|
Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOTHARI HOSIERY FACTORY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
29, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.08.1988 |
|
|
|
|
Com. Reg. No.: |
21-044899 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 144.864 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111WB1988PTC044899 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALK00255D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADFK1140N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Hosiery Products. |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1024000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that
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. Satinath Roy |
|
Designation : |
Accountant |
|
Contact No.: |
91-9883812222 |
|
Date : |
14.08.2013 |
LOCATIONS
|
Registered Office : |
29, |
|
Tel. No.: |
91-33-22439371/ 22439372/
22439373/ 22439374/ 22439375/ 22697052/ 22689904 |
|
Mobile No.: |
91-9883812222 (Mr. Satinath Roy) |
|
Fax No.: |
91-33-22433109 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
480 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
24, Chawal Pathy Road, Kolkata, West |
|
Area : |
10000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Dau Dayal Kothari |
|
|
Designation : |
Director |
|
|
Address : |
Rajshree, 6, Hasting |
|
|
Date of Birth/Age : |
05.12.1934 |
|
|
Date of Appointment : |
22.09.1999 |
|
|
DIN No.: |
00233255 |
|
|
Other Directorship: |
|
|
|
|
|
|
|
Name : |
Mr. Bithal Das Kothari |
|
|
Designation : |
Director |
|
|
Address : |
Rajshree, 6, Hasting |
|
|
Date of Birth/Age : |
21.03.1945 |
|
|
Date of Appointment : |
01.08.1988 |
|
|
DIN No.: |
00233474 |
|
|
|
|
|
|
Name : |
Mr. Man Mohan Kothari |
|
|
Designation : |
Director |
|
|
Address : |
Rajshree, 6, Hasting |
|
|
Date of Birth/Age : |
12.12.1968 |
|
|
Date of Appointment : |
01.04.2008 |
|
|
DIN No.: |
00233353 |
|
|
|
|
|
|
Name : |
Mr. Kishore Kumar Kothari |
|
|
Designation : |
Director |
|
|
Address : |
Rajshree, 6, Hasting |
|
|
Date of Birth/Age : |
14.09.1972 |
|
|
Date of Appointment : |
01.04.2008 |
|
|
DIN No.: |
00239119 |
|
|
|
|
|
|
Name : |
Mr. Keshav Kumar Kothari |
|
|
Designation : |
Director |
|
|
Address : |
Rajshree, 6, Hasting |
|
|
Date of Birth/Age : |
16.01.1970 |
|
|
Date of Appointment : |
01.04.2008 |
|
|
DIN No.: |
00233394 |
|
|
|
|
|
|
Name : |
Mr. |
|
|
Designation : |
Director |
|
|
Address : |
Rajshree, 6, Hasting |
|
|
Date of Birth/Age : |
13.10.1957 |
|
|
Date of Appointment : |
01.04.2008 |
|
|
DIN No.: |
00233174 |
|
|
|
|
|
|
Name : |
Mr. Kamal Kumar Kothari |
|
|
Designation : |
Director |
|
|
Address : |
Rajshree, 6, Hasting |
|
|
Date of Birth/Age : |
05.06.1959 |
|
|
Date of Appointment : |
01.04.2008 |
|
|
DIN No.: |
00233217 |
|
|
|
|
|
|
Name : |
Mr. Hari Mohan Kothari |
|
|
Designation : |
Director |
|
|
Address : |
Rajshree, 6, Hasting |
|
|
Date of Birth/Age : |
05.10.1974 |
|
|
Date of Appointment : |
01.04.2008 |
|
|
DIN No.: |
00233318 |
|
KEY EXECUTIVES
|
Name : |
Mr. Satinath Roy |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Dau Dayal Kothari |
|
8190 |
|
Bithal Das Kothari |
|
8190 |
|
Man Mohan Kothari |
|
1044450 |
|
Kishore Kumar Kothari |
|
883800 |
|
Keshav Kumar Kothari |
|
1293750 |
|
|
|
883800 |
|
Kamal Kumar Kothari |
|
884250 |
|
Hari Mohan Kothari |
|
1044000 |
|
Dwarka Das Kothari |
|
3450600 |
|
Dau Dayal Kothari (HUF) |
|
2085300 |
|
Bithal Das KOthari (HUF) |
|
2647800 |
|
Kalpana Maloo |
|
90 |
|
Kavita Binani |
|
90 |
|
|
|
13 |
|
Savita Kothari |
|
450 |
|
Kirti Kothari |
|
450 |
|
Rohit Kothari |
|
450 |
|
Sushila Kothari |
|
135 |
|
Srikanta Kothari |
|
486 |
|
Subhas Travelings (Private) Limited |
|
27500 |
|
Earth Developers (Private) Limited |
|
25000 |
|
Eshanputra Commercial (Private) Limited |
|
27500 |
|
Cradle Traders (Private) Limited |
|
30000 |
|
Tejaswani Commotrade (Private) Limited |
|
25000 |
|
DDS Consultants (Private) Limited |
|
13500 |
|
Carnation Commercial (Private) Limited |
|
21500 |
|
Khazana Merchandise (Private) Limited |
|
25000 |
|
Basundhara Marcom (Private) Limited |
|
27500 |
|
Subhakari Mercantile Private Limited |
|
27500 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
98.28 |
|
Other top fifty shareholders |
