MIRA
INFORM REPORT
|
Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
KARAMTARA STEEL PRIVATE LIMITED (w.e.f. 13.06.2008) |
|
|
|
|
Formerly Known
As : |
KARAMTARA TRANSMISSION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
117 Mourya Estate, Oshiwara Link Road, Andheri (West), Mumbai-400053,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-153385 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.125.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200MH2005PTC153385 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK18284A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK5915D |
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|
|
|
Legal Form : |
Private Limited Liability Company
|
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Angels and Plates. |
|
|
|
|
No. of Employees
: |
350 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1460000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record.
Latest financial i.e. 2011-12 are missing from the government department. Mr.
Rakesh Ghalme, Finance Manager has provided all information to us, however
financials are not verified. However, from the financial 2011 it seems that
the company is progressing steadily. 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.
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 |
SHORT TERM NON-FUND BASED WORKING CAPITAL FACILITY : ICRA A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
31.01.2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
TERM LOAN : ICRA BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
31.01.2012 |
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. Rakesh Ghalme |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-40710000 |
|
Date : |
28.01.2013 |
LOCATIONS
|
Registered Office : |
117 Mourya Estate, Oshiwara Link Road, Andheri (West), Mumbai-400053,
Maharashtra, India |
|
Tel. No.: |
91-22-40710000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
705, Morya Landmark II Near Infinite Mall New Link Road, Andheri
(West), Mumbai-400053, Maharashtra, India |
|
Tel. No.: |
91-22-26731000 |
|
Fax No.: |
91-22-26731015 |
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No. 48, 53, 58 Plot No. OS-55 MIDC, Village Saravali, Tarapur,
Palghar, Thane-401506, Maharashtra,
India |
|
Tel No.: |
91-2525-645409 / 645407 |
|
Fax No.: |
91-2525-261480 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rajiv Singh |
|
Designation : |
Director |
|
Address : |
401, 4th Floor, Goswami Towers, Jai Hind Society, 11th
NS Road, Juhu, Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1973 |
|
Date of Appointment : |
18.05.2005 |
|
DIN No.: |
01689209 |
|
|
|
|
Name : |
Mr. Tanveer Singh |
|
Designation : |
Director |
|
Address : |
401, 4th Floor, Goswami Towers, Jai Hind Society, 11th
NS Road, Juhu, Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
21.01.1970 |
|
Date of Appointment : |
18.05.2005 |
|
DIN No.: |
01689287 |
|
|
|
|
Name : |
Mr. Hanwant Manbir Singh |
|
Designation : |
Director |
|
Address : |
401, 4th Floor, Goswami Towers, Jai Hind Society, 11th
NS Road, Juhu, Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1938 |
|
Date of Appointment : |
18.05.2005 |
|
DIN No.: |
00583469 |
|
|
|
|
Name : |
Mr. Inderjeet Singh |
|
Designation : |
Director |
|
Address : |
401, 4th Floor, Goswami Towers, Jai Hind Society, 11th
NS Road, Juhu, Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1947 |
|
Date of Appointment : |
18.05.2005 |
|
DIN No.: |
01689417 |
|
|
|
|
Name : |
Mr. Shreyans Jitendra Shah |
|
Designation : |
Director |
|
Address : |
B-122, Madhubav Apartments, Worli Hill Road, Worli, Mumbai-400018,
Maharashtra, India |
|
Date of Birth/Age : |
01.05.1974 |
|
Date of Appointment : |
15.10.2008 |
|
DIN No.: |
01649714 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Karamtara Engineering Private Limited, India |
|
12499999 |
|
Rajiv Singh |
|
1 |
|
Total |
|
12500000 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Angels and Plates. |
|
|
|
|
Exports : |
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|
Products : |
Finished Goods |
|
Countries : |
Gulf Countries |
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Imports : |
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|
Products : |
Raw Materials |
|
Countries : |
Switzerland |
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Terms : |
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Selling : |
L/C |
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|
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Purchasing : |
L/C |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Angles and Plates |
MT |
100000 |
54644 |
GENERAL INFORMATION
|
Suppliers : |
·
Tata Steel Limited |
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Customers : |
Others (Corporate Industries) ·
Kalpataru Limited |
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No. of Employees : |
350 (Approximately) (In Office + In Factory) |
|||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
·
Andhra Bank, (Lead Bank), 18 Homi Modi Street, Nanavathi
Mahalaya, Fort, Mumbai-400001, Maharashtra, India Contact
No.: 91-22-22026088 ·
Punjab National Bank, Liking Road, Bandra (West),
Mumbai – 400050, Maharashtra, India Contact
No.: 91-22-26429736 ·
