|
Report Date : |
05.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ORIENTAL RUBBER
INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Shravani Gardens, 20, Viman Nagar, Nagar Road, Pune – 411
014, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit & Loss A/c) |
|
|
|
|
Date of
Incorporation : |
20.01.1949 |
|
|
|
|
Com. Reg. No.: |
11-006875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.910
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199PN1949PLC006875 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEO01206C PNEO00948D PNEO00232B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO1592L |
|
|
|
|
Legal Form : |
A
Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer,
Trader, Dealer, Exporter and Importer of Rubber and Rubber Goods of all kinds
and articles made of real or synthetic rubber. |
|
|
|
|
No. of Employees
: |
600
(approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1559000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having good track record. Financially company performance
seems to be good. Directors appear to be experience businessmen. Trade relations
are reported to be fair. Business is active. Payments are reported to be
regular and as per commitment. The company can
be considered for normal 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
This rating are considered to have moderate degree of safety regarding
timely servicing of financial obligations. Such instruments carry moderate
risk. |
|
Date |
30.04.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
This rating are considered to have moderate degree of safety regarding
timely servicing of financial obligation. Such instruments carry higher
credit risk. |
|
Date |
30.04.2012 |
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 PARTED BY
|
Name : |
Mr. K.P. Mishra |
|
Designation : |
Export Department |
|
Contact No.: |
91-20-66270800 |
|
Date : |
02.03.2013 |
LOCATIONS
|
Registered Office : |
Shravani Gardens, 20, Viman Nagar, Nagar Road, Pune – 411 014, Maharashtra, India |
|
Tel. No.: |
91-20-66270800 |
|
Fax No.: |
91-20-26680810/ 26630840 |
|
E-Mail : |
orientalrubber@sm3.sprintrpg.ems.vsnl.net.in mukesh@orientalrubber.com |
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Gat Nos.519/2, 521/2, 523 and 525, Village Koregaon, Taluka Shirur, Bhima Nagar Road, District Pune – 412 207, Maharashtra, India |
DIRECTORS
As on 12.11.2012
|
Name : |
Mr. Vikram Vijeynand Makar |
|
Designation : |
Managing Director |
|
Address : |
Cluster 1/8, Kumar City, Kalyani Nagar, Pune – 411 014, Maharashtra,
India |
|
Date of
Birth/Age : |
29.01.1963 |
|
Qualification : |
B. Com |
|
Date of
Appointment : |
13.08.2012 |
|
DIN No.: |
00020284 |
|
|
|
|
Name : |
Mr. Vishal Vijeynand Makar |
|
Designation : |
Managing Director |
|
Address : |
Cluster 1/13 and 14, Kumar City, Kalyani Nagar, Pune – 411 014,
Maharashtra, India |
|
Date of
Birth/Age : |
22.08.1965 |
|
Qualification : |
Chemical Engineer, PG in Polymer Sciences |
|
Date of
Appointment : |
13.08.2012 |
|
DIN No.: |
00020253 |
|
|
|
|
Name : |
Mr. Satish Kotian |
|
Designation : |
Whole-Time Director |
|
Address : |
FL No. E-1/401 Madhuban Classics, Vishrantwadi, Pune – 411 015,
Maharashtra, India |
|
Date of
Birth/Age : |
28.04.1958 |
|
Date of
Appointment : |
13.08.2012 |
|
DIN No.: |
06374939 |
KEY EXECUTIVES
|
Name : |
Mr. K.P. Mishra |
|
Designation : |
Export Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.11.2012
|
Names of Shareholders |
No. of Shares |
|
Vijeynand Sadanand Makar |
5 |
|
Kamlesh Vijeynand
Makar |
138485 |
|
Vishal Vijeynand
Makar |
1793992 |
|
Vikram Vijeynand
Makar |
1793992 |
|
Meetashi
Vishal Makar |
500 |
|
Poonam Vikram Makar |
500 |
|
Punvick Investments Private Limited, India |
25 |
|
Quadrant Trades Private Limited, India |
1 |
|
Total
|
3727500 |
As on 12.11.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
0.00067 |
|
Directors
or relatives of directors |
|
99.99933 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Trader, Dealer, Exporter and Importer of Rubber and Rubber Goods of all kinds
and articles made of real or synthetic rubber. |
||||||||
|
|
|
||||||||
|
Products : |
Conveyor Belts ·
General
Purpose Belt ·
Heat
Resistant Belts ·
Fire
Resistant Belts ·
Oil
Resistant Belts ·
Chemical
Resistant Belts ·
Hygienic
Belts ·
Rough
Top Belts ·
Profile
Belts ·
Pipe
Conveyor Belts Rubber
Sheets ·
Rubber Sheets for Wear Resistant Applications ·
Skirt Rubber, Scrapers, Chute Lining, Screens ·
Natural, SBR, Nitrile, Neoprene, ·
Butyl, EPDM rubber sheeting ·
Pulley Lagging ·
