MIRA
INFORM REPORT
|
Report Date : |
26.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
STERLING GENERATORS PRIVATE LIMITED (w.e.f. 28.06.2005) |
|
|
|
|
Formerly Known
As : |
CHINSHA INVESTMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10th Floor, Universal Majestic, P.L. Lokhande Marg, Chembur, Mumbai –
400043,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-085899 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.300.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1995PTC085899 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC6140R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Generator and Electrical
Control Panels. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1770000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Shapoorji Pallonji and Company Limited’.
It is an established company having a moderate track record. It has incurred loss from its operation during 2012. There also appear
huge external borrowings recorded by the company which heavily exceeds the
net worth. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings with some caution. |
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 |
ICRA |
|
Rating |
BBB (Cash Credit) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
March 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3+ (Letter of Credit) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
March 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
|
Name : |
Mr. Rajiv Mistry |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-25526100 |
|
Date : |
23.02.2012 |
LOCATIONS
|
Registered Office : |
10th Floor, Universal Majestic, P.L. Lokhande Marg, Chembur, Mumbai –
400043,
Maharashtra, India |
|
Tel. No.: |
91-22-25526100/ 25485300 |
|
Fax No.: |
91-22-25526200/ 25485331 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
# 8 and 9, Sundaram Industrial Estate, Beside USV limited, |
|
Tel. No.: |
91-22-25526100/25526221 |
|
Fax No.: |
91-22-25526200 |
|
E-Mail : |
panelsales.mumbai@sterlinggenerators.com |
|
|
|
|
Marketing : |
A-7, Sector-6, Ground Floor, Opposite Rohan Motors, Noida – 201301,
Uttar Pradesh, India |
|
Tel. No.: |
91-120-4515600 |
|
|
|
|
Corporate Office : |
Kasturi, Sanghavi Estate, Govandi Station, Road, Govandi
(East), Mumbai – 400 088', Maharashtra, India |
|
Tel No.: |
91-22-25485300 |
|
Fax No.: |
91-22-25485331 |
|
|
|
|
Factory Office : |
Survey No. 59, 343/1 Village Kala, Kherdi, Khanvel Silvassa, U.T of Dadra and Nagar Haveli |
|
Tel. No.: |
91-260-2677408/ 419 |
|
Fax No.: |
91-260/2677408 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at: · Bengaluru · Mumbai · Pune · Kolkata · Hyderabad · Noida · Ahmedabad · Chennai · Cochin ·
Vadodara |
DIRECTORS
As on: 27.09.2012
|
Name : |
Mr. Jimmy Jehangir Parakh |
|
Designation : |
Director |
|
Address : |
502, |
|
Date of Birth/Age : |
01.10.1949 |
|
Date of Appointment : |
24.02.1995 |
|
DIN No.: |
00004945 |
|
|
|
|
Name : |
Mrs. Zarine Yazdi Daruvala |
|
Designation : |
Director |
|
Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi Colony, Dadar,
Mumbai – 400014, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1944 |
|
Date of Appointment : |
02.05.2005 |
|
PAN No.: |
AECPD6525K |
|
DIN No.: |
00190585 |
|
|
|
|
Name : |
Mr. Khurshed Yazdi Daruvala |
|
Designation : |
Whole Time Director |
|
Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi Colony, Dadar,
Mumbai – 400014, Maharashtra, India |
|
Date of Birth/Age : |
22.03.1969 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AACPD7565R |
|
DIN No.: |
00216905 |
|
|
|
|
Name : |
Mrs. Kainaz Khurshed Daruvala |
|
Designation : |
Whole Time Director |
|
Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi Colony, Dadar, Mumbai
– 400014, Maharashtra, India |
|
Date of Birth/Age : |
11.12.1973 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
00276056 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Mistry |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
Shapoorji Pallonji and Company Limited , India |
16799999 |
56.00 |
|
Shapoorji Pallonji and Company Limited , India Jointly with Mr. Jimmy M. Parakh |
1 |
0.00 |
|
Daruvala Khurshed Kainaz Jointly with Daruvala Khurshed Delna |
4082500 |
13.60 |
|
Daruvala Khurshed Kainaz Jointly with Daruvala Khurshed Jehan |
4082489 |
13.60 |
|
Rashmi Vasant Gokhale Jointly with Daruvala Yazdi Khurshed |
1 |
0.00 |
|
Madan Pesi Zarir Jointly with Daruvala Yazdi Khurshed |
1 |
0.00 |
|
Aloo Tata |
1 |
0.00 |
|
Unwalla Homi Farhad Jointly with Daruvala Khurshed Kainaz |
1 |
0.00 |
|
Unwalla Farhad Zenobia Jointly with Daruvala Khurshed Kainaz |
1 |
0.00 |
|
Lalla Rishad Jointly Daruvala Khurshed Kainaz |
1 |
0.00 |
|
