1. Summary Information
|
|
|
Country |
India |
|
Company Name |
KALYANI HAYES
LEMMERZ LIMITED |
Principal Name 1 |
Mr. Fred Bentley |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Prakash Kodlikeri |
|
|
|
Registration # |
11-096395 |
|
Street Address |
Gat No. 635,
Kuruli Village, Chakan, Taluka Khed, District Pune – 410501, Maharashtra,
India |
||
|
Established Date |
18.01.1996 |
SIC Code |
-- |
|
Telephone# |
91-2135-305100 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-2135-305101 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Automotive Components |
|
|
# of employees |
Not Available |
Product Name 2 |
Parts and Machineries |
|
Paid up capital |
Rs.360,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings - 85.00% Bodies corporate - 15.00% |
Banking |
State Bank of
India |
|
Public Limited Corp. |
-- |
Business Period |
17 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
Germany |
Hayes Lemmerz Konigswinter GmbH |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.01.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
637,915,000 |
Current Liabilities |
354,922,000 |
|
Inventories |
329,229,000 |
Long-term Liabilities |
801,358,000 |
|
Fixed Assets |
1,399,444,000 |
Other Liabilities |
150,562,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,306,842,000 |
|
Invest& other Assets |
53,628,000 |
Retained Earnings |
753,374,000 |
|
|
|
Net Worth |
1,113,374,000 |
|
Total Assets |
2,420,216,000 |
Total Liab. & Equity |
2,420,216,000 |
|
Total Assets (Previous Year) |
2,222,643,000 |
|
|
|
P/L Statement as of |
31.01.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
2,810,147,000 |
Net Profit |
8,542,000 |
|
Sales(Previous yr) |
2,078,666,000 |
Net Profit(Prev.yr) |
72,594,000 |
|
Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KALYANI HAYES LEMMERZ LIMITED (w.e.f. 05.11.2008) |
|
|
|
|
Formerly Known
As : |
KALYANI LEMMERZ LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 635, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.01.2011 |
|
|
|
|
Date of
Incorporation : |
18.01.1996 |
|
|
|
|
Com. Reg. No.: |
11-096395 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.360.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29303PN1996PLC096395 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK08922E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK7841A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automotive Components and Parts and Machineries. |
|
|
|
|
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 8100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Hayes Lemmerz, USA and Kalyani
Group. It is well established company having a satisfactory track record. The
latest financials are not made available with the government department. As per previous year’s, there appears continuous dip in the
profitability recorded by the company. However, the company gets strong financial support from its holding
companies. Trade relations are reported to be fair. Business is active.
Payments are reported to be usually correct. In view of experience promoters, 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A (Fund Based Limit) |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of financial
obligation it carry low credit risk. |
|
Date |
June 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.
LOCATIONS
|
Registered Office : |
Gat No. 635, |
|
Tel. No.: |
91-2135-305100 |
|
Fax No.: |
91-2135-305101 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 31.07.2012
|
Name : |
Mr. Fred Bentley |
|
Designation : |
Chairman |
|
Address : |
19059, Bellavista North |
|
Date of Birth/Age : |
28.06.1965 |
|
Date of Appointment : |
11.07.2005 |
|
DIN No.: |
01920156 |
|
|
|
|
Name : |
Mr. Prakash Kodlikeri |
|
Designation : |
Managing Director |
|
Address : |
A – 18, Abhimanshree Housing Society, |
|
Date of Birth/Age : |
20.06.1948 |
|
Date of Appointment : |
30.07.2011 |
|
DIN No.: |
01373420 |
