MIRA
INFORM REPORT
|
Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
GREEN GOLD TIMBERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 36/1 and 37, NH 8A, 8KM, Milestone, Post Box No.259, Padama
Anjar – 370110, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.10.1998 |
|
|
|
|
Com. Reg. No.: |
04-034826 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.22.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20200GJ1998PTC034826 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTG00080D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG7875Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Timber. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. The
profitability of the company seems to be low. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B+ (Long Term Rating) |
|
Rating Explanation |
Having high risk of default regarding timely
servicing of financial obligation. |
|
Date |
May 2013 |
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. Akhilesh Manglik |
|
Designation : |
Director |
|
Contact No.: |
91-9925043371 |
|
Date : |
20.06.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No. 36/1 and 37, NH 8A, 8KM, Milestone, Post Box No.259, Padama
Anjar - 370110, Gujarat, India |
|
Tel. No.: |
91-2836-286485 / 286201/ 296777 |
|
Mobile No.: |
91-9925043371 (Mr. Akhilesh Manglik) |
|
Fax No.: |
91-2836-286486 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Government Industrial Estate, Patel Nagar, Dehradun – 248 001, |
|
Tel. No.: |
91-135-2722541 |
|
Fax No.: |
91-135-2723404 |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Akhilesh Manglik |
|
Designation : |
Director |
|
Address : |
Plot No. 41 and 42, Navratna Residency, Meghpar, Anjar, Gujarat ,
India |
|
Date of Appointment : |
15.10.1998 |
|
DIN No.: |
|
|
|
|
|
Name : |
Mr. Mudit Manglik |
|
Designation : |
Director |
|
Address : |
11-A, |
|
Date of Appointment : |
15.10.1998 |
|
DIN No.: |
00301050 |
|
|
|
|
Name : |
Mr. Anuj Manglik |
|
Designation : |
Director |
|
Address : |
Plot No. 41 and 42, Navratna Residency, Meghpar, Anjar, Gujarat, India
|
|
Date of Appointments : |
15.10.1998 |
|
DIN No.: |
00301167 |
|
|
|
|
Name : |
Ms. Rita Manglik |
|
Designation : |
Director |
|
Address : |
Plot No. 41 and 42, Navratna Residency, Meghpar, Anjar, Gujarat, India |
|
Date of Birth/Age : |
02.01.1949 |
|
Date of Appointment : |
27.09.2007 |
|
DIN No.: |
02561466 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Akhilesh Manglik |
|
658980 |
|
Mudit Manglik |
|
164640 |
|
Anuj Manglik |
|
619360 |
|
Rita Manglik |
|
140 |
|
Archana Manglik |
|
292740 |
|
Rashi Manglik |
|
126140 |
|
Mudit Manglik (HUF) |
|
238000 |
|
Green Gold Tree Farmers Private Limited, India |
|
140000 |
|
|
|
|
|
Total |
|
2240000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
6.25 |
|
Directors or relatives of directors |
|
93.75 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Timber. |
|
|
|
|
Imports : |
|
|
Products : |
Timber |
|
Countries : |
·
Germany ·
USA ·
Canada ·
Russia ·
Belgium |
|
|
|
|
Terms : |
|
|
Selling : |
Credit and Depend |
|
|
|
|
Purchasing : |
Credit and Depend |
GENERAL INFORMATION
|
Customers : |
Sahara India |
||||||||||||||||||||||||||||||
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No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
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Bankers : |
· Union Bank of India, Main Branch, 19-B, Rajpur Road, Dehradun – 248 021, Uttaranchal, India · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India · ICICI Bank Limited · Kotak Mahindra Bank Limited · Jammu and Kashmir Bank Limited |
||||||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
Note: Details of Securities
and Terms of Repayment : I. Secured Loans
(From Banks) i Kotak Mahindra
Bank (Term Loan – Rs.0.575 Million) a. The loan is secured against hypothecation of Financed vehicle. b. Interest is payable at flat rate of 7.76%. b. The loan was repayable in 35 monthly installments as below : - First I I monthly installments of Rs. 0.029 Million each - Next 12 monthly installments of Rs. 0.021 Million- each - Last 12 monthly installments of Rs. 0.012 Million- each c. The period of maturity of loans w.r.t balance sheet date is 1 year 6 months. ii Union Bank of
India - Term Loan - 3068061100000274 a. The Term Loan sanctioned by Bank is Rs.7.000 Millions. b. Details of Securities : Secured Against Charge over all the Fixed and Current Assets of the Company. c. The Principal amount of loan was repayable in 36 monthly installments of Rs.0.194 Millions plus d. The period of maturity of loans w.r.t balance sheet date is 1 year 7 months. e. Interest is payable at the rate of 4.50% above Bank's base rate, rising or falling therewith. Present rate of interest is 15.15% p.a iii Union Bank of
