MIRA
INFORM REPORT
|
Report Date : |
28.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
LUMINO INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
307, Swaika Centre, 4th Floor, 4A, Pollock Street, Kolkata
– 700001, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.03.2005 |
|
|
|
|
Com. Reg. No.: |
21-102556 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.304.425 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14293WB2005PLC102556 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALL01667B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL0720E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Conductors. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
CRISIL |
|
Rating |
Cash Credit = BBB |
|
Rating Explanation |
Moderate degree of safety it carry moderate credit risk. |
|
Date |
January 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Bank Guarantee = A3+ |
|
Rating Explanation |
Moderate degree of safety it carry higher credit risk. |
|
Date |
January 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
307, Swaika Centre, 4th Floor, 4A, Pollock Street, Kolkata
– 700001, West Bengal, India |
|
Tel. No.: |
91-33-22353263 / 22357593 |
|
Fax No.: |
91-33-22152923 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
“Usha Kiran”, 12A Camac Street, 5th Floor, Kolkata – 700017,
West Bengal, India |
|
Tel. No.: |
91-33-22829201 (5 lines) |
|
Fax No.: |
91-33-22829206 |
|
E-Mail : |
|
|
|
|
|
Works : |
At/Po: Biprannapara Jalan Complex, P.S.: Domjur, Howrah – 711411, West
Bengal, India |
|
Tel. No.: |
91-33-26692420 / 652903333 |
|
Fax No.: |
91-33-26692471 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Deepak Goel |
|
Designation : |
Whole-time director |
|
Address : |
4, Alipore Park Place, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
20.02.1969 |
|
Date of Appointment : |
30.03.2005 |
|
Pan No. : |
ADGPG4399H |
|
DIN No.: |
00673430 |
|
|
|
|
Name : |
Mr. Devendra Goel |
|
Designation : |
Director |
|
Address : |
4, Alipore Park Place, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
21.10.1972 |
|
Date of Appointment : |
04.04.2005 |
|
Pan No. : |
ADGPG4397K |
|
DIN No.: |
00673447 |
|
|
|
|
Name : |
Mr. Ashish Saksena |
|
Designation : |
Director |
|
Address : |
4A, Jackson Lane, Kolkata – 700001, West Bengal, India |
|
Date of Birth/Age : |
09.02.1972 |
|
Qualification : |
|
|
Experience : |
|
|
Date of Appointment : |
01.11.2011 |
|
DIN No.: |
02491883 |
KEY EXECUTIVES
|
Name : |
Ms. Puja Mohan |
|
Designation : |
Secretary |
|
Address : |
201, NSC Bose Road, Kolkata – 700040, West Bengal, India |
|
Date of Appointment : |
01.08.2011 |
|
Pan No.: |
AYBPP0136D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Deepak Goel |
|
1349500 |
|
Shanti Devi Goel |
|
1032000 |
|
Purushottam Dass Goel |
|
389500 |
|
Rashmi Goel |
|
90000 |
|
Devendra Goel |
|
1331500 |
|
Rakhi Goel |
|
72000 |
|
Sangeeta Terkriwal |
|
600 |
|
Jalsagar Sales Agency Private Limited, India |
|
8830000 |
|
DRP Trading Investments Private Limited, India |
|
2523000 |
|
Laser Electrical Industries Private Limited, India |
|
3740000 |
|
Malina Daw |
|
100 |
|
Laser Cables Private Limited, India |
|
4290000 |
|
Sigma Vyapaar Private Limited, India |
|
1518300 |
|
Adishwar Trade Link Private Limited, India |
|
2607000 |
|
Welkon Goods Private Limited, India |
|
2500000 |
|
Embassy Vyapaar Private Limited, India |
|
10000 |
|
Regal Financial Advisory Private Limited, India |
|
99000 |
|
Sanatan Vinimay Private Limited, India |
|
60000 |
|
TOTAL |
|
30442500 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
85.99 |
|
Directors or relatives of Directors |
14.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Conductors. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Canara Bank, Prime Corporate Branch, Bells House,
21 Camac Street, Ground Floor, Kolkata – 700016, West Bengal, India ·
Bank of Baroda,
Kolkata, West Bengal, India ·
Andhra Bank, Kolkata, West Bengal,
India ·
HDFC Bank |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SDP and Associates Chartered Accountants |
|
Address : |
46C, Chowringhee Road, Everest House, Flat No. 14G, Kolkata – 700071,
West Bengal, India |
|
PAN.: |
AARFS4093A |
|
|
|
|
Associates : |
· Laser Cables Private Limited ·
Jalsagar Sales Agency Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31000000 |
Equity Shares |
Rs.10/- each |
Rs.310.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30442500 |
Equity Shares |
Rs.10/- each |
Rs.304.425
Millions |
|
|
|
|
|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in Company |
|
Jalsagar Sales Agency Private Limited |
88.3 |
29.00% |
|
DRP Trading & Investments Private Limited |
25.23 |
8.00% |
|
Laser Electrical Industries Private Limited |
37.4 |
12.00% |
|
Laser Cables Private Limited |
42.9 |
14.00% |
|
Sigma Vyapaar Private Limited |
15.18 |
5.00% |
|
Adishwar Trade Link Private Limited |
26.07 |
9.00% |
|