|
|
|
|
Name : |
Mr. Babasaheb Neelkanth Kalyani |
|
Designation : |
Director |
|
Address : |
“Amit”, Survey No. 221, A,B,C,D, Kalyani Nagar, Pune – 411014, |
|
Date of Birth/Age : |
05.01.1949 |
|
Date of Appointment : |
18.01.1996 |
|
DIN No.: |
00089380 |
|
|
|
|
Name : |
Mr. Achim Weber |
|
Designation : |
Director |
|
Address : |
Brunnenstrasse 41, 53604, Bad |
|
Date of Birth/Age : |
03.03.1960 |
|
Date of Appointment : |
28.07.2006 |
|
DIN No.: |
01483953 |
|
|
|
|
Name : |
Mr. Petrus Wilhelmus Klinkers |
|
Designation : |
Director |
|
Address : |
Aylvalaan 4, 6212, Maastrcht |
|
Date of Birth/Age : |
16.08.1970 |
|
Date of Appointment : |
11.11.2009 |
|
DIN No.: |
02857643 |
MAJOR SHAREHOLDERS
As on: 31.07.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Equity
Shares |
|
Kalyani Babgasaheb N. |
|
1 |
|
Kalyani Sunita B. |
|
1 |
|
B. F. Investment Limited |
|
2399995 |
|
A. B. Kalyani |
|
1 |
|
Deeksha A. Kalyani |
|
1 |
|
S. B. Kanade |
|
1 |
|
Hayes Lemmerz Konigswinter GmbH ( |
|
13600000 |
|
Total |
|
16000000 |
|
Names of Shareholders (Preference Shares) |
|
No. of
Preference Shares |
|
Hayes Lemmerz Konigswinter GmbH ( |
|
20000000 |
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 31.07.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
85.00 |
|
Bodies corporate |
15.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Components and Parts and Machineries. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
State Bank of India, Industrial Finance Branch, Pune Tara Cambers, Mumbai
Pune Road, Pune – 411003, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. S. R. and Associates Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemine, |
|
Tel. No.: |
91-20-30585764 / 65 |
|
Fax No.: |
91-20-30585775 |
|
PAN No.: |
AADFB6889R |
|
|
|
|
Holding Company : |
Hayes Lemmerz Konigswinter GmbH ( |
CAPITAL STRUCTURE
As on: 31.07.2012
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
30000000 |
Preference Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
Total |
|
Rs.550.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000
Millions |
|
20000000 |
Preference Shares |
Rs.10/- each |
Rs.200.000
Millions |
|
|
Total |
|
Rs.360.000 Millions |
As on 31.01.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
30000000 |
Preference Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
Total |
|
Rs.550.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000
Millions |
|
20000000 |
Preference Shares |
Rs.10/- each |
Rs.200.000
Millions |
|
|
Total |
|
Rs.360.000 Millions |
Note :-
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.01.2011 |
31.01.2010 |
31.01.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
360.000 |
360.000 |
360.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
753.374 |
744.832 |
672.238 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1113.374 |
1104.832 |
1032.238 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
397.513 |
378.698 |
366.500 |
|
|
2] Unsecured Loans |
403.845 |
403.845 |
445.319 |
|
|
TOTAL BORROWING |
801.358 |
782.543 |
811.819 |
|
|
DEFERRED TAX LIABILITIES |
120.974 |
98.612 |
75.102 |
|
|
|
|
|
|
|
|
TOTAL |
2035.706 |
1985.987 |
1919.159 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1399.444 |
1360.095 |
764.554 |
|
|
Capital work-in-progress |
53.628 |
39.499 |
675.435 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
329.229
|
272.374
|
213.064 |
|
|
Sundry Debtors |
433.956
|
341.585
|
281.160 |
|
|
Cash & Bank Balances |
40.860
|
41.591
|
91.758 |
|
|
Other Current Assets |
6.640
|
4.827
|
0.000 |
|
|
Loans & Advances |
156.459
|
162.672
|
185.971 |
|
Total
Current Assets |
967.144
|
823.049
|
771.953 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
314.181
|
184.191
|
198.869 |
|
|
Other Current Liabilities |
40.741
|
20.781
|
54.687 |
|
|
Provisions |
29.588
|
31.684
|
39.227 |
|
Total
Current Liabilities |
384.510
|
236.656
|
292.783 |
|
|
