MIRA
INFORM REPORT
|
Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANATHAN TEXTILES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
192, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.10.2005 |
|
|
|
|
Com. Reg. No.: |
21-105863 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.119.905 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
u17299wb2005ptc105863 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
cals17128g |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS6021P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Textile Yarn. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4968000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a satisfactory track
record. There appears slight dip in the profitability during 2012. However, general financial strength of the company seems to strong.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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: BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation it carry moderate credit risk |
|
Date |
14.11.2012 |
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.: 91-22-66343312)
LOCATIONS
|
Registered Office/ Head Office : |
192, |
|
Tel. No.: |
91-33-22686462 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office/ Administrative Office : |
B-6, Trade World, 1st Floor, Kamla Mills Compound, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
|
Tel. No.: |
91-22-66343312/ 12/ 14/ 30420121/ 22 |
|
Fax No.: |
91-22-66663453 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Survey Plot No.187/4/1/2, Village Surangi, Dapada, Silvassa – 396 230,
Dadra and Nagar Haveli, |
DIRECTORS
AS ON 14.09.2012
|
Name : |
Mr. Paresh Kumar V. Dattani |
|
Designation : |
Director |
|
Address : |
Ridge Apartments, Ridge Road, Malabar Hills, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth/Age : |
24.07.1960 |
|
Date of Appointment : |
10.10.2005 |
|
DIN No.: |
00163591 |
|
PAN No.: |
AEAPD8148Q |
|
|
|
|
Name : |
Mr. Dineshkumar Vrajdas Dattani |
|
Designation : |
Director |
|
Address : |
Bhaveshwar Sagar, 20, Nepean Sea Road, Mumbai – 400 036, Maharashtra,
India |
|
Date of Birth/Age : |
27.07.1948 |
|
Date of Appointment : |
10.10.2005 |
|
DIN No.: |
00163701 |
|
PAN No.: |
ADWPD3056C |
|
|
|
|
Name : |
Mr. Ajay Kumar V. Dattani |
|
Designation : |
Director |
|
Address : |
F 70, Venus Apartment, R.G. Thadani Marg, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Date of Birth/Age : |
23.07.1967 |
|
Date of Appointment : |
10.10.2005 |
|
DIN No.: |
00163739 |
|
PAN No.: |
AEAPD8147B |
|
|
|
|
Name : |
Mr. Vallabhdas Vrajdas Dattani |
|
Designation : |
Director |
|
Address : |
214, Walkeshwar Road, Sudama Buliding, 5th Floor, Mumbai –
400 006, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1942 |
|
Date of Appointment : |
17.04.2006 |
|
DIN No.: |
00163794 |
|
|
|
|
Name : |
Mr. Anilkumar Vrajdas Dattani |
|
Designation : |
Director |
|
Address : |
Sadhna Hillway, 5th Floor, Gamadia Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Birth/Age : |
20.04.1958 |
|
Date of Appointment : |
10.10.2005 |
|
DIN No.: |
00164175 |
|
PAN No.: |
ADWPD3054A |
KEY EXECUTIVES
|
Name : |
P. Das and
Company |
|
Designation : |
Company
Secretaries |
|
Address : |
4th Floor,
Bentinck Chambers, Room No.404, 37A, Bentinck Street, Kolkata - 700 069, West
Bengal, India |
|
Tel. No.: |
91-33-22420021-2 |
|
Fax No.: |
91-33-22420021 |
|
E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.09.2012
|
Names of Shareholders |
No. of Shares |
|
Ajay Kumar V. Dattani |
3274650 |
|
Anil Kumar V. Dattani |
1367450 |
|
Dinesh Kumar V. Dattani |
3376300 |
|
Paresh Kumar V. Dattani |
3792100 |
|
Vajubhai Investment Private Limited, |
3000 |
|
Vallabhdas Dattani (HUF) |
3000 |
|
Sonali Dattani |
28000 |
|
Dinesh Kumar V. Dattani (HUF) |
3000 |
|
Geeta Dattani |
1500 |
|
Samir Dattani |
1500 |
|
Sweta Dattani |
1500 |
|
Jayshree Dattani |
1500 |
|
Jyotsna Dattani |
3000 |
|
Vallabhdas Dattani |
3000 |
|
Anil Kumar Dattani (HUF) |
23000 |
|
Paresh Kumar Dattani (HUF) |
38000 |
|
Beena Dattani |
45000 |
|
Mikesh Dattani |
25000 |
|
TOTAL
|
11990500 |
AS ON 14.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies
corporate |
0.03 |
|
Directors
or relatives of directors |
99.97 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Textile Yarn. |
||||
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|
||||
|
Products : |
|
||||
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|
|
||||
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Exports : |
|
||||
|
Products : |
·
Finished Goods |
||||
|
Countries : |
·
Korea ·
Brazil |
PRODUCTION STATUS (AS ON 31.03.2011)
Licensed Capacity
(Capacity under the Industrial Enterpreneurs memorandum filed with the
Government of India and duly acknowledged under the scheme of de-licensing
