MIRA
INFORM REPORT
|
Report Date : |
16.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHAH PULP AND PAPER MILLS LIMITED |
|
|
|
|
Registered
Office : |
Angeline Apartment, B/202, 2nd Floor, Sarojini Road, Vile
Parle (West), Mumbai – 400056, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.11.1993 |
|
|
|
|
Com. Reg. No.: |
11-074945 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.110.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21010MH1993PLC074945 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS18657C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter, Importer, Buyer and Seller of Texturised Crimped, Nylon
Filament Yarn, Polyester Filament Yarn and Other Synthetic Yarns. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1340000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track
record. General financial position is satisfactory. Trade relations are
reported as decent. 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.
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 |
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 DECLINED BY
Management non co-operative [91-260-2432388/2400031/ 91-22-26161932]
LOCATIONS
|
Registered Office : |
Angeline Apartment B/202 2nd Floor Sarojini Road, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
|
Tel. No.: |
91-22-26161932/26121878 |
|
Fax No.: |
91-22-26173673 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Mahendra Hirji Shah |
|
Designation : |
Managing director |
|
Address : |
202, Ashvamedh
Sarojini Road, Vile Parle (West), Mumbai-400056, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1959 |
|
Date of Appointment : |
05.11.1993 |
|
Din No.: |
00190008 |
|
Election Commission Identity Card No.: |
GJ/26/182/096311 |
|
|
|
|
Name : |
Mr. Deepen Keshavji Gosrani |
|
Designation : |
Director |
|
Address : |
A/101, Nirmal
Soc., Nea Vapi Valsad, Haria Hospital Vapi - 396 195, Gujarat, India |
|
Date of Birth/Age : |
08.01.1968 |
|
Date of Appointment : |
16.01.1995 |
|
Din No.: |
00150843 |
|
Election Commission Identity Card No.: |
MP/10/053498444 |
|
|
|
|
Name : |
Mr. Amritlal Khimji Shah |
|
Designation : |
Director |
|
Address : |
207 Residential Area Valsad, G.I.D.C., Vapi - 396 195, Gujarat,
India |
|
Date of Birth/Age : |
22.11.1944 |
|
Date of Appointment : |
05.11.1993 |
|
Din No.: |
00140411 |
|
Election Commission Identity Card No.: |
GJ/26/182/030286 |
|
|
|
|
Name : |
Mr. Mahesh Khetshi Maru |
|
Designation : |
Whole-time director |
|
Address : |
A/204, Suyog
Mandir, Co-operative Housing Society, Ram Mandir Road, Bhabai, Borivali
(West), Mumbai - 400 092, Maharashtra, India |
|
Date of Birth/Age : |
24.06.1966 |
|
Date of Appointment : |
12.06.1999 |
|
Din No.: |
00145681 |
|
|
|
|
Name : |
Mr. Girish Sarvotham Shetty |
|
Designation : |
Director |
|
Address : |
306, Rajlaxmi
Co-operative Housing Society, Near Gunjan Cinema, G.I.D.C., Vapi Valsad - 396
195, Gujarat, India |
|
Date of Birth/Age : |
28.12.1973 |
|
Date of Appointment : |
07.10.2002 |
|
Din No.: |
00144740 |
|
|
|
|
Name : |
Mr. Ashok Zaverchand Shah |
|
Designation : |
Director |
|
Address : |
S-2, Paras
Apartment, Resi Area, G.I.D.C , Vapi,
Valsad - 396 195, Gujarat, India |
|
Date of Birth/Age : |
25.09.1963 |
|
Date of Appointment : |
17.09.2004 |
|
Din No.: |
00146132 |
|
|
|
|
Name : |
Mr. Manoj Oza |
|
Designation : |
Director |
|
Address : |
102, Niraml
Co-operative Housing Society, Chharwada Road, G.I.D.C. Valsad - 396001, Gujarat, India |
|
Date of Birth/Age : |
28.20.1945 |
|
Date of Appointment : |
29.09.2006 |
|
Din No.: |
00289871 |
|
|
|
|
Name : |
Mr. Vijay Ranchan |
|
Designation : |
Director |
|
Address : |
Plot 131, Sector 8-C, Gandhinagar – 382008, Gujarat, India |
|
Date of Birth/Age : |
01.10.1942 |
|
Date of Appointment : |
26.04.2006 |
|
Din No.: |
01602023 |
|
|
|
|
Name : |
Mr. Hirji Tejshi Shah |
|
Designation : |
Director |
|
Address : |
610/H-II, Chanod, G.I.D.C., Vapi Valsad - 396 195, Gujarat, India |