India -Cash Credit - 306805010000406 a. The Cash Credit Limit sanctioned by Bank is Rs.30.000 Millions. Out of which, CC limit to the tune Rs.2.500 Millions is parked for Gandhidham Branch of Green Gold Timbers Private Limited. b. Details of Securities : Secured Against * Hypothecation of all the Stocks of Timber and the Processed Timber, fully paid up and insured; * Lien over Deposits of Margin money of DA LC and LG; * Charge over all the Fixed and Current Assets of the Company. * Equitable Mortgage over the 10 collaterals of director and related parties. c. The Cash Credit has generally a tenure of 1 year however is repayable on demand. d. Interest is payable at the rate of 4.50% above Bank's base rate, rising or falling therewith. Present rate is 15.15% p.a. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Hiranandani and Company Chartered Accountants |
|
Address : |
“Banke Bihari”, Plot No. 16, Ward 10-B (C), Opposite IFFCO Main Gate,
Gandhidham – 370 201, Gujarat, India |
|
Tel. No.: |
91-2836-234080 / 233732 |
|
Fax No.: |
91-2836-233382 |
|
E-mail : |
|
|
Pan No.: |
AACFH2667N |
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|
|
|
Enterprises owned
or Significantly influenced by Key Management Personnel other their relatives
(Other Related Parties): |
· Green Gold Tree Farmers Private Limited · Green Gold Timber Traders · Green Gold Timber - Anantnag |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2240000 |
Equity Shares |
Rs.10/- each |
Rs.22.400 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 |
|
22.400 |
22.400 |
|
(b) Reserves & Surplus |
|
6.926 |
5.480 |
|
(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 |
|
15.250 |
15.551 |
|
(b) Deferred tax liabilities (Net) |
|
0.488 |
0.601 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
50.932 |
40.796 |
|
(b) Trade payables |
|
203.247 |
171.160 |
|
(c) Other current
liabilities |
|
15.977 |
10.633 |
|
(d) Short-term provisions |
|
0.891 |
4.392 |
|
TOTAL |
|
316.111 |
271.013 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
21.483 |
21.680 |
|
(ii) Intangible Assets |
|
0.011 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
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 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4.022 |
2.533 |
|
(e) Other Non-current assets |
|
14.933 |
14.009 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
136.805 |
123.880 |
|
(c) Trade receivables |
|
114.193 |
104.296 |
|
(d) Cash and cash
equivalents |
|
14.363 |
2.064 |
|
(e) Short-term loans
and advances |
|
10.178 |
2.464 |
|
(f) Other current
assets |
|
0.123 |
0.087 |
|
TOTAL |
|
316.111 |
271.013 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
16.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
8.229 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
24.229 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2.127 |
|
|
2] Unsecured Loans |
|
|
20.066 |
|
|
TOTAL BORROWING |
|
|
22.193 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
46.422 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
13.212 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
(0.391) |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
30.063
|
|
|
Sundry Debtors |
|
|
62.028
|
|
|
Cash & Bank Balances |
|
|
1.767
|
|
|
Deposits |
|
|
0.803
|
|
|
Loans & Advances and Other Current Assets |
|
|
4.233
|
|
Total
Current Assets |
|
|
98.894 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
12.390
|
|
|
Other Current Liability |
|
|
2.373
|
|
|
Provisions |
|
|
|
|
|
Dehradun Branch A/C |
|
|
50.579
|
|
Total
Current Liabilities |
|
|
65.342 |
|
|
Net Current Assets |
|
|
33.552 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.049 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
46.422 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
762.540 |
634.818 |
398.652 |
|
|
|
Other Income |
1.979 |
2.994 |
3.726 |
|
|
|
TOTAL (A) |
764.519 |
637.812 |
402.378 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
0.000 |
0.000 |
|
|
|
|
Purchase of Stock-in-Trade |
636.893 |
606.628 |
|
|
|
|
(Increase)/decrease in Inventories |
(12.924) |
(92.795) |
|
|
|
|
Employee benefit expense |
4.552 |
5.415 |
|
|
|
|
Other expenses |
116.728 |
102.000 |
|
|
|
|
TOTAL (B) |
745.249 |
621.248 |
394.194 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.270 |
16.564 |
8.184 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.386 |
8.625 |
5.516 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.884 |
7.939 |
2.668 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.548 |
2.594 |
1.870 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.336 |
5.345 |
0.798 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.890 |
1.694 |
0.303 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.446 |
3.651 |
0.495 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.076 |
3.425 |
2.930 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
7.076 |
3.425 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
340.624 |
267.073 |
173.778 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.65 |
1.63 |
0.31 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
950.000 |
|
|
|
|
|
The above information has been parted by Mr. Akhilesh Manglik
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.19 |
0.57
|
0.12
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.31 |
0.84
|
0.20
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.74 |
1.97
|
0.71
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.19
|
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.26 |
2.02
|
0.92
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.03
|
1.51