notified by the Government)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
|
MT |
200000 |
27000 |
|
Polyester Oriented Yarn |
MT |
190000 |
28000 |
|
F.D.Y |
MT |
90000 |
8000 |
|
Cotton Yarn |
MT |
9600 |
4800 |
|
Particulars |
Unit |
Actual
Production |
|
|
Kg. |
24357357.245 |
|
Twist Yarn |
Kg. |
3006036.61 |
|
Polyester Oriented Yarn/ F.D.Y |
Kg. |
36731871.467 |
|
Cotton Yarn |
Kg. |
3736132.052 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
|||||||||||||||||||||
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|
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|
Bankers : |
·
Bank of Baroda, Crowford Market Branch, Dada
Manzil 67/69, Mohammed Ali Road, Mumbai – 400 003, Maharashtra, India ·
Landebank Baden-Wurttemberg, Am Hauptbahnhof 2,
70173 Stuttgart, Federal Republic of Germany, Stuttgart DE Germany 70049 |
|||||||||||||||||||||
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|
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K. Dattani and Company Chartered Accountants |
|
Address : |
37A, Bentinck Street, 4th Floor, Room No.404, Bentinck
Chambers, Kolkata – 700 069, West Bengal, India |
|
PAN No.: |
AAEFK2583L |
|
|
|
|
Associates : |
Universal Texturisers Private Limited, India CIN No.:
U17299WB2006PTC108821 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11990500 |
Equity Shares |
Rs.10/- each |
Rs.119.905
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 |
|
119.905 |
117.405 |
|
(b) Reserves & Surplus |
|
1122.007 |
859.439 |
|
(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 |
|
1291.572 |
1193.298 |
|
(b) Deferred tax liabilities (Net) |
|
29.013 |
42.044 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
591.234 |
752.506 |
|
(b) Trade payables |
|
36.277
|
209.499
|
|
(c) Other current
liabilities |
|
243.608
|
107.228
|
|
(d) Short-term provisions |
|
2.410
|
1.646
|
|
TOTAL |
|
3436.026 |
3283.065 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1633.208 |
1509.639 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
289.961 |
189.556 |
|
(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 |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
558.947
|
838.643
|
|
(c) Trade receivables |
|
437.817
|
349.525
|
|
(d) Cash and cash
equivalents |
|
72.274
|
165.427
|
|
(e) Short-term loans and
advances |
|
281.077
|
109.176
|
|
(f) Other current assets |
|
162.742
|
121.099
|
|
TOTAL |
|
3436.026
|
3283.065
|
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
117.405 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
536.623 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
654.028 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1414.598 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
1414.598 |
|
|
DEFERRED TAX LIABILITIES |
|
|
30.514 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2099.140 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1471.511 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
401.809
|
|
|
Sundry Debtors |
|
|
110.190
|
|
|
Cash & Bank Balances |
|
|
72.850
|
|
|
Other Current Assets |
|
|
85.311
|
|
|
Loans & Advances |
|
|
101.923
|
|
Total
Current Assets |
|
|
772.083 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
34.799 |
|
|
Other Current Liabilities |
|
|
52.778
|
|
|
Provisions |
|
|
57.019
|
|
Total
Current Liabilities |
|
|
144.596 |
|
|
Net Current Assets |
|
|
627.487
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.142 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2099.140 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5974.377 |
4624.259 |
3123.141 |
|
|
|
Other Income |
|
|
4.664 |
|
|
|
TOTAL (A) |
5974.377 |
4624.259 |
3127.805 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
2362.188 |
|
|
|
Manufacturing and Operating Costs |
|
|
245.463 |
|
|
|
Employment Costs |
|
|
41.690 |
|
|
|
Administrative, Selling and Other Expenses |
|
|
66.446 |
|
|
|
Directors Remuneration |
|
|
7.200 |
|
|
|
Auditors Remuneration |
|
|
0.225 |
|
|
|
Loss on sale of Fixed Assets |
|
|
0.028 |
|
|
|
Preliminary Expenses W/off |
|
|
0.143 |
|
|
|
Increase/Decrease in stock |
|
|
(3.682) |
|
|
|
TOTAL
(B) |
5511.444 (including
finance expenses) |
4000.334 (including
finance expenses) |
2719.701 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
408.104 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
53.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
462.933 |
623.925 |
355.014 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
210.209 |
205.350 |
164.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
252.724 |
418.575 |
190.464 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
37.657 |
95.758 |
60.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
215.067 |
322.817 |