Net Current Assets |
582.634
|
586.393
|
479.170 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2035.706 |
1985.987 |
1919.159 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.01.2011 |
31.01.2010 |
31.01.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2810.147 |
2078.666 |
2265.584 |
|
|
|
Other Income |
378.637 |
270.215 |
392.197 |
|
|
|
TOTAL (A) |
3188.784 |
2348.881 |
2657.781 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
1934.960 |
1369.891 |
1496.662 |
|
|
|
Personnel Expenses |
160.355 |
117.295 |
145.485 |
|
|
|
Manufacturing and Other Expenses |
825.207 |
593.685 |
665.789 |
|
|
|
TOTAL (B) |
2920.522 |
2080.871 |
2307.936 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
268.262 |
268.010 |
349.845 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
47.122 |
34.641 |
42.914 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
221.140 |
233.369 |
306.931 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
148.447 |
137.265 |
87.992 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
72.693 |
96.104 |
218.939 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
64.151 |
23.510 |
75.067 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.542 |
72.594 |
143.872 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
FOB Value of exports |
NA |
475.365 |
1004.582 |
|
|
|
TOTAL EARNINGS |
NA |
475.365 |
1004.582 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
NA |
7.197 |
23.833 |
|
|
|
Stores and Spares |
NA |
7.670 |
7.325 |
|
|
|
Capital Goods |
NA |
19.163 |
308.430 |
|
|
|
TOTAL IMPORTS |
NA |
34.030 |
339.588 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.24 |
3.95 |
8.41 |
|
KEY RATIOS
|
PARTICULARS |
|
31.01.2011 |
31.01.2010 |
31.01.2009 |
|
PAT / Total Income |
(%) |
0.27
|
3.09
|
5.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.59
|
4.62
|
9.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.07
|
4.40
|
14.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.09
|
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.72
|
0.71
|
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.52
|
3.48
|
2.64 |
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 |
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 |
No |
|
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 |
Yes |
BACKGROUND:
The Company was incorporated on 18 January 1996 and vas jointly promoted
by the Kalyani Group and Lernnierz Werke GmbH (Part of the Hayes Group) with 75%
and 25% equity participation respectively. The Company acquired the ‘Wheel Rim’
division of Bharat Forge Limited and commenced its commercial operations on 4
June 1996. The principal business of the Company is to manufacture wheel rims
for commercial vehicles. The manufacturing facility of the Company is situated
in Pune.
In August 1998. the Hayes Group increased its holding in the Company to
85°/o by acquiring additional 60% of the equity held by the Kalyani Group.
The Company is a subsidiary of Hayes Lemmerz Konigswinter GmbH (‘the
Holding Company’), a limited liability Company incorporated in Konigswinter.
During the year ended 31 January 2009, the Company has changed its name
to Kalyani Hayes Lemnierz Limited.” As a part of expansion with diversification
of product line the Company has entered into Passenger Car segment and has
successfully started its new manufacturing product line as “Car wheels” with
effect from 15th February 2010 at the Company owned premises, adjoining to the
existing Truck wheel plant having installed capacity of 2 million wheels per
annum.
FINANCIAL
RESULTS:
The company has registered a growth in sales turnover despite various
economical hurdles and difficulties faced European market for the Truck-wheel
segment. Regarding the initial gearing up of Car wheel manufacturing activity,
good start is made especially with the prominent customer - Volkswagen at their
various business places spread all over the world during the year.
