Kotak Mahindra Bank Limited as security for repayment of financial
facilities granted by the Bank to the Borrower. |
|
Short particulars
of the property charged (Including location of the property) |
All that piece
and parcel of land bearing No. D/63, Phase II, Eldeco Sidcul Ind.Park, Sitar
Ganj, bearing Khasra No. 11,13, Village, Marabarharana, Tehsil Sitarganj,
District Udham Singh Nagar, Uttaranchal adms 4382.25 Sq. Mtrs, together with
all buildings, structures and plant and machinery, if any affixed to the
earth or permanently affixed to something attached to the earth. Industrial land
admeasuring 4382.25 Sq. Mtrs, (approx) situated at and being plot No. D/64,
Phase II, Eldeco Sidcul Ind.Park near Chorgalia, Sitar Ganj, Udham Singh
Nagar, Uttaranchal and bearing Khasra No. 11,12,13,8, Village Marabarharana,
Tehsil Sitarganj. Industrial land
bearing Survey No.220/3/2, admeasuring 24.300 sq. mtrs. (approx) situated at
Village Naroli, Union territory of Dadra Nagar Haveli. All the above
more specifically mentioned in Schedule C to the Memorandum of Deposit of
Title Deeds |
|
Date of
instrument modifying the charge |
29.04.2009 |
|
Particulars of the
present modification |
Bank had granted
facility of Rs.3 Cr. to the Borrower, secured by Mortgage on Immovable
property at Plot D/63, Sitarganj, Uttaranchal on 27/06/2008.Bank had granted
additional facility of Rs.9.500 Millions on 29/04/09.Now Bank has granted
additional facilities of Rs.391.000 Millions and also additional security is
created on Immovable properties of the Company at Plot D/64 SitarGanj,
Uttaranchal and at S.No.220/3/2, Naroli, Union Territory Dadra Nagar Haveli
and said charge is modified and extended to the increased total facilities of
Rs.430.500 Millions. |
FIXED ASSETS
·
Freehold Land
·
Leasehold Land
·
Building
·
Mould
·
Plant and Machinery
·
Furniture
·
Computer
·
Office Equipments
·
Vehicles
·
Computer Software
·
Patent
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
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.