1.72 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Hosiery Products. |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Advance |
|
|
|
|
Purchasing : |
L/C and Advance |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Than |
Kgs. |
N.A. |
N.A. |
1310006 |
|
Hosiery Goods |
Pcs. |
N.A. |
N.A. |
10279368 |
Production is inclusive of internal
consumption of year.
License and installed capacities is certified
by the management.
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
25 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Khandelwal Chartered Accountants |
|
Address : |
1/A, Vansittart Row, Kolkata - 700 001, West |
|
Tel. No.: |
91-33-22480826/ 0813 |
|
PAN No.: |
ABSFS6855J |
|
|
|
|
Sister Concern : |
Address:
|
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14486416 |
Equity Shares |
Rs. 10/- each |
Rs. 144.864 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
144.864 |
15.818 |
|
(b) Reserves & Surplus |
|
111.179 |
141.733 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
256.043 |
157.551 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2.149 |
0.540 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
2.149 |
0.540 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
137.833 |
88.921 |
|
(b) Trade
payables |
|
36.442 |
34.222 |
|
(c) Other
current liabilities |
|
42.619 |
24.938 |
|
(d) Short-term
provisions |
|
1.975 |
6.991 |
|
Total Current
Liabilities (4) |
|
218.869 |
155.072 |
|
|
|
|
|
|
TOTAL |
|
477.061 |
313.163 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
48.253 |
37.192 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4.488 |
4.106 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
52.746 |
41.303 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
266.863 |
183.712 |
|
(c) Trade
receivables |
|
115.747 |
64.814 |
|
(d) Cash
and cash equivalents |
|
7.121 |
6.141 |
|
(e)
Short-term loans and advances |
|
34.584 |
17.193 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
424.315 |
271.860 |
|
|
|
|
|
|
TOTAL |
|
477.061 |
313.163 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
15.818 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
90.122 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
105.940 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
77.900 |
|
|
2] Unsecured Loans |
|
|
9.051 |
|
|
TOTAL BORROWING |
|
|
86.951 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
192.891 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
36.528 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
133.083
|
|
|
Sundry Debtors |
|
|
62.104
|
|
|
Cash & Bank Balances |
|
|
7.684
|
|
|
Other Current Assets |
|
|
3.828
|
|
|
Loans & Advances |
|
|
7.781
|
|
Total
Current Assets |
|
|
214.480 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
53.888 |
|
|
Other Current Liabilities |
|
|
1.893
|
|
|
Provisions |
|
|
2.456
|
|
Total
Current Liabilities |
|
|
58.237 |
|
|
Net Current Assets |
|
|
156.243
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.120 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
192.891 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
749.699 |
667.185 |
507.399 |
|
|
|
Other Income |
5.471 |
5.032 |
4.417 |
|
|
|
TOTAL |
755.170 |
672.217 |
511.816 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
672.104 |
586.867 |
443.193 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(Including
Finance Expenses) |
(Including
Finance Expenses) |
68.623 |
|
|
Less |
INTEREST |
|
|
13.413 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
83.066 |
85.350 |
55.210 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.232 |
4.954 |
3.421 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
76.834 |
80.396 |
51.789 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
26.000 |
27.000 |
15.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
50.834 |
53.396 |
36.789 |
|
|
|
|
|
|
|
|
|
Less |
Income
Tax for Earlier Year |
2.343 |
1.785 |
1.365 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11.733 |
60.122 |
24.698 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
100.000 |
0.000 |
|
|
BALANCE CARRIED TO
THE B/S |
60.224 |
11.733 |
60.122 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Realization basis |
5.410 |
1.665 |
0.123 |
|
|
TOTAL EARNINGS |
5.410 |
