MIRA
INFORM REPORT
|
Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOYOTA KIRLOSKAR MOTOR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.1, Bidadi Industrial Area, Ram Nagar Taluka, Bangalore Rural
District, Bangalore – 562109, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.10.1997 |
|
|
|
|
Com. Reg. No.: |
08-022858 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7000.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34101KA1997PTC022858 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRT01107B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT5415B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, assembly and trading of Multi Utility Vehicles and passenger cars |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 57780000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “TOYOTA MOTOR CORP” Japan. Subject is a well established company having a good track record. The
company is continuously incurring losses from its two years of operation. However, general financial position seems to be strong. The company
gets strong financial and managerial support from its holding company. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. In view of experience promoters, the company can be considered for
business dealings at usual trade terms and condition. |
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) |
|
India |
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.
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/ Factory : |
Plot No.1, Bidadi Industrial Area, Ram Nagar Taluka, |
|
Tel. No.: |
91-80-66292929/ 56914000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 25.06.2013
|
Name : |
Mr. Vikram Shreekant Kirloskar |
|
Designation : |
Vice Chairman |
|
Address : |
Kirloskar Residence, |
|
Date of Birth/Age : |
19.11.1958 |
|
Date of Appointment : |
06.10.1997 |
|
DIN No.: |
00007907 |
|
|
|
|
Name : |
Mr. Hiroshi Nakagawa |
|
Designation : |
Managing Director |
|
Address : |
No 862, 13th Main, 3rd Block, Kormangala, Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
30.03.1954 |
|
Qualification : |
Graduate in Politics and Economics |
|
Experience : |
33 Years |
|
Date of Appointment : |
11.01.2008 |
|
DIN No.: |
02008807 |
|
|
|
|
Name : |
Mr. Shekar Viswanathan |
|
Designation : |
Whole-time director |
|
Address : |
Shrothrabhiram, No.110, 6th Cross, 2nd Main Rmviind Stage (SFHS) Bangalore – 560094, Karnataka, India |
|
Date of Birth/Age : |
16.11.1956 |
|
Qualification : |
Graduate in Economics and ACA |
|
Experience : |
27 Years |
|
Date of Appointment : |
25.06.2008 |
|
DIN No.: |
01202587 |
|
|
|
|
Name : |
Mr. Sandeep Singh |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 3b, Orchard Green, 139/34 .Intermediate Ring Road , Amar Jyoti Layout, Domlur, Bangalore – 560071, Karnataka, India |
|
Date of Birth/Age : |
21.01.1961 |
|
Qualification : |
Graduate in Mechanical Engineering |
|
PAN No.: |
AHEPS5774N |
|
Experience : |
22 Years |
|
Date of Appointment : |
28.07.2008 |
|
DIN No.: |
01234858 |
|
|
|
|
Name : |
Mr. Masanori Takahashi |
|
Designation : |
Whole-time director |
|
Address : |
Regency Heights, Flat No.B-8 , 8™ Floor, Cleveland Road, Bangalore – 560005, Karnataka, India |
|
Date of Birth/Age : |
25.09.1958 |
|
Qualification : |
Graduate in Computer Engineering |
|
Experience : |
28 Years |
|
Date of Appointment : |
08.01.2009 |
|
DIN No.: |
02506394 |
|
|
|
|
Name : |
Mr. Atul Chandrakant Kirloskar |
|
Designation : |
Director |
|
Address : |
Radha, 453, Gokhale Road, Pune - 411016, Maharashtra,
India |
|
Date of Birth/Age : |
13.02.1956 |
|
Date of Appointment : |
03.04.2000 |
|
DIN No.: |
00007387 |
|
|
|
|
Name : |
Hidehisa Nagae |
|
Designation : |
Whole-time director |
|
Address : |
N0.144, 14,H Floor, Pebble Bay Dollars Colony RMV 2NU Stage, Bangalore – 560094, Karnataka, India |
|
Date of Birth/Age : |
07.10.1961 |
|
Qualification : |
Graduate in Education |
|
Experience : |
27 Years |
|
Date of Appointment : |
30.01.2012 |
|
DIN No.: |
05184885 |
|
|
|
|
Name : |
Mr. Tharuvai Swaminathan Jaishankar |
|
Designation : |
Whole-Time Director |
|
Address : |
A-706, Mantri Tranquil, Gubbalala Village, Off Kanakapura Road, Bangalore – 560002, Karnataka, India |
|
Date of Birth/Age : |
21.09.1959 |
|
PAN No.: |
ACMPJ3309B |
|
Date of Appointment : |
25.01.2013 |
|
DIN No.: |
06474987 |
|
|
|
|
Name : |
Mr. Mao Saka |
|
Designation : |
Whole-Time Director |
|
Address : |
M-1506, 15th Floor, M Wing Lynx, Brigade Gateway, 2611, Dr. Rajkumar Road, Malleswaram, Bangalore – 560055, Karnataka, India |
|
Date of Birth/Age : |
30.01.1971 |
|
Date of Appointment : |
25.01.2013 |
|
DIN No.: |
06474992 |
|
|
|
|
Name : |
Kyoichi Tanada |
|
Designation : |
Director |
|
Address : |