Madan Zarir Pervin Jointly with Daruvala Khurshed Kainaz |
1 |
0.00 |
|
Bhagat Jehangir Kersi Jointly with Daruvala Khurshed Kainaz |
1 |
0.00 |
|
Bhagat Kersi Zarine Jointly with Daruvala Khurshed Kainaz |
1 |
0.00 |
|
Daruvala Merwan Kersi Jointly with Daruvala Khurshed Kainaz |
1 |
0.00 |
|
Daruvala Yazdi Khurshed |
5034999 |
16.78 |
|
Adil Meharwan Daruvala Jointly with Khurshed Y.Daruvala |
1 |
0.00 |
|
Dilnavaz Kersi Daruvala Jointly with Khurshed Y.Daruvala |
1 |
0.00 |
|
|
|
|
|
Total |
30000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
56.00 |
|
Directors or relatives of directors |
|
44.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Generator and Electrical
Control Panels. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Dubai |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
·
JP Morgan ·
Tata Consultancy Services ·
Tata Communication ·
Cairn ·
Airtel ·
Infosys ·
The Times of India
·
Dell ·
Sail ·
Wipro
·
NTPC
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
500 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Axis Bank Limited, 209, Ground Floor, Atlanta, Nariman Point Branch,
Mumbai-400021, Maharashtra, India Tel. No.: 91-22-22834296 |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountant |
|
Address : |
Kalpataru Heritage, |
|
Tel No.: |
91-22-61587200 |
|
Fax No.: |
91-22-22673964 |
|
PAN No.: |
AAAFK7554R |
|
|
|
|
Holding Company : |
Shapoorji Pallonji and Company Limited CIN No.: U45200MH1943PLC003812 |
|
|
|
|
Relatives of Key
management personnel : |
CIN No.: U70100MH1995PTC088637
CIN No.: U51504MH2008PTC181253 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
30000 |
Preference Shares |
Rs.1000/- each |
Rs.30.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.330.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000
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 |
300.000 |
300.000 |
300.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
144.710 |
225.367 |
119.224 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
444.710 |
525.367 |
419.224 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1311.254 |
1018.970 |
784.076 |
|
|
2] Unsecured Loans |
1141.400 |
747.400 |
969.163 |
|
|
TOTAL BORROWING |
2452.654 |
1766.370 |
1753.239 |
|
|
DEFERRED TAX LIABILITIES |
0.0000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2897.364 |
2291.737 |
2172.463 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
260.726 |
258.739 |
141.195 |
|
|
Capital work-in-progress |
0.000 |
0.086 |
18.793 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
10.141 |
1.243 |
7.909 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1560.884
|
1464.989 |
990.549
|
|
|
Sundry Debtors |
1575.323
|
1158.917 |
1263.554
|
|
|
Cash & Bank Balances |
74.052
|
82.526 |
168.156
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Other Non Current Assets |
16.486
|
25.720 |
0.000 |
|
|
Loans & Advances |
312.412
|
258.134 |
195.062 |
|
Total
Current Assets |
3539.157
|
2990.286 |
2617.321 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
628.835
|
656.042 |
521.733
|
|
|
Other Current Liabilities |
264.999
|
250.641 |
79.603
|
|
|
Provisions |
18.826
|
51.934 |
11.419
|
|
Total
Current Liabilities |
912.660
|
958.617 |
612.755 |
|
|
Net Current Assets |
2626.497
|
2031.669 |
2004.566
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2897.364 |
2291.737 |
2172.463 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
2928.778 |
|
|
|
Other Income |
|
|
1.165 |
|
|
|
TOTAL (A) |
NA |
NA |
2929.943 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
|
|
|
|
Manufacturing Expenses |
|
|
|
|
|
|
Employee Remuneration |
|
|
2796.400 |
|
|
|
Selling and Administrative Expenses |
|
|
|
|
|
|
Increase/Decrease in Stock |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
2796.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
196.726 |
133.543 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
26.255 |
25.356 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
NA |
170.471 |
108.187 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
NA |
64.327 |
23.677 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-I) (J) |
(80.657) |
106.144 |
84.511 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
119.223 |
34.712 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
225.367 |
119.223 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
495.550 |
701.232 |
701.231 |
|
|
TOTAL EARNINGS |
495.550 |
701.232 |
701.231 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
1463.254 |
|
|
|
Capital goods |
|
|
1.215 |
|
|
TOTAL IMPORTS |
NA |
NA |
1464.469 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.69) |
3.54 |
2.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
NA |
2.88