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Sales Tax Deferral liability |
403.845 |
403.845 |
|
Total |
403.845 |
403.845 |
BANKERS CHARGES REPORT
AS PER REGISTRY:
|
Corporate
identity number of the company |
U29303PN1996PLC096395 |
|
Name of the
company |
KALYANI HAYES
LEMMERZ LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No 635,
Village Kuruli, Chakan Tal Khed, Pune – 410501, Maharashtra India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90090458 |
|
Type of charge |
· Book debts · Movable property (not being pledge) · Others (Stock in all its elements.) |
|
Particular of
charge holder |
State Bank of
India Industrial Finance Branch, 2nd floor, Tara Chambers, Near
Mariaaipolicechowky, Old Pune Mumbai Highway, Wakdewadi, Pune – 411003,
Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental Agreement
of Hypothecation of Goods and Assets for increase in the Overall Limit (Form
C.2-A)and Memorandum for recording extension of Mortgage by Deposit of Title
Deeds covering enhanced limits and /or creation of EM for existing limits and
enhanced limits and additional facilities both the documents executed between
the Bank and the Borrower Company to cover the enhanced limits. |
|
Date of
instrument Creating the charge |
09.06.2012 |
|
Amount secured by
the charge |
Rs.2000.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest DCC: 2.25% above
Base Rate (currently 12.25%p.a.) with monthly rests. For LC/EPC/PCFC and
EBD/EBR as per RBI's Directives and Bank's Policy time to time. Penal Interest
on default as per RBI's Directives Terms of Repayment DCC: On Demand. Margin RM: 25% Stock in
Process: 40% Finished Goods: 35% Book Debts (Covering Period 90 days) 25%
EPC:10% For BG /LC as per Bank's normal practice. Extent and Operation of the charge SBI IFB Pune will
have first and exclusive charge against all the present and future current
assets inclusive of book debts and stock. The Company has extended the
additional Security by way of 1st EM Charge on the entire fixed assets, which
it has owned, under lease agreement with M/s. Bharat Forge Limited for which
no objection has been obtained to provide this property as security towards
the credit facilities extended by the Bank to the Borrower Company. The
Charge will be in continuous mode. Others The Company, by
virtue of the Board Resolution dated 07/03/2012,has given assent to all the
Terms & Conditions, Covenants, as provided in the Bank's Sanction Letter
No.IFB/CREDIT/RMI/381Dt 02/03/12 & have executed the related loan
document(s)/Agreement(s) through the Director(s), who have received and
signed the documents in physical form and have authorized one of the
Directors to file eform-8 for the modifications in the existing limits and in
the nature and scope of the charge on agreed terms. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All the present
and future current assets inclusive of book debts and stock and the records thereof
maintained at the Registered and Works of the Company as denoted by the
Company to the Bank. Schedule A: All
that piece and parcel of leasehold rights in the land adm 3 Hect.40 Aar out
of Gat No.635/3 at Village Kuruli Tal Khed Distt Pune together with ownership
rights in factory building. shed constructed
and to be constructed thereon and fixed assets plant and machineries there in
and situated within the registration District of Pune Sub District Taluka
Khed Sub Registrar Rajgurunagar Schedule B: All
that piece and parcel of leasehold rights in the land adm 3 Hect.34 Aar out
of Gat No.635/1 at Village Kuruli Tal Khed Distt Pune together with
owenership rights in factory building. Shed constructed
and to be constructed thereon and fixed assets plant and machineries there in
and situated within the registration District of Pune Sub District Taluka
Khed Sub Registrar Rajgurunagar Schedule C:All
that piece and parcel of leasehold rights in the land adm 3 Hect.45 Aar out
of Gat No.635/2 at Village Kuruli Tal Khed Distt Pune together with
owenership rights in factory building.. Shed constructed
and to be constructed thereon and fixed assets plant and machineries there in
and situated within the registration District of Pune Sub District Taluka
Khed Sub Registrar Rajgurunagar All the above
said properties as denoted and geographicated in the Memorandum of Title
Deeds itself duly deposited by the Company in favour of Bank to secure the
enhanced credit facilities. |
|
Date of
instrument modifying the charge |
19.05.2011 |
|
Particulars of
the present modification |
By this present
modification, the existing credit facilities (Inclusive of Fund Based and Non
Fund Based) of Rs.1450.000 Millions
has been raised to Rs.2000.000 Millions (Inclusive of Fund Based and Non Fund
Based facilities). The Company has provided the additional security by way of
EM of immovable properties inclusive of leasehold rights, in Banks favour to
secure the enhanced limit. |
FIXED ASSETS:
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] 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.54.17 |
|
|
1 |
Rs.82.99 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
|
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.