MIRA
INFORM REPORT
|
Report Date : |
19.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PEST CONTROL (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
36, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.07.1954 |
|
|
|
|
Com. Reg. No.: |
11-009347 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH1954PTC009347 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15164C / MUMP00273A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP5994K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in providing Pest Control Services and Plant Protection Work. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3051000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and a reputed company having a fine track record. Financial position of the company appears to be sound. Directors are reported to be experienced and respectable businessmen. Trade Relations are reported as decent. Business is active. Payments are reported to be regular and as per commitments.
Company can be considered good 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 |
CARE |
|
Rating |
Long Term Bank Facilities: A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
December, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating: A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
December, 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 DECLINED
Management non-cooperative
(Tel. No.: 91-22-40865600)
LOCATIONS
|
Registered Office : |
36, |
|
Tel. No.: |
91-22-26865550-4/ 22810595/ 22041546/ 40865600 |
|
Fax No.: |
91-22-26865555/ 22810594 |
|
E-Mail : |
|
|
Website : |
http://www.pcil.in |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
2nd and 5th
Floor, Jagdamba House, (Next to Anupam Cinema), Peru Baug, P.O. Box 9060,
Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-26865550-4/ 66990256 |
|
Fax No.: |
91-22-26865555/ 66990256 |
|
E-Mail : |
|
|
|
|
|
Bio-Control Research Laboratories (BCRL) : |
No.36/2, Sriramanahalli, Rajankunte
Post, P.O. Box 6426, Yelhanka, Bangalore – 560064, Karnataka, India |
|
E-Mail : |
|
|
|
|
|
Plants : |
|
|
Address: |
A-6/10/11, MIDC Area, Post Box No.30, Western Express Highway, Beyond Dahisar Check Post, Mira (District Thane) – 401107, Maharashtra, India |
|
Tel No.: |
91-22-28456277/ 28454278/ 28456934/ 28455207/ 28455734/ 28455652 |
|
Fax No.: |
91-22-28457313 |
|
Email: |
|
|
|
|
|
Address: |
Taloja Plot Nos. 38/39, Taloja MIDC (Chemical Zone), Industrial
Area, Village :Navade, Taluka : Panvel, Dist : Raigad – 410208, |
|
Tel No.: |
91-2145-27402263/ 27401024/ 27401025 |
|
Fax No.: |
91-2145- 27402263 |
|
Email: |
|
|
|
|
|
Address: |
Vasai Bio-Control Research Laboratories (BCRL) No.36/2, Sriramanahalli, Rajankunte Post, P.O. Box 6426, Yelahanka, Bangalore – 560064, Karnataka, India |
|
Email: |
|
|
|
|
|
Sales Division : |
127, Keytuo Industrial Estate, 220, |
|
Tel No.: |
91-22-28212546-7/ 28217385/ 28328481 |
|
Fax No.: |
91-22-28221647 |
|
Email: |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Anil Sripad Rao |
|
Designation : |
Chairman and Managing Director and Chief Executive Officer |
|
Address : |
|
|
Date of Birth/Age : |
03.01.1951 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.03.2011 |
|
DIN No.: |
00151328 |
|
PAN No.: |
AAIPR8067L |
|
|
|
|
Name : |
Mr. Nalkur Sripad Narsing Rao |
|
Designation : |
Chairman Emeritus Executive Director |
|
Address : |
No.1, Union Park, Nargis Dutt Marg, Khar, Mumbai – 400 052, Maharashtra, India |
|
Date of Birth/Age : |
20.09.1920 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
20.12.2008 |
|
DIN No.: |
00239558 |
|
|
|
|
Name : |
Dr. Pramila Kanu Chatterjee |
|
Designation : |
Executive Director (Medical and Welfare) |
|
Address : |
319, Sector ‘A’, Packet ‘C’, Vasant Kunj, New Delhi – 110 070, India |
|
Date of Birth/Age : |
15.04.1943 |
|
Date of Appointment : |
01.03.2011 |
|
DIN No.: |
00239716 |
|
|
|
|
Name : |
Mrs. Joshua Anil Rao |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
05.09.1983 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
03519154 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
Note:
Shareholding details file attached.