Welkon Goods Private Limited |
25 |
8.00% |
Rights, preferences and Restrictions attached to Equity Shares the Company has only one class of shares referred to as equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. The dividend, if any proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual general Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. F. Aggregate number and class of shares allotted as fully paid up pursuant to contract(s) without payment being received in cash. 100 equity shares had been issued against acquisition of business as a going concern along with all assets and liabilities in the year 2007-2008 without payments being received in cash. G. Aggregate number and class of shares allotted as fully paid up by way of bonus 964,000 equity shares had been issued in the year 2007-2008 as fully paid up bonus shares by capitalisation of Security Premium Account
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 |
304.425 |
303.395 |
298.441 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
622.228 |
496.235 |
173.416 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
926.653 |
799.630 |
471.857 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
244.787 |
649.716 |
237.436 |
|
|
2] Unsecured Loans |
415.758 |
18.700 |
106.523 |
|
|
TOTAL BORROWING |
660.545 |
668.416 |
343.959 |
|
|
DEFERRED TAX LIABILITIES |
0.312 |
0.473 |
0.490 |
|
|
|
|
|
|
|
|
TOTAL |
1587.510 |
1468.519 |
816.306 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
26.954 |
21.460 |
21.284 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.970 |
8.864 |
3.446 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
256.616
|
370.893 |
286.179 |
|
|
Sundry Debtors |
1518.169
|
1454.898 |
852.159 |
|
|
Cash & Bank Balances |
263.358
|
244.159 |
224.819 |
|
|
Other Current Assets |
42.181
|
40.510 |
0.000 |
|
|
Loans & Advances |
93.542
|
108.817 |
354.853 |
|
Total
Current Assets |
2173.866
|
2219.277 |
1718.010 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
548.861
|
660.558 |
663.175 |
|
|
Other Current Liabilities |
54.961
|
109.959 |
170.740 |
|
|
Provisions |
19.458
|
10.565 |
92.519 |
|
Total
Current Liabilities |
623.280
|
781.082 |
926.434 |
|
|
Net Current Assets |
1550.586
|
1438.195 |
791.576 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1587.510 |
1468.519 |
816.306 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3066.264 |
3434.939 |
2482.252 |
|
|
|
Other Income |
33.645 |
17.969 |
0.445 |
|
|
|
TOTAL (A) |
3099.909 |
3452.908 |
2482.697 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1728.798 |
1782.933 |
|
|
|
|
Purchases of stock-in-trade |
656.529 |
1221.918 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
122.305 |
(90.415) |
2318.198 |
|
|
|
Employee benefit expense |
29.513 |
28.242 |
|
|
|
|
Other expenses |
332.327 |
322.796 |
|
|
|
|
TOTAL (B) |
2869.472 |
3265.474 |
2318.198 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
230.437 |
187.434 |
164.499 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
110.259 |
61.447 |
53.316 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
120.178 |
125.987 |
111.183 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4.753 |
4.401 |
4.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
115.425 |
121.586 |
107.118 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39.901 |
41.513 |
39.286 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
75.524 |
80.073 |
67.832 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
156.841 |
95.792 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
6.783 |
|
|
BALANCE CARRIED TO
THE B/S |
NA |
NA |
156.841 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.49 |
2.68 |
3.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.44
|
2.32 |
2.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.76
|
3.54 |
4.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.24
|
5.43 |
6.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.15 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71
|
0.84 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.49
|
2.84 |
1.85 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONAL
PERFORMANCE
The company achieved a turnover of Rs.3066.264 Millions as against Rs.3434.939 Millions achieved in the previous year. The company earned a net profit of Rs.75.523 Millions as against Rs.80.073 Millions in the previous year. The Company saw robust growth of approx 40% in gross turnover of Power Conductors by registering gross sales of approx. Rs.2897.700 Millions as against Rs.2070.800 Millions in the previous year. A report on the Management Discussion and Analysis for the financial year is annexed and forms part of the report. Export During the year, the Company's has export orders worth USD 279816 and ETB 90323 from Ethiopian market. The Company is making serious efforts for entering overseas markets apart from Ethiopia.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Term loans from others |
