MIRA
INFORM REPORT
|
Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEOSYM INDUSTRY LIMITED [w.e.f. 17.04.2012] |
|
|
|
|
Formerly Known
As : |
INDIAN SMELTING AND REFINING COMPANY LIMITED |
|
|
|
|
Registered Office
: |
Industry
House, 1st Floor, Backbay Reclamation, Churchgate, Mumbai-400020,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.12.1932 |
|
|
|
|
Com. Reg. No.: |
11-001910 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.134
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1932PLC001910 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT00194F/
MUMT08928D/ MUMT09919A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT3782D |
|
|
|
|
Legal Form : |
A
Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing
of Copper, Brass, Bronze, Nickel Silver Sheets, Strips and Foils and
Non-Ferrous Alloys. |
|
|
|
|
No. of Employees
: |
2400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 5050000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of C.K. Birla Group. It is a well established company having a satisfactory track record.
There appears some loss during the current year recorded by the company. However, general financial position of the company seems to be strong.
Trade relations are reported to be fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB [Long Term Bank Facilities] |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation. It carry moderate credit risk. |
|
Date |
17.09.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 [short Term Bank Facilities] |
|
Rating Explanation |
Having moderate degree of safety regarding payment servicing of
financial obligation. It carry higher credit risk. |
|
Date |
17.09.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Ms. Supriya |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-61936363 |
|
Date : |
20.02.2013 |
LOCATIONS
|
Registered Office : |
Industry
House, 1st Floor, Backbay Reclamation, Churchgate, Mumbai-400020,
Maharashtra, India |
|
Tel. No.: |
91-22-61936363 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Casting Factory 1st
Pokhran Road, Panchpakhadi, Thane – 400606, Maharashtra, India |
|
Tel. No.: |
91-22-2588
2801 / 67987101 |
|
Fax No.: |
91-22-67987104 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Gat No. 201, Off Pune – Nagar Road, Sanswadi-412208, Taluka- Shirur,
District- Pune-412208, Maharashtra, India |
|
Tel. No.: |
91-2137-677200 |
|
Fax No.: |
91-2137-677228 |
|
E-Mail : |
DIRECTORS
AS ON 11.06.2012
|
Name : |
Mr.
Chandrakant Birla |
|
Designation : |
Chairman |
|
Address : |
24, Aurangzeb Road, New Delhi- 110110, India |
|
Date of Birth/Age : |
09.01.1955 |
|
Date of Appointment : |
31.10.2000 |
|
DIN No.: |
00118473 |
|
|
|
|
Name : |
Mr.
Chiranjilal Gograj Joshi |
|
Designation : |
Director |
|
Address : |
A-11,
Building No.17, Government Officers Flats, Hali Ali Park, Mumbai – 400034,
Maharashtra, India |
|
Date of Birth/Age : |
01.08.1929 |
|
Date of Appointment : |
18.05.1989 |
|
DIN No.: |
00328553 |
|
Election Commission Identity Card No.: |
DL/01/002/228412 |
|
|
|
|
Name : |
Mr.
Ananthanarayanan Shankar Narayanna |
|
Designation : |
Director |
|
Address : |
12, First Avenue,
Harrington Road, Chetput, Chennai – 600031, Tamilnadu, India |
|
Date of Birth/Age : |
29.07.1942 |
|
Date of Appointment : |
06.07.2004 |
|
DIN No.: |
00385632 |
|
|
|
|
Name : |
Mr. Athul Singhi |
|
Designation : |
Managing Director
|
|
Address : |
Flat 401, A EI Dorado, Kashinath Dhuru Marg, Prabhadevi,
Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1957 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
31.10.1994 |
|
DIN No.: |
00166392 |
|
|
|
|
Name : |
Mrs. Amita Birla |
|
Designation : |
Director |
|
Address : |
24, Aurangzeb Road, New Delhi- 110110, India |
|
Date of Birth/Age : |
07.12.1956 |
|
Date of Appointment : |
11.07.2007 |
|
DIN No.: |
00837718 |
|
|
|
|
Name : |
Mr. Srinivasa Varadhan Echambadi Tirumalai |
|
Designation : |
Director |
|
Address : |
B – 249, First Floor, Greater Kailash, Part I, New Delhi –
110048, India |
|
Qualification : |
29.03.1956 |
|
Date of Appointment : |
21.04.2006 |
|
DIN No.: |
00263942 |
KEY EXECUTIVES
|
Name : |
Mr. N.K. Jhunjhunwala |
|
Designation : |
Senior Vice President and Company Secretary |
|
Address : |
Building No. A 3/10, Flat No. 502, Flower Valley Complex, Off Eastern
Express Highway, Thane-400062, Maharashtra, India |
|
Date of Birth/Age : |
15.02.1962 |
|
Date of Appointment : |
01.01.2012 |
|
Pan No.: |
AEVPJ2766B |
|
|
|
|
Name : |
Ms. Supriya |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.06.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 11.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
37.08 |
|
Directors
or relatives of directors |
|
0.03 |
|
Other
top fifty shareholders |
|
62.80 |
|
Others
|
|
0.09 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
of Copper, Brass, Bronze, Nickel Silver Sheets, Strips and Foils and
Non-Ferrous Alloys. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit [30, 60 and 90 Days] |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit [30, 60 and 90 Days] |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production* |
|
Non-Ferrous
Sheets, Strips, Foils and Alloys |
MT |
14730 |
10336 |
|
S.G. Iron Castings |
MT |
36000 |
30765 |
NOTE: * Including Job Work.
