MIRA
INFORM REPORT
|
Report Date : |
24.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMSONITE SOUTH ASIA PRIVATE LIMITED (w.e.f. 08.09.2004) |
|
|
|
|
Formerly Known
As : |
SAMSONITE INDIA
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat Nos 159 to 163, Village Gonde (Dumala), Taluka Igatpuri, Nashik – 422403, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
08.11.1995 |
|
|
|
|
Com. Reg. No.: |
11-094287 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.354.912 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19120MH1995PTC094287 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKS02903F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS8598L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer,
Importer and Exporter of Travel Accessories like Suitcases and Briefcase. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2880000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part
of Samsonite Group worldwide. It is an established company having
satisfactory track record. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A+ (Cash Credit) |
|
Rating Explanation |
Having adequate degree of safety regarding
timely servicing of financial obligation it carry low credit risk. |
|
Date |
July 2012 |
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 PARTED BY
|
Name : |
Mr. Vikas |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-2553-229700 |
|
Date : |
23.04.2013 |
LOCATIONS
|
Registered Office : |
Gat Nos 159 to 163, Village Gonde (Dumala), Taluka Igatpuri, Nashik –
422403, Maharashtra |
|
Tel. No.: |
91-2553-225131/
32/ 34 / 229700/ 229701/ 229702 / 229826 |
|
Fax No.: |
91-2553-225133 |
|
Email : |
|
|
Website : |
|
|
|
|
|
Head Office/ Corporate Office : |
402, Akruti Star, Opposite Akruti Centre Point, MIDC,
Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-33212600 /
11 |
DIRECTORS
As on: 30.06.2012
|
Name : |
Mr. Trimothy
Charles Parker |
|
Designation : |
Director |
|
Address : |
|
|
Date of
Birth/Age : |
19.06.1955 |
|
Date of
Appointment : |
26.03.2009 |
|
DIN No.: |
02796800 |
|
|
|
|
Name : |
Mr. Kyle Gendreau |
|
Designation : |
Director |
|
Address : |
4, Pearly Lane, Lot 6, |
|
Date of
Birth/Age : |
30.05.1969 |
|
Date of
Appointment : |
11.09.2009 |
|
DIN No.: |
03299058 |
|
|
|
|
Name : |
Mr. John Bayard
Livingston |
|
Designation : |
Director |
|
Address : |
25, |
|
Date of
Birth/Age : |
31.07.1967 |
|
Date of
Appointment : |
25.09.2010 |
|
DIN No.: |
03304474 |
|
|
|
|
Name : |
Mr. Subrata Dutta |
|
Designation : |
Managing Director |
|
Address : |
A 403 / 404, Dosti Elite, Sion (East), Mumbai - 400022, Maharashtra, India
|
|
Date of Birth/Age : |
18.09.1963 |
|
Qualification : |
B. Tech, PGDM |
|
Date of Appointment : |
13.03.2008 |
|
PAN No.: |
ADGPD1160R |
|
DIN No.: |
02004997 |
|
|
|
|
Name : |
Mr. Mahesh
Salamatrai Makhijani |
|
Designation : |
Director |
|
Address : |
5A, Space Venus
Apartment, Mahatma Nagar, Nashik - 422007, Maharashtra, India |
|
Date of
Birth/Age : |
26.01.1959 |
|
Date of
Appointment : |
26.06.2008 |
|
PAN No.: |
ACVPM2535R |
|
DIN No.: |
00322226 |
|
|
|
|
Name : |
Mr. Rajendra Vishwanath
Agarwal |
|
Designation : |
Director |
|
Address : |
408, Shantivan,
2-B, Raheja Township, Malad (East), Mumbai - 400097, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1962 |
|
Date of
Appointment : |
31.05.2000 |
|
DIN No.: |
00227233 |
|
|
|
|
Name : |
Mr. Yashwant
Muktinath Singh |
|
Designation : |
Director |
|
Address : |
A/P- Flat No. 25, Viraj, Co-Operative Housing Society,
Behind Rane Nagar, Nashik, Maharashtra – 422009, India |
|
Date of
Birth/Age : |
07.06.1963 |
|
Date of
Appointment : |
25.09.2010 |
|
PAN No.: |
AFCPF5539R |
|
DIN No.: |
03287145 |
KEY EXECUTIVES
|
Name : |
Mr. Vikas |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Samsonite Mauritius Limited, Mauritius |
|
21294740 |
|
Ramesh Tainwala |
|
1807020 |
|
Tainwala Chemicals and Plastics (India) Limited, India |
|
3069873 |
|
Tainwala Personal Care Products Private Limited, India |
