|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
IND-BARATH POWER INFRA LIMITED (w.e.f. 28.04.2008) |
|
|
|
|
Formerly Known
As : |
IND-BARATH POWER INFRA PRIVATE LIMITED (w.e.f. 18.10.2006) KANUMURI HOLDINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No 30A, Road No 1, Film Nagar, Jubilee Hills, Hyderabad – 500033,
Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
17.02.1995 |
|
|
|
|
Com. Reg. No.: |
01-019471 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4995.916 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65993AP1995PLC019471 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
HYDK01865D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK3883B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The principal activities of the Company are provision of operating
and maintenance facilities relating to electric and all other kinds of power
generation projects, construction and provision of infrastructure facilities
to power projects on Erection, Procurement and Commissioning (EPC) basis
including the responsibility for day to day operations, routine maintenance
and management of the facility and the sale of coal. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 32000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
company has incurred a heavy loss during current year. Reserves of the company also appears to be low. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow. The company can be considered for business dealings with some
cautions. |
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
Uptick in agriculture
and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
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 : |
Plot No 30A, Road No 1, Film Nagar, Jubilee Hills, Hyderabad – 500033,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-23553459, 23553460 |
|
Fax No.: |
91-40-23607522 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
20/129, Chamiers Road, Nandam, Chennai – 600 035, Tamilnadu, India. |
|
Tel. No.: |
91-44-24346711/2/3/4 |
|
Fax No.: |
91-44-24346715 |
|
E-Mail : |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Kanumuru Raghu Rama Krishna Raju |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Plot No.212, O Road No.76, Jubllee Hills, Hyderabad - 500096, Andhra Pradesh, India |
|
Date of Birth/Age : |
14.05.1962 |
|
Date of Appointment : |
17.02.1995 |
|
DIN No.: |
00020552 |
|
PAN No.: |
ALTPK9688G |
|
|
|
|
Name : |
Mrs. Kanumuru Rama Devi |
|
Designation : |
Director |
|
Address : |
Plot No.212, O Road No.76, Jubllee Hills, Hyderabad - 500096, Andhra Pradesh, India |
|
Date of Birth/Age : |
06.10.1964 |
|
Date of Appointment : |
17.02.1995 |
|
DIN No.: |
00042696 |
|
|
|
|
Name : |
Mr. Dumpala Madhusudhana Reddy |
|
Designation : |
Director |
|
Address : |
Flat No.401, Radhakrishna Enclave, D-68, Madhuranagar, Hyderabad –
500038, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1964 |
|
Date of Appointment : |
29.01.2010 |
|
DIN No.: |
00020567 |
|
|
|
|
Name : |
Mr. Debi Prasad Bagchi |
|
Designation : |
Director |
|
Address : |
Y-165, Regency park II, DLF City, Phase IV, Gurgaon – 122009, Haryana,
India |
|
Date of Birth/Age : |
21.10.1942 |
|
Date of Appointment : |
06.05.2010 |
|
DIN No.: |
00061648 |
|
|
|
|
Name : |
Mr. Potharlanka Sasamka Babu |
|
Designation : |
Director |
|
Address : |
8-3-318/11/18, Jayaprakash Nagar, Yellareddyguda, Hyderabad – 500073,
Andhra Pradesh, India |
|
Date of Birth/Age : |
03.11.1941 |
|
Date of Appointment : |
06.05.2010 |
|
DIN No.: |
00281786 |
|
|
|
|
Name : |
Mr. Arasan K Balraj |
|
Designation : |
Director |
|
Address : |
J-76, Anna Nagar, Chennai – 600102, Tamilnadu, India |
|
Date of Birth/Age : |
07.07.1941 |
|
Date of Appointment : |
06.05.2010 |
|
DIN No.: |
01864772 |
|
|
|
|
Name : |
Mr. Rahul Kumar Yadav |
|
Designation : |
Additional Director |
|
Address : |
The Heaven, Nalagarh Road, Pinjore – 134102, Haryana, India |
|
Date of Birth/Age : |
27.08.1963 |
|
Date of Appointment : |
29.07.2011 |
|
DIN No.: |
01649493 |
|
|
|
|
Name : |
Mr. Abhay Kumar Pandey |
|
Designation : |
Nominee Director |
|
Address : |
1402, Purna, Pocakhanwala Road, Worli Sea Face, Mumbai – 400018,
Maharashtra, India |
|
Date of Birth/Age : |
01.12.1971 |
|
Date of Appointment : |
29.10.2009 |
|
DIN No.: |
01650845 |
|
|
|
|
Name : |
Mr. Vishal Vijay Gupta |
|
Designation : |
Nominee Director |
|
Address : |