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and OEM’s |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
2400 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, Backbay Reclamation
Branch, Ram Mahal, Backbay Reclamation, Mumabi-400020, Maharashtra, India Tel No.:
91-22-22871687 ·
Union Bank of India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Landesbank Baden-Wurttemberg, Am Hauptbahnhof 2, 70173 Stuttgart, Federal Republic
of Germany, Stuttgart, DE 31061, Germany |
|
|
|
|
Auditors : |
|
|
Name : |
M. M.
Nissim and Company Chartered
Accountants |
|
Address : |
Barodawala Mansion, B-Wing, 3rd Floor, 81, Dr. Annie Besant
Road, Worli, Mumbai-400018, Maharashtra, India |
|
Tel. No.: |
91-22-24949991 |
|
Fax No.: |
91-22-24949995 |
|
E-Mail : |
|
|
PAN No: |
AACPN0423A |
|
|
|
|
Memberships : |
Confederation
of Indian Industry |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
40000 |
Preferences Shares |
Rs.100/- each |
Rs.40.000 Millions |
|
|
Total
|
|
Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
613400 |
Equity Shares |
Rs.10/- each
|
Rs.6.134
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.134 |
6.134 |
6.134 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1257.783 |
1265.570 |
1185.679 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1263.917 |
1271.704 |
1191.813 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1428.134 |
408.099 |
395.562 |
|
|
2] Unsecured Loans |
8.682 |
8.688 |
6.629 |
|
|
TOTAL BORROWING |
1436.816 |
416.787 |
402.191 |
|
|
DEFERRED TAX LIABILITIES |
23.943 |
27.811 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2724.676 |
1716.302 |
1594.004 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
744.489 |
756.034 |
783.278 |
|
|
Capital work-in-progress |
1004.109 |
28.893 |
24.495 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.015 |
3.015 |
3.015 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
18.271 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
587.724
|
655.252 |
534.233
|
|
|
Sundry Debtors |
792.124
|
806.543 |
689.076
|
|
|
Cash & Bank Balances |
2.877 |
10.217 |
5.448
|
|
|
Other Current Assets |
52.496
|
46.097 |
2.541
|
|
|
Loans & Advances |
435.973
|
268.999 |
196.700
|
|
Total
Current Assets |
1871.194
|
1787.108 |
1427.998 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
632.830
|
695.526 |
492.858
|
|
|
Other Current Liabilities |
236.630
|
133.974 |
130.473
|
|
|
Provisions |
28.671
|
29.248 |
39.722
|
|
Total
Current Liabilities |
898.131
|
858.748 |
663.053
|
|
|
Net Current Assets |
973.063
|
928.360 |
764.945
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2724.676 |
1716.302 |
1594.004 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5457.041 |
5273.500 |
3911.911 |
|
|
|
Other Income |
35.711 |
14.987 |
50.152 |
|
|
|
TOTAL (A) |
5492.752 |
5288.487 |
3962.063 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3572.370 |
3560.697 |
|
|
|
|
Employee benefit expense |
514.137 |
431.804 |
|
|
|
|
Other expenses |
1189.755 |
1057.044 |
3722.614 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
6.844 |
(69.669) |
|
|
|
|
TOTAL (B) |
5283.106 |
4979.876 |
3722.614 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
209.646 |
308.611 |
239.449 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
103.885 |
75.735 |
66.987 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
105.761 |
232.876 |
172.462 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
111.329 |
102.289 |
101.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(5.568) |
130.587 |
71.394 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(4.910) |
43.543 |
15.146 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(0.658) |
87.044 |
56.248 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
110.288 |
43.447 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.963 |
13.050 |
5.625 |
|
|
|
Proposed Dividend |
6.134 |
6.134 |
6.134 |
|
|
|
Corporate Dividend Tax |
0.995 |
1.019 |
1.042 |
|
|
BALANCE CARRIED
TO THE B/S |
91.538 |
110.288 |
43.447 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
683.596 |
|
|
|
Other Earnings |
NA |
NA |
0.659 |
|
|
TOTAL EARNINGS |
NA |
NA |
684.255 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
493.562 |
NA |
102.891 |
|
|
|
Stores & Spares |
0.000 |
NA |
4.734 |
|
|
|
Capital Goods |
0.000 |
NA |
3.311 |
|
|
|
Others |
30.389 |
30.389 |
0.000 |
|
|
TOTAL IMPORTS |
523.951 |
30.389 |
110.936 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.07) |
142.00 |
91.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.01)
|
1.65 |
1.42
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.10)
|
2.47 |
1.83
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.21)
|
5.13 |
3.23
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.10 |
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.14
|
0.33 |
0.34
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08
|
2.08 |
2.15
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
632.830
|
695.526 |
492.858
|
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
GENERAL AND
OPERATIONS:
The company has
posted results during the year with total turnover of Rs.5430.000 Millions, up
from Rs.5240.000 Millions in the previous year, registering a growth of 3.63%.
