|
Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAURASHTRA FUELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C/93, 9th Floor, Mittal Tower, Nariman Point, Mumbai –
400021, |
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Country : |
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|
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.12.1993 |
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Com. Reg. No.: |
11-075455 |
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Capital
Investment / Paid-up Capital : |
Rs. 49.501 millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U23200MH1993PTC075455 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS18257B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of low ash metallurgical coke (LAM coke). |
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|
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No. of Employees
: |
1000 (Approximately) |
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 1140000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Latest
financials are not available. Mr. Vikas Sawant (Import Export Manager)
provided to us all information. Sales turnover seems to be increasing during
the year 2012 but the financials are not verified. From the verified
financials of 2010. It seems that the company has continuously incurred a
loss from its operation. However, trade relations are reported as fair.
Business is active. Payments are unknown. The company can b considered for business dealings with some caution. Note: Due to technical error in the government sites, we hereby provide you the report with available details and we would provide you with a on the same company as soon as we get the additional information. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
B (Fund Based Limit) |
|
Rating Explanation |
The risk prone credit quality. It carry high credit risk. |
|
Date |
October 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4 (Non Fund Based Limits) |
|
Rating Explanation |
The risk prone credit quality. It carry high credit risk. |
|
Date |
October 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Vikas Sawant |
|
Designation : |
Import Export Manager |
|
Contact No.: |
91-22-40467500 |
|
Date : |
06.02.2013 |
LOCATIONS
|
Registered/Corporate Office : |
Office 93, 9th Floor, Mittal Tower, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-66550621 / 40467500 |
|
Fax No.: |
91-22-66550623 |
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E-Mail : |
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|
Website: |
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|
Location: |
Owned |
|
|
|
|
Porbandar Office : |
4th Floor, Shree Chambers, Opposite M.E.M.School, Near Kamla Nehru
Baug, Porbander-360575, |
|
Tel. No.: |
91-286-2243586 |
|
Fax No.: |
91-286-2240908 |
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|
|
|
Ahmedabad Office : |
202, Sarthik – II, Opposite Rajpath Club, |
|
Tel. No.: |
91-79-40227500 |
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Fax No.: |
91-79-40034142 |
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E-Mail : |
|
|
|
|
|
Mundra Office : |
Maha Shakti Coke, 2nd Floor, Saurashtra CFS, |
|
Tel. No.: |
91-2838-222525 |
|
Fax No.: |
91-2838-224141 |
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|
|
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Factory 1 : |
Village Lakhapur and Baraya, Mundra, Kutch – 370421, |
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Factory 2 : |
Village Bhod, Ranavav, Porbandar – 360575, |
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DIRECTORS
|
Name : |
Mr. Dipak Santosh Agarwalla |
|
Designation : |
Director |
|
Address : |
13/14, 13th Floor, |
|
Date of Appointment : |
06.12.1993 |
|
DIN No.: |
00267085 |
|
|
|
|
Name : |
