MIRA
INFORM REPORT
|
Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
AARTI STEELS LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.06.1979 |
|
|
|
|
Com. Reg. No.: |
16-3991 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.104.290 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17115PB1979PLC003991 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDM01231G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA4455D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Iron and Steel Products like Rounds and Bars. |
|
|
|
|
No. of Employees
: |
Not Available |
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 13000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is an established company having a satisfactory track record. The management has failed to file its financial with government
department for the year 2013. However as per available financial of 2012, profit margin of the
company appears to be fair. General financial position of the company seems
to be sound and health. Trade relations are reported to be fair. Business is active. Payment
terms are usually correct. 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 – 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans: BBB- |
|
Rating Explanation |
Moderate degree of Safety and moderate
credit risk |
|
Date |
December, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based limits: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
December, 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 : |
|
|
Tel. No.: |
91-161-3006100 |
|
Fax No.: |
91-161-3006150/ 3006153/ 3006155 |
|
E-Mail : |
|
|
Website : |
www.aartisteelsltd.com |
|
|
|
|
Works ( |
(Arc Furnace Division) Focal point,
|
|
Tel. No.: |
91-161-3006200 |
|
Fax No.: |
91-161-3600250 |
|
Email: |
|
|
Web Site: |
|
|
|
|
|
Works (Orissa) : |
Ghantikhal P O Mahakalbasta, Via Athgarh, district |
|
Tel. No.: |
91-671-3061000 / 2871282 |
|
Fax No.: |
91-671-3061150 / 2871281 |
|
|
|
|
Works: |
Steel and Power Division Plot No 11/1B/41 Sector 11 CDA Bindansi, |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Shiv Prasad |
|
Designation : |
Managing Director |
|
Address : |
154/1 Rani Jhansi Road, civil Lines, Ludhiana – 141 001 |
|
Date of Birth/Age : |
07.08.1936 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
01091474 |
|
PAN No.: |
ABKPA7653E |
|
|
|
|
Name : |
Mr. Rattan Singhania |
|
Designation : |
Director |
|
Address : |
B4/227Safdar Ganj Enclave, New Delhi – 110 029, India |
|
Date of Birth/Age : |
01.07.1949 |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00147685 |
|
|
|
|
Name : |
Mr. Rajeev Kumar Mittal |
|
Designation : |
Whole Time Director |
|
Address : |
154/1 Rani Jhansi Road, civil Lines, Ludhiana – 141 001 |
|
Date of Birth/Age : |
13.04.1962 |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00765697 |
|
PAN No.: |
ACHPM4702A |
|
|
|
|
Name : |
Mr. Mahesh Kumar Mittal |
|
Designation : |
Whole Time Director |
|
Address : |
154/1 Rani Jhansi Road, civil Lines, Ludhiana – 141 001 |
|
Date of Birth/Age : |
08.12.1959 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00765808 |
|
PAN No.: |
ABRPM6251F |
|
|
|
|
Name : |
Mr. Omprakash Bhatia |
|
Designation : |
Director |
|
Address : |
802, Himadri Apartment, 22 Ballygunge Park Road, Kolkata – 700019,
West Bengal, India |
|
Date of Birth/Age : |
15.07.1935 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
01251010 |
|
|
|
|
Name : |
Mr. Vinayak Mittal |
|
Designation : |
Whole Time Director |
|
Address : |
154/1 Rani Jhansi Road, civil Lines, Ludhiana – 141 001 Punjab, India |
|
Date of Birth/Age : |
05.06.1986 |
|
Date of Appointment : |
01.05.2008 |
|
DIN No.: |
01942598 |
|
PAN No.: |
AKIPM0582D |
|
|
|
|
Name : |
Mr. Sushen Mittal |
|
Designation : |
Additional Director |
|
Address : |
H. No.154/1, Maharani Jhansi Road, Civil Lines, Ludhiana – 141001,
Punjab, India |
|
Date of Birth/Age : |
22.09.1991 |
|
