MIRA INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHIVAM IRON AND STEEL COMPANY LIMITED |
|
|
|
|
Registered
Office : |
20B, Abdul Hamid Street, 7th Floor, Black-7A, Kolkata – 700069, West
Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.09.1998 |
|
|
|
|
Com. Reg. No.: |
21-153383 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.226.109 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U00331WB1998PLC153383 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RCHS00811G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS1926J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of Iron and Steel Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
However, there exists risk related to the uncertainties in regard to the
availability of iron ore due to the recent steps taken by the State
Government to regulate iron ore mining in Odisha. Trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered normal for business dealing 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB+ (Term Loan and Working Capital
Facilities) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
January 2013 |
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/
Export Office/ Corporate Office/ Administrative Office : |
20B, Abdul Hamid Street, 7th Floor, Black-7A, Kolkata – 700069, West
Bengal, India |
|
Tel. No.: |
91-33-22137518/ 22137519/ 30287541/ 42/ 43 |
|
Fax No.: |
91-33-22137520 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
|
|
Tel. No.: |
91-6532-244182/ 244027 |
|
Tele Fax No.: |
91-6532-244082 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
At Chandwara, District Koderma |
|
E-Mail : |
|
|
|
|
|
Administrative Office : |
Kayani Apartment, 1st Floor Tah Complex, Gandhi Chowck,
Giridh – 815 301, |
|
Tel. No.: |
91-6632-250821 / 250073 |
|
Fax No.: |
91-6532-229326 / 225951 |
|
|
|
|
Branches : |
Located at: ·
Orissa ·
|
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Arun Kumar Agarwala |
|
Designation : |
Managing Director |
|
Address : |
Station Road, Giridih - 815301, Jharkhand, India |
|
Date of Birth/Age : |
01.08.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
26.07.2004 |
|
Voter ID No.: |
KDW0090242 |
|
PAN No.: |
ABPPA0122K |
|
DIN No.: |
00575599 |
|
|
|
|
Name : |
Mr. Binod Kumar Agarwala |
|
Designation : |
Director |
|
Address : |
Chowk Bazar, Giridih - 815301, Jharkhand, India |
|
Date of Birth/Age : |
03.01.1963 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.09.1998 |
|
Voter ID No.: |
BR/46/275/174455 |
|
PAN No.: |
ABPPA0123J |
|
DIN No.: |
00575464 |
|
|
|
|
Name : |
Mr. Pramod Kumar Agarwala |
|
Designation : |
Director |
|
Address : |
Chowk Bazar, Giridih - 815301, Jharkhand, India |
|
Date of Birth/Age : |
26.07.1966 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
16.09.1998 |
|
Voter ID No.: |
KDW0090226 |
|
PAN No.: |
ABPPA0125Q |
|
DIN No.: |
00575433 |
|
|
|
|
Name : |
Mr. Sanjay Kumar Jalan |
|
Designation : |
Director |
|
Address : |
Babhantoli, Giridih - 815301, Jharkhand, India |
|
Date of Birth/Age : |
30.07.1967 |
|
Date of Appointment : |
06.07.2012 |
|
DIN No.: |
00576987 |
|
|
|
|
Name : |
Mr. Shiv Kumar Agarwala |
|
Designation : |
Director |
|
Address : |
Chowk Bazar, Giridih- 815301, Jharkhand, India |
|
Date of Birth/Age : |
15.03.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.07.2001 |
|
PAN No.: |
ABQPA8327F |
|
Voter ID No.: |
KDW0884008 |
|
DIN No.: |
00575394 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Pramod Kumar Agarwala |
|
899980 |
|
Gopal Kumar Agarwala |
|
146500 |
|
Manoj Kumar Agarwal |
|
13500 |
|
Nawal Kishore Agarwal |
|
23500 |
|
Shakuntala Agarwala |
|
62000 |
|
Urmila Devi Agarwala |
|
44500 |
|
Binod Kumar Agarwala |
|
1555240 |
|
Sudha Agarwala |
|
64900 |
|
Mania Devi Agarwala |
|
112850 |
|
Ramnivas Agarwala |
|
160350 |
|
Barkha Agarwala |
|
255800 |
|
Shiv Kumar Agarwala (H.U.F.) |
|
41000 |
|
Gopal Kumar Agarwala (H.U.F.) |
|
110000 |
|
Ramnivas Agarwala (H.U.F.) |
|
57500 |
|
Binod Kumar Agarwala (H.U.F.) |
|
80000 |
|
Meghna Agarwala |
|
28000 |
|
Dilip Kharkia |
|
10000 |
|
Atma Ram Agrawal |
|
10000 |
|
Arun Kumar Agarwala (H.U.F.) |
|
106000 |
|
Arun Kumar Agarwala |
|
982500 |
|
Pradip Kumar Agarwala |
|
10000 |
|
Alok Kumar Agarwala |
|
236000 |
|
Lila Devi Agarwala |
|
80600 |
|
Shiv Kumar Agarwala |
|
120000 |
|
Liska Trading Private Limited, |
|
685000 |
|
Marvellous Intra Private Limited, |
|
240000 |
|
Almal Financiers and Consultants Private Limited, |
|
3156600 |
|
Lilac Vinimay Private Limited, |
|
3893600 |
|
Benzmark Credit Capital Private Limited, |
|
2192000 |
|
Pawapuri Mercantile Private Limited, |
|
210000 |
|
Pramod Kumar Agarwala (H.U.F.) |
|
17000 |
|
Meena Agarwala |
|
62000 |
|
Alok Kumar Agarwala (H.U.F.) |
|
18000 |
|
Mubarak Cosmetics Private Limited, |
|