Pulley Lagging in Diamond, Square, ·
Round profile and Ceramic lagging ·
Other Products ·
Specialized Rubber products ·
Impact Bars ·
Wheel Wedge ·
Buffers |
||||||||
|
|
|
||||||||
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Exports : |
|
||||||||
|
Products : |
·
Finished Goods |
||||||||
|
Countries : |
·
South Africa ·
Europe ·
USA ·
Austria |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
·
Raw Materials |
||||||||
|
Countries : |
·
Korea ·
China |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Conveyor and Transmission Belts |
16500 MT |
15300 MT |
911681 Meters |
|
Other Rubber Products |
8500 MT |
2200 MT |
2011390 Kgs |
Installed capacity depends upon the product mix,
which has been certified by the management and accepted by the auditors without
verification, being a technical matter.
GENERAL INFORMATION
|
Suppliers : |
·
Performance Fibers |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
Wholesalers and Retailers Steel ·
SAIL Steel Authority of India Limited ·
Bhilai Steel Plant ·
Bokaro Steel Plant ·
Durgapur Steel Plant ·
Rourkela Steel Plant ·
Raw Material Division ·
Indian Iron and Steel Company Limited ·
Rashtriya Ispat Nigam Limited ·
Visakhapatnam Steel Plant ·
JSW Steel Limited ·
Ispat Industries Limited ·
Tata Iron and Steel Company Limited Cement ·
Aditya Birla Group of Companies ·
Tamil Nadu Cements Corporation Limited ·
Birla Corporation Limited ·
Dalmia Cements Limited ·
Shriram Cements Fertilisers and Chemicals ·
Gujarat Narmada Valley Fertlisers Company Limited ·
Gujarat State Fertlisers Company Limited - Baroda
and Sikka ·
National Fertilisers Limited - Bhatinda, Panipat
and Vijapur ·
Paradeep Phosphates Limited ·
Zuari Industries Limited Original Equipment Manufacturer ·
Thyssenkrupp Industries India Private Limited ·
Mahindra Engineering and Chemical Products
Limited (Engineering Division) ·
Sandvik Asia Limited ·
FFE Minerals India Private Limited ·
Larsen and Toubro Limited ECC Division Mining ·
National Mineral Development Corporation Limited ·
Coal India Limited ·
The Singareni Collieries Company Limited ·
Sesa Goa Limited ·
Neyveli Lignite Corporation Limited Power ·
Maharashtra State Electricity Power Generation
Company Limited ·
National Thermal Power Corporation Limited ·
Torrent Power AEC Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
600 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
Corporation Bank, Industrial Finance Branch, 14,
Pune Mumbai Road, Wakdewadi, Pune – 411 003, Maharashtra, India
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Notes: a) Working
Capital facility from Consortium Banks is secured against mortgage of fixed assets
and hypothecation of inventory and book debts. b) Term Loans
are secured by mortgage by deposit of title deeds with Union Bank of India,
leader of consortium bankers, of all company immoveable properties, both
present and future and hypothecation of inventory and book debts ranking
pari-passu with the charges created in favour of consortium bankers, Union
Bank of India, Corporation Bank and First rand Bank. All the above
loans are guaranteed by all the Directors in their individual capacity. c) Vehicle Loans are secured by first charge on the specific assets
financed by respective lenders. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohan Deshmukh and Company Chartered Accountants |
|
Address : |
B-306,
Narayan Chambers, 555, Narayan Peth, Pune – 411 030, |
|
Tel. No.: |
91-20-24451898/
24451974/ 24484752/ 24484751 |
|
E-Mail : |
|
|
PAN No.: |
AACFM1053F |
|
|
|
|
Step Down
Subsidiary of the company : |
Oriental Rubber Industries (SA) Pty Limited, South Africa |
|
|
|
|
Company in which
Directors are directors : |
Quadrant Trades Private Limited |
CAPITAL STRUCTURE
As on 12.11.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3727500 |
Equity Shares |
Rs.10/- each |
Rs.37.275
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1491000 |
Equity Shares |
Rs.10/- each |
Rs.14.910
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
14.910 |
14.910 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
374.958 |
308.018 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
389.868 |
322.928 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
828.843 |
729.874 |
|
|
2] Unsecured Loans |
|
44.374 |
42.332 |
|
|
TOTAL BORROWING |
|
873.217 |
772.206 |
|
|
DEFERRED TAX LIABILITIES |
|
24.600 |
23.677 |
|
|
|
|
|
|
|
|
TOTAL |
|
1287.685 |
1118.811 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
325.011 |
331.922 |
|
|
Capital work-in-progress |