Punjab and Sind Bank, Juhu Branch, Amrapali
Shopping Centre, JVPD Scheme, Vileparle (West), Mumbai – 400049, Maharashtra,
India Contact
No.: 91-22-26149721 (Note:
Senior Manager has reported that the subject maintains proper and good
banking relation. ·
Axis Bank ·
Kotak Mahindra Bank |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Chokshi and Chokshi Chartered Accountant |
|
Address : |
15/17, Raghavji B Building, Ground Floor, Raghavji Road, Kemps Corner,
Mumbai 400036, Maharashtra, India |
|
Pan No.: |
AAAFC2633B |
|
|
|
|
Holding Company : |
Karamtara Engineering Private Limited |
|
|
|
|
Associates/Subsidiaries : |
·
Sunder Rolling Mills Private Limited ·
Poona Galvanizers Private Limited ·
Karamtara Agro-tech Private Limited ·
Karamtara Financial Services Private Limited ·
Karamtara Reality Private Limited ·
Zeon Teleservices Private Limited |
|
|
|
|
Fellow Subsidiary : |
Karamtara Fasteners Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12500000 |
Equity Shares |
Rs.10/- each |
Rs.125.000 Millions
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
125.000 |
125.000 |
125.000 |
|
|
2] Share Application Money |
75.000 |
75.000 |
0.000 |
|
|
3] Reserves & Surplus |
167.459 |
84.283 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(6.259) |
|
|
NETWORTH |
367.459 |
284.283 |
118.741 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
383.611 |
337.031 |
150.580 |
|
|
2] Unsecured Loans |
199.962 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
583.573 |
337.031 |
150.580 |
|
|
DEFERRED TAX LIABILITIES |
38.947 |
13.620 |
8.234 |
|
|
|
|
|
|
|
|
TOTAL |
989.979 |
634.934 |
277.555 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
477.818 |
323.910 |
262.419 |
|
|
Capital work-in-progress |
1.046 |
1.300 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
191.974 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
295.640
|
221.858 |
47.435 |
|
|
Sundry Debtors |
551.782
|
354.460 |
0.391 |
|
|
Cash & Bank Balances |
91.256
|
47.388 |
11.719 |
|
|
Other Current Assets |
0.000
|
0.000 |
3.565 |
|
|
Loans & Advances |
87.206
|
108.133 |
26.316 |
|
Total
Current Assets |
1025.884
|
731.839 |
89.426 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
652.725
|
385.573 |
73.532 |
|
|
Other Current Liabilities |
25.161
|
3.879 |
0.065 |
|
|
Provisions |
29.859
|
34.134 |
2.450 |
|
Total
Current Liabilities |
707.745
|
423.586 |
76.047 |
|
|
Net Current Assets |
318.139
|
308.253 |
13.379 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.002 |
1.471 |
1.757 |
|
|
|
|
|
|
|
|
TOTAL |
989.979 |
634.934 |
277.555 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2313.900 |
1567.000 |
11.553 |
|
|
|
Other Income |
6.537 |
13.085 |
0.045 |
|
|
|
TOTAL |
2320.437 |
1580.085 |
11.598 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
|
35.948 |
|
|
|
Employees Remuneration |
|
|
0.861 |
|
|
|
Direct Expenses |
2082.567 |
1337.135 |
0.623 |
|
|
|
Administrative Expenses |
|
|
0.992 |
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
(31.748) |
|
|
|
TOTAL |
2082.567 |
1337.135 |
6.676 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
237.870 |
242.950 |
4.922 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
102.141 |
76.850 |
0.897 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
135.729 |
166.100 |
4.025 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.859 |
35.172 |
1.470 |
|
|
|
|
|
|
|
|
|
Add |
EXCESS DUE TO
CHANGE IN DEPRECIATION METHOD |
22.134 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
141.004 |
130.928 |
2.555 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
57.828 |
40.386 |
8.768 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
83.176 |
90.542 |
(6.213) |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
8.317 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
74.859 |
90.542 |
(6.213) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
399.090 |
47.913 |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.65 |
7.24 |
(0.49) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
2760.000 |
The above information has been parted by Mr. Rakesh Ghalme.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.58
|
5.73 |
(53.56) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.09
|
8.35 |
22.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.37
|
12.40 |
0.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
0.46 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.51
|
2.67 |
1.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.73 |
1.17 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry
Creditors |
|
|
|
|
Due small micro enterprises |
0.000 |
0.000 |
|
|
Due others |
652.725
|
385.573 |
|
|
Total |
652.725
|
385.573 |
73.532 |
|
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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
PERFORMANCE:
The Company has
achieved a gross sale of 2584.400 Millions for the year ended March 31, 2011.
The Company posted net sales of Rs. 2313.900 Millions and profit before tax of 141.000
Millions for the financial year 2010-11 as against net sales of Rs. 1567.700
Millions and profit before tax of 130.900 Millions in 2009-10. Earnings before
interest, depreciation, tax and amortization (EBITDA) was 237.800 Millions for
the financial year 2010-11 as against 243.000 Millions in 2009-10.
