MIRA
INFORM REPORT
|
Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAY INSTRUMENTS
AND SYSTEMS PRIVATE LIMITED |
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|
|
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Formerly Known
As : |
JAY COMPUTERS
PRIVATE LIMITED |
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Registered Office : |
E-16, ”Everest”,
Tardeo Road, Mumbai – 400 034, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
06.06.1986 |
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Com. Reg. No.: |
11-040036 |
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Capital Investment / Paid-up Capital : |
Rs.2.460 Millions |
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CIN No.: [Company
Identification No.] |
U30000MH1986PTC040036 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ08631A |
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PAN No.: [Permanent
Account No.] |
AAACJI391A |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer and Exporter of Electronic Weighing Scales. |
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No. of Employees : |
220
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 507000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. 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.
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. Vijay |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-30423048/ 23526207 |
|
Date : |
14.06.2013 |
LOCATIONS
|
Registered Office : |
E-16, ”Everest”,
Tardeo Road, Mumbai – 400 034, Maharashtra, India |
|
Tel. No.: |
91-22-23526207/
30423048 |
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Fax No.: |
91-22-23528210 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1 : |
C-64, TTC Industrial Area, Turbhe, Navi Mumbai – 400 705,
Maharashtra, India |
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Tel. No.: |
91-22-27672955/ 0092 |
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Fax No.: |
91-22-27670161 |
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Location : |
Owned |
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Factory 2 : |
R.S. No.165/C/1,
1st Gate Industrial Estate, Gokul Road, Hubli – 580 030,
Karnataka, India |
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|
Branch Office : |
Located at: ·
Delhi ·
Ahmedabad ·
Chennai ·
Hubli ·
Tirupur ·
Ludhiana ·
Bhopal ·
Pune ·
Panaji ·
Hyderabad ·
Bangalore · Kolkata |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Sharadchandra
Shoorji Kothari |
|
Designation : |
Managing Director |
|
Address : |
122, Summer Ville,
Bhulabhai Desai Road, Mahalaxmi, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
22.11.1936 |
|
Date of Appointment : |
28.09.2012 |
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DIN No.: |
00184421 |
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|
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|
Name : |
Mr. Nikhil
Sharadchandra Kothari |
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Designation : |
Director |
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Address : |
122, Summer
Ville, Bhulabhai Desai Road, Mahalaxmi, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1970 |
|
Date of Appointment : |
01.11.2000 |
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DIN No.: |
00184152 |
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|
|
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Name : |
Mrs. Jayshree
Sharadchandra Kothari |
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Designation : |
Director |
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Address : |
122, Summer
Ville, Bhulabhai Desai Road, Mahalaxmi, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
05.02.1937 |
|
Date of Appointment : |
27.05.2002 |
|
DIN No.: |
00183736 |
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|
|
|
Name : |
Mr. Parag
Sharadchandra Kothari |
|
Designation : |
Director |
|
Address : |
122, Summer
Ville, Bhulabhai Desai Road, Mahalaxmi, Mumbai – 400 026, Maharashtra, India |
|
Date of Birth/Age : |
30.01.1967 |
|
Date of Appointment : |
31.07.2002 |
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DIN No.: |
00184852 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jayshree
Sharadchandra Kothari Sharadchandra Shoorji Kothari |
|
4010 |
|
Nikhil
Sharadchandra Kothari Saloni Nikhil
Kothari |
|
1010 |
|
Parag
Sharadchandra Kothari Jigna Parag
Kothari |
|
1010 |
|
Jay Chemi Colour
Private Limited, India |
|
10 |
|
Shoorji Trikamdas
Investment Company Private Limited, India |
|
4530 |
|
Jayshree
Sharadchandra Kothari Sharadchandra
Soorji Kothari |
|
14030 |
|
Total
|
|
24600 |
As on 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
18.46 |
|
Directors
or relatives of directors |
|
81.54 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electronic Weighing Scales. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Bangladesh · Middle East |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Europe · China · Korea · Italy · Sri Lanka · Japan · Thailand |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011):
|
Licensed Capacity |
2010-2011 |
|
Minicomputers /
Microprocessor Based Systems |
Rs.30.000
Millions |
|
Electronic Weighing
Systems Including Weighing
Bridges / Scales |
Rs.30.000
Millions |
|
Double / Dual Beam
Spectrophotometer |
150 Nos. |
|
Computer Kit Boards |
5000 Nos. |
|
CRT Date Display Monitors |
1000 Nos. |
Capacity has been installed to the extent of the licensed capacity.