30000 |
|
Dherar Textiles Private Limited, |
|
3173600 |
|
Set Square Holdings Private Limited, |
|
3628800 |
|
Sanjay Kumar Jalan |
|
81600 |
|
Gaurav Kumar Jalan |
|
12000 |
|
|
|
|
|
Total |
|
22610920 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
76.11 |
|
Directors or relatives of directors |
|
23.59 |
|
Other top fifty shareholders |
|
0.30 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Iron and Steel Products. |
|
|
|
|
Products : |
·
TMT Bars ·
MS Ingot ·
MS Billets ·
Ferro Manganese ·
Silico Manganese ·
Pig Iron ·
Sponge Iron ·
·
MS Round ·
MS Flat ·
MS Channel ·
MS Joist ·
MS Angle ·
MS Channel ·
Stainless Steel |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kedia Agarwal and Associates Chartered Accountants |
|
Address : |
Tah Complex, Gandhi Chowk, Giridh - 815301, Jharkhand, India |
|
Tel. No.: |
91-6532-222639 |
|
Mobile No.: |
91-9431144160 / 9835505990 |
|
Fax No.: |
91-6532-222639 |
|
E-Mail : |
|
|
PAN No.: |
AACFK6368H |
|
|
|
|
Related Parties : |
CIN No.: U27310WB2007PLC114311
CIN No.: U28999WB2003PTC096948
CIN No.: U27109WB2004PTC099497
CIN No.: U00331WB2000PTC132700
CIN No.: U23109JH1993PTC005217 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22610920 |
Equity Shares |
Rs.10/- each |
Rs.226.109
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
226.109 |
157.410 |
128.890 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
912.056 |
611.805 |
460.873 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1138.165 |
769.215 |
589.763 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1520.713 |
1277.040 |
658.368 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1520.713 |
1277.040 |
658.368 |
|
|
DEFERRED TAX LIABILITIES |
18.253 |
13.347 |
7.405 |
|
|
|
|
|
|
|
|
TOTAL |
2677.131 |
2059.602 |
1255.536 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1045.326 |
612.397 |
203.517 |
|
|
Capital work-in-progress |
63.023 |
249.207 |
304.508 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1181.558
|
811.061 |
562.339 |
|
|
Sundry Debtors |
394.791
|
355.309 |
137.036 |
|
|
Cash & Bank Balances |
88.640
|
140.664 |
68.020 |
|
|
Other Current Assets |
60.895
|
33.873 |
0.000 |
|
|
Loans & Advances |
396.149
|
208.705 |
153.530 |
|
Total
Current Assets |
2122.033
|
1549.612 |
920.925 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
59.522
|
42.388 |
146.599 |
|
|
Other Current Liabilities |
493.729
|
309.226 |
26.815 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
553.251
|
351.614 |
173.414 |
|
|
Net Current Assets |
1568.782
|
1197.998 |
747.511 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2677.131 |
2059.602 |
1255.536 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3721.041 |
2606.569 |
1790.997 |
|
|
|
Other Income |
17.605 |
10.624 |
26.009 |
|
|
|
TOTAL (A) |
3738.646 |
2617.193 |
1817.006 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2497.546 |
1630.770 |
|
|
|
|
Purchases of stock-in-trade |
13.102 |
25.584 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(236.774) |
(94.247) |
|
|
|
|
Employee benefit expense |
45.434 |
32.579 |
|
|
|
|
Other expenses |
1076.432 |
828.256 |
|
|
|
|
TOTAL (B) |
3395.740 |
2422.942 |
1718.086 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
342.906 |
194.251 |
98.920 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
173.405 |
66.673 |
30.827 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
169.501 |
127.578 |
68.093 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
114.793 |
72.822 |
32.935 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
54.708 |
54.756 |
35.158 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
18.042 |
17.905 |
12.251 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.666 |
36.851 |
22.907 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
114.348 |
77.497 |
54.590 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
151.014 |
114.348 |
77.497 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
856.804 |
1002.343 |
851.447 |
|
|
TOTAL EARNINGS |
856.804 |
1002.343 |
851.447 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
363.029 |
370.019 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.32 |
2.86 |
2.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.98 |
1.41
|
1.26
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.47 |
2.10
|
1.96
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73 |
2.53
|
3.13
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.07
|
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.34 |
1.66
|
1.12
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.84 |
4.41
|
5.31
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
Note:
Registered office of the company has been shifted from Kalyani apartment,
Gandhi Chowk, Giridh – 815301, Jharkhand, India to the present address w.e.f.
