MIRA INFORM REPORT
|
Report Date : |
23.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
LAXMI DIA JEWEL PRIVATE LIMITED SHREE LAXMI INFOSOLUTIONS AND JEWELLARY LIMITED AMALGAMATED WITH LAXMI
DIA JEWEL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 4, BMC Industrial Area, Sai Nagar, Kandiwali
(West), Mumbai – 400067, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.09.1992 |
|
|
|
|
Com. Reg. No.: |
11-068743 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 66.856
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36912MH1992PTC068743 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL8548B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Jewellery. |
|
|
|
|
No. of Employees
: |
200 (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 2000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The company has achieved a better growth in its sales turnover during
2012. Financial position appears to be decent. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of extensive industry experience of the company’s promoters,
the subject can be considered for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
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 India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BBB - |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
26.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: BBB - |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
26.12.2012 |
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. Bhavin Shah |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-22-61503333 |
|
Date : |
22.08.2013 |
LOCATIONS
|
Registered Office : |
Plot No. 4, BMC Industrial Area, Sai Nagar, Kandiwali
(West), Mumbai – 400067, Maharashtra, India |
|
Tel. No.: |
91-22-61503333 |
|
Fax No.: |
91-22-61503309 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
SDF-1, Unit L No.20 and 24, Speepz, Andheri (East), Mumbai – 400005,
Maharashtra, India |
|
Tel. No.: |
91-22-40602222 |
|
E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Ashokbhai Haribhai Gajera |
|
Designation : |
Director |
|
Address : |
31, Kalpavruksh Apartment, 21, B. G. Kher Marg, Walkeshwar, Mumbai 400006, Maharashtra. India |
|
Date of Birth/Age : |
01.06.1965 |
|
Date of Appointment : |
20.05.2004 |
|
PAN No.: |
ABTPG2048J |
|
DIN No.: |
00147819 |
|
|
|
|
Name : |
Mr. Chunibhai Haribhai Gajera |
|
Designation : |
Director |
|
Address : |
67, Adarsh Society, Athwalines Sural -395001, Gujarat, India |
|
Date of Birth/Age : |
05.07.1960 |
|
Date of Appointment : |
20.05.2004 |
|
PAN No.: |
AAWPG3525A |
|
DIN No.: |
00147830 |
|
|
|
|
Name : |
Mr. Vasantbhai Haribhai Gajera |
|
Designation : |
Director |
|
Address : |
1, Vrushal Nagar Society, Near Katargam Police Station, Surat, 395004, India |
|
Date of Birth/Age : |
01.06.1958 |
|
Date of Appointment : |
20.05.2004 |
|
PAN No.: |
ABTPG2033P |
|
DIN No.: |
00147855 |
|
|
|
|
Name : |
Mr. Nitinbhai Haribhai Gajera |
|
Designation : |
Director |
|
Address : |
49-50, Vishnu Nagar Society, New AJC Road,, Surat- 395008, Gujarat, India |
|
Date of Birth/Age : |
11.06.1984 |
|
Date of Appointment : |
20.05.2004 |
|
DIN No.: |
00147866 |
|
|
|
|
Name : |
Mr. Mitesh Chunibhai Gajera |
|
Designation : |
Director |
|
Address : |
50, Vishnu Nagar Society, New A. K. Road, Ankur Char Rasta, Varachha Road, Surat – 395008, Gujarat, India |
|
Date of Birth/Age : |
10.03.1982 |
|
Date of Appointment : |
07.07.2007 |
|
PAN No.: |
AGIPG4691B |
|
DIN No.: |
01011862 |
KEY EXECUTIVES
|
Name : |
Mr. Bhavin Shah |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vasantbhai Haribhai Gajera |
|
223100 |
|
Ashokbhai Haribhai Gajera |
|
113300 |
|
Chunibhai Haribhai Gajera |
|
73100 |
|
Laxmi Diamond Private Limited Liability Company Limited |
|
2750000 |
|
Nitinbhai Haribhai Gajera |
|
60500 |
|
Sarojben Ashokbhai Gajera |
|
90000 |
|
Sunitaben Chunibhai Gajera |
|
90000 |
|
Rakesh Girdharlal Gajera |
|
3285615 |
|
Total |
|
6685615 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
49.15 |
|
Bodies corporate |
|
41.13 |
|
Directors or relatives of directors |
|
9.72 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Jewellery. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
|
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Countries : |
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Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
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|
|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
|
|
Production Meant For
Sale |
|
Rings, Pendent, Bracelets, Bengal earrings etc. |
(In Gms) (in 24KT) |
|
|
269457.002 |
GENERAL INFORMATION
|
Customers : |
Retailers and End users |
|
|
|
|
No. of Employees : |
200 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ramesh Rajni and Company Chartered Accountants |
|
Address : |
Purshottam Building, 1st
Floor, 450 Lamington Road, Opera House, Mumbai – 400004, Maharashtra,
India |
|
PAN No.: |
AAFFR7782K |
|
|
|
|
Associates: |
CIN No: U36911MH2006PTC161091
CIN No: U72900MH2000PLC127850
|
|
|
|
|
Enterprise over
which person described in (2) or their relative is able to exercise
significant influence (Only That with which
