MIRA
INFORM REPORT
|
Report Date : |
04.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
BEST PAPER MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Ram Niwas Pranjpe ‘B’ Scheme, Road No.3, Vile Parle (East),
Mumbai-400057, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-093122 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 97.572 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21000MH1995PTC093122 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB06421C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Papers |
|
|
|
|
No. of
Employees: |
240 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The company has achieved a better growth in its turnover but has seen
a dip in the net profitability during 2012. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
12.07.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
12.07.2012 |
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. Rajeeva Kalinga Shetty |
|
Designation : |
Director |
|
Contact No. : |
91-260-2427265 |
|
Date: |
03.07.2013 |
LOCATIONS
|
Registered Office : |
2, Ram Niwas Pranjpe ‘B’ Scheme, Road No.3, Vile Parle (East),
Mumbai-400057, |
|
Tel. No.: |
91-22-26135358 / 40973000 |
|
Mobile No.: |
91-22-26135359 / 40973030 |
|
E-Mail : |
|
|
Area : |
550 sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 57, FGH/A Ghala,
Phase- 1, GIDC Vapi-396195, |
|
Tel. No.: |
91-260-2432991 / 2426998 / 2427265 |
|
Fax No.: |
91-260-2428155 / 2427266 |
|
|
|
|
Factory 2 : |
Plot No. 57/FGH/B-2, G.I.D.C, 1st Phase, Vapi-396195, |
|
Area : |
Total of both Factory 17000 Sq. Meters |
|
Location : |
Leased |
DIRECTORS
AS ON 21.07.2012
|
Name : |
Mr. Ramesh Kesavji Shah |
|
Designation : |
Managing Director |
|
Address : |
502, Manav Mandir, Sarvodya Nagar, |
|
Date of Birth/Age : |
29.01.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.07.2007 |
|
DIN No: |
00842933 |
|
|
|
|
Name : |
Mr. Ketan Keshavji Shah |
|
Designation : |
Whole-time-Director |
|
Address : |
502, Manav Mandir, Sarvodya Nagar, |
|
Date of Birth/Age : |
17.02.1970 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.07.2007 |
|
DIN No: |
01362401 |
|
|
|
|
Name : |
Mr. Manoj Shantilal Rathod |
|
Designation : |
Director |
|
Address : |
125-B, Tulsiwadi, |
|
Date of Birth/Age : |
14.05.1970 |
|
Date of Appointment : |
24.07.2010 |
|
DIN No: |
00964365 |
|
|
|
|
Name : |
Mr. Rajeeva Kalinga Shetty |
|
Designation : |
Director |
|
Address : |
Wing I, L-304, Panchvati Angan, Gurukul Road, Chala Via Vapi, Vapipardi,
Valsad-396191, Gujarat, India |
|
Date of Birth/Age : |
14.08.1955 |
|
Date of Appointment : |
12.07.2012 |
|
DIN No: |
05336364 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.07.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Ramesh Shah |
1330000 |
|
Ketan Shah |
1309600 |
|
Jigna K Shah |
25000 |
|
Keshavji Bharmal Shah HUF |
20000 |
|
Keshavji Bharmal Shah |
45500 |
|
Ketan Keshavji Shah HUF |
17500 |
|
Pushpaben Keshavji Shah |
30000 |
|
Ramesh Keshavji Shah (HUF) |
32500 |
|
Sumaria Family Trust, India |
1400000 |
|
Bimal Kantilal Haria |
600 |
|
Sheetal Haria |
50000 |
|
Rohit Plasto Pack Private Limited,
India |
3053730 |
|
Kantilal Lakamshi Haria (HUF) |
600 |
|
Manish Kantilal Haria |
600 |
|
Pravinchandra Hirji Shah |
600 |
|
TOTAL
|
7316230 |
|
Names of Preferences Shareholders |
No. of Shares |
|
Sheetal Haria |
2441000 |
|
TOTAL |
2441000 |
AS ON 21.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
61.40 |
|
Directors or relatives of Directors |
38.60 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Papers |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash, Credit (Depend) |
||||
|
|
|
||||
|
Purchasing : |
Cash, Credit (Depend) |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
|
M.G. Kraft Paper |
MT |
108000 |
|
Particulars |
Unit |
Actual
Production |
|
Kraft Paper |
MT |
978.845 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||
|
No. of Employees : |
240 (Approximately) |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sunderji Gosar and Company Chartered Accountants |
|
Address : |
203, Marshal House, India |
|
PAN No.: |
AALPS9313H |
|
|
|
|
Related Parties : |
·
Rohit Plastopack Private Limited ·
Kumar International |
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 |
|
2500000 |
Preference Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
TOTAL |
|
Rs. 125.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7316230 |
Equity Shares |
Rs.10/- each |
Rs. 73.162
Millions |
|
2441000 |
Preference Shares |
Rs.10/- each |
Rs. 24.410 Millions |
|
|
TOTAL |
|
Rs. 97.572 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
97.572 |
97.572 |
|
(b) Reserves & Surplus |
|
372.877 |
321.808 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
470.449 |
419.380 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
240.909 |
234.779 |
|
(b) Deferred tax liabilities (Net) |
|
53.762 |
45.883 |
|
(c) Other long term liabilities |
|
2.431 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
297.102 |
280.662 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
292.529 |
286.145 |
|
(b) Trade payables |
|
265.446 |
284.257 |
|
(c) Other current
liabilities |
|
104.302 |
70.998 |
|
(d) Short-term provisions |
|
46.487 |
24.241 |
|
Total Current Liabilities (4) |
|
708.764 |
665.641 |
|
|
|
|
|
|
TOTAL |
|
1476.315 |