Mr. Surendra Kumar Sinha |
|
Designation : |
Director |
|
Address : |
Brahma House, Dhirendra Puram, Dhaiya, P.O-ISM, Dhanbad - 826004, |
|
Date of Appointment : |
06.12.2003 |
|
DIN No.: |
01511505 |
KEY EXECUTIVES
|
Name : |
Mr. Vikas Sawant |
|
Designation : |
Import Export Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.08.2011
|
Names of Shareholders |
No. of Shares |
|
Dipak Agarwalla |
181750 |
|
Surendra Kumar Sinha |
1624890 |
|
Dipak Agarwalla – HUF |
72800 |
|
Vibha Agarwalla |
78800 |
|
Molshree Trade Invest Private Limited, |
166600 |
|
Divyajyoti Holdings Private Limited, |
166600 |
|
Surendra Kumar Sinha – HUF |
33550 |
|
Navin Kumar Sinha |
150000 |
|
Great Valley Company Limited, |
1475100 |
|
Kirti G. Saparia |
10 |
|
Total |
4950100 |
Equity Share Break up (Percentage of Total Equity)
As on 25.08.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
29.80 |
|
Bodies corporate |
29.08 |
|
Directors or relatives of Directors |
41.12 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of low ash metallurgical coke (LAM coke). |
|
|
|
|
Exports : |
|
|
Products : |
Low ash metallurgical coke (LAM coke). |
|
Countries : |
v
v
v
v
v
v
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Suppliers : |
F. F. Trading Corporation, |
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Customers : |
End Users |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
v
State Bank of India, Commercial Branch,
Paramsiddhi Complex, Opposite V. S. Hospital, Ellis Bridge, Ahmedabad –
380006, Gujarat, India v
State Bank of v
State Bank of Travancore v
ING Vysya Bank Limited v
Development Credit Bank Limited v
HDFC Bank Limited v
ICICI Bank v
Punjab National Bank, v
Union Bank of India, Overseas Branch, Union Bank
Bhavan, Ground Floor, 239, Vidhan Bhavan Marg, Nariman Point Mumbai-400021,
Maharashtra, India v
State Bank of Saurashtra Bhadra Branch,
Ahmedabad, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Pravin Kumar and Associates Chartered Accountants |
|
Address : |
33/ 2nd Floor, 160, |
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PAN No.: |
AABPA5760C |
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|
|
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Subsidiaries : |
·
Saurashtra Ferrous Private Limited CIN No.: U27100MH2005PTC152830 ·
Kutch Coal Carbonization Private Limited CIN No.: U10102GJ2002PTC040374 ·
Hindustan Fuels Private Limited ·
CIN No.: U10102GJ2004PTC044337 ·
Classic Energy ( CIN No.: U23100GJ2004PTC044962 ·
Kandla Powers Private Limited CIN No.: U40100MH2004PTC149461 ·
Saurashtra World Holding Private Limited |
|
|
|
|
|
·
DKS Shipping Private Limited ·
Saurashtra Exims Private Limited ·
Brahma Refectories Private Limited ·
Swapnalok Properties Private Limited ·
Magnum Shipping ·
Saurashtra Containers Private Limited ·
Saurashtra Power Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,500,000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,950,100 |
Equity Shares |
Rs.10/- each |
Rs.49.501
Millions |
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|
|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
49.501 |
49.501 |
49.501 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
235.426 |
509.294 |
971.421 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
284.927 |
558.795 |
1020.922 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1936.240 |
604.640 |
1142.719 |
|
|
2] Unsecured Loans |
783.257 |
523.038 |
420.856 |
|
|
TOTAL BORROWING |
2719.497 |
1127.678 |
1563.575 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
228.129 |
|
|
|
|
|
|
|
|
TOTAL |
3004.424 |
1686.473 |
2812.626 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1142.059 |
1438.020 |
1762.799 |
|
|
Capital work-in-progress |
0.000 |
6.089 |
17.619 |
|
|
|
|
|
|
|
|
INVESTMENT |
304.929 |
374.508 |
110.936 |
|
|