Gross profit is at Rs.105.800 Millions (Rs.232.900 Millions in the previous
year). Exports, including deemed exports, have risen to Rs.1356.600 Millions
from Rs. 1159.600 Millions last year, a growth of 16.99%. Substantial rise in
costs of Raw Materials and energy affected operating margins.
The company
believes in sustainable growth. Casting factory of the company at Pune is
installing a new state of the art facility to manufacture Engine Blocks and
Heads at an outlay of Rs.1450.000 Millions. Trial runs at this new facility
with advanced technology and equipment with real time controls have started in
April 2012. With this addition, the installed capacity of the Casting Factories
will increase from 35,000 TPA to 65,000 TPA, in addition to boosting the
domestic and export business of the company.
Buoyed by a positive market environment, the company is investing in
overall skill enhancement in human resource, technology and equipment.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10022199 |
|
Corporate
identity number of the company |
U74999MH1932PLC001910 |
|
Name of the
company |
NEOSYM INDUSTRY
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Industry
House, 1st Floor, Backbay Reclamation, Churchgate, Mumbai-400020,
Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property |
|
Particular of
charge holder |
Bank
of Baroda, Backbay Reclamation Branch, Ram
Mahal, Backbay Reclamation, Mumabi-400020, Maharashtra, India Email: backba@bankofbaroda.com |
|
Nature of
description of the instrument creating or modifying the charge |
Letter dated 07/08/2012
of Standard Chartered Bank releasing the property situated at Bhandup and as
on date there are no dues outstanding in the books of standard chartered
Bank. |
|
Date of
instrument Creating the charge |
07.08.2012 |
|
Amount secured by
the charge |
Rs.400.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed between
the Bank and the Borrower. Terms of Repayment As agreed between
the Bank and the Borrower Margin As per Bank Rate. Extent and Operation of the charge SCB has released
its charge on equitable mort. of land or ground situated at Kanjur Vill. in
Bhandup, admg.67,966.14 sq. mtrs. or thereabouts bearing City Sr. Nos.599 601
602 and 606 (all freehold) and 596 597, 598, 603, 604 605 and 607 (part) (all
leasehold) and Khot's Nos.86 (parts 3,5,6 and 9), 88 (parts 1 to 5 and 7 to
9) 89 (parts 1, 35, to 9, 11 and 12) 90 (parts 2,3,5,7,8,9 11 12 and 13 )91
(parts 2 to 7 and 93....... As on date
there are no dues outstanding in the books of Standard Chartered Bank. |
|
Short particulars
of the property charged |
The whole of the
current assets of the Borrower namely stocks both present and future, viz.
raw materials, semi finished goods, finished goods, goods in transit, stores
and spares not relating to Plant and
machinery (consumable stores and spares) and bills receivable, book debts and
other movables both present and future. All present and
future of movable properties of the Borrower including without limitation its
movable plant and machinery, furniture and fittings, equipment, computers
hardware, computer software, machinery spares tools and accessories and other
movables. All that piece or
parcel of land together with godown standing thereon all appurtenances
measuges and other hereditaments and bearing Gat No.201, admg.17 Acres eq. to
68,846 sq. mts. at Village Sanaswadi Taluka Shirur, Pune. All that piece
and parcel of land, admeasuring 16163 sq. mtrs. forming eastern part of Gat
No.201 at Village Sanaswadi Taluka Shirur, Pune. |
|
Date of latest
modification prior to the present modification |
01.08.2012 |
|
Particulars of
the present modification |
The charge is
reduced from Rs.610.000 Millions to Rs.400.000 Millions and Standard
chartered Bank has released its charge on equitable mort. of land or ground
situated at Kanjur Vill. in Bhandup, admg.67,966.14 sq. mtrs. or thereabouts
bearing City Sr. Nos.599 601 602 and 606 (all freehold) and 596 597, 598,
603, 604 605 and 607 (part) (all leasehold) and Khot's Nos.86 (parts 3,5,6
and 9), 88 (parts 1 to 5 and 7 to 9).......... As on date there are no dues outstanding in
the books of Standard Chartered Bank. |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Office Equipments
·
Vehicles
·
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 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.54.05 |
|
|
1 |
Rs.83.45 |
|
Euro |
1 |
Rs.72.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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.