1365.683 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
541.478 |
499.331 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
35.546 |
2.903 |
|
(b) Non-current Investments |
|
18.458 |
18.458 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
30.732 |
36.807 |
|
(e) Other Non-current assets |
|
7.353 |
0.000 |
|
Total Non-Current Assets |
|
633.567 |
557.499 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
322.959 |
351.245 |
|
(c) Trade receivables |
|
384.840 |
358.080 |
|
(d) Cash and cash
equivalents |
|
36.001 |
29.149 |
|
(e) Short-term loans
and advances |
|
29.931 |
21.464 |
|
(f) Other current
assets |
|
69.017 |
48.246 |
|
Total Current Assets |
|
842.748 |
808.184 |
|
|
|
|
|
|
TOTAL |
|
1476.315 |
1365.683 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
97.572 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
260.053 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
357.625 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
307.898 |
|
|
2] Unsecured Loans |
|
|
128.437 |
|
|
TOTAL BORROWING |
|
|
436.335 |
|
|
DEFERRED TAX LIABILITIES |
|
|
40.074 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
834.034
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
335.725 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
35.267 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
186.178
|
|
|
Sundry Debtors |
|
|
355.878
|
|
|
Cash & Bank Balances |
|
|
24.825
|
|
|
Other Current Assets |
|
|
16.417
|
|
|
Loans & Advances |
|
|
124.236
|
|
Total
Current Assets |
|
|
707.534 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
156.703
|
|
|
Other Current Liabilities |
|
|
41.990
|
|
|
Provisions |
|
|
45.799
|
|
Total
Current Liabilities |
|
|
244.492 |
|
|
Net Current Assets |
|
|
463.042
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
834.034 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2605.389 |
2501.194 |
1914.530 |
|
|
|
Other Income |
66.170 |
69.656 |
21.136 |
|
|
|
TOTAL (A) |
2671.559 |
2570.850 |
1935.666 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
2522.594 |
|
1292.906 |
|
|
|
Excise Duty and Cess |
|
|
74.785 |
|
|
|
Sales Tax |
|
|
67.034 |
|
|
|
Manufacturing Expenses |
|
|
173.667 |
|
|
|
Personnel Expenses |
|
|
24.410 |
|
|
|
Administrative Expenses |
|
|
66.511 |
|
|
|
Selling and Distribution Expenses |
|
|
94.613 |
|
|
|
Increased / Decreased in Stocks |
|
|
(3.596) |
|
|
|
TOTAL (B) |
2522.594 |
2424.730 |
1790.330 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[Including Financial |
[Including Financial |
145.336 |
|
|
|
|
Expenses ] |
Expenses ] |
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
37.789 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
148.965 |
146.120 |
107.547 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
75.484 |
58.213 |
51.319 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
73.481 |
87.907 |
56.228 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.454 |
18.500 |
20.935 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
59.027 |
69.407 |
35.293 |
|
|
|
|
|
|
|
|
|
Less |
DEFERRED TAX LIABILITY |
7.879 |
5.810 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD INCOME TAX |
0.079 |
1.842 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
256.156 |
194.401 |
159.108 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
307.225 |
256.156 |
194.401 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
609.856 |
323.025 |
|
|
|
Stores & Spares |
NA |
5.756 |
2.223 |
|
|
|
Others |
NA |
0.000 |
0.203 |
|
|
TOTAL IMPORTS |
NA |
615.612 |
325.451 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.05 |
8.44 |
4.82 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
2760.000 |
|
|
|
|
|
The above information has been parted by Mr. Rajeeva Shetty.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.21
|
2.70 |
1.82
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.82
|
3.51 |
2.94
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.17
|
6.54 |
5.39
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.21 |
0.16
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.13
|
1.24 |
1.22
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.21 |
2.89
|
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 |
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 |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loans From Others |
99.422 |
73.372 |
|
Intercorporate Borrowings |
2.614 |
42.980 |
|
|
|
|
|
TOTAL |
102.036 |
116.352 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
265.446 |
284.257 |
|
|
Due to Others |
-- |
-- |
156.703 |
|
|
|
|
|
|
TOTAL |
265.446 |
284.257 |
156.703 |
NOTE
The Registered office of the company has been shifted from Haria Centre E/8,
Subhash Road, Vile Parle (East), Mumbai – 400057, India to present address
w.e.f of 01.06.2006
PERFORMANCE REVIEW
The working result
for the year has shown marked all around improvement. The sales of the Company
have increased to Rs.2605.389 Millions compared to Rs.2501.194 Millions in the
previous year, showing the growth of 04.17%. The production of the Kraft Paper
during the year was 99266.656 Mts. compared to 100307.219 Mts in the previous
year. The Net Profit of Rs.51.069 Millions compared to Rs.61.755 Millions in
the previous year. This has been achieved inspite of stiff competition from
well-established players in the industry.