DEFERREX TAX ASSETS |
102.540 |
100.277 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3678.425
|
3768.767 |
1744.791 |
|
|
Sundry Debtors |
347.830
|
116.003 |
656.849 |
|
|
Cash & Bank Balances |
95.614
|
293.541 |
482.218 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
173.574
|
232.788 |
237.934 |
|
Total
Current Assets |
4295.443
|
4411.099 |
3121.792 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
2816.565
|
4642.473 |
2112.413 |
|
|
Provisions |
23.982
|
1.047 |
88.107 |
|
Total
Current Liabilities |
2840.547
|
4643.520 |
2200.520 |
|
|
Net Current Assets |
1454.896
|
(232.421) |
921.272 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3004.424 |
1686.473 |
2812.626 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5408.556 |
9202.190 |
3379.724 |
|
|
|
Other Income |
471.802 |
86.168 |
92.514 |
|
|
|
TOTAL (A) |
5880.358 |
9288.358 |
3472.238
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumption |
5404.489 |
6283.981 |
2205.233 |
|
|
|
Cost of Trade goods |
196.367 |
2126.860 |
415.474 |
|
|
|
Stores consumed |
9.985 |
20.265 |
10.405 |
|
|
|
Power and fuel oil |
78.830 |
62.660 |
28.936 |
|
|
|
Employees cost |
93.103 |
119.499 |
57.217 |
|
|
|
Repairs and maintenance |
55.065 |
140.326 |
120.459 |
|
|
|
Director remuneration |
27.603 |
26.811 |
17.000 |
|
|
|
Establishment and other Exp |
201.331 |
79.788 |
132.088 |
|
|
|
Selling and Distribution exp |
114.945 |
97.139 |
61.518 |
|
|
|
Increase/(Decrease ) in stock |
(506.290) |
635.732 |
(534.071) |
|
|
|
TOTAL (B) |
5675.428 |
9593.061 |
2514.259 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
204.930 |
(304.703) |
957.979 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
255.628 |
202.641 |
106.917 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(50.698) |
(507.344) |
851.062 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
213.407 |
273.016 |
135.768 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
(264.105) |
(780.360) |
715.294 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.762 |
318.233 |
336.446 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-I) (I) |
(273.867) |
(462.127) |
378.848 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
469.294 |
931.421 |
552.573 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
195.427 |
469.294 |
931.421 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F. O. B value of Export |
518.211 |
2706.373 |
34.053 |
|
|
TOTAL EARNINGS |
518.211 |
2706.373 |
34.053 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
110.528 |
1079.360 |
368.716 |
|
|
|
Raw Materials |
4532.562 |
8201.049 |
2657.514 |
|
|
TOTAL IMPORTS |
4643.090 |
9280.409 |
3026.230 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(55.32) |
(93.35) |
76.53 |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
15000.000 |
12000.000 |
|
|
|
|
|
Expected Sales ( 2012-13 ) : Rs. 10000.000 millions [Due to Market
Condition]
The above information has been parted by Mr. Vikas Sawant
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(4.65)
|
(4.97) |
10.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.88)
|
(8.48) |
21.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.85)
|
(13.34) |
0.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Net worth) |
|
(0.92)
|
(1.39) |
0.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.96
|
10.32 |
3.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
0.94 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS
The Company
has produced 389605 MT of Low Ash Metallurgic Coke (LAM Coke) as against
330849, registering a growth of 17% as compared to the previous year.
The
Coke demand is expected to increase in view of the expansion of steel capacity
in
The
Company is operating two wind mills in
UNSECURED LOAN:
|
Unsecured Loan |
As
on 31.03.2010 (Rs.
In Millions) |
As
on 31.03.2009 (Rs.