During the year,
the Company acquired Sunder Rolling Mills Private Limited The acquisition of
Sunder Rolling Mills Private Limited would help the Company gain a major
presence across Indian market as Nagpur is centrally located in India and
Nagpur is a hub of Power Transmission Industry. Sunder Rolling Mills Private
Limited has presence in the market with manufacturing capacity of approximately
42,750 MT p.a. The acquisition will not only enhance market presence and
strengthen group’s performance but also it will mitigate risk of concentration
in one geographic location.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10134745 |
|
Corporate
identity number of the company |
U31200MH2005PTC153385 |
|
Name of the
company |
KARAMTARA STEEL
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
117 Mourya Estate, Oshiwara Link Road, Andheri (West), Mumbai-400053,
Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property Others |
|
Particular of
charge holder |
Andhra Bank, (Lead Bank), 18 Homi Modi Street, Nanavathi Mahalaya,
Fort, Mumbai-400001, Maharashtra, India Email: bmmum051@andhrabank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
1. Third
supplemental joint deed of hypothecation 2. Third
supplemental inter se agreement between Andhra Bank, Punjab National Bank,
Axis Bank, Punjab and Sind Bank (Andhra Bank Consortium) (all the above
agreement constitute a single charge) |
|
Date of
instrument Creating the charge |
24.05.2012 |
|
Amount secured by
the charge |
Rs.1514.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by bank
from time to time by Andhra Bank i.e. Lead Bank (AB), Punjab National Bank
(PNB), Axis Bank (Axis) and Punjab and Sind Bank (PSB) Terms of
Repayment As Stipulated By
Bank From Time To Time Margin As Stipulated By
Bank From Time To Time Extent and
Operation of the charge Working Capital-
Rs. 1320.000 Millions (AB=300.000 Millions, PNB=300.000 Millions,
Axis=370.000 Millions, PSB=350.000 Millions) Term Loan - Rs. 194.000 Millions (AB=144.000 Millions and
PNB=50.000 Millions) Total limit - Rs. 1514.000 Millions
(AB=444.000 Millions, PNB=350.000 Millions, Axis=370.000 Millions,
PSB=350.000 Millions) For w.cap limits:
pari passu 1st charge on c. A. and pari passu 2nd charge on the fixed assets. For term loan:
pari passu 1st chg on movable and immovable F.A. and pari passu 2nd chg on
c.a. Of the co. And/or as
stipulated by the banks from time to time Others As stipulated by
the banks from time to time as per agreement and as per sanction letter of
bank |
|
Short particulars
of the property charged |
First pari passu
charge for W.C.(present and future) on following assets:- (1) hypothecation
of all current and movable assets including stock/goods/inventories/products
and book debts and receivables etc Second pari passu
charge for W.C. (present and future) on following assets:- (1) Hypothecation
Of fixed assets of the co. Comprising of plant and machineries and other
assets of company inc assets purchased out of T.L. 2) RMG of all
that piece and parcel of non AGR. Land property adm. About1-30.2hector BER.
Survey no 54,hissa no1a,survey no55,hissa no1 and survey no 58,hissa no 1 (3)
RMG of all that piece and parcel of land adm 068.5 hector BER.
Survey no 53, lying, being and situate at Village Saravali, Taluka Panchayat Samiti
Palghar (4) EMG of all that piece and parcel non AGR. Land property adm
1-18.1.5hector BER. Survey No 54 Hissa no 1B, Survey No 55,
Hissa no 2, Survey No 56 lying being and situate(5) EMG of all that piece and
parcel of non agri. Land property adm 0-38.4hector BER Survey No57, Hissa No
5, Situated at Village Saravali First pari passu
charge for T.L. (present and future) on following assets :- (1) Hypothecation
Of fixed assets of the co. Comprising of plant and machineries and other
assets of company inc assets purchased out of T.L. 2) RMG of all
that piece and parcel of non AGR. Land property adm. About1-30.2hector BER.
Survey no 54,hissa no1a,survey no55,hissa no1 and survey no 58,hissa no 1 (3)
EMG of all that piece and parcel of land adm 068.5 hector BER.
Survey no 53, lying, being and situate at Village Saravali, Taluka Panchayat
Samiti Palghar (4) EMG of all that piece and parcel non AGR. Land property
adm 1-18.1.5hector BER. Survey No 54 Hissa no 1b,survey no
55,hissa no 2,survey no 56 lying being and situate (5) EMG of all that piece
and parcel of non agri. Land property adm 0-38.4hector BER survey no57,hissa
no 5,situated at Village Saravali Second pari passu
charge for T.L. given by AB and PNB bank (present and future) on following
assets:- (1) Hypothecation Of all current and movable assets inc. stock/
goods/ inventories/ products and book debts and receivables etc |
|
Particulars of
the present modification |
By this
modification, total limit remains same i.e. Rs.1514.000 Millions (Andhra
Bank=444.000 Millions, Punjab National Bank=350.000 Millions, Axis
Bank=370.000 Millions, Punjab and Sind Bank=350.000 Millions). Securities to
continue as mentioned in the original charge as well as by the terms of this
modification. The charge for third supp. Joint hypothecation deed and
security will be operational |
TRADE REFERENCES
· Tata Steel Limited
· Kalpataru Limited
FIXED ASSETS:
·
Factory Land and Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Motor Car
·
Electrical Equipments
·
Cranes
·
Rolls
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.26 |
|
Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
45 |
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.