7-6-309, Nanpeldal Cho, Shibuya-Ku, Tokyo – 1500036, Japan |
|
Date of Birth/Age : |
22.10.1954 |
|
Date of Appointment : |
21.06.2012 |
|
DIN No.: |
05309280 |
|
|
|
|
Name : |
Mr. Yoshihiro Horinouchi |
|
Designation : |
Whole-Time Director |
|
Address : |
The Residence, No.3011. 2nd Cross, Ulsoor Road, Bangalore – 560042, Karnataka, India |
|
Date of Birth/Age : |
30.08.1957 |
|
Date of Appointment : |
21.06.2012 |
|
DIN No.: |
05302315 |
|
|
|
|
Name : |
Toshihito Yoshioka |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No 208, Prestige Acropolis, Site No. 20, Hosur Road, Bangalore – 560030, Karnataka, India |
|
Date of Birth/Age : |
08.03.1961 |
|
Date of Appointment : |
12.01.2010 |
|
DIN No.: |
02919384 |
|
|
|
|
Name : |
Hisayuki Inoue |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
3-23-8, Minamicho Kichijoji , Musashino City, Tokyo 1800003 |
|
Date of Birth/Age : |
31.10.1953 |
|
Date of Appointment : |
25.06.2013 |
|
DIN No.: |
06616286 |
|
|
|
|
Name : |
Yoshihiro Uozumi |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
8-14-2, Miyoshigaoka Miyoshi City 4700202 |
|
Date of Birth/Age : |
09.04.1958 |
|
Date of Appointment : |
25.06.2013 |
|
DIN No.: |
06616295 |
KEY EXECUTIVES
|
Name : |
Mr. Shreenivasa P Gotur |
|
Designation : |
Secretary |
|
Address : |
No.58, Gruhalakshmi Colony, 1st Stage, Basaveshwara Nagar,
Bangalore – 560079, Karnataka, India |
|
Date of Birth/Age : |
26.12.1971 |
|
Date of Appointment : |
31.07.2010 |
|
PAN No.: |
ACBPS8309K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kirloskar Systems Limited, |
|
77000000 |
|
Toyota Motor Corporation, |
|
623000000 |
|
|
|
|
|
Total |
|
700000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
89.00 |
|
Others |
|
11.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, assembly and trading of Multi Utility
Vehicles and passenger cars. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· The Bank of Tokyo Mitsubishi UFJ Limited · Hongkong and Shanghai Banking Corporation · Citi Bank N.A · State Bank of India · ICICI Bank Limited · Standard Chartered Bank · HDFC Bank Limited ·
Kotak Mahindra Bank Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewis Chartered Accountants |
|
Address : |
5th Floor, Tower D, The Millenia 1 and 2 Murphy Road, Bangalore – 560008, Karnataka, India |
|
PAN No.: |
AABFL5878L |
|
|
|
|
Holding Company : |
Toyota Motor Corporation, Japan (TMC) |
|
|
|
|
Fellow Subsidiary
Company : |
· Toyota Motor Asia Pacific Pte. Limited, Singapore · Toyota Kirloskar Auto Parts Private Limited CIN No.: U35914KA2002PTC030335 · Toyota Logistics Kishor India Private Limited CIN No.: U60231KA2010PTC052698 · Toyota Motor Asia Pacific Engineering and Manufacturing Company Limited, Thailand (TMAP(EM)) · Toyota Motor Manufacturing, Indonesia (TMMIN) · Toyota Motor Manufacturing, North America (TMMNA) · Toyota Motor Sales Inc., USA (TMS) · Toyota Autoparts Philippines Inc, Philippines (TAP) · Daihatsu Motor Company Limited, Japan · Design Corporation, Japan (DCJ) · Delphys Inc. · Toyota Techno Park India Private Limited (TTPIL) |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000000 |
Equity Shares |
Rs.10/- each |
Rs.7000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000000 |
Equity Shares |
Rs.10/- each |
Rs.7000.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7000.000 |
7000.000 |
7000.000 |
|
(b) Reserves & Surplus |
7446.320 |
7509.540 |
7777.900 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
14446.320 |
14509.540 |
14777.900 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
28711.580 |
19248.130 |
15251.900 |
|
(b) Deferred tax liabilities (Net) |
1402.850 |
905.160 |
665.730 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1268.460 |
806.820 |
451.700 |
|
Total Non-current
Liabilities (3) |
31382.890 |
20960.110 |
16369.330 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
8775.640 |
0.000 |
2247.630 |
|
(b) Trade payables |
11638.190 |
13296.690 |
8948.730 |
|
(c) Other current liabilities |
7196.110 |
4326.620 |
3495.120 |
|
(d) Short-term provisions |
110.170 |
90.120 |
778.720 |
|
Total Current
Liabilities (4) |
27720.110 |
17713.430 |
15470.200 |
|
|
|
|
|
|
TOTAL |
73549.320 |
53183.080 |
46617.430 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
36039.040 |
27027.250 |
22499.190 |
|
(ii) Intangible Assets |
2421.430 |
2531.340 |
2467.380 |
|
(iii) Capital work-in-progress |
480.190 |
352.100 |
950.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4711.710 |
3418.450 |
2613.140 |
|
(e) Other Non-current assets |
245.590 |
232.670 |
215.330 |
|
Total Non-Current
Assets |
43897.960 |
33561.810 |
28745.040 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11527.280 |
9766.740 |
5640.520 |
|
(c) Trade receivables |