Installed capacity is certified by Directors and accepted by Auditors without
verification, this being technical matter.
|
Production |
Unit |
2010-2011 |
|
Electronic Weigh Scale/ Weigh
Bridge/ Indicator |
Nos. |
2529 |
|
Software |
Nos. |
44 |
GENERAL INFORMATION
|
Suppliers : |
·
A&D
Instruments India Private Limited, Haryana |
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Customers : |
End Users ·
Cipla Limited, Mumbai
· Clariant Chemicals India Limited, Mumbai |
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No. of Employees : |
220
(Approximately) |
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Bankers : |
· Syndicate Bank, G001, Rajan House, A.S. Marathe Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India · State Bank of India, Worli · Bank of Baroda, Tardeo Branch, Tardeo Road, Mumbai – 400 034, Maharashtra |
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Facilities : |
CC/LC/BG – Rs.25.000 millions (From Syndicate Bank)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Maganlal and Ajay Mehta Chartered Accountants |
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Address : |
3, A.K. Naik
Road, Room No.20, Fort, Mumbai – 400 001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM2459H |
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Associates
Companies/ Firms : |
·
Jaysynth Impex Limited ·
Jaysynth Dyestuff (India) Limited ·
N.P. Brothers ·
Shoorji Colour Company Private Limited ·
R.P. Trading Company ·
Lester Infoservices Private Limited ·
Sharadchandra Shoorji Trikamdas Charitable Trust |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24600 |
Equity Shares |
Rs.100/- each |
Rs.2.460 Millions |
|
28000 |
5% Redeemable
Cumulative Preference Shares |
Rs.100/- each |
Rs.2.800 Millions |
|
47400 |
5% Redeemable
Cumulative Preference Shares |
Rs.100/- each |
Rs.4.740 Millions
|
|
|
Total |
|
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24600 |
Equity Shares |
Rs.100/- each |
Rs.2.460 Millions |
|
|
|
|
|
Reconciliation
of the shares outstanding at the beginning and at the end of the reporting
period:
|
Particulars |
Opening Balance |
Redemption |
Closing Balance |
|
Equity Shares of
Rs.100/- each fully paid up. |
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|
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|
Year ended
31.03.2012 |
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|
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|
Number of Shares |
24600 |
-- |
24600 |
|
Amount (Rs. in millions) |
2.460 |
-- |
2.460 |
Rights,
Preferences and restrictions attached to shares
The company has one
class of equity shares having a par value of Rs.100/- per share. Each
shareholder is eligible for one vote per share held. The Dividend when proposed
by the Board of Directors is subject to the approval of the shareholders in the
Annual General Meeting except in case of interim dividend. In the event of
liquidation, the equity shareholders are eligible to receive the remaining
assets of the company after distribution of all preferential amounts in
proportion of their shareholding.