there are any transaction
during the year) |
CIN No: U36910GJ1999PTC035847
CIN No: U52390MH2007PTC172584 |
CAPITAL STRUCTURE
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs. 110.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6685615 |
Equity Shares |
Rs.10/- each |
Rs. 66.856
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
66.856 |
61.787 |
|
(b) Reserves & Surplus |
|
451.041 |
362.985 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
63.371 |
|
Total
Shareholders’ Funds (1) + (2) |
|
517.897 |
488.143 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
199.071 |
189.071 |
|
(b) Deferred tax liabilities (Net) |
|
0.137 |
0.000 |
|
(c) Other long term liabilities |
|
0.690 |
0.690 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
199.898 |
189.761 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
510.298 |
503.153 |
|
(b) Trade payables |
|
605.497 |
760.136 |
|
(c) Other current liabilities |
|
9.074 |
229.756 |
|
(d) Short-term provisions |
|
13.983 |
10.892 |
|
Total Current
Liabilities (4) |
|
1138.852 |
1503.937 |
|
|
|
|
|
|
TOTAL |
|
1856.647 |
2181.841 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
83.082 |
64.848 |
|
(ii) Intangible Assets |
|
0.729 |
0.810 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.004 |
0.004 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.838 |
|
(d) Long-term Loan and Advances |
|
17.649 |
14.217 |
|
(e) Other Non-current assets |
|
9.131 |
27.752 |
|
Total Non-Current
Assets |
|
110.595 |
108.469 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1028.296 |
1432.428 |
|
(c) Trade receivables |
|
574.437 |
571.156 |
|
(d) Cash and cash equivalents |
|
81.795 |
21.786 |
|
(e) Short-term loans and advances |
|
57.531 |
46.889 |
|
(f) Other current assets |
|
3.993 |
1.113 |
|
Total Current Assets |
|
1746.052 |
2073.372 |
|
|
|
|
|
|
TOTAL |
|
1856.647 |
2181.841 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
322.468 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
327.468 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
273.355 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
273.355 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
600.823 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
21.155 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.437 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
132.984 |
|
|
Sundry Debtors |
|
|
541.545 |
|
|
Cash & Bank Balances |
|
|
23.831 |
|
|
Other Current Assets |
|
|
6.854 |
|
|
Loans & Advances |
|
|
44.919 |
|
Total
Current Assets |
|
|
750.133 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
167.541 |
|
|
Provisions |
|
|
3.361 |
|
Total
Current Liabilities |
|
|
170.902 |
|
|
Net Current Assets |
|
|
579.231 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
600.823 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2445.870 |
1754.836 |
|
|
|
|
Other Income |
30.829 |
21.185 |
|
|
|
|
TOTAL |
2476.699 |
1776.021 |
817.477 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2415.641 |
1710.229 |
671.661 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
61.058 |
65.792 |
145.816 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
20.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
61.058 |
65.792 |
125.740 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
6.571 |
7.850 |
3.996 |
|
|
|
|
|
|
|
|
|
Add |
PROFIT AFTER
DEPRECIATION BUT BEFORE EXCEPTIONAL, EXTRAORDINARY ITEMS AND TAX |
54.487 |
57.942 |
121.744 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
9.756 |
1.485 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
44.731 |
54.457 |
121.744 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.977 |
19.548 |
0.191 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
29.754 |
36.909 |
121.553 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
394.025 |
71.324 |
797.837 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
14.796 |
259.819 |
167.888 |
|
|
|
Stores & Spares |
0.000 |
0.000 |
4.142 |
|
|
|
Capital Goods |
5.839 |
0.000 |
1.364 |
|
|
TOTAL IMPORTS |
20.635 |
259.819 |
173.394 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.46 |
103.51 |
243.48 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.20 |
2.08 |
14.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.82 |
3.10 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.41 |
2.50 |
15.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.11 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.37 |
1.41 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53 |
1.38 |
4.39 |
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 |
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 |
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2012 |
As on 31.03.2011 |
|
Long term
borrowing |
|
|
|
Loans and advance from related parties |
199.071 |
189.071 |
|
|
|
|
|
Short term
borrowing |
|
|
|
Rupee term loans from banks |
91.064 |
278.635 |
|
Other loans and advance |
419.234 |
224.518 |
|
|
|
|
|
Total |
709.369 |
692.224 |
Note: The Registered
Office of the company has been shifted from Plot No.55, Road No.15, Near
MIDC Police Station MIDC, Andheri (East) Mumbai – 400093, Maharashtra, India to the present
address w.e.f. 30.10.2009.