5690.71 |
1406.820 |
1084.100 |
|
(d) Cash and cash equivalents |
8270.860 |
5363.250 |
8796.070 |
|
(e) Short-term loans and advances |
3928.380 |
2982.790 |
2158.410 |
|
(f) Other current assets |
234.130 |
101.670 |
193.290 |
|
Total Current
Assets |
29651.360 |
19621.270 |
17872.39 |
|
|
|
|
|
|
TOTAL |
73549.320 |
53183.080 |
46617.430 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
148893.520 |
114522.060 |
77241.260 |
|
|
|
Other Income |
982.090 |
1370.440 |
1136.750 |
|
|
|
TOTAL |
149875.610 |
115892.500 |
78378.010 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
144273.540 |
111510.730 |
72484.180 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5602.070 |
4381.770 |
5893.830 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5167.600 |
4367.080 |
2379.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
434.470 |
14.690 |
3513.860 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
497.690 |
283.050 |
1298.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(63.220) |
(268.360) |
2215.840 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7409.540 |
7677.900 |
6108.030 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
553.960 |
|
|
|
Dividend |
0.000 |
0.000 |
92.010 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
7346.320 |
7409.540 |
7677.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
|
19.757 |
|
|
|
Trading Exports |
|
|
4356.332 |
|
|
TOTAL EARNINGS |
NA |
NA |
4376.089 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
|
27921.316 |
|
|
|
Stores & Spares |
|
|
30.099 |
|
|
|
Capital Goods |
|
|
8697.869 |
|
|
|
Others |
|
|
1287.783 |
|
|
|
Motor Vehicles (Traded) |
|
|
839.060 |
|
|
TOTAL IMPORTS |
NA |
NA |
38776.127 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.09) |
(0.38) |
3.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.04)
|
(0.23)
|
2.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.29
|
0.01
|
4.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.59
|
0.03
|
7.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.00
|
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.59
|
1.33
|
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.11
|
1.16 |
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 |
No |
|
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 |
No |
LITIGATION
DETAILS:
|
High Court of Karnataka - Principal Bench
at Bangalore |
|||||||
|
ITA 356/2012 |
|||||||
|
CASE PENDING |
|||||||
|
Petitioner/Appnt.
Name |
THE COMMISSIONER OF INCOME-TAX |
||||||
|
Respondent/Defnt.
Name |
M/S NAMDHARI SEEDS |
||||||
|
Petnr./Appnt.
Advocate |
K V ARAVIND |
||||||
|
Respnt./Defnt.
Advocate |
|
||||||
|
Date Filed |
07/11/2012 |
||||||
|
District |
Bangalore City |
||||||
|
|
|||||||
|
Stage |
HEARING |
Last Posted for |
ADMISSION |
||||
|
Last Action Taken |
ADMIT/RULE |
Last Date of
Action |
27/02/2013 |
Next hearing date |
|
||
|
Before Hon'ble
Judge/s |
D.V.SHYLENDRA KUMAR |
||||||
|
|
B.SREENIVASE GOWDA |
||||||
|
Lower Court Details
[Appeal from below case.] |
|||||||
|
Case No |
Court name |
Disposal Dt |
|||||
|
ITA 384/2011 |
THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE B BEN |
21/05/201 |
|||||
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Term loans from banks |
4551.140 |
0.000 |
|
Borrowing from government semi-government bodies |
24160.440 |
19248.130 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Term loans from banks |
8775.640 |
0.000 |
|
|
|
|
|
Total |
37487.220 |
19248.130 |
BUSINESS PROSPECTS:
The products offered by the Company have been well received by the market. They shall continue to improve our products, processes and services through employees, dealers and suppliers participation. They shall strive to increase our market share by consistent customer satisfaction and innovative marketing strategies.
GENERAL INFORMATION
Subject is a joint venture between Toyota Motor Corporation, Japan and Kirloskar Systems Limited. The Company is a private limited Company incorporated in 1997 under provisions of Companies Act, 1956. The Company has a manufacturing facility in Bidadi and is primarily engaged in the business of manufacturing, assembly and trading of Multi Utility Vehicles and passenger cars in India.
Note: No Charges Exist for Company
FIXED ASSETS:
- Buildings
- Plant and
Machinery
- Computer
System
- Office and
Other Equipment
- Furniture and
Fixtures
- Motor
Vehicles
- Computer
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 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 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.61.92 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
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 |
|
53 |
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.