(AS ON 29.12.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
0.05 |
|
Directors or relatives of Directors |
|
85.73 |
|
Other top fifty shareholders |
|
10.86 |
|
Others |
|
3.36 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing Pest Control Services and Plant Protection Work. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· Indian Overseas Bank Fort Branch,
2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai – 400 023,
Maharashtra, India · HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India · Kotak Mahindra Bank Limited 36-38A, Nariman
Bhavan, 227,D, Nariman Point,
Mumbai – 400 021, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharat Shanbag and Company Chartered Accountants |
|
Address : |
“Vagdevi”, 369 – B, S.B. Marg, Mahim, Mumbai – 400016, Maharashtra, India |
|
Tel No : |
91-22-24226986/24377598 (Res.) |
|
PAN No : |
AAEPS4138R |
CAPITAL STRUCTURE
(AS ON 29.12.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
120000 |
Equity shares |
Rs.100/- each |
Rs.12.000 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 |
|
12.000 |
12.000 |
|
(b) Reserves & Surplus |
|
750.751 |
607.478 |
|
(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) |
|
762.751 |
619.478 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
70.673 |
99.759 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
17.173 |
15.965 |
|
(d) Long-term
provisions |
|
60.000 |
30.000 |
|
Total Non-current
Liabilities (3) |
|
147.846 |
145.724 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
4.856 |
2.782 |
|
(b)
Trade payables |
|
4.522 |
14.624 |
|
(c)
Other current liabilities |
|
648.845 |
564.168 |
|
(d) Short-term
provisions |
|
3.487 |
0.000 |
|
Total Current
Liabilities (4) |
|
661.710 |
581.574 |
|
|
|
|
|
|
TOTAL |
|
1572.307 |
1346.776 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
523.249 |
448.220 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
97.048 |
50.770 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
37.585 |
29.508 |
|
(c) Deferred tax assets (net) |
|
30.865 |
1.768 |
|
(d) Long-term Loan and Advances |
|
41.108 |
32.647 |
|
(e) Other
Non-current assets |
|
7.950 |
1.795 |
|
Total Non-Current
Assets |
|
737.805 |
564.708 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
211.093 |
174.509 |
|
(c)
Trade receivables |
|
249.322 |
232.071 |
|
(d) Cash
and cash equivalents |
|
338.060 |
329.428 |
|
(e)
Short-term loans and advances |
|
23.521 |
31.027 |
|
(f)
Other current assets |
|
12.506 |
15.033 |
|
Total
Current Assets |
|
834.502 |
782.068 |
|
|
|
|
|
|
TOTAL |
|
1572.307 |
1346.776 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
12.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
482.011 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
494.011 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
115.114 |
|
|
2] Unsecured Loans |
|
|
2.372 |
|
|
TOTAL BORROWING |
|
|
117.486 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
611.497 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
415.441 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
11.086 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
165.023
|
|
|
Sundry Debtors |
|
|
228.110
|
|
|
Cash & Bank Balances |
|
|
211.170
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
78.023
|
|
Total
Current Assets |
|
|
682.326 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
149.334
|
|
|
Other Current Liabilities |
|
|
358.613
|
|
|
Provisions |
|
|
(10.591)
|
|
Total
Current Liabilities |
|
|
497.356 |
|
|
Net Current Assets |
|
|
184.970
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
611.497 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2529.500 |
2249.500 |
1898.800 |
|
|
|
Other Income |
27.257 |
17.932 |
10.715 |
|
|
|
TOTAL |
2556.757 |
2267.432 |
1909.515 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2322.148 |
2039.020 |
1739.286 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
234.609 |
228.412 |
170.229 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
39.946 |
40.096 |
33.957 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
194.663 |
188.316 |
136.272 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
47.903 |
63.290 |
47.702 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
146.760 |
125.026 |
88.570 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENTS |
0.000 |
0.441 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
157.475 |
132.008 |
103.438 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15.000 |
100.000 |
60.000 |
|
|
|
Proposed Dividend |
3.000 |
0.000 |
0.000 |
|
|
|
Corporate Divided Tax |
0.487 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
285.748 |
157.475 |
132.008 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at F.O.B |
|
|
29.595 |
|
|
|
Other (Freight, Insurance etc.) |
|
|
2.100 |
|
|
|
Sales Service |
|
|
0.000 |
|
|
|
Technical Fees and Commission |
|
|
4.359 |
|
|
TOTAL EARNINGS |
79.587 |
48.037 |
36.054 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Value of Import of Chemicals and Equipment
on CIF basis |
NA |
NA |
104.468 |
|
|
TOTAL IMPORTS |
NA |
NA |
104.468 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1223.00 |
1041.88 |
738.08 |
|
%20PRIVATE%20LIMITED%20-%20229225%2019-Jul-2013_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20229225%2019-Jul-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.74
|
5.51
|
4.64
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.70
|
8.37
|
7.18
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.84
|
14.89
|
12.41
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.30
|
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.10
|
0.17
|
0.24
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.34
|
1.37
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF
CURRENT MATURITIES OF LONG-TERM DEBTS: Not Available
|
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 |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS |
|
|
|
Loans taken for other fixed assets |
0.547 |
0.547 |
|
|
|
|
|
Total |
0.547 |
0.547 |
CORPORATE INFORMATION:
The Company is
domiciled in India and incorporated under the provisions of Indian Companies
Act., VII of 1913 on 30th July, 1954 and that the company is Limited.
The company is engaged in providing pest control services to RBU and CBU
customers and is having all India net work. The company is also engaged in sale
of its Products as well as trading in others Products too.
FINANCIAL RESULTS:
During the year,
the Sales have increased to Rs.2529.500 Millions from Rs.2249.500 Millions
during the corresponding previous year and the profit before tax has increased
to Rs.194.663 Millions (Previous Year Rs.188.316 Millions).