Date of Appointment : |
14.06.2013 |
|
DIN No.: |
06610383 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Kumar Behal |
|
Designation : |
Secretary |
|
Address : |
3235 Phase –II, Urban Estate, Dugri, |
|
Date of Birth/Age : |
19.02.1958 |
|
Date of Appointment : |
25.04.2011 |
|
Pan No.: |
ABUPB2010Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
Shiv Prasad (Karta) |
|
1821 |
|
Mahesh Kumar Mittal (Karta) |
|
10221 |
|
Raj Rani |
|
39976 |
|
Rajeev Kumar (Karta) |
|
9970 |
|
Aarti |
|
1000 |
|
Shiv Prasad |
|
142207 |
|
Uma Mittal |
|
15551 |
|
Yash Paul Sharma |
|
2 |
|
Shiv Desh Bandhu |
|
2 |
|
Creative Intra Limited |
|
483323 |
|
Rajeev Mittal |
|
52870 |
|
Mahesh Mittal |
|
56428 |
|
Sushen Mittal |
|
7294 |
|
Pankhuri Mittal |
|
7293 |
|
Gayatri Mittal |
|
7294 |
|
Vinayak Mittal |
|
12578 |
|
Alka Mittal |
|
27166 |
|
Isabelle Traders Limited |
|
142351 |
|
Shiv Prasad Agarwal and Sons |
|
518 |
|
Dinesh Kumar |
|
3 |
|
Mohit Gupta |
|
12515 |
|
Rohit Gupta |
|
12516 |
|
|
|
|
|
Total |
|
1042899 |
(AS ON 29.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
60.00 |
|
Directors or relatives of directors |
|
40.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Iron and Steel Products like Rounds and Bars. |
||||
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|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|||||||||||||||||||||||||||
|
Bankers : |
· State Bank of Patiala Commercial Branch, Aarti Complex, G. T. Road, Miller Ganj, Ludhiana - 141003, Punjab, India · Indian Overseas Bank Civil Lines, Fountain Chowk, Ludhiana -141001, Punjab, India ·
State Bank of Patiala Miller Ganj, Ludhiana, Punjab, India · State Bank of India · Oriental Bank of Commerce · Corporation Bank |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N K Bector and Company Chartered Accountants |
|
Address : |
B-XX-3297/5 Gurdev Nagar Ludhiana, Punjab, India |
|
PAN No.: |
AAWPB1817G |
|
|
|
|
Subsidiaries |
·
Ludhiana Steels Limited |
|
|
|
|
Enterprises
which are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Aarti International Limited, India · Creative Intra Limited, India ·
|
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1042899 |
Equity Shares |
Rs.100/- each |
Rs.104.290
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
104.290 |
104.290 |
|
(b) Reserves & Surplus |
|
3158.512 |
2971.623 |
|
(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) |
|
3262.802 |
3075.913 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2046.650 |
2327.004 |
|
(b) Deferred tax liabilities (Net) |
|
704.245 |
686.879 |
|
(c) Other long
term liabilities |
|
1.320 |
1.653 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
2752.215 |
3015.536 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
2397.138 |
2064.339 |
|
(b)
Trade payables |
|
667.609 |
394.742 |
|
(c) Other
current liabilities |
|
686.467 |
1011.522 |
|
(d) Short-term
provisions |
|
8.205 |
40.433 |
|
Total Current
Liabilities (4) |
|
3759.419 |
3511.036 |
|
|
|
|
|
|
TOTAL |
|
9774.436 |
9602.485 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
4919.329 |
4397.105 |
|
(ii)
Intangible Assets |
|
1.189 |
1.861 |
|
(iii)
Capital work-in-progress |
|
32.562 |
714.504 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
61.913 |
62.288 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
88.715 |
134.104 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
5103.708 |
5309.862 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
1.543 |
1.402 |
|
(b)
Inventories |
|
1552.267 |
1559.049 |
|
(c) Trade
receivables |
|
2227.908 |
2074.866 |
|
(d) Cash
and cash equivalents |
|
125.211 |
196.068 |
|
(e)
Short-term loans and advances |
|
743.613 |
457.208 |
|
(f)
Other current assets |
|
20.186 |
4.030 |
|
Total
Current Assets |
|
4670.728 |
4292.623 |
|
|
|
|
|
|
TOTAL |
|
9774.436 |
9602.485 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