OPERATIONS
During the year, the Company continued trading and manufacturing activities. The revenue of the company from its operations was Rs. 2445.870 millions and from others was Rs. 30.829 millions. The Company has earned Net Profit of Rs. 29.754 millions after providing for Depreciation, Extraordinary Items, Exceptional Items and Taxation.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10423401 |
26/03/2013 |
120,000,000.00 |
Axis Bank Limited |
Ground Floor, Axis House, Bombay Dyeing Mills Compound, P
B Marg, Worli, Mumbai, Maharashtra - 400 |
B74287434 |
|
2 |
10427264 |
26/03/2013 |
100,000,000.00 |
STATE BANK OF PATIALA |
BLOCK NO.1,GALA NO.2, SEEPZ-SEZ, SEEPZ, ANDHERI EAST, MUMBAI, Maharashtra - 400096, INDIA |
B75669408 |
|
3 |
10406661 |
14/01/2013 |
80,000,000.00 |
CENTRAL BANK OF INDIA |
Chander Mukhi, Ground Floor, Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
B69049377 |
|
4 |
10380549 |
27/09/2012 |
20,000,000.00 |
Bank of India |
Seepz Mid Corporate Br,Behind Seepz Service Centre |
B59691543 |
|
5 |
10357820 |
07/04/2012 |
30,000,000.00 |
DENA BANK |
17, Horniman Circle, Fort, Mumbai, Maharashtra |
B40490419 |
|
6 |
10257498 |
10/11/2010 |
4,000,000.00 |
PUNJAB NATIONAL BANK |
OFFSHORE BANKING UNIT, SEEPZ, ANDHERI (EAST), MUMBAI, Maharashtra - 400096, INDIA |
B00136952 |
|
7 |
10096228 |
28/05/2011 * |
300,000,000.00 |
Bank of India - Lead Bank |
Seepz Mid Corporate Br. Behind Seepz Service Centre |
B14971345 |
|
8 |
10071146 |
28/09/2007 |
150,000,000.00 |
BANK OF INDIA |
SEEPZ BRANCH, ANDHERI -EAST, MUMBAI, Maharashtra |
A24918914 |
|
9 |
10004798 |
11/06/2010 * |
270,000,000.00 |
INDUSIND BANK LIMITED |
425, Dadasaheb Bhadkamkar Marg, OPERA HOUSE, MUMBAI, Maharashtra - 400004, INDIA |
A89687305 |
|
10 |
10004857 |
07/06/2010 * |
270,000,000.00 |
INDUSIND BANK LIMITED |
425, Dadasaheb Bhadkamkar Marg, Opera House, MUMBAI, Maharashtra - 400004, INDIA |
A89284202 |
|
11 |
80013331 |
17/04/2007 * |
36,000,000.00 |
PUNJAB NATIONAL BANK |
OFFSHORE BANKING UNIT, SEEPZ, ANDHERI (EAST), MUMBAI CENTRAL, Maharashtra - 400096, INDIA |
- |
FIXED ASSETS:
- Computer
- Computer
Software
- Electric
fittings
- Plant,
Machinery and Office Equipment
- Vehicle
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. 65.42 |
|
|
1 |
Rs. 102.09 |
|
Euro |
1 |
Rs. 87.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
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.