|
Date of Birth/Age : |
23.08.1938 |
|
Date of Appointment : |
30.09.2006 |
|
Din No.: |
00140063 |
|
|
|
|
Name : |
Mr. Bhanupratap Pruthviraj Singh |
|
Designation : |
Whole-time director |
|
Address : |
48, Bharauch, Pritam Society, Bharuch – 392001, Gujarat, India |
|
Date of Birth/Age : |
04.08.1956 |
|
Date of Appointment : |
23.08.2008 |
|
Din No.: |
02254985 |
|
|
|
|
Name : |
Mr. Hemant Gamanlal Modi |
|
Designation : |
Whole Time Director |
|
Address : |
B/103, Amardham Apartments, Near Dreamland Theatre, Tithal Road,
Valsad-396001, Gujarat, India |
|
Date of Birth/Age : |
15.09.1963 |
|
Date of Appointment : |
01.04.2005 |
|
Din No.: |
00145130 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Equity
Shares |
|
Amritlal K Shah (HUF) |
334450 |
|
Amritlal Khimji Shah Hansaben A. Shah |
233550 |
|
Ashok Zaverchand Shah Mita Ashok Shah |
676275 |
|
Divyesh Amritlal Shah Amritlal Khimji Shah |
2000 |
|
Hansaben Amritlal Shah Amritlal Khimji Shah |
345700 |
|
Hirji Tejshi Shah Mahendra Hirji Shah |
292750 |
|
Jigna Ketan Shah Ketan Keshavji Shah |
50000 |
|
Keshavji Bharmal Shah Pushpaben Keshavji Shah |
64000 |
|
Keshavji Bharmal Shah (HUF) |
10000 |
|
Ketan Keshavji Shah Jigna Ketan Shah |
402400 |
|
Ketan Keshavji Shah (HUF) |
34000 |
|
Mahendra Hirji Shah Nisha Mahendra Shah |
2754375 |
|
Pravinaben Shantilal Shah Shantilal Khimji Shah |
74000 |
|
Pravinchandra Hirji Shah Nayna Pravinchandra Shah |
1000000 |
|
Pushpaben Keshavji Shah Keshavji Bharmal Shah |
9000 |
|
Ramesh Keshavji Shah Harsida Ramesh Shah |
342500 |
|
Ramesh Keshavji Shah (HUF) |
25000 |
|
Rohit Plastopack Private Limited, India |
1096000 |
|
Shah Financial Services Limited, India |
1022500 |
|
Shahtilal Karamshi Shah Kalpana Shantilal Shah |
1000000 |
|
Shantilal Khimji Shah Pravinaben Shantilal Shah |
180000 |
|
Shobhagchand Khimji Shah Vanitaben Shobhagchand Shah |
1500 |
|
Pritesh Mahendra Shah Mahendra Hirji Shah |
50000 |
|
Total |
10000000 |
|
Names of Shareholders |
No. of
Preference Shares |
|
Amritlal Khimji Shah Hansaben A. Shah |
2600 |
|
Ashok Zaverchand Shah Mita Ashok Shah |
1950 |
|
Shah Paper Mills Limited, India |
25000 |
|
Bharti Hitesh Shah Hitesh Ratilal Shah |
1500 |
|
Chandramani Ratilal Shah Hitesh Ratilal Shah |
1500 |
|
Shah Financial Services Limited, India |
12000 |
|
Mahendra Hirji Shah Nisha Mahendra Shah |
8450 |
|
Pravinchandra Hirji Shah Nayna Pravinchandra Shah |
10000 |
|
Shantilal Karamshi Shah Kalpana Shantilal Shah |
10000 |
|
Vipul Mulchand Shah Priti Vipul Shah |
3000 |
|
Dungershi Gala Arun Gala |
6000 |
|
Index Tie-Up Private Limited, India |
18000 |
|
Total |
100000 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
20.00 |
|
Bodies
corporate |
|
21.00 |
|
Directors
or relatives of directors |
|
50.00 |
|
Other
top fifty shareholders |
|
9.00 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter, Importer, Buyer and Seller of Texturised Crimped, Nylon Filament
Yarn, Polyester Filament Yarn and Other Synthetic Yarns. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
State Bank of India, Vapi Industrial Township Branch, Vapi,
Valsad-396195, Gujarat, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
SICOM Limited, Nariman Point, Mumbai, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
R. R. Muni and Company Chartered Accountants |
|
Address : |
2543, Gokul Building No. 55, Gandhi Nagar, Bandra (East), Mumbai –
400051, Maharashtra, India |
|
PAN No: |
AAAFR2711F |
|
|
|
|
Associates/Subsidiaries : |
Shah Paper Mills Limited [U21010MH1990PLC057464] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
100000 |
Preferences Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
TOTAL
|
|
Rs.110.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
100000 |
Preferences Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
TOTAL
|
|
Rs.110.000
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 |
110.000 |
110.000 |