|
1795000 |
|
Tainwala Holdings Private Limited, India |
|
556000 |
|
Rakesh Tainwala |
|
1433000 |
|
Rajkumar Tainwala |
|
226600 |
|
Katyayan Constructions and Developers Private Limited, India |
|
2500000 |
|
Amishi Tainwala |
|
620000 |
|
Periwinkle Fashions Private Limited, India |
|
2189000 |
|
|
|
|
|
Total |
|
35491233 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.06.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
60.00 |
|
Bodies corporate |
|
28.49 |
|
Other top fifty shareholders |
|
11.51 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Importer and Exporter of Travel Accessories like Suitcases and Briefcase. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
||||||
|
Countries : |
·
UAE ·
America ·
Europe |
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|
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Imports : |
|
||||||
|
Products : |
Raw Materials |
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|
Countries : |
·
Europe ·
America |
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Terms : |
|
||||||
|
Selling : |
Cash and Credit |
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||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
Luggage |
Nos. |
Delicensed |
312,000 |
661050 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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|
||||||||||||
|
No. of Employees : |
1000 (Approximately) |
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Bankers : |
Tel. No.: 91-22-26839173 |
||||||||||||
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|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st floor Apollo Mills Compound, N M Joshi Marg, Mahalaksmi, Mumbai-400011, Maharashtra, India |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Ultimate Holding Company |
· Samsonite Corporation, USA |
|
|
|
|
Holding
Company : |
· Samsonite Mauritius Limited, Mauritius |
|
|
|
|
Subsidiary of
Ultimate Holding Company and fellow subsidiary of Holding Company : |
· Samsonite Europe N.V. |
|
|
|
|
Associates/Subsidiaries
: |
· Samsonite Asia Limited - Hong Kong · Ningbo Samsonite Luggage Company, China · Samsonite Canada Inc. · Samsonite Hungary · Samsonite SA de CV Mexico · Samsonite Argentina · Samsonite UK · Samonite Sail IP Holdings · Samsonite Middle East FZCO · Samsonite Traveller SA, Chile · Samsonite Pacific Limited, Taiwan · Samsonite SPA. Italy · Samsonite Brazil · Samsonite LLC, P-usita · Samsonite Australia Pty. · Longberg Express S A Uruguay |
|
|
|
|
Joint Venture:
|
· Tainwala Chemicals and Plastics Limited CIN No.: L24100MH1985PLC037387 · Tainwala Holdings Private Limited CIN No.: U67120MH1991PTC060867 · Tainwala Tradsing and Investment Company Private Limited · Tainwala Personal Care Products Limited CIN No.: U24246MH1991PTC064613 · Tainwala Group · Katyayan Constructions and Developers Private Limited CIN No.: U45200MH1988PTC049046 · Periwinkle Fashion Private Limited CIN No.: U74994MH2004PTC144846 |
|
|
·
|
|
Other Related
Parties : |
· Abhishri Polycontainer Private Limited · Abhishri Packagers Private Limited · Samtain Sales Private Limited CIN No.: U51900MH1997PTC105387 · Bagznne Lifestyles Private Limited · Planet Retail Holdings Private Limited |
CAPITAL STRUCTURE
As on: 31.12.2011
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36000000 |
Equity Shares |
Rs. 10/- each |
Rs.360.000
Millions |
|
|
|
|
|
Issued,
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35491233 |
Equity Shares |
Rs. 10/- each |
Rs.354.912
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
354.912 |
354.912 |
354.912 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
365.296 |
196.948 |
205.620 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
720.208 |
551.860 |
560.532 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
185.969 |
185.016 |
83.701 |
|
|
2] Unsecured Loans |
184.429 |
8.766 |
39.951 |
|
|
TOTAL BORROWING |
370.398 |
193.782 |
123.652 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