59.500 |
18.700 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
356.258 |
0.000 |
|
Total |
415.758 |
18.700 |
CONTINGENT
LIABILITIES NOT PROVIDED FOR IN RESPECT OF
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
Guarantees given by the Company's Bankers in the normal course of business |
404.401 |
316.524 |
|
Guarantees given by the Company's Bankers for Infrastructure Turnkey Project |
1067.167 |
1005.387 |
|
Claims by suppliers and other third parties. The Company has made counter claims/has a right to recover monies in the event of claims crystallizing amounting |
8.716 |
6.637 |
|
Claim against the Company not acknowledge as debt-Representation have been filed before the respective authorities |
58.692 |
3.164 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U14293WB2005PLC102556 |
|
Name of the
company |
LUMINO INDUSTRIES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
307, Swaika Centre, 4th Floor, 4A, Pollock Street, Kolkata
– 700001, West Bengal, India Email : devendra@lasercables.com
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
90255438 |
|
Type of charge |
Book debts Movable property
(not being pledge) Plant and
Machineries, Fixed Assets |
|
Particular of
charge holder |
Canara Bank, Prime Corporate Branch, Bells House, 21 Camac Street,
Ground Floor, Kolkata – 700016, West Bengal, India Email : tapankumarghosh@canbank.co.in
|
|
Nature of
instrument creating charge |
1. Supplemental
Joint Deed Of Hypothecation 2. Supplemental
Working Capital Consortium Agreement 3. Board
Resolution dated 07.01.2011 |
|
Date of
instrument Creating the charge |
10.01.2011 |
|
Amount secured by
the charge |
Rs.3530.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Second Schedule
to Supplemental Working capital Consortium Agreement Terms of repayment All loans are
repayable on demand Margin As stipulated by
the Consortium Banks Extent and operation of the charge Primary Securities:
The entire Current Assets including Stock and Book Debts, present and future
of the Company based on pari-passu basis in favour of Canara Bank, the Lead
Bank and Bank of Baroda and Andhra Bank, other Member Banks of the Consortium
and Collateral Securities: The entire Plant and Machineries and Fixed
Assets on pari-passu basis in favour
of Canara Bank, the Lead Bank and Bank of Baroda and Andhra Bank, other
Member Banks of the Consortium to the extent Overall limit of Rs.3530.000
Millions Others By this
Consortium sanction Lead Bank Canara Bank enhanced limit from Rs.1531.300
Millions to Rs. 1765.000 Millions. Bank of Baroda enhanced limit from
Rs.105.26 Millions to Rs.1235.500 Millions and Andhra Bank enhanced limit
from Rs.367.500 Millions to Rs.529.500 Millions. Total Consortium limit
enhanced from Rs.2951.400 to Rs.3530.000 Millions. Other terms and conditions
as remain unchanged |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The whole of the
Current Assets of the Borrower namely stocks of raw materials, stocks in
process, semi-finished goods, stores and spares not relating to Plant and
machinery, Bills Receivable and Book Debts and all other assets and movables both
present and future whether lying loose or in cases or which are now lying or
stored in or about the or shall hereinafter from time to time during the
continuance of his security
of these presents be brought into or upon or be stored or be in about the
Borrower's factories, premises and godowns situated at Jalan Industrial
Estate, Domjur, Howrah in the State of West Bengal or wherever else the same may be on pari-passu basis in favour
of Canara Bank (lead bank) and Bank of Baroda and Andhra Bank, members of the
Consortium Entire Plant and
Machineries and Fixed Assets located
at Borrower's factories, premises and
godowns situated at Jalan Industrial Estate, Domjur ,Howrah in the State of
West Bengal or wherever else
the same may be on pari-passu basis in favour of Canara Bank (lead bank) and
Bank of Baroda and Andhra Bank, members of the Consortium The Charge shall now vest with Canara
Bank, Prime Corporate Branch, Kolkata on transfer of limits from Canara Bank,
SME Branch |
|
Date of
instrument modifying the charge |
01.06.2010 |
|
Particulars of
the present modification |
By this
modification Overall Consortium limit
enhanced from Rs.2951.400 Millions to Rs.3530.000 Millions as
follows:- Rs. In Millions CB BOB AB Total OCC/ODBD 267.500
187.500 80.300 535.300 BULC 197.500 138.000 59.200
394.700 BG 1075.000 752.500
322.500 2150.000 ILC/FLC 225.000 157.500 67.500
450.000 TOTAL 1765.000 1235.500
529.500 3530.000 |
FIXED ASSETS
·
Goodwill
·
Computer and Printer
·
Factory Shed
·
Furniture and Fixtures
·
Motor Car
·
Plant and Machinery
·
Office Equipments
·
Vehicles
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.53.84 |
|
|
1 |
Rs.81.24 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
TOTAL |
|
48 |
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.