110.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
226.625 |
212.408 |
199.774 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
336.625 |
322.408 |
309.774 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
161.946 |
156.965 |
195.342 |
|
|
2] Unsecured Loans |
88.850 |
42.050 |
41.350 |
|
|
TOTAL BORROWING |
250.796 |
199.015 |
236.692 |
|
|
DEFERRED TAX LIABILITIES |
51.451 |
52.360 |
53.049 |
|
|
|
|
|
|
|
|
TOTAL |
638.872 |
573.783 |
599.515 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
334.689 |
339.006 |
338.454 |
|
|
Capital work-in-progress |
7.055 |
0.020 |
0.657 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.404 |
0.482 |
0.514 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
238.711
|
232.022 |
193.643
|
|
|
Sundry Debtors |
119.710
|
139.222 |
163.707
|
|
|
Cash & Bank Balances |
41.397
|
56.044 |
36.271
|
|
|
Other Current Assets |
3.615
|
3.681 |
0.976
|
|
|
Loans & Advances |
135.260
|
172.872 |
131.639
|
|
Total
Current Assets |
538.693
|
603.841 |
526.236 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
224.880
|
304.273 |
207.015 |
|
|
Other Current Liabilities |
15.291
|
63.684 |
17.660
|
|
|
Provisions |
1.798
|
1.609 |
45.417
|
|
Total
Current Liabilities |
241.969
|
369.566 |
270.092
|
|
|
Net Current Assets |
296.724
|
234.275 |
256.144
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
3.746 |
|
|
|
|
|
|
|
|
TOTAL |
638.872 |
573.783 |
599.515 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Sale of Products |
983.929 |
908.399 |
|
|
|
|
Other Operating Revenues |
0.730 |
0.674 |
824.074 |
|
|
|
Other Income |
5.206 |
9.163 |
8.233 |
|
|
|
TOTAL (A) |
989.865 |
918.236 |
832.307 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
568.707 |
600.895 |
|
|
|
|
Purchases of stock-in-trade |
70.423 |
4.354 |
|
|
|
|
Employee benefit expense |
22.520 |
21.470 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
0.182 |
0.281 |
753.013 |
|
|
|
Other expenses |
230.487 |
207.402 |
|
|
|
|
Exceptional items |
(2.441) |
(2.441) |
|
|
|
|
TOTAL (B) |
889.878 |
831.961 |
753.013 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
99.987 |
86.275 |
79.294 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
48.678 |
39.917 |
39.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
51.309 |
46.358 |
39.860 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.023 |
22.871 |
21.811 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
27.286 |
23.487 |
18.049 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.092 |
8.412 |
6.805 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
18.194 |
15.075 |
11.244 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.82 |
1.51 |
1.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.84
|
1.64 |
1.35
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.77
|
2.59 |
2.19
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.12
|
2.49 |
2.09
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.07 |
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.46
|
1.76 |
1.63
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.23
|
1.63 |
1.95
|
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 |
224.880
|
304.273 |
207.015 |
|
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] |
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 |
No |
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Intercorperate borrowings |
33.500 |
17.500 |
|
Loans and advances from directors |
3.300 |
0.000 |
|
Other loans and advances |
52.050 |
24.550 |
|
TOTAL
|
88.850 |
42.050 |
PROGRESS REVIEW:
The Company once
again made a successful year of operation achieving a marginal growth in profit
from the previous year. The demand for the Newprint manufactured by the Company
was fully met by producing 29773.573 MT during the year. In addition 4101.163
MT of Newsprint was also produced on Job work basis to utilize production
capacity to its optimum. It has earned Rs. 47.612 Millions from Job work