08.09.2010
BUSINESS
PERFORMANCE:
The Company recorded a turnover of Rs. 3678.902 Millions during the year ended 31.03.2012 as against Rs.2577.762 Millions during the previous year. The operating and net profit before tax of the Company was Rs. 342.906 Millions and Rs.54.708 Millions respectively as against Rs. 183.225 Millions and Rs. 54.756 Millions during the previous year. The Company is continuing its efforts to increase its production levels so as to achieve higher volumes.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U00331WB1998PLC153383 |
|
Name of the
company |
SHIVAM IRON AND
STEEL COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
20B, Abdul Hamid Street, 7th Floor, Black-7A, Kolkata – 700069, West
Bengal, India E-mail: shivam76@rediffmail.com
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
80023081 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India, Overseas Branch, Kolkata, Samriddhi Bhavan, Block - A, 1, Strand Road, Kolkata - 700001, West Bengal, India E-mail: sbiobcal@cal3.vsnl.net.in
|
|
Nature of
instrument creating charge |
Memorandum of
Deposit for Creation of further Charge for Term Loan/Overall Limit where the
Initial Charge is Created by way of Mortgage by Deposit of Title Deeds. |
|
Date of instrument
Creating the charge |
02.01.2013 |
|
Amount secured by
the charge |
Rs.2183.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit : At
4.25% above Base Rate, present effective rate 14.00% p.a. with monthly rests.
For other limits:
As specified in the attached Form - C.5 dated 29.12.2012. Terms of
Repayment Working Capital
Limit is repayable on demand. The existing Term
Loans (I, III, IV, V and VI) are repayable as per existing terms of Sanction. Margin As stipulated by
the Bank for the respective assets from time to time. Cash Credit : Stocks,
Consumables, Stores, Spares : 25%, Receivables
(Domestic) (Cover period 30 days) : 40%, EPC/PCFC : 10%, Letter of Credit
(Usance period for Import LC-4 months and for Inland LC 3 months) : 15% and Bank Guarantee :
15%. Extent and
Operation of the charge The charge
operates as first charge basis on the whole of the mortgaged properties of
the Company as mentioned in Column No.15 to secure the maximum amount under
the said charge fixed at Rs.2183.500 Millions together with interest, costs
and charges thereon. Others The Borrower
shall not do or allow anything which may prejudice the security and shall
comply with the terms and conditions of the Agreements. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Land ad measuring
30.98 acres and 29.45 dec. together with buildings and erections thereon
including plant and machineries (both present and future) situated at Mouza
Jambad, Rautgadi and Bandi Digthu comprised in various Khata Nos. and Survery
Plot Nos. under Sale Deed Nos.7008, 6233, 6797, 10371,853, 4663, 2797, 7166,
7534, 7918, 7089,761, 7514, 9652 and 6799 as stated in the schedule of the
attached Memorandum of Deposit for extension of mortgage by way of
constructive delivery of Title Deed. |
|
Date of instrument
modifying the charge |
29.12.2012 |
|
Particulars of
the present modification |
By this
modification, charge on above mentioned mortgaged properties of the Company
situated at Mouza Jambad, Rautgadi and Bandi Digthu extended to secure the
enhanced overall limit of Rs.2183.500 Millions together with interest, costs
and charges thereon. All other terms
and conditions continue to remain as before in full force and effect. |
FIXED ASSETS:
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipments
- Computer equipments
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 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.54.65 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
INFORMATION DETAILS
|
Report Prepared by
: |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.