26.277 |
|
|
|
|
|
|
|
|
TOTAL |
1090.606 |
745.642 |
710.461 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
474.274 |
423.193 |
447.187 |
|
|
Capital work-in-progress |
75.767 |
42.707 |
16.811 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
10.886 |
(11.775) |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1033.352
|
778.380 |
482.474 |
|
|
Sundry Debtors |
1250.145
|
654.330 |
585.596 |
|
|
Cash & Bank Balances |
76.299
|
106.813 |
77.835 |
|
|
Other Current Assets |
25.967
|
31.904 |
0.000 |
|
|
Loans & Advances |
376.881
|
410.048 |
250.566 |
|
Total
Current Assets |
2762.644
|
1981.475 |
1396.471 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1492.587
|
1141.882 |
933.339 |
|
|
Other Current Liabilities |
662.845
|
496.759 |
172.636 |
|
|
Provisions |
77.533
|
51.317 |
44.033 |
|
Total
Current Liabilities |
2232.965
|
1689.958 |
1150.008 |
|
|
Net Current Assets |
529.679
|
291.517 |
246.463 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1090.606 |
745.642 |
710.461 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5873.150 |
4240.640 |
2753.214 |
|
|
|
Export Incentives |
71.510 |
49.200 |
24.707 |
|
|
|
Other Income |
18.380 |
46.430 |
23.837 |
|
|
|
TOTAL (A) |
5963.040 |
4336.270 |
2801.758 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
1465.040 |
|
|
|
Personnel Expenses |
|
|
261.480 |
|
|
|
Selling, General and Administrative
Expenses |
|
|
705.440 |
|
|
|
TOTAL (B) |
5327.100 |
3884.800 |
2431.960 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
635.940 |
451.470 |
369.798 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
72.070 |
25.100 |
29.595 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
563.870 |
426.370 |
340.203 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
97.140 |
84.890 |
96.935 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
466.731 |
341.480 |
243.268 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
153.051 |
121.780 |
78.449 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
313.680 |
219.700 |
164.819 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
77.780 |
109.260 |
251.797 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
31.400 |
22.800 |
16.700 |
|
|
|
Dividend |
145.330 |
228.380 |
248.439 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
42.222 |
|
|
BALANCE CARRIED
TO THE B/S |
214.730 |
77.780 |
109.255 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
980.290 |
908.453 |
539.419 |
|
|
TOTAL EARNINGS |
980.290 |
908.453 |
539.419 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
253.109 |
116.119 |
|
|
|
Consumable and Spares |
|
1.265 |
0.883 |
|
|
|
Capital Goods |
|
4.192 |
2.260 |
|
|
|
Trading goods |
|
684.169 |
368.391 |
|
|
TOTAL IMPORTS |
NA |
942.735 |
487.653 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.84 |
6.19 |
4.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
5.26 |
5.07
|
5.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.95 |
8.05
|
8.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.42 |
14.21
|
13.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.65 |
0.62
|
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.51 |
0.35
|
0.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.17
|
1.21 |
LOCAL AGENCY FURTHER INFORMATION
OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
-- |
-- |
|
|
Creditors due others |
1492.587
|
1141.882 |
|
|
|
|
|
|
|
Total |
1492.587
|
1141.882 |
933.339 |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS
The year has been a very successful year for the Company. Domestic sales have registered a growth of 47% over previous year. The exports have grown by over 8% as compared to the last year.
The gross sales for the year under review have increased to Rs. 5937.390 millions from Rs. 4290.150 millions last year thereby registering an increase of about 38%. Profits after tax have also shown an increase of around 43% from Rs. 219.700 millions last year to Rs. 313.680 millions for the year.