BUSINESS PERFORMANCEAND REVIEW:
The Company's
overall turnover has increased by 12.5% over the previous year with the
Services and Product sales turnover registering an increase of 9.6% and 19.4%
respectively over the previous year and the profit after tax by 17.4%.
The company
performance has been consistent over the years despite the challenging and
competitive market conditions. It was possible through a concerted effort to
consolidate market share and an increased focus on sales, implementing the
strategies devised in these years.
The operations of
the company continued to be under tremendous pressure during the year because
of depressed market conditions. The services have faced severe price pressures
from many competitors, new and old, despite whom they have largely managed to
maintain their client base through consistent delivery of quality.
The Product Sales
Division has done well through increased distributorship for Bio-control
Products pushing a remarkable growth consistently. This reflects the greater
acceptance of their quality products by the farmers and government agencies
supporting the adoption of their Eco-friendly products. They hope to further
capitalise on this growing trend the next year too.
Sales of ETO
sterilisers to the health sector and related manufacturing industries has
contributed substantially to the good performance in product sales and there
are indications that this trend will continue the following year too. The
exports during the year has increased by 77% which contributed largely for such
good results.
Many new,
innovative products like the Cockroach Traps based on the technologies
emanating from BCRL, have shown great acceptance amongst clients and helped
differentiate the service in a market increasingly crowded by new companies.
Research and product development in this vein continues to provide them unique
advantages in keeping them ahead of the competition.
With a view to
expand their production capacity as well as facility for their BCRL unit, the
company has recently acquired a prime property at Bengaluru which is close to
their existing BCRL unit. This shall not only enhance their production of
existing Eco-friendly products but also new products which are in the pipeline.
The Joint Venture
Company PCI Environmental Services Private Limited has progressed
satisfactorily and has expanded its operations to major metro cities.
The Joint Venture
Company Cannon Pest Management Company Limited, Thailand has progressed
satisfactorily and during the year, the Company has remitted Rs.8.077 Millions
as additional call money on the existing shares held in that company.
The Company has
recently entered into a Joint Venture with Everest PCI Pest Management Private
Limited, in Nepal which has a great potential for growth in this field.
Considering unsatisfactory
performance, the directors have decided to terminate the Joint Venture contract
with Alpha PCI Pest Management Limited, in Mauritius and called back their
investment from the said company.
CONTINGENT LIABILITIES: (Not Provided for) (AS ON 31.03.2012)
a)
Counter guarantees for the guarantees issued by the
Bank, as at 31st March 2012: Rs.4.279 Millions (Previous year:
Rs.4.046 Millions).
b)
Letter of Credit issued by the Bank, as at 31st
of March, 2012: Rs.9.666 Millions (Previous year: Rs.4.257 Millions)
c)
Claims against the Company not acknowledged as
debts in respect of Excise Duty: Rs.0.010 Million (Previous year: Rs.0.010
Million).
d)
Claims against the Company not acknowledged as
debts in respect of Service Tax: Rs.4.931 Millions (Previous year: Rs.4.931
Millions)
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74140MH1954PTC009347 |
|
Name of the
company |
PEST CONTROL
(INDIA) PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Yusuf
Building, 36, M G Road, Mumbai –
400001, Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Kotak Mahindra
Bank Limited 36-38A, Nariman
Bhavan, 227, D, Nariman
Point, Mumbai – 400021, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
deposit of title deeds |
|
Date of
instrument Creating the charge |
17.09.2012 |
|
Amount secured by
the charge |
Rs.100.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Term Loan -
Floating over the tenure of the facility. Terms of
Repayment Term Loan - Moratorium
period of 3 months from the date of first disbursement under Term Loan
facility. Loan shall be
repaid by way of 57 monthly installments starting from the 4th month
following the month of first disbursement of Term Loan. Interest should
be payable monthly. Monthly
installments shall exclude amount of monthly interest. Monthly
installments shall be recovered by way of debit to current account of the
Borrower with the Bank. Margin Term Loan -
10.75% Extent and
Operation of the charge First and exclusive
charge by way of mortgage on Immovable property of the Company in favour of
Kotak Mahindra Bank Limited as security for repayment of financial facilities
granted by the Bank to the Company. |
|
Short particulars
of the property charged |
All that piece
and parcel of immovable property being land with Industrial Shed bearing Plot
No.9-B, formed by the Karnataka Industrial Areas Development Authority
(KIADB), situated at Doddaballapura Industrial Area in Survey Nos.91 and 92
of Bashettihalli Village, Kasaba Hobli, Doddaballapura Taluk, Bangalore Rural
District, measuring on the East 160 metres, West by 182 metres, North by 100
metres and on the South by 114 metres, in all measuring a total extent of
17,817 square metres. Together with land and all present and future
buildings, structures and plant and machinery. |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Equipments
· Furniture and Fixtures
· Electrical Installations
· Motor Vehicles
· Cycles
· Capital Work in Progress
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.59.71 |
|
|
1 |
Rs.90.59 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
55 |
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.