1. Summary Information
|
|
|
Country |
|
|
Company Name |
VTS TF AIR SYSTEMS PRIVATE LIMITED |
Principal Name 1 |
Krzysztof Tomasz Mital |
|
Status |
Moderate |
Principal Name 2 |
Arkadiusz Skierski |
|
|
|
Registration # |
08-036130 |
|
Street Address |
Plot No. 222 to 224 and 229 to 232, KIADB Industrial Area, 3rd
Phase, Malur – 563130, Karnataka |
||
|
Established Date |
21.04.2005 |
SIC Code |
-- |
|
Telephone# |
91-8151-232683/ 84 |
Business Style 1 |
Manufacture |
|
Fax # |
91-8151-32685 |
Business Style 2 |
Distribution |
|
Homepage |
Not Available |
Product Name 1 |
Air Conditioning |
|
# of employees |
Not Available |
Product Name 2 |
Refrigeration |
|
Paid up capital |
Rs.171,254,000/- |
Product Name 3 |
Ventilation Products |
|
Shareholders |
Foreign holdings (100.00%) |
Banking |
Canara Bank |
|
Public Limited Corp. |
NO |
Business Period |
8 Years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow Subsidiaries |
Poland |
VTS SP. ZOO |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
157,262,000 |
Current Liabilities |
171,529,000 |
|
Inventories |
59,209,000 |
Long-term Liabilities |
58,440,000 |
|
Fixed Assets |
137,598,000 |
Other Liabilities |
27,778,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
257,747,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
(74,932,000) |
|
|
|
Net Worth |
96,322,000 |
|
Total Assets |
354,069,000 |
Total Liab. & Equity |
354,069,000 |
|
Total Assets (Previous Year) |
330,008,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
326,873,000 |
Net Profit |
(82,321,000) |
|
Sales (Previous yr) |
307,885,000 |
Net Profit(Prev.yr) |
(62,996,000) |
MIRA
INFORM REPORT
|
Report Date : |
16.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
VTS TF AIR SYSTEMS PRIVATE LIMITED (w.e.f. 18.09.2010) |
|
|
|
|
Formerly Known
as : |
CLIVET TF AIR SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 222 to 224 and 229 to 232, KIADB Industrial Area, 3rd
Phase, Malur – 563130, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.04.2005 |
|
|
|
|
Com. Reg. No.: |
08-036130 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 171.254 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29192KA2005PTC036130 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRC05991G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC6263C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture, distribution, commissioning and
service of air conditioning, refrigeration and ventilation products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 470000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appears some accumulated losses recorded by the company. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: B+ |
|
Rating Explanation |
Having high risk of default regarding timely servicing of financial
obligation. |
|
Date |
June 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.
LOCATIONS
|
Registered Office / Factory / India Logistics Centre: |
Plot No. 222 to 224 and 229 to 232, KIADB Industrial Area, 3rd
Phase, Malur – 563130, Karnataka, India |
|
Tel. No.: |
91-8151-232683/ 84 |
|
Fax No.: |
91-8151-32685 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Sales Head Quarters: |
No. 183, Gayatri Tech Park, Road 1 B, EPIP, KIADB, Whitefield,
Bangalore – 560066, Karnataka, India |
|
Tel No.: |
91-80-40540222 |
DIRECTORS
As on 28.09.2012
|
Name : |
Krzysztof Tomasz Mital |
|
Designation : |
Director |
|
Address : |
22, Centaura, Gdansk, Poland 80299 |
|
Date of Birth/Age : |
21.07.1977 |
|
Date of Appointment : |
01.07.2010 |
|
DIN No.: |
02758550 |
|
|
|
|
Name : |
Arkadiusz Skierski |
|
Designation : |
Whole-time director |
|
Address : |
Konwaliowa 7 Mlawa, 06500, Poland |
|
Date of Birth/Age : |
24.08.1971 |
|
Date of Appointment : |
26.07.2011 |
|
DIN No.: |
03578808 |
|
|
|
|
Name : |
Mr. Ravi Kant Puri |
|
Designation : |
Managing director |
|
Address : |
No. D 201, Akme Ballet, Outer Ring Road, Marathahalli, Dodda,
Nekkundi, Bangalore – 560037, Karnataka, India |
|
Date of Birth/Age : |
21.05.1970 |
|
Date of Appointment : |
26.07.2011 |
|
DIN No.: |
03583164 |
|
|
|
|
Name : |
Hanna Barbara Siek Zagorska |
|
Designation : |
Director |
|
Address : |
Slonecznikowa 2, 81-198, Kosakowo, 0, Poland |
|
Date of Birth/Age : |
19.01.1978 |
|
Date of Appointment : |
03.07.2012 |
|
DIN No.: |
05310650 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
VTS Group S. A, Luxembourg |
|
10898003 |
|
Safeman Limited, Cyprus |
|
7500000 |
|
Total |
|
18398003 |
As on 24.05.2013
|
Names of Allottees |
|
No. of Shares |
|
VTS Group S.A, Luxembourg |
|
1156829 |
|