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.12.2011 |
As on 31.12.2010 |
|
Working capital loans others unsecured |
184.429 |
8.766 |
|
|
|
|
|
Total |
184.429 |
8.766 |
FIXED ASSETS
· Land
· Building
· Factory Building
· Plant and Machinery
· Office Equipments
· Factory Equipments
· Computer Equipments
· Furniture and Fixtures
· Vehicles
· Aircrafts Helicopters
· Knowhow
· Goodwill
· Computer Software
· Patents Trademarks Design
· Licenses
Bankers Charges Report
as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U19120MH1995PTC094287 |
|
Name of the
company |
SAMSONITE SOUTH
ASIA PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
Gat Nos 159 to 163, Village Gonde (Dumala), Taluka Igatpuri, Nashik –
422403, Maharashtra, India E-mail: nilam.ghaghada@samsonite.co.in |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
90156589 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others
(Plant and machinery, Current Assets, Stocks.) |
|
Particular of
charge holder |
State Bank of India, IFB, Natraj Building, 102, 1st Floor, 194, Sir M V Road Western Express Highway, Andheri (East), Mumbai - 400069, Maharashtra, India E-mail: amit.prakash@sbi.co.in |
|
Nature of
instrument creating charge |
1. Fifth
Supplemental Joint Deed of Hypothecation 2. Fifth
Supplemental Working Capital Consortium Agreement. 3. Memorandum for
extending benefits of equitable mortgage to cover enhanced facilities. All of the above
agreements dated February 22, 2013 and constitute single charge. |
|
Date of
instrument Creating the charge |
22.02.2013 |
|
Amount secured by
the charge |
Rs.600.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest For SBI - 3.00%
above BR present effective rate 13.00% p.a. with monthly rests i.e. 14.00%
p.a. and existing pricing of 4.00% above BR i.e. 14.00% p.a. As per SBI
Exporters Gold Card Scheme. Terms of
Repayment Repayable on
demand for banks. Margin Raw Materials -
25%, Finished Goods - 33.33%, Stock in process - 40%, Receivables Domestic
(90 days) - 40%, Receivables Exports (60 days) - 20%, EPC/PCFC - 10%, LC -
10%, BG - 10%, Extent and
Operation of the charge Security to cover
principal amount together with interest, costs, charges and expenses etc. Others SBI - Rs. 203.500
Millions, Induslnd - Rs. 176.700 Millions, HSBC - Rs. 120.000 Millions, HDFC
- Rs. 60.000 Millions, DBS - Rs. 40.000 Millions, Total - Rs. 600.200
Millions. All other terms
and conditions as per the State Bank of India, Induslnd, HSBC, HDFC and DBS
Bank Sanctioned letter and loan agreement. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All and singular
borrower's current assets of the borrower's namely, stock of raw materials,
stock in process, semi finished and finished goods, stores and spares
(consumable stores and spares) bills receivables and book debts and all other
movables and movable fixed assets of the borrower both present and future
excluding such movables as may be permitted by the said banks from time to
time but including documents of title to goods and other assets such as
outstanding moneys receivables including receivables by way of cash
assistance and/or cash including under the cash incentive scheme or any other
scheme claims including claims by way of refund of customs/excise duties
under the draw drawback credit scheme or any other scheme bills invoices
documents contracts engagements securities investments and right both present
and future of borrower being and lying in the borrowers premises or godown of
or rented and whether lying loose or in cases or otherwise used in the
business or the borrower at the said site or in transit or lying anywhere now
belonging to or that may at any time during the continuance of the said
facilities and this security belong to the borrower or that may be held by
any party of the order or disposition of the borrower on first pari passu
basis with consortium members viz SBI, Indusind, HSBC, HDFC and DBS. |
|
Date of
instrument modifying the charge |
04.10.2011 |
|
Particulars of
the present modification |
Now by this and
present modification, the overall amount of charge be increased from existing
of Rs. 307.000 Millions to Rs. 600.200 Millions. |
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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
yes |
|
--LITIGATION |
YES/NO |
no |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
no |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
no |
|
--EXPORT ACTIVITIES |
YES/NO |
yes |
|
--AFFILIATION |
YES/NO |
yes |
|
--LISTED |
YES/NO |
no |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
no |
|
--EPF |
YES/NO |
no |
|
TOTAL |
|
47 |
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.