charges and has contributed to the net profits. The profits have been used for
acquiring Effluent Treatment and other Equipment as well as to create a
Warehousing facility. The Additional Equipment is expected to recover the fine
fibres otherwise drained, treat the waste water for recycling and assist in
complying with norms for pollution control. The Company proposes to expand the
production capacity by approximately 30 MT per day with a view to achieve lower
cost of production. Cost of Capital Expenditure for the required modification
in the plant is expected at Rs. 166.400 Millions. The bankers of the Company
have been requested to provide a term loan facility. The appeal filed by the
Company before the Hon’able Bombay High Court against the order of the Company
Law Board in the petition filed by the minority shareholders is in the process
of final hearings.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90352520 |
|
Corporate
identity number of the company |
U21010MH1993PLC074945 |
|
Name of the
company |
SHAH PULP AND
PAPER MILLS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Angeline Apartment B/202 2nd Floor Sarojini Road, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property Others |
|
Particular of charge
holder |
State Bank of India, Vapi Industrial Township Branch, Vapi,
Valsad-396195, Gujarat, India Email: sbi.01658@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Stamped Form C.1A
dated 27.09.2012 for increase in overall limit from 395.100 Millions to
520.100 Millions. Stamped form C.5
for grant of individual limits within the overall limit |
|
Date of
instrument Creating the charge |
27.09.2012 |
|
Amount secured by
the charge |
Rs.520.100
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit -
Base Rate + 3.00% Term Loan I and
II - Base Rate +3.50% Term Loan III -
base Rate +3.25% Terms of Repayment Working Capital -
One year from date of sanction Margin Raw Material -
Domestic and Imported - 25% Stocks in Process
- 40% Stores and Spares
- 50% Finished Goods -
30% Book Debts - 40% Land and
Buildings/Plant and machinery - 33.85% Others - LC and
BG - 10% Extent and Operation of the charge CC, SLC, LC, BG,
CEL - Hypothecation of all the chargeable current assets TL I, II and III
- 1) Exclusive First charge over entire fixed assets of the
Company, 2) Charge over fixed
assets to be financed by way of TL III Others Guarantee by
Directors Mr. A. K Shah, Mr. Mahendra Shah, Mr. Ashok Z Shah, Mr. Shailendra
S Shah, Mr. Deepen Gosrani |
|
Short particulars
of the property charged |
Extension of
charge by way of Equitable Mortgage of all Existing and future leasehold and
free hold lands and all buildings thereon at Plot No. 97 and adjoining plot,
GIDC, Silvassa Road, Vapi – 396195 Extension of
charge over all chargeable current assets All that piece
and parcels of plot no. 97 admeasuring 28279.00 sq. mts along with factory
building constructed thereon admeasuring 12400 sq. ft on said plot no. 97
situated within GIDC Area, Vapi, |
|
Date of latest modification
prior to the present modification |
30.06.2011 |
|
Particulars of
the present modification |
Stamped Form C.1A
dated 27.09.2012 for increase in overall limit from 395.100 Millions to
520.100 Millions. Stamped form C.5
for grant of individual limits within the overall limit. |
FIXED ASSETS
- Factory building
- Building
- Bore well
- Compound wall
- Electrical installation
- Panel boards, switch gears and transformers
- Plant and machinery
- Crane
- Firefighting equipment
- Laboratory equipment
- Weighing scale
- Boiler and coal handling unit
- ETP Plant
- Furniture and fixtures
- Air conditioner
- Office appliances
- ATP Pulper
- Pressure screen
- High density tower
- Capitive power plant
- Turbine – 2
- Packing machine
- Gas based D.G
- Hot Dispersion
- Leasehold land
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.54.54 |
|
|
1 |
Rs.87.69 |
|
Euro |
1 |
Rs.72.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.