|
93.326 |
91.293 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
8.171 |
0.822 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
442.030
|
308.716
|
|
|
Sundry Debtors |
|
647.253
|
542.771
|
|
|
Cash & Bank Balances |
|
29.028
|
54.114
|
|
|
Other Current Assets |
|
299.549
|
232.561
|
|
|
Loans & Advances |
|
3.685
|
3.530
|
|
Total
Current Assets |
|
1421.545
|
1141.692 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
327.366
|
259.316 |
|
|
Other Current Liabilities |
|
69.323
|
48.180 |
|
|
Provisions |
|
163.679
|
139.422 |
|
Total
Current Liabilities |
|
560.368
|
446.918
|
|
|
Net Current Assets |
|
861.177
|
694.774
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1287.685 |
1118.811 |
|
Note: Balance Sheet for the year 2012 is not available only Profit & Loss
A/c is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2946.619 |
2027.279 |
1498.769 |
|
|
|
Other Income |
2.688 |
5.631 |
24.337 |
|
|
|
TOTAL (A) |
2949.307 |
2032.910 |
1523.106 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2037.514 |
1432.468 |
1352.365 |
|
|
|
Employee benefit expense |
148.832 |
110.568 |
|
|
|
|
Other expenses |
378.703 |
270.601 |
|
|
|
|
TOTAL (B) |
2565.049 |
1813.637 |
1352.365 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
384.258 |
219.273 |
170.741 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
92.423 |
81.845 |
62.257 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
291.835 |
137.428 |
108.484 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
42.123 |
36.379 |
37.446 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
249.712 |
101.049 |
71.038 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
79.613 |
23.422 |
18.062 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
170.099 |
77.627 |
52.976 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
292.815 |
233.638 |
194.755 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
NA |
8.000 |
5.400 |
|
|
|
Dividend
|
NA |
10.450 |
8.693 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
292.815 |
233.638 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Manufacturing Items on FOB Basis |
NA |
1442.913 |
1021.636 |
|
|
|
Freight & Insurance on the above |
NA |
46.342 |
12.461 |
|
|
TOTAL EARNINGS |
NA |
1489.255 |
1034.097 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
977.153 |
440.022 |
|
|
TOTAL IMPORTS |
NA |
977.153 |
440.022 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
114.08 |
52.06 |
33.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.77 |
3.82
|
3.48
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.47 |
4.98
|
4.74
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
5.79
|
4.82
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.26
|
0.22
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA |
2.24
|
2.39
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
2.54
|
2.55
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
|
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Sundry Creditors |
|
|
|
|
- Creditors due small micro enterprises |
|
0.000 |
0.000 |
|
- Creditors due others |
|
327.366 |
259.316 |
|
Total
|
|
327.366 |
259.316 |
|
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 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 |
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 |
No |
|
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 |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Deferred sales tax loan unsecured |
15.233 |
15.233 |
|
Other debt unsecured |
29.141 |
27.099 |
|
Total |
44.374 |
42.332 |
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U25199N1949PLC006875 |
|
Name of the company |
ORIENTAL RUBBER
INDUSTRIES LIMITED |
|
Address of the registered office or of the
principal place of business in |
E-Mail: mukesh@orientalrubber.com |
|
This form is for |
Modification of charge |
|
Charge identification number of the
modified |
10046398 |
|
Type of charge |
Immovable Property Book Debts Movable Property (not being pledge) Others (Stock in all its elements, PandM,
Building etc.) |
|
Particular of charge holder |
Union Bank of India IFB Lead Bank, Sacha
Peer Street, Cantonment Camp, Pune – 411 001, Maharashtra, India E-Mail: kirti@unionbankofindia.com |
|
Nature of description of the instrument
creating or modifying the charge |
Correction Deed executed to effect the
correct status of the credit facilities extended by the banks under 'Union
Bank Consortium' and to vouch and confirm the executed documents between
the Union Bank of India IFB Pune for itself and for Member Banks viz.