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
3.69
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
5.25 |
3.92
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.32 |
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.52 |
3.36 |
4.18
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.88 |
3.12 |
4.27
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
(Rs. in Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
628.835
|
656.042 |
521.733 |
|
|
|
|
|
|
Total |
628.835
|
656.042 |
521.733 |
|
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 one year |
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 |
Yes |
|
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 |
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 |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Loans and advances from directors |
456.800 |
442.800 |
|
Loans repayable on demand from banks |
300.000 |
0.000 |
|
Loans repayable on demand from others |
250.000 |
150.000 |
|
Interoperate deposits |
134.600 |
154.600 |
|
|
|
|
|
Total |
1141.400 |
747.400 |
TRADE REFERENCE:
·
J P Morgan
·
Tata Consultancy Services
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U99999MH1995PTC085899 |
|
Name of the
company |
STERLING
GENERATORS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
10th Floor, Universal Majestic, P.L. Lokhande Marg, Chembur, Mumbai –
400043,
Maharashtra, India E-mail: mumbai@sterlingwilson.com
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10362698 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others
(Current assets, fixed assets etc.) |
|
Particular of
charge holder |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India E-mail: debenturetrustee@axistrustee.com |
|
Nature of
instrument creating charge |
Link Cum
Supplementary Document Dated 12.12.2012 |
|
Date of
instrument Creating the charge |
12.12.2012 |
|
Amount secured by
the charge |
Rs.2950.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction
Ltr Nos. AXISB/CO/IFB/CT/2-11-12/572 dated 19.01.12 and AXISB/CO/RMG/MP/12-13/17723 dated 7.12.12 (both
of Axis BK) and YBL/MUM/FL/010/2011-12 dated 11.04.12 (of Yes Bk) Terms of
Repayment As per Sanction
Letter Nos. AXISB/CO/IFB/CT/2-11-12/572 dated 19.01.12 and
AXISB/CO/RMG/MP/12-13/17723 dated 7.12.12 (both of Axis BK) and
YBL/MUM/FL/010/2011-12 dated 11.04.12 (of Yes Bk) or as stipulated by Banks
from time to time. Margin As per Sanction
Letter Nos. AXISB/CO/IFB/CT/2-11-12/572 dated 19.01.12 and
AXISB/CO/RMG/MP/12-13/17723 dated 7.12.12 (both of Axis BK) and
YBL/MUM/FL/010/2011-12 dated 11.04.12 (of Yes Bk) or as stipulated by Banks
from time to time. Extent and
Operation of the charge Axis Bank
realigned credit facilities granted by them (Rs.2450.000 Millions) by
permitting one time full one way inter-changeability from CC of Rs.500.000
Millions to LC facility without affecting their aggregate limit i.e
Rs.2450.000 Millions. Credit facilities granted by Yes Bank agg. to
Rs.500.000 Millions remains unchanged. The security by way of pari passu 1st
charge on entire Current and Fixed Assets of the Company, given earlier shall
continue to secure realigned limits of AB (Rs.2450.000 Millions) and of Yes
Bank (Rs.500.000 Millions) agg. to Rs.2950.000 Millions. Others Axis Trustee
Services Limited is acting as a Security Trustee to secure the Credit facilities
granted by the Axis Bank Ltd. (Rs.2450.000 Millions) and Yes Bank Limited
(Rs.500.000 Millions) |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All that piece
and parcel of Industrial N.A land bearing Survey No.343/1 admeasuring 6800
sq.mts of Village Kherdi and Survey no. 59 admeasuring 21800 sq.mts of
Village Kala, Dadra Nagar Haveli. First pari passu charge
over whole of the Company's present and future movable Fixed Assets and
Current Assets viz. stock and book debts etc. |
|
Particulars of
the present modification |
Axis Bank
realigned credit facilities granted by them (Rs.2450.000 Millions) by permitting
one time full one way inter-changeability from CC of Rs.500.000 Millions to
LC facility without affecting their aggregate limit i.e Rs.2450.000 Millions.
Credit facilities granted by Yes Bank agg. to Rs.500.000 Millions remains
unchanged. The security by way of pari passu 1st charge on entire Current and
Fixed Assets of the Company, given earlier shall continue to secure realigned
limits of AB (Rs.2450.000 Millions) and of Yes Bank (Rs.500.000 Millions)
agg. to Rs.2950.000 Millions. |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
Intangible Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No 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.54.04 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.