1.665 |
0.123 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
0.000 |
0.069 |
|
|
|
Stores & Spares |
NA |
0.338 |
0.418 |
|
|
|
Capital Goods |
NA |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
0.338 |
0.487 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.51 |
32.63 |
23.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.73
|
7.94
|
7.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.25
|
12.05
|
10.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.92
|
29.13
|
20.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.51
|
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.55
|
0.57
|
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
1.75
|
3.68 |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans and
advances from others |
0.554 |
5.723 |
|
Loans and
advances from Director |
0.000 |
0.720 |
|
Total |
0.554 |
6.443 |
OPERATIONS:
The Company has
posted an impressive performance with moderate growth Inspite of losing one
full month’s production/sale following imposition of Excise duty on Hosiery and
Readymade products.
The company has
recorded a turnover of Rs. 749.699 Millions in the current year. The company
earned net profit before taxes Rs. 76.834 Millions. The amount of net profit
available for appropriation after adjustments for prior period item and taxes
is Rs. 48.491 Millions and the same is carried to general reserve in the
balance sheet.
The work of the
Salt Lake Project at
The imposition of
excise duty on Branded hosiery and Readymade garments during the Union Budget
for the year 2011-2012 has left adverse impact on the industry all over the
country. The company has been successful in passing the corresponding cost
increase in the market.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U17111WB1988PTC044899 |
|
Name of the
company |
KOTHARI HOSIERY FACTORY PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
29, E-Mail: shriksna@vsnl.net.in |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10294576 |
|
Type of charge |
|
|
Particular of
charge holder |
Citibank N.A., E-Mail: roc@sdpa.in |
|
Nature of
instrument creating charge |
Deed of
modification for goods security agreement. |
|
Date of
instrument Creating the charge |
07.05.2013 |
|
Amount secured by
the charge |
Rs. 270.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
terms and as may be decided by the bank and company mutually from time to
time. Terms of
Repayment Repayable on
demand, annually renewable Margin Borrower shall at
all times during the continuance of the security maintain a sufficient amount
to provide the margin of security as may from time to time advised by the
bank. Extent and
Operation of the charge First exclusive
charge on property admeasuring 24.67 cottahs of factory land and building
located at 24, Chaulpatti, Kolkata – 700 010 in favour of Citibank N.A
Kolkata for the repayment of all monies in respect of the credit facility,
including outstanding balance and also all interest, costs, charges and
expenses. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
i. Current assets (including stocks and book
debts) and movable fixed assets (Including Plant and Machinery, office
equipments, Furniture and Fixture etc.) of the borrower both present and
future.
ii. Property admeasuring 24.67 cottahs of
factory land and building located at 24, Chaulpatti, Kolkata – 700 010 |
|
Date of
instrument modifying the charge |
29.05.2012 |
|
Particulars of
the present modification |
By this
modification the overall limit remain the same at Rs. 200.000 Millions, and
charge is also further secured by first exclusive charge on the current
assets (including stocks and book debts) and movable fixed assets (Including
Plant and Machinery, office equipments, Furniture and Fixture etc.) of the
borrower both present and future and property admeasuring 24.67 cottahs of
factory land and building located at 24, Chaulpatti, Kolkata – 700 010 All other terms
and conditions continue to remain as before in full force and effect. |
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 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. 63.70 |
|
|
1 |
Rs. 99.79 |
|
Euro |
1 |
Rs. 85.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
48 |
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.