108.060 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2639.183 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2747.243 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3919.464 |
|
|
2] Unsecured Loans |
|
|
232.372 |
|
|
TOTAL BORROWING |
|
|
4151.836 |
|
|
DEFERRED TAX LIABILITIES |
|
|
595.851 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7494.930 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4463.649 |
|
|
Capital work-in-progress |
|
|
522.884 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
23.010 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1318.391 |
|
|
Sundry Debtors |
|
|
1308.351 |
|
|
Cash & Bank Balances |
|
|
51.284 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
479.278 |
|
Total
Current Assets |
|
|
3157.304 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
419.203 |
|
|
Other Current Liabilities |
|
|
241.761 |
|
|
Provisions |
|
|
11.003 |
|
Total
Current Liabilities |
|
|
671.967 |
|
|
Net Current Assets |
|
|
2485.337 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.050 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
7494.930 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
10163.565 |
9036.961 |
6734.488 |
|
|
|
Other Income |
21.916 |
13.614 |
11.313 |
|
|
|
TOTAL (A) |
10185.481 |
9050.575 |
6745.801 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
5546.179 |
4798.093 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(63.131) |
(302.193) |
5 356.360 |
|
|
|
Employee benefit expense |
310.446 |
300.005 |
|
|
|
|
Other expenses |
3034.375 |
2638.774 |
|
|
|
|
TOTAL (B) |
8827.869 |
7434.679 |
5356.360 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1357.612 |
1615.896 |
1389.441 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
540.008 |
486.551 |
292.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
817.604 |
1129.345 |
1097.168 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
558.162 |
536.350 |
379.257 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
259.442 |
592.995 |
717.911 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
72.554 |
211.545 |
328.082 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
186.888 |
381.450 |
389.829 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.771 |
0.321 |
0.492 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
187.500 |
380.000 |
390.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1.159 |
1.771 |
0.321 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
29.032 |
133.331 |
375.873 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
502.058 |
309.697 |
233.512 |
|
|
|
Stores & Spares |
67.845 |
140.627 |
81.584 |
|
|
TOTAL IMPORTS |
569.903 |
450.324 |
315.096 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
179.20 |
363.96 |
360.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.83
|
4.21 |
5.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.55
|
6.56 |
10.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.68
|
6.72 |
9.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.19 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.36
|
1.43 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.22 |
4.70 |
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 |
Yes |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
PUNJAB AND HARYANA HIGH
COURT
CASE STATUS INFORMATION
SYSTEMS
Case Status: PENDING
|
Status of INCOME TAX
APPEAL 153
of 2011 COMMI. OF IT-II, LUDHIANA
Vs.
M/S AARTI STEELS LTD , G.T. ROAD, MILLER |
|
|
Pet's Adv. : |
DENESH GOYAL
|
|
Last Listed On : |
Wednesday, September 19, 2012 |
|
List Type: |
Ordinary |
|
FIR No. : |
NO FIR DETAILS AVAILABLE / NOT A CRIMINAL
CASE |
|
|
|
|
Complaint No. : |
NO COMPLAINT DETAILS AVAILABLE |
|
|
|
|
Category : |
STATUTORY APPEALS INCOME TAX
|
|
|
|
|
Last Hearing Detail 1 : |
Before MR. JUSTICE HEMANT GUPTA, MR. JUSTICE
RAJIV NARAIN RAINA, at Bench Sl. No: 230 |
|
|
|
|
Last Hearing Detail 2: |
Before MR. JUSTICE HEMANT GUPTA, MR.