|
Equity
shares |
As at 31st March, 2012 |
|
|
No. of Shares |
% Holding |
|
|
Jayshree
Sharadchandra Kothari jointly with
Sharadchandra Shoorji Kothari |
14030 |
57.03 |
|
Shoorji Trikamdas
Investment Company Private Limited, India |
4530 |
18.41 |
|
Jayshree
Sharadchandra Kothari |
4010 |
16.30 |
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 |
|
2.460 |
2.460 |
|
(b) Reserves & Surplus |
|
124.242 |
102.800 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current
liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
4.100 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
2.433 |
2.254 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a)
Short term borrowings |
|
4.087 |
0.000 |
|
(b)
Trade payables |
|
18.920 |
17.007 |
|
(c)
Other current liabilities |
|
17.057 |
13.470 |
|
(d) Short-term
provisions |
|
0.574 |
5.100 |
|
TOTAL |
|
173.873 |
143.091 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
29.294 |
25.549 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
1.560 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.392 |
|
(d) Long-term Loan and Advances |
|
10.595 |
5.720 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.085 |
6.500 |
|
(b)
Inventories |
|
52.923 |
36.537 |
|
(c)
Trade receivables |
|
53.166 |
39.414 |
|
(d) Cash
and cash equivalents |
|
9.204 |
6.827 |
|
(e) Short-term
loans and advances |
|
16.944 |
21.959 |
|
(f)
Other current assets |
|
0.102 |
0.193 |
|
TOTAL |
|
173.873 |
143.091 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
8.210 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
72.810 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
81.020 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.067 |
|
|
TOTAL BORROWING |
|
|
0.067 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
81.087 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
25.483 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
3.858 |
|
|
DEFERREX TAX ASSETS |
|
|
0.217 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
26.472 |
|
|
Sundry Debtors |
|
|
34.539 |
|
|
Cash & Bank Balances |
|
|
7.716 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
25.007 |
|
Total
Current Assets |
|
|
93.734
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
12.935 |
|
|
Other Current Liabilities |
|
|
10.506 |
|
|
Provisions |
|
|
18.764 |
|
Total
Current Liabilities |
|
|
42.205
|
|
|
Net Current Assets |
|
|
51.529 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
81.087 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
310.212 |
284.257 |
179.365 |
|
|
|
Other Income |
0.684 |
1.231 |
46.998 |
|
|
|
TOTAL |
310.896 |
285.488 |
226.363 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
267.909 |
|
57.454 |
|
|
|
Finished Goods Purchased |
|
|
52.129 |
|
|
|
Manufacturing and Other Expenses |
|
|
90.315 |
|
|
|
Increased / Decreased in Stock |
|
|
(1.896) |
|
|
|
TOTAL |
267.909 |
234.787 |
198.002 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
42.987 |
50.701 |
28.361 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.979 |
0.713 |
0.802 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
42.008 |
49.988 |
27.559 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.969 |
2.802 |
2.967 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
39.039 |
47.186 |
24.592 |
|
|
|
|
|
|
|
|
|
Less |
PROVISION FOR
TAXATION |
13.100 |
17.200 |
8.850 |
|
|
Less/ Add |
Excess Provision
for Income Tax of Earlier Years W/back |
(0.004) |
(0.176) |
0.007 |
|
|
Less/ Add |
Excess Provision
for FBT of Earlier Years W/back |
(0.001) |
0.004 |
0.190 |
|
|
Less/ Add |
Deferred Tax |
(4.492) |
0.175 |
0.127 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
21.442 |
29.989 |
15.686 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
61.783 |
37.544 |
23.358 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Capital Redemption Reserve A/c |
0.000 |
5.750 |
1.500 |
|
|
BALANCE CARRIED
TO THE B/S |
83.225 |
61.783 |
37.544 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of exports (CIF less insurance and freight) |
5.581 |
14.101 |
3.971 |
|
|
|
Sales Commission |
67.799 |
49.732 |
32.663 |
|
|
TOTAL EARNINGS |
73.380 |
63.833 |
36.634 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Sub-assemblies and Components |
20.026 |
16.896 |
10.264 |
|
|
|
Others |
26.174 |
25.952 |
35.352 |
|
|
TOTAL IMPORTS |
46.200 |
42.848 |
45.616 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
871.65 |
1219.09 |
NA |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
340.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.380.000 millions
The above information has been parted by Mr. Vijay (Accounts Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.90
|
10.50
|
6.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.58
|
16.60
|
13.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.66
|
33.07
|
20.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.45
|
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03
|
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.26
|
3.13
|
2.22 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
18.920 |
17.007 |
12.935 |
Note:
The Company is in
the process of identifying suppliers falling under the Micro, Small and Medium Enterprises
Development Act, 2006. However, no confirmation as regards to the status has
been received by the Company.