Total |
|
1156829 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture, distribution, commissioning and
service of air conditioning, refrigeration and ventilation products. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
|
|
Installed Capacity |
Nos. |
3075 |
|
Actual Production -AHU |
Nos. |
1837 |
* The installed
capacity serves multiple purposes and will vary according to product mix. The installed
capacity has been certified by the company’s management and relied upon by the
auditors, this being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
Canara Bank, Maruthi Mansion, No. 19/7, Cunningham Road, Bangalore –
560052, Karnataka, India |
||||||||||||||
|
|
|
||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre
Anchorage II, 100/2, Richmond Road, Bangalore-560025, Karnataka, India |
|
PAN.: |
AACFD3771D |
|
|
|
|
Ultimate Holding Company: |
·
VTS Group SA, Luxembourg |
|
|
|
|
Holding Company: |
·
Safe Man Limited, Cyprus |
|
|
|
|
Companies with Significant Influence: |
·
Clivet SPA, Italy (Till 11th June
2010) |
|
|
|
|
Enterprises whichare owned, or have significant influence of or are
partners with Key management personnel and their relatives: |
·
Trac Fujico Airsystems LLP, India ·
Climaveneta Climate technologies Private Limited,
India CIN: U29253KA2010PTC055471 |
|
|
|
|
Fellow Subsidiaries: |
·
Clivet MI-East FZC., Dubai ·
VTS SP ZOO – Poland ·
VTS Ventus India Private Limited, India CIN: U26929KA2007PTC042219 ·
VTS Clima Air Conditioning Equipment Company
Shanghai, China ·
VTS Clima Gulf FZCO, United Arab Emirates |
CAPITAL STRUCTURE
After 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs.180.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19554832 |
Equity Shares |
Rs.10/- each |
Rs.195.548 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs.180.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17125405 |
Equity Shares |
Rs.10/- each |
Rs.171.254 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
171.254 |
|
(b) Reserves & Surplus |
|
|
(74.932) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
20.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
116.322 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
2.796 |
|
Total Non-current Liabilities (3) |
|
|
2.796 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
58.440 |
|
(b) Trade payables |
|
|
158.567 |
|
(c) Other current
liabilities |
|
|
12.962 |
|
(d) Short-term provisions |
|
|
4.982 |
|
Total Current Liabilities (4) |
|
|
234.951 |
|
|
|
|
|
|
TOTAL |
|
|
354.069 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
136.410 |
|
(ii) Intangible Assets |
|
|
1.188 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
8.156 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total Non-Current Assets |
|
|
145.754 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
59.209 |
|
(c) Trade receivables |
|
|
95.118 |
|
(d) Cash and cash
equivalents |
|
|
10.360 |
|
(e) Short-term loans and
advances |
|
|
42.974 |
|
(f) Other current assets |
|
|
0.654 |
|
Total Current Assets |
|
|
208.315 |
|
|
|
|
|
|
TOTAL |
|
|
354.069 |
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
163.881 |
150.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
46.119 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(63.224) |
(0.228) |
|
|
NETWORTH |
|
146.776 |
149.772 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
79.057 |
82.210 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
79.057 |
82.210 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
225.833 |
231.982 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
107.281 |
104.638 |
|
|
Capital work-in-progress |
|
3.001 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
2.232 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
31.176
|
42.090 |
|
|
Sundry Debtors |
|
130.746
|
130.511 |
|
|
Cash & Bank Balances |
|
10.458
|
19.664 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
47.346
|
39.430 |
|
Total
Current Assets |
|
219.726
|
231.695 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
73.447
|
91.118 |
|
|
Other Current Liabilities |
|
20.531
|
7.739 |
|
|
Provisions |
|
10.197
|
7.726 |
|
Total
Current Liabilities |
|
104.175
|
106.583 |
|
|
Net Current Assets |
|
115.551
|
125.112 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
225.833 |
231.982 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
326.873 |
307.885 |
325.473 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Office
Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising
Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(75.055) |