JUSTICE RAJIV NARAIN RAINA, at Bench Sl. No: 228 |
Case Updated on: Wednesday, September 19, 2012
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowing |
|
|
|
Loans and advances from Directors |
92.798 |
208.563 |
|
Loans and Advances from Others |
444.746 |
377.661 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Loans repayable on demand from banks |
154.663 |
13.890 |
|
|
|
|
|
Total |
692.207 |
600.114 |
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES
|
S.No. |
Charge
ID |
Date
of Charge Creation/ Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10412815 |
28/02/2013 |
150,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, AARTI COMPLEX, G. T. ROAD, MI |
B71116719 |
|
2 |
10252631 |
20/11/2010 |
200,000,000.00 |
IDBI
BANK LIMITED |
SCO
126-128, KALINGA TOWERS, FEROZE GANDHI MARKET |
B00337717 |
|
3 |
10252628 |
19/11/2010 |
200,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, JANDU TOWER, G. T. ROAD, MILLER |
B00318832 |
|
4 |
10246841 |
11/10/2010 |
250,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G. T. ROAD,, MILLER GANJ, LUDH |
A97569230 |
|
5 |
10244205 |
05/10/2010 |
250,000,000.00 |
CORPORATION
BANK |
SCO-34,
FEROZE GANDHI MARKET,, PAKHOWAL ROAD,, LU |
A96682109 |
|
6 |
10199514 |
02/02/2010 |
250,000,000.00 |
IDBI
BANK LIMITED |
1ST FLOOR,
SCO 126-128, KALINGA TOWERS,, FEROZE G |
A78520830 |
|
7 |
10172186 |
30/12/2009
* |
350,000,000.00 |
YES
BANK LIMITED |
9TH
FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. |
A77020774 |
|
8 |
10170287 |
24/07/2009 |
60,000,000.00 |
STATE
BANK OF HYDERABAD |
SONA
COMPLEX, 15/179, G. T. ROAD, MILLER GANJ, LU |
A67510495 |
|
9 |
10166350 |
11/08/2009
* |
150,000,000.00 |
IDBI
BANK LIMITED |
S.C.O.
126-128, KALINGA TOWERS, FEROZE GANDHI MAR |
A68212349 |
|
10 |
10139808 |
28/01/2009 |
200,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, G. T. ROAD,, LUDHIANA, PUNJAB - 1 |
A55635692 |
|
11 |
10139957 |
24/01/2009 |
220,000,000.00 |
CORPORATION
BANK |
SCO
- 34, FEROZE GANDHI MARKET,, PAKHOWAL ROAD,, |
A55730220 |
|
12 |
10127143 |
11/10/2008 |
500,000,000.00 |
PUNJAB
NATIONAL BANK |
INTERNATIONAL
BANKING BRANCH, G. T. ROAD, INDUSTR |
A49164791 |
|
13 |
10117831 |
19/08/2008 |
800,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G. T. ROAD, MILLER GANJ, LUDHI |
A43916162 |
|
14 |
10117716 |
28/07/2008 |
150,000,000.00 |
PUNJAB
NATIONAL BANK |
INTERNATIONAL
BANKING BRANCH, G. T. ROAD, INDUSTR |
A43729581 |
|
15 |
10114126 |
09/07/2008 |
50,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, G. T. ROAD, LUDHIANA, PUNJAB - 1 |
A42651497 |
|
16 |
10097105 |
03/04/2008 |
200,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, MILLER GANJ, LUDHIANA, PUNJAB - |
A36154417 |
|
17 |
10013519 |
02/08/2006 |
180,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, G. T. ROAD, MILLER GANJ, LUDHI |
A03223286 |
|
18 |
80010975 |
23/02/2012
* |
470,000,000.00 |
STATE
BANK OF INDIA |
SCB,
MILLER GANJ, G.T ROAD, LUDHIANA, PUNJAB - 14 |
B33022872 |
|
19 |
90167672 |
20/12/2012
* |
3,750,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, AARTI COMPLEX,, G. T. ROAD, MI |
B67448548 |
* Date of charge modification
FIXED ASSETS
v Land
v Building
v Plant and Machinery
v Vehicles
v Furniture and Fixtures
v Software
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] 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.62.34 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.