MIRA INFORM REPORT

 

 

Report Date :

04.03.2013

 

IDENTIFICATION DETAILS

 

Name :

SUPER SMELTERS LIMITED

 

 

Registered Office :

‘Premlata’, 39, Shakespeare Sarani, 3rd Floor, Kolkata – 700 017, West Bengal

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012 (Profit & Loss A/c)

 

 

Date of Incorporation :

20.06.1995

 

 

Com. Reg. No.:

21-072223

 

 

Capital Investment / Paid-up Capital :

Rs.460.336 Millions

 

 

CIN No.:

[Company Identification No.]

U27109WB1995PLC072223

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALS07997D

 

 

PAN No.:

[Permanent Account No.]

AAFCS1116F

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Iron and Steel Products.

 

 

No. of Employees :

Not Available

 

 

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 13461000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having a satisfactory track record. The company performance seems to be good.

 

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 conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 30, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INDIAN ECONOMIC OVERVIEW

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Cash Credit: BBB

Rating Explanation

Having moderate degree of safety regarding timely servicing of financial obligation it carry moderate credit risk.

Date

May, 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.

 

LOCATIONS

 

Registered Office :

‘Premlata’, 39, Shakespeare Sarani, 3rd Floor, Kolkata – 700 017, West Bengal, India

Tel. No.:

91-33-22892734/ 35/ 36

Fax No.:

91-33-22892734/ 35/ 36

E-Mail :

secl@supershakti.in

info@supershakti.in

Website :

www.supershakti.in

 

 

Branch Office:

318, Narayan Plaza, Exhibition Road, Patna – 800 001, Bihar, India

Fax No.:

91-612-2231163

 

 

Factory 1 :

Kanjilal Avenue, Opposite DPL Zone, “B” Substation, Durgapur – 713 210, West