In the absence of
information as regard to the status/ classification of the relevant enterprises
into Micro, Small and Medium Enterprises, information as required under
Notification No. G.S.R. 719 (E) dated 16.11.2007 issued by the Department of
Company Affairs in respect of the total amount payable and amount of interest
thereon paid during the year and payable at the end of the year to the Sundry
Creditors could not be disclosed.
|
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 four years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
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 |
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 |
No |
CONTINGENT LIABILITIES (AS ON 31.03.2012)
·
Inland bank guarantee Rs.6.145 millions
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U30000MH1986PTC040036 |
|
Name of the company |
JAY INSTRUMENTS
AND SYSTEMS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
E-16, ”Everest”, Tardeo
Road, Mumbai – 400 034, Maharashtra, India E-Mail: jsec@jaysynth.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10053828 |
|
Type of charge |
Book Debts Movable Property (not being pledge) Floating Charge |
|
Particular of charge holder |
Syndicate Bank, G001, Rajan House, A.S.
Marathe Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India E-Mail: vlaxman@vsnl.com |
|
Nature of instrument creating charge |
A) Supplemental Hypothecation Agreement. B) Omnibus Counter Guarantee. C) Charge and Hypothecation of Book
Debts-Agreement. (Collectively constitute a single charge) |
|
Date of instrument Creating the charge |
15.03.2012 |
|
Amount secured by the charge |
Rs.19.500 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Interest @ 14% p.a. being 3.25% over and above
the Syndicate Bank's Base Rate from time to time, on calendar quarter end in
each year. Terms of Repayment On Demand Margin As may be stipulated by the Bank from time
to time. Extent and Operation of the charge Hypothecation by way of first charge on
Stocks and Debts of the Company as described under Item No.15 as security,
together with interest, costs, charges, expenses. Others: Nil |
|
Short particulars of the property charged |
Hypothecation of Electronic Items, Display
units, Cabinet, Load all Transformer, Assembled Boards, PCB, Mechanical
Accessories, Keyboard, Cable, Wire Access, Chemicals, Semi Finished Goods,
Finished goods etc. situated at C-64, TTC Industrial Area, Turbhe, Navi
Mumbai - 400705 and R. S. No. 165/C, 1st Gate, Industrial Estate,
Gokul Road, Hubli-580030. Hypothecation by way of First charge on
all the Book Debts outstandings, moneys receivables, claims and bills which
are now due and owing to the Company's in the course of its business by any person
firm company or by any Government or any Local or Public Body or authority. |
|
Particulars of the present modification |
The charge now stands increased from
Rs.12.000 Millions to Rs.19.500 Millions in favour of the Bank against the
security of stocks and book debts of the Company. |
TRADE REFERENCES:
·
A&D
Instruments India Private
Limited, Haryana
·
Cipla Limited,
Mumbai
·
Clariant Chemicals
India Limited, Mumbai
FIXED ASSETS:
·
Leasehold Land
·
Factory Road
·
Factory Building
·
Air- Conditioning
·
Plant and Machinery
·
Electrical Installation
·
R&D Equipment
·
Office Equipment
·
Furniture and Fixture
·
Generator
·
Factory Equipment
·
Safety Equipment
·
Office Premises
·
Computers
·
Water Cooler
·
Motor Vehicles
·
Cycle
·
Tools and Equipments
·
Mobile Handset
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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.