FORM 8
|
Corporate
identity number of the company |
U21000MH1995PTC093122 |
|
Name of the
company |
BEST PAPER MILLS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
2 Ram Niwas Pranjpe ‘B’ Scheme, Road 3, Vile Parle (East),
Mumbai-400057, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10149979 |
|
Type of charge |
·
Immovable
property ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
(i) Consortium
Term Loan Facility Agreement and (ii) Fourth
Supplemental Joint Deed of Hypothecation in favour of SBI,
Commercial Branch at Paramsiddhi Complex, Ellisbridge, Ashram Road, Ahemdabad
and IDBI Bank Limited, Surat Specialised Corporate Branch, Essen House,, 2nd
Floor, Ghod Dod Road, Opposite Kotak House, Surat-395001. |
|
Date of instrument
Creating the charge |
22.03.2013 |
|
Amount secured by
the charge |
Rs. 357.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest (1) SBI- WC 2.5%
>BR presently 12.20%p.a., TL-2.75%> BR presently 12.45%p.a.(2) IDBI-TL
I- DBR+3.25%(presently 12.75%), TL II-BBR+325bps(presently BBR 3.25%), TL
III- BBR+280bps (presently BBR 10.25%) Terms of repayment SBI: Rs. 2.000
Millions, 20 quarterly installments w.e.f. Dec 2013 mor.9 months. IDBI Bank
TL-I : 13 EQI up to March 2016. TL-II: 20 EQIs of
Rs.0.20Cr. TL-III: 20 quarterly installments of Rs.1.200 Millions with a
moratorium period of 9mnths. Margin State Bank of
India:2.30:1 IDBI Bank: (i)TL-II: 33.81% (ii)TL-III:
30.28% Extent and operation of the charge By virtue of
present third modification, the charge stands modified to the extent from Rs.
293.000 Millions to Rs. 357.000 Millions. |
|
Short particulars
of the property charged (Including location of the property) |
(a)
A Hypothecation
charge on Borrower's Entire Current Assets and plant and machineries,
Windmills (situated at (i)
Survey
No.444/p2, Village Sanodar, Taluka Ghogha, District Bhavnagar and (ii)
Survey
No.74/p2, Village Gosa (Adodara) Taluka and District Porbandar), both present
and future and proposed Windmill at village Bada,(Kutch) Gujarat, wherever
situated pertaining to the Borrowers Division / factory / prermises situate
at (i)
Plot
no. 57/FGH/A and B2, GIDC, Vapi, Valsad, Gujarat and (b)
Equitable
mortgage of the immovable property of Rohit Plasto Pack Private Limited
(Guarantoor) situated at the plot no.57,F.G.H/B-1, Phase I, GIDC, Vapi, on
first pari passu charge basis. (c)
Pledge
of 2203730 shares of the Borrower held by Rohit Plasto Pack Private Limited
on first pari passu charge basis. (d)
Personal
guarantee of Shri Rameshbhai Shah and Shri Ketanbhai Shah and Corporate
Guarantee of M/s. Rohit Platso PacK Private Limited. (e)
Pari
Passu 1st Charge on fixed deposit of Rs.2.000 Millions. |
|
Date of instrument
modifying the charge |
09.02.2012 |
|
Particulars of
the present modification |
Charge
Hypothecation dated 01.03.08 for Rs.65.000 Millions on the assets described
in Sr. No 15 created in favour of SBI and last modified to Rs.293.000
Millions in favour of SBI and IDBI on 09.02.2012 is now further modified to
secure due repayment of enhanced aggregate TLs of Rs.357.000 Millions
comprising of (i) SBI TL of Rs.215.000 Millions and (ii) IDBI Bank TL
of Rs.142.00 Millions together (including fresh TL of Rs.40.000 Millions and
Rs.24.000 Millions respectively). |
FIXED ASSETS
·
Land
·
Boiler
·
Factory Building
·
Office Building
·
Plant and Machinery
·
ETP
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Computer
·
Stem Turbine
·
ESP System
·
Wind Mill
·
Wind Mill- Land Dev
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. 60.10 |
|
|
1 |
Rs. 91.07 |
|
Euro |
1 |
Rs. 77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.