MIRA
INFORM REPORT
|
Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHAH BROTHERS ISPAT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5A/5B, Trust House,
Dr. E Broges Road, Opposite Shirodkar High School, Parel (East), Mumbai – 400
012, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.08.2004 |
|
|
|
|
Com. Reg. No.: |
11-147842 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.350 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101MH2004PTC147842 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS45609E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS2766A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is involved in
the trading, distribution and supplying of boiler quality plates, mild steel plates,
alloy steel plates, hot-rolled coils and non-alloy steels. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5091000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Management of the company has filed its financial for the year 2013
with the Government Department but the same is not available with us. The financial position of the company is strong during 2012. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for normal business dealings at usual
trade terms and condition. Profit and loss A/c for the year 2012 and 2011 are not available. |
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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating: BB+ (Suspended) |
|
Date |
December, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating: A4+ (Suspended) |
|
Date |
December, 2013 |
Reason for suspension:
The suspension follows ICRA’s inability to
carry out a rating surveillance in the absence of the requisite information
from the company.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 (GENERAL DETAILS)
|
Name : |
Mr. Gaurav Tyagi |
|
Designation : |
Sales Officer |
|
Contact No.: |
91-9990981395 |
|
Date : |
24.12.2013 |
LOCATIONS
|
Registered Office : |
5A/5B, Trust House,
Dr. E Broges Road, Opposite Shirodkar High School, Parel (East), Mumbai – 400
012, Maharashtra, India |
|
Tel. No.: |
91-22-23445445/ 6/ 3/ 23480445 (5 Lines)/ 40555444 |
|
Mobile No.: |
91-9990981395 (Mr. Gaurav Tyagi) |
|
Fax No.: |
91-22-23436928/ 23486928/
40555454 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Warehouse 1 : |
L-5, Taloja Industrial Area, MIDC, Taluka-Panvel, District – Raigad,
Maharashtra, India |
|
Location: |
Owned |
|
|
|
|
Warehouse 2 : |
1425/1426/1427, Kalamboli Warehouse Complex, Kalamboili, Navi Mumbai –
410 218, Maharashtra, India |
|
Location: |
Owned |
|
|
|
|
Branch Office 1 : |
Shop No.718, Loha Mandi, Ghaziabad – 201 001, Uttar Pradesh, India |
|
|
|
|
Branch Office : |
Also located at:
·
Bangalore ·
Bhilai ·
Chennai ·
Delhi ·
Hyderabad ·
Vadodara |
|
|
|
|
Overseas Office
: |
Located at: ·
Dubai |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Rajesh Chinubhai Shah |
|
Designation : |
Director |
|
Address : |
31, Anupam, 11, Manav Mandir Road, Walkeshwar, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
10.07.1965 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
04.08.2004 |
|
PAN No.: |
AQQPS4800C |
|
DIN No.: |
00022645 |
|
|
|
|
Name : |
Mr. Sanjiv Pravin Mehta |
|
Designation : |
Director |
|
Address : |
15, Nirmal Mahal,
Bomanji Petit Road, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
14.12.1963 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
04.08.2004 |
|
PAN No.: |
AACPM6814E |
|
DIN No.: |
00022691 |
|
|
|
|
Name : |
Mr. Chinubhai Himatlal Shah |
|
Designation : |
Director |
|
Address : |
13/3, Anupam,
Manav Mandir Road, Malabar Hill, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
13.03.1936 |
|
Qualification : |
SSC |
|
Date of Appointment : |
04.08.2006 |
|
PAN No.: |
ANVPS8248Q |
|
DIN No.: |
00022747 |
|
|
|
|
Name : |
Mr. Pravin Pranlal Mehta |
|
Designation : |
Director |
|
Address : |
15, Nirmal
Mahal, Bomanji Petit Road, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1935 |
|
Qualification : |
SSC |
|
Date of Appointment : |
04.08.2004 |
|
DIN No.: |
00026803 |
|
|
|
|
Name : |
Mr. Dharmesh Chinubhai Shah |
|
Designation : |
Director |
|
Address : |
1-A/1, Giriraj,
11, Altamount Road, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
25.06.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
04.08.2004 |
|
PAN No.: |
AAGPS0780D |
|
DIN No.: |
00038177 |
KEY EXECUTIVES
|
Name : |
Mr. Gaurav Tyagi |
|
Designation : |
Sales Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Chinubhai Himatlal Shah Jointly Manjuben C.
Shah Jointly Dharmesh C. Shah |
|
72000 |
|
Chinubhai Himatlal Shah Jointly Manjuben C.
Shah Jointly Rajesh C. Shah |
|
72000 |
|
Pravin Pranlal Mehta Jointly Ranjanbala
Mehta Jointly Sanjiv Mehta |
|
215250 |
|
Sanjiv Pravin Mehta Jointly Heena Mehta |
|
257000 |
|
Dharmesh Chinubhai Shah Jointly Sangeeta
Shah |
|
243950 |
|
Rajesh Chinubhai Shah Jointly Minal Shah |
|
243950 |
|
Ranjanbala Pravin Mehta Jointly Pravin P.