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
|
|
|
|
Payable for Goods |
195.931 |
169.749 |
|
|
Payable for Expenses |
7.316 |
1.411 |
|
|
|
|
|
|
|
Total |
203.247 |
171.160 |
12.390
|
|
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 four 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)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Akhilesh Manglik HUF |
4.758 |
4.204 |
|
Akhilesh Manglik |
1.500 |
1.500 |
|
Anubhuti Manglik |
0.114 |
0.100 |
|
Anuj Manglik HUF |
0.491 |
0.433 |
|
Anuj Manglik |
0.900 |
0.742 |
|
Archana Manglik |
0.408 |
0.000 |
|
Mudit Manglik HUF |
1.121 |
0.975 |
|
Rashi Manglik |
0.740 |
0.652 |
|
Rita Manglik |
3.324 |
2.928 |
|
Mudit Manglik |
0.408 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
From Related
Parties |
|
|
|
Ananya Manglik |
0.450 |
0.300 |
|
Anchal Manglik |
0.578 |
0.371 |
|
Ankit Manglik HUF |
1.301 |
0.949 |
|
Gauri Manglik |
0.000 |
1.568 |
|
Kapilesh Manglik |
3.347 |
1.847 |
|
Raghav Manglik |
0.943 |
0.965 |
|
Akhilesh Manglik |
0.374 |
0.180 |
|
Anuj Manglik |
0.050 |
0.000 |
|
From Others |
|
|
|
Ankita Kumar |
0.568 |
0.568 |
|
Anubhav Kumar |
0.568 |
0.568 |
|
Madhu Jain |
0.187 |
0.165 |
|
Sahu Ram Kishore |
1.074 |
1.066 |
|
Alka Aren |
1.500 |
0.000 |
|
Total |
24.704 |
20.081 |
NOTE
The Registered Company of the company has been shifted from Survey No.187, N H No. 8- Amthi Rohar Gandhidham, Kutch – 370 201, Gujarat,
India to present address w.e.f. 11.06.2009
PERFORMANCE:
The companies working results for the year ended 31'' March, 2012 have been satisfactory. The total turnover stood at Rs. 756.556 Millions during the year and you will observe that the company has made net profit of Rs.2.336 Millions (before tax). The net profit has been reduced during the year mainly on account fall of rupee in comparision to dollar and the company has to suffer a loss on account of exchange rate fluctuation. The Directors recommend that after making a provision for current and deferred tax, the balance may be carried forward.
In the current year, company has good contracts on hand and directors hope to show better results but for unforseen circumstances.
CONTINGENT LIABILITIES
NOT PROVIDED FOR IN RESPECT OF:
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Letter of Credits outstanding for Purchase of Materials |
18.718 |
13.866 |
|
Counter Guarantees given to Banks for guarantees issued on behalf of company |
0.061 |
0.061 |
|
Claims against the Company not acknowledged as Debt- Income Tax Demand under appeal |
1.168 |
14.827 |
TRADE REFERENCE:
· Sahara India
· Crompton Greaves Limited
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U20200GJ1998PTC034826 |
|
Name of the
company |
GREEN GOLD
TIMBERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Survey No. 36/1 and 37, NH 8A, 8KM, Milestone, Post Box No.259, Padama
Anjar – 370110, Gujarat, India E-mail: mgoel@vsnl.com |
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
90105115 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Union Bank of India, Main Branch, 19-B, Rajpur Road, Dehradun – 248 021, Uttaranchal, India |
|
Nature of
instrument creating charge |
1) As per
Composite Hypothecation Deed (SD-20) dated 23.03.2013 |
|
Date of
instrument Creating the charge |
23.03.2013 |
|
Amount secured by
the charge |
Rs.224.307
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Composite
Hypothecation Deed (SD-20) dated 23.03.2013 C.C.H. BR+4.5% Term Loan BR+4.5% Terms of
Repayment As per Composite
Hypothecation Deed (SD-20) dated 23.03.2013 Margin As per Composite
Hypothecation Deed (SD-20) dated 23.03.2013 Extent and
Operation of the charge The Company's
properties goods, stocks, raw materials, plant and machinery, fixtures, book
debts, vehicles etc. as mentioned in the Hypothecation agreement are
hypothecated to secure credit facilities aggregating to Rs.224.307 Millions
dated 23.03.2013. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
all stocks of Timber, raw materials, plant, machinery, fixtures, vehicles
etc. fully paid and duly insured lying : 36 and 37 Padana
Gandhidham and 5B Industrial Area, Patel Nagar, Dehradun. Charge over all
fixed and current assets of the company lying at the premises: 36-37 Padana
Gandhidham and 5B Industrial Area Dehradun Charge over all
the present and future book debts, and other receivables. EM over the
collateral property More particulars
as per : Composite
Hypothecation Deed (SD-20) dated 23.03.2013 |
|
Date of
instrument modifying the charge |
28.09.2012 |
|
Particulars of
the present modification |
The total amount of
charge secured against hypothecation of stock, book debts and movables as per
details mentioned above has now been enhanced from Rs.214.673 Millions to
Rs.224.307 Millions .Break up of enhanced credit facilities is as under: C. C. H. 30.000 Millions Adhoc C.C.H. 30.000 Millions Term Loan 4.307 Millions Import L. C. 160.000 Millions Total 224.307 Millions |
FIXED ASSETS
Tangible Assets
· Buildings
· Plant and Equipments
· Furniture and Fixtures
· Vehicles
· Office Equipments
· Computer
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.59.70 |
|
|
1 |
Rs.92.22 |
|
Euro |
1 |
Rs.79.19 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.