71,7th Floor, Free Press House, Free Press Marg, Nariman
Point, Mumbai – 400021, Maharashtra, India
|
|
Date of Birth/Age : |
24.09.1977 |
|
Date of Appointment : |
29.10.2009 |
|
DIN No.: |
01913013 |
KEY EXECUTIVES
|
Name : |
Dr. P V S Jagan Mohan Rao |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Pinnamaraju Venkata Subrahmanya Jaganmohan Rao |
|
Designation : |
Secretary |
|
Address : |
1-1-365/A, Flat-308, Hinasai Gardens, Gilmohar, Jawahar Nagar,
Hyderabad – 500020, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1955 |
|
Date of Appointment : |
16.11.2007 |
|
PAN No.: |
ACUPP5474B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Venture capital |
3.70 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
37.07 |
|
Bodies corporate |
33.81 |
|
Directors or relatives of Directors |
25.37 |
|
Other top fifty shareholders |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The principal activities of the Company are provision of
operating and maintenance facilities relating to electric and all other kinds
of power generation projects, construction and provision of infrastructure
facilities to power projects on Erection, Procurement and Commissioning (EPC)
basis including the responsibility for day to day operations, routine
maintenance and management of the facility and the sale of coal. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Axis Bank, Jubilee Hills Branch, Hyderabad, Andhra Pradesh, India · IDBI Bank, Hyderabad Branch, Chapel Road, Hyderabad, Andhra Pradesh, India ·
Allahabad Bank, Industrial Finance Branch,
Ameerpet, Hyderabad, Andhra Pradesh, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institutions : |
IL & FS Trust Company Limited, IL & FS Financial Centreplot
No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai - 400051,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Reliance Humsafar, IV Floor Road No.11, Banjara Hills, Hyderabad 500 034, Andhra Pradesh, India |
|
PAN No.: |
AAIFB0630K |
|
|
|
|
Subsidiaries : |
· Arkay Energy Rameswarm Limited · Ind Barath Power Gencom Limited · Ind Barath Energies Limited · Ind Barath Energies Thoothukkudi Limited · Ind Barath Energies Maharashtra Limited · Dharmshala Hydro Power Limited · Raghu Rama Renewable Energy Limited · Ind Barath Thermal Power Limited · Ind Barath Energy Utkal Limited · Ind Barath Energies Chhattisgarh Limited · Ind Barath Power Madras Limited ·
PT Indbharath Energy |
|
|
|
|
Step Down
Subsidiary : |
Indira Priyadarshini Hydro Power Private Limited |
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
203431500 |
Equity Shares |
Rs.10/- each |
Rs.2034.315 Millions |
|
7400000 |
10% Non-Cumulative Non- Compulsorily Redeemable Preference Share |
Rs.10/- each |
Rs.74.000 Millions |
|
407090 |
0.01% Class A Cumulative Compulsorily Redeemable Preference Share |
Rs.1000/- each |
Rs.407.090 Millions |
|
718595 |
0.01% Class A1 Cumulative Compulsorily Redeemable Preference Share |
Rs.1000/- each |
Rs.718.595 Millions |
|
20000000 |
0.01% Class B Cumulative Compulsorily Redeemable Preference Share |
Rs.100/- each |
Rs.2000.000 Millions |
|
8333335 |
0.01% Class C Cumulative Compulsorily Redeemable Preference Share |
Rs.100/- each |
Rs.833.334 Millions |
|
|
Total |
|
Rs.6067.334 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
96289767 |
Equity Shares |
Rs.10/- each |
Rs.962.898 Millions |
|
7400000 |
10% Non-Cumulative Non- Compulsorily Redeemable Preference Share |
Rs.10/- each |
Rs.74.000 Millions |
|
407090 |
0.01% Class A Cumulative Compulsorily Redeemable Preference Share |
Rs.1000/- each |
Rs.407.090 Millions |
|
718595 |
0.01% Class A1 Cumulative Compulsorily Redeemable Preference Share |
Rs.1000/- each |
Rs.718.595 Millions |
|
20000000 |
0.01% Class B Cumulative Compulsorily Redeemable Preference Share |
Rs.100/- each |
Rs.2000.000 Millions |
|
8333333 |
0.01% Class C Cumulative Compulsorily Redeemable Preference Share |
Rs.100/- each |
Rs.833.333 Millions |
|
|
Total |
|
Rs.4995.916 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4995.916 |
4995.916 |
4995.916 |
|
(b) Reserves & Surplus |
2581.102 |
2988.109 |
3049.012 |
|
(c) Money
received against share warrants |
604.021 |
604.021 |
604.021 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
8181.039 |
8588.046 |
8648.949 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1200.000 |
1204.093 |
10.278 |
|
(b) Deferred tax liabilities (Net) |
9.605 |
11.280 |
6.144 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.348 |
0.250 |
0.155 |
|
Total Non-current Liabilities (3) |
1209.953 |
1215.623 |
16.577 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2681.695 |
2209.423 |
2148.368 |
|
(b) Trade payables |
156.647 |
240.513 |
7.437 |
|
(c) Other current
liabilities |
243.488 |
66.556 |
10.183 |
|
(d) Short-term provisions |
5.210 |
5.304 |
0.071 |
|
Total Current Liabilities (4) |
3087.040 |
2521.796 |
2166.059 |
|
|
|
|
|
|
TOTAL |
12478.032 |
12325.465 |
10831.585 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
31.895 |
34.134 |
36.418 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11127.380 |
10533.724 |
9418.799 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
19.076 |
2.305 |
0.500 |
|
(e) Other Non-current assets |
2.655 |
10.688 |
13.980 |
|
Total Non-Current Assets |
11181.006 |
10580.851 |
9469.697 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.145 |
0.111 |
0.299 |
|
(d) Cash and cash
equivalents |
17.288 |
20.540 |
77.098 |
|
(e) Short-term loans and
advances |
1271.166 |
1658.914 |
1220.934 |
|
(f) Other current assets |
8.427 |
65.049 |
63.557 |
|
Total Current Assets |
1297.026 |
1744.614 |
1361.888 |
|
|
|
|
|
|
TOTAL |
12478.032 |
12325.465 |
10831.585 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
163.133 |
249.118 |
179.822 |
|
|
|
Other Income |
55.648 |
210.813 |
71.585 |
|
|
|
TOTAL (A) |
218.781 |
459.931 |
251.407 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
155.891 |
240.139 |
168.371 |
|
|
|
Employee benefit expense |
8.559 |
(2.028) |
16.335 |
|
|
|
Other expenses |
65.490 |
36.710 |
33.336 |
|
|
|
TOTAL (B) |
229.940 |
274.821 |
218.042 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(11.159) |
18.110 |
33.365 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
395.214 |
228.897 |
4.161 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(406.373) |
(43.787) |
29.204 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.306 |
2.309 |
2.286 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(408.679) |
(46.096) |
26.918 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.672) |
5.136 |
(0.559) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(407.007) |
(51.232) |
27.477 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(4.23) |
(0.53) |
0.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(186.03)
|
(11.14) |
10.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(250.52)
|
(18.50) |
0.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(30.26)
|
(2.57) |
1.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05)
|
(0.01) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.47
|
0.40 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.42
|
0.69 |
0.63 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
COMPANY OVERVIEW
Subject was incorporated on 17 February 1995. On 29 May 2008, the Company was converted into public company and the name was changed to Ind-Barath Power Infra Limited. The principal activities of the Company are provision of operating and maintenance facilities relating to electric and all other kinds of power generation projects, construction and provision of infrastructure facilities to power projects on Erection, Procurement and Commissioning (EPC) basis including the responsibility for day to day operations, routine maintenance and management of the facility and the sale of coal. The Company also generates electricity using the wind generators which has an installed capacity of 0.75 MW, situated at Idduki, Kerala.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
2129.387 |
1807.800 |
|
Loans and advances from others |
499.096 |
348.412 |
|
Other loans and advances |
53.211 |
53.211 |
|
Total |
2681.694 |
2209.423 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10202062 |
10/12/2012 * |
2,000,000,000.00 |
AXIS BANK LIMITED |
H NO 8-2-293/82/J-III/19, ROAD NO 71, JUBILEE HIL LS, HYDERABAD, ANDHRA PRADESH - 500034, INDIA |
B65895971 |
|
2 |
10090514 |
27/02/2008 |
30,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 6-3-850/3, 1ST FLOOR, AMEERPET MAIN ROAD, HYDERABAD, ANDHRA PRADESH - 500016, INDIA |
A33666009 |
* Date of charge modification
FIXED ASSETS
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Office equipment
· Computer equipments
· Other equipments
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.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.