In Millions) |
|
Loans |
172.258 |
1.750 |
|
Deferred Sales Tax Liabilities |
610.999 |
521.288 |
|
Total |
783.257 |
523.038 |
Contingent Liabilities not provided for (31.03.2010):
·
Corporate
Guarantee in favour of Subsidiary and Associate Company – Rs.709.000 Millions
·
Guarantees
issued to the Company by its banker
secured by fixed deposits – Rs.3.044 Millions
·
Outstanding Bills
discounted by bank – Rs.6.362 Millions
·
For Income tax
demand pending under Appeals – 129.994 Millions
·
Sales Tax –
Rs.6.211 Millions
·
Estimated amount
of contracts remaining to be executed on capital account and not provided – Nil
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U23200MH1993PTC075455 |
|
Name of the
company |
SAURASHTRA FUELS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Office 93, 9th
Floor, Mittal Tower, Nariman Point, Mumbai – 400021, Email Id : mumbai@saurashtracorp.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of
India, Commercial Branch, Paramsiddhi Complex, Opposite V.S. Hospital, Ellis
Bridge, Ahmedabad – 380006, Gujarat, India Email Id : rm.1cbahm@sbi.co.in |
|
Nature of
instrument creating charge |
Supplemental
Memorandum of deposit of title deeds for extension of equitable mortgage |
|
Date of
instrument Creating the charge |
07.07.2011 |
|
Amount secured by
the charge |
Rs.3536.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1.Term Loan and
Working Capital Term Loan: 1.00% below SBAR with reset after two years 2.Funded Interest
Term Loan:- 2.00% below SBAR 3.FBWC Limit Terms of repayment FBWC : Payable on
demand Term Loan,
Working Capital Term Loan (WCTL) and Funded Interest Term Loan (FITL) to be
repaid in 24 quarterly installments commencing after moratorium period of two
years i.e. repayment to commence from June 2011 in stepped up basis Margin Stocks-25%,
Receivables/Book debts (cover 90 days) -50%, Letter of Credit (Max. usance
180 days)- 15% and Bank Guarantee-15% Extent and operation of the charge First Pari passu
Charge over the immovable Property at Mundra ,Probandar and one Wind Mill at
S.No. 380/p, Village Lamba, to secure term lenders for their aggregate limit
of Rs.2120.700 Millions and Exclusive pari passu basis over the immovable
Property at (1) Plot No. 22 paiki, porbandar, (2) C/93 and C/91 Mittal Tower,
Nariman Point Mumbai and Office No 720,721 and 722 at Vasundhara complex ,
Porbandar to secure total limit of Rs.1415.500 Millions to WC lenders Other Company has
created equitable mortgage (EM) on 24.12.2009 and same has been registered
under CID 10201417 for Hypothecation of movable assets and EM of Immovable
property for total facility of Rs.2598.100 Millions. Now Company/bank want to
split the charge (a) for hypothecation of movable assets and (b) for mortgage
of Immovable Property Hence fresh charge over the immovable prop. for present
enhancement aggregate facility of Rs.3536.200 Millions is being filed |
|
Short particulars
of the property charged (Including location of the property) |
Survey No. 170/1,
admeasuring 42489 sq. mtrs, situated at Village- Bhod, Taluka - Ranavav,
District -Porbandar, Survey No. 170/2,
admeasuring 42489 sq. mtrs, situated at Village- Bhod, Taluka - Ranavav,
District -Porbandar, Survey No. 171,
admeasuring 56859 sq. mtrs, situated at Village- Bhod, Taluka - Ranavav,
District -Porbandar, Survey No. 176/4, admeasuring 9004 sq. mtrs,
situated at Village- Bhod, Taluka - Ranavav, District -Porbandar, Survey No. 165
admeasuring 30255 sq. mtrs & Survey No. 167 admeasuring 41787 sq. mtrs
situated at Village- Lakhapar, Taluka Mundra, Dist. Kachchh, Survey No. 166/1
admeasuring 63435 sq. mtrs situated at
Village- Lakhapar, Taluka Mundra, Dist. Kachchh, Survey No. 168
admeasuring 34702 sq. mtrs situated at
Village- Lakhapar, Taluka Mundra, Dist. Kachchh, Survey No. 170
admeasuring 51800 sq. mtrs situated at
Village- Lakhapar, Taluka Mundra, Dist. Kachchh, Survey No. 44
admeasuring 35309 sq. mtrs situated at
Village- Baraya, Taluka Mundra, Dist. Kachchh, Other immovable
Properties |
TRADE REFERENCES:
v F. F. Trading
Corporation,
Fixed Assets
v
Free hold land
v
Building-Factory –Office- Resevio
v
Building-office
v
Plant and Machinery
v
Wind Mills
v
Furniture and Fixture
v
Office equipments
v
Computer
v
Weighbridge
v
Vehicles
v
Ship M V Shakti
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 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.53.29 |
|
|
1 |
Rs.83.97 |
|
Euro |
1 |
Rs.71.88 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.