130.152 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods
calculated on F.O.B. basis |
199.759 |
314.980 |
60.351 |
|
|
TOTAL EARNINGS |
199.759 |
314.980 |
60.351 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
4.027 |
45.202 |
107.771 |
|
|
|
Manufacturing Goods (Including raw-materials and spares) |
96.701 |
263.093 |
35.050 |
|
|
TOTAL IMPORTS |
100.728 |
308.295 |
142.821 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.94 |
27.50 |
11.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.60
|
6.98 |
4.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
6.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.03
|
13.53 |
8.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.43 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.52
|
1.99 |
2.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73
|
1.48 |
5.34 |
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 |
36.277
|
209.499
|
34.799 |
|
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) |
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U17299WB2005PTC105863 |
|
Name of the
company |
SANATHAN TEXTILES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
192, E-Mail: pawancs.das@rediffmail.com |
|
This form is for |
Creation
of charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
Landebank Baden-Wurttemberg, Am Hauptbahnhof 2, 70173 Stuttgart,
Federal Republic of Germany, Stuttgart DE Germany 70049 E-Mail: peter.froemke@lbbw.de |
|
Nature of
instrument creating charge |
Deed of hypothecation
dated 06.05.2013 executed by the company in favour of Landesbank
Baden-Wurttemberg, Am Hauptbahnhof 2, 70173 Stuttgart, Germany. |
|
Date of
instrument Creating the charge |
06.05.2013 |
|
Amount secured by
the charge |
Rs.140.760
millions |
|
Corporate
identity number of the company |
U17299WB2005PTC105863 |
|
Name of the
company |
SANATHAN TEXTILES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
192, E-Mail: pawancs.das@rediffmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10026551 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others
(Equitable mortgage by deposit of title deeds) |
|
Particular of
charge holder |
Bank of E-Mail: crawfo@bankofbaroda.com |
|
Nature of
instrument creating charge |
1. Joint Deed of
Hypothecation of Goods, Book Debts, Movable Machinery and Vehicles Dated
10.01.2013. 2. Memorandum of
Equitable Mortgage Dated 10.01.2013 3. Sanction
Letter Issued By Bank of Baroda Dated 29.10.2012 And Union Bank of India
Dated 04.12.2012. |
|
Date of
instrument Creating the charge |
10.01.2013 |
|
Amount secured by
the charge |
Rs.8322.300
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 2% above Base
Rate of the Bank per annum with monthly rests on Cash Credit and 1.75% above
Base Rate of the Bank per annum with monthly rests on the Term Loan. Terms of repayment 1. Non-Fund based
and Cash Credit-12months 2. PFY Division:-
Term Loan III and IV-28 quarterly installments, Cash Credit-12 months. 3. POY Division:-
Term Loan II-30 quarterly installments, Term Loan III-27 quarterly
installments, Term Loan IV-40 quarterly installment. 4. COTTON
Division:- Term Loan I-32 quarterly installments, Term Loan II-32 quarterly
installments. 5. CP Plant
Division:- Term Loan I and II-32 quarterly installments. Margin Varies From 10%
to 30% as per sanctioned letter. Extent and operation of the charge The charge is
operative on current assets, movable fixed assets (except machinery financed
by Landesbank Baden-Wuerttemberg, Germany) and immovable property of the
company as detailed in the instruments of charge dated 10.01.2013. |
|
Short particulars
of the property charged (Including location of the property) |
Extension of
equitable mortgage of Flat No.9C, C wing, Ridge Apartments, Ridge Road, Malabar
Hills, Mumbai-400006 Extension of
charge of all current and fixed assets both present and future of the company
except machinery financed by Landesbank Baden-Wuerttemberg, Germany Mortgage of
property at 15th Floor admeasuring 542.96 sq. mtrs. (carpet area)
along with 9 car parking’s in Trade World Building D wing of Kamla Mill
Compound, SB Marg, Lower Parel West, Mumbai 400013 Personal
Guarantee of directors. |
|
Date of
instrument modifying the charge |
07.04.2012 |
|
Particulars of the
present modification |
Revision of
Credit Limit to Rs.8322.300 Millions by way of grant fresh term loan |
FIXED ASSETS:
· Land
· Building
· Electrical Installation
· Water Softening Plant
· Air Compressor
· Office Equipments
· Hoist lift
· Air Ventilators
· Auto Conner
· Blow Room
· Ring Frames
· Telecom Equipments
· Transformer
· Cone Testing Machine
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.22 |
|
Euro |
1 |
Rs.79.19 |
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 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.