Corporation Bank and First Rand Bank Limitd and accordingly registered with
Revenue Authorities Sub Registrar Talegaon Dhamdhere District Pune under
Document No.5757-2012 |
|
Date of instrument Creating the charge |
23.10.2012 |
|
Amount secured by the charge |
Rs.1958.100 millions |
|
Brief particulars of the principal terms an
conditions and extent and operation of the charge |
Rate of Interest: All the Terms and Conditions related to
charge will be as per Sanction Letters as per respective Member's Sanction
Letters for which reference have been in the First Schedule of Mortgage Deed. Terms of Repayment: All the Terms and Conditions related to
charge will be as per Sanction Letters as per respective Member's Sanction
Letters for which reference have been in the First Schedule of Mortgage Deed. Margin: All the Terms and Conditions related to
charge will be as per Sanction Letters as per respective Member's Sanction
Letters for which reference have been in the First Schedule of Mortgage Deed. Extent and Operation of the charge: The extent and scope of the charge and
ranking of the Priority of the charge on all current assets present and
future and on immovable assets and tangible assets will be governed, as per
documents executed, including the Correction Deed between the Borrower
Company and the Member Banks and UBI for itself and as a Lead Bank under
Consortium Advance known as 'UBI CONSORTIUM' and simultaneously registered
with Revenue Authorities as Document No.5757-2012 Sub Registrar Talegaon
Dhamdhere District Pune. Others: The Company, by virtue of the Board
Resolution passed on 15.02.2012,has given assent to all the Terms and
Conditions, Covenants, as provided in the Bank's Sanction Letter(s) including
addendum to original charge and have
executed the related loan document(s)/Agreement(s) through the Director(s),
who have received and signed the
documents in physical form and who have been authorized to file eform-8 for
the modifications in the existing limits and in the nature and scope of the
charge on agreed terms. |
|
Short particulars of the property charged |
All the current assets inclusive of Book
Debts and the maintained at the Registered Office and at the Works of the
Company. The nature of the Charge inclusive of Collateral Security will be in
force as continuation status of the credit facilities extended by the Bank
time to time and hence for all the credit facilities the existing scope of
securities will be continue. For the Immovable Properties and for the
tangible assets the status of the charge will be governed as per details
denoted in the Correction Deed executed between the Member Banks and UBI for
itself. |
|
Particulars of the present
modification |
By present modification, through the
execution of the Correction Deed, the Scope and the nature of securities and
priority claim under UBI Consortium has been correctly spell out which raised
up-to Rs.1958.100 millions. (The Share of UBI: Fund Based Rs.600.000 millions
Non Fund Based: Rs.450.000 millions and Term Loan: Rs.80.900 millions Making
Total Rs.1130.900 millions. The Share of Corporation Bank: Fund Based
Rs.320.000 millions Non Fund Based: 250.000 millions. And Term Loan:
Rs.57.200 millions Making Total Rs.627.200 millions and the Share of First
Rand Bank: Fund Based Rs.200.000 millions) |
TRADE REFERENCES:
·
Performance Fibers
·
JSW Steel Limited
·
Ispat Industries Limited
·
Tata Iron and Steel Company Limited
·
Birla Corporation Limited
FIXED ASSETS:
·
Freehold Land
·
Building
·
Plant and Machinery
·
Electrical
Installation
·
Furniture and Fixture
·
Computer
·
Vehicles
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.55.05 |
|
|
1 |
Rs.82.75 |
|
Euro |
1 |
Rs.71.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.