(54.872) |
12.788 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.266 |
5.892 |
5.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(82.321) |
(60.764) |
6.878 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
2.232 |
(0.582) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(82.321) |
(62.996) |
7.460 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
|
6.669 |
20.245 |
|
|
|
Services (Including Warranty Recoveries) |
|
0.682 |
4.839 |
|
|
|
FOB Value of Exports |
|
0.205 |
2.819 |
|
|
|
Other Earnings |
|
0.000 |
1.605 |
|
|
TOTAL EARNINGS |
2.939 |
7.556 |
29.508 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
13.706 |
19.484 |
|
|
|
Capital Goods |
NA |
2.608 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
16.314 |
19.484 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(5.02) |
(3.93) |
0.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(25.18)
|
(19.73)
|
2.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(23.25)
|
(18.58)
|
2.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.71)
|
(0.41)
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.50
|
0.54
|
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89
|
2.11
|
2.17 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: The registered
address of the company Plot No: 222 to 224 and 229 to 232, KIADB Industrial
Area, 3rd Phase, Malur – 572130, Karnataka, India has been shifted
to the present address w.e.f. 03.02.2012
REVIEW OF OPERATIONS
AND BUSINESS PROSPECTS:
There is a marginal increase in the sales revenue of the company. The
Company has incurred a loss this year also. Due to increase in the cost of
materials and operating cost, the loss has marginally increased. The Company is
making its earnest effort to increase the sales and earn profit during the
current financial year.
BACKGROUND
Subject is a manufacturing and supplying of
Air Handling Unit (AHU), and is a subsidiary of Safeman Limited and VTS Group
SA, Luxembourg being the ultimate holding Company. Subject (formerly Clivet TF
Air Systemsprivate Limited) was incorporated during the year 2005 to carry out
business of manufacture, distribution, commissioning and service of air
conditioning, refrigeration and ventilation products.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29192KA2005PTC036130 |
|
Name of the
company |
VTS TF AIR
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 222 to 224 and 229 to 232, KIADB Industrial Area, 3rd
Phase, Malur – 563130, Karnataka, India Email: ravi.puri@vtsgroup.com
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10008266 |
|
Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) ·
Floating charge |
|
Particular of
charge holder |
CIN: U29192KA2005PTC036130 Canara Bank, Maruthi Mansion, No. 19/7, Cunningham Road, Bangalore –
560052, Karnataka, India Email: sannakumarg@canarabank.com
|
|
Nature of
instrument creating charge |
Letter Date 7th
March 2013 |
|
Date of
instrument Creating the charge |
07.03.2013 |
|
Amount secured by
the charge |
Rs.130.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest (Same as per previous
modification date. 15.12. 2008) Terms of
Repayment (Same as per
previous modification date. 15.12. 2008) Margin (Same as per
previous modification date. 15.12. 2008) Extent and
Operation of the charge The charge shall
operate to the extent of Rs.130.000 Millions plus interest, dues if any. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First charge by
way of (a) hypothecation of stocks of rawmaterials, work in process, finished
goods, plant, machineries, bookdebts and other movables present/future
stored/installed at Plot Nos. 222 to 224 & 229 to 232, KIADB Ind. Area,
Malur Kolar 53130 or at any other place and (b) equitable mortgage of land
with building and other structures (existing and to be constructed) at Sy.Nos.128 and 72, 16 and 7
at Malur Ind. Area, Plot No. 222, 223, 224, 229, |
|
Date of
instrument modifying the charge |
15.12.2008 |
|
Particulars of
the present modification |
An amount of Rs. 55.000
Millions has been repaid out of the charge amount of Rs.185.000 Millions and the balance loan amount shall be
Rs.130.000 Millions/- (All other terms
and conditions as per previous modification date 15.12.2008 remain unchanged) |
FIXED ASSETS
Tangible assets
·
Buildings
·
Factory building
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
·
Leasehold improvements
Intangible assets
·
Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.90.71 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
27 |
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.