Mehta Jointly Sanjiv P. Mehta |
|
80000 |
|
Heena Sanjiv Mehta Jointly Sanjiv P. Mehta |
|
143500 |
|
Pravin P. Mehta HUF through its Karta Pravin
P. Mehta |
|
10000 |
|
Ranjanbala P. Mehta Jointly Pravin P. Mehta |
|
11750 |
|
Chinubhai H. Shah Jointly Manjula C. Shah |
|
85600 |
|
Total |
|
1435000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is involved in the
trading, distribution and supplying of boiler quality plates, mild steel
plates, alloy steel plates, hot-rolled coils and non-alloy steels. |
|
|
|
|
Products : |
· Ferrous and Non - Ferrous Metal · Boiler Quality Plates · High Tensile Steel Plate · Alloy Steel Plate · Mild Steel Products · HR Coils |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Others |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Central Bank of India and 3 Others, Corporate
Finance Branch, 1st Floor, M.M.O Building, M G Road, Fort, Mumbai
– 400 023, Maharashtra, India ·
Bank of Baroda , Cuffe Parade Branch, G.D. Somani
School Building, Mumbai – 400 005, Maharashtra, India ·
State Bank of India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H.M. Mody and Company Chartered Accountants |
|
Address : |
12, Indus Court, A Road, Churchgate, Mumbai – 400 020, Maharashtra,
India |
|
Tel. No.: |
91-22-22046924 |
|
Fax No.: |
91-22-22873255 |
|
Income-tax
PAN of auditor or auditor's firm : |
AGBPM4701B |
|
|
|
|
Subsidiaries : |
Shah Brothers
Ispat FZE |
|
|
|
|
Other Related Parties : |
·
Peacefort Chem-Ind. Engg. ·
New Excelsior Theatre Private Limited ·
Meshco Steels |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1435000 |
Equity Shares |
Rs.10/- each |
Rs.14.350
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 |
|
14.350 |
14.350 |
|
(b) Reserves & Surplus |
|
1258.412 |
1200.815 |
|
(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) |
|
1272.762 |
1215.165 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
86.251 |
46.152 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
3.896 |
3.223 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
90.147 |
49.375 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
291.546 |
240.989 |
|
(b)
Trade payables |
|
2892.187
|
3115.010
|
|
(c)
Other current liabilities |
|
29.503
|
282.687
|
|
(d) Short-term
provisions |
|
0.447
|
89.798
|
|
Total Current
Liabilities (4) |
|
3213.683 |
3728.484 |
|
|
|
|
|
|
TOTAL |
|
4576.592 |
4993.024 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
475.536 |
409.503 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
51.050 |
1.660 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.987 |
1.987 |
|
(c) Deferred tax assets (net) |
|
16.944 |
25.686 |
|
(d) Long-term Loan and Advances |
|
30.350 |
65.106 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
575.867 |
503.942 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1194.413
|
1938.672
|
|
(c)
Trade receivables |
|
2078.128
|
1896.753
|
|
(d) Cash
and cash equivalents |
|
465.203
|
523.356
|
|
(e)
Short-term loans and advances |
|
200.748 |
113.303 |
|
(f)
Other current assets |
|
62.233
|
16.998
|
|
Total
Current Assets |
|
4000.725 |
4489.082 |
|
|
|
|
|
|
TOTAL |
|
4576.592 |
4993.024 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
634.591 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
643.591 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
261.564 |
|
|
2] Unsecured Loans |
|
|
187.500 |
|
|
TOTAL BORROWING |
|
|
449.064 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.472 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1094.127 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
295.945 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1241.357
|
|
|
Sundry Debtors |
|
|
2291.042
|
|
|
Cash & Bank Balances |
|
|
603.147
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
386.334
|
|
Total
Current Assets |
|
|
4521.880 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3152.059 |
|
|
Other Current Liabilities |
|
|
407.836
|
|
|
Provisions |
|
|
163.803
|
|
Total
Current Liabilities |
|
|
3723.698
|
|
|
Net Current Assets |
|
|
798.182
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1094.127 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
7851.491 |
|
|
|
Other Income |
NA |
NA |
334.609 |
|
|
|
TOTAL (A) |
NA |
NA |
8186.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of sales |
|
|
7442.329 |
|
|
|
Administration and other expenses |
|
|
189.477 |
|
|
|
Preliminary expenses written off |
|
|
0.036 |
|
|
|
Increase / decrease in stock |
|
|
178.956 |
|
|
|
TOTAL (B) |
NA |
NA |
7810.798 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
375.302 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
109.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
266.280 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
6.518 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
NA |
259.762 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
40.074 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
NA |
219.688 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.000 |
108.786 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
NA |
4485.168 |
3417.863 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
244.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
NA |
2.68
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
3.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
5.39
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.40
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.30
|
0.24
|
0.70
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.30
|
1.21
|
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term Debt:
Not Available
|
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 one year |
Yes |
|
12) Profitability for last one year |
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) |
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 |
No |
|
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 |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from others |
74.571 |
35.830 |
|
Other loans and advances |
10.000 |
10.000 |
|
Total
|
84.571 |
45.830 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10364746 |
18/06/2012 |
120,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, 1ST FLOOR, MMO BUILDING, M.G. ROAD, MUMBAI,
MAHARASHTRA - 400023, INDIA |
B43296375 |
|
2 |
10364745 |
18/06/2012 |
226,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, 1ST FLOOR, MMO BUILDING, M.G. ROAD, MUMBAI,
MAHARASHTRA - 400023, INDIA |
B43296045 |
|
3 |
10321501 |
24/10/2011 |
700,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,1548/A,
SADASHIV PETH, TILAK ROAD, PUNE, MAHARASHTRA - 411030, INDIA |
B27083369 |
|
4 |
10134345 |
24/11/2008 |
300,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, MMO. BUILDING,1ST FLOOR, M.G. ROAD, FORT, MUMBAI, MAHARASHTRA
- 400001, INDIA |
A53083986 |
|
5 |
10054510 |
18/04/2007 |
150,000,000.00 |
UNION BANK OF
INDIA |
VEER NARIMAN
ROAD BRANCH, RAJ MAHAL, VEER NARIMAN ROAD, CHURCHGATE, MUMBAI, MAHARASHTRA -
400020, |
A16339202 |
|
6 |
10048052 |
20/03/2007 |
500,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, CENTRAL BANK BUILDING, FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
A13088869 |
|
7 |
10110101 |
03/11/2006 |
143,000,000.00 |
BANK OF BARODA |
CUFFE PARADE BRANCH,
G.D. SOMANI SCHOOL BUILDING, G.D. SOMANI SCHOOL MARG, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
A09042284 |
|
8 |
10008546 |
16/03/2012 * |
5,196,400,000.00 |
CENTRAL BANK OF
INDIA AND 3 OTHERS |
CORPORATE
FINANCE BRANCH, 1ST FLOOR, MMO BUILDING, M.G. ROAD, MUMBAI,
MAHARASHTRA - 400023, INDIA |
B42069112 |
|
9 |
80007073 |
04/04/2012 * |
5,196,400,000.00 |
CENTRAL BANK OF
INDIA AND 3 OTHERS |
CORPORATE
FINANCE BRANCH, 1ST FLOOR, MMO BUILDING, M.G. ROAD, MUMBAI, MAHARASHTRA
- 400023, INDIA |
B42068221 |
|
10 |
10006349 |
29/05/2006 |
674,400,000.00 |
UNION BANK OF
INDIA LIMITED |
MAHARASHTRA,
INDIA |
A01341924 |
|
11 |
10006096 |
03/05/2006 |
250,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, 1ST FLOOR, M.G. ROAD, FORT, MUMBAI, MAHARASHTRA -
400023, INDIA |
A00884544 |
|
12 |
10007939 |
29/04/2006 |
50,000,000.00 |
UNION BANK OF
INDIA LIMITED |
MAHARASHTRA,
INDIA |
A01341601 |
* Date of charge modification
Note:
The registered office of the company has been shifted from 406, Giriraj. S.T. Road, Mumbai – 400 009, Maharashtra to the present address w.e.f. 23.03.2012.
CORPORATE
INFORMATION
The year 1958
marked the beginning of a transformation in the Indian steel industry, with the
founding of Shah Brothers. It was the passion, zeal and the vision of its
founders that has brought the group a long way from being a broking firm and
staying in step with the market trade activities, to being the largest
importers and distributors of Boiler Quality Steel Plates in India today.
Subject made its
mark in the industry by pioneering the import of Boiler Quality Steel plates
into India and marketing imports from uncharted regions such as Romania,
Ukraine, Russia and China.
The group truly
believes in the ideology that coming together is a beginning, working together
is progress and forging ahead together is success. They take pride in having
established, nurtured and cemented relationships with world leaders such as
Arcelor Mittal - Romania, Duferco S.A. - Switzerland (owners of Alchevsk -
Ukraine, Clabecq - Belgium, Huta - Poland) and Wuyang Iron and Steel Co. -
China.
Exceeding
expectations and creating new benchmarks with every achievement, SBIPL
maintains its presence and standing in the industry with a sense of pride.
With its
headquarters strategically located in Mumbai, the gateway of Indian trade and
commerce, this dynamic group continues to ensure the smooth flow of inbound
cargo to the satisfaction of its national and international clients
efficiently.
FIXED ASSETS:
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Aircrafts Helicopters
·
Office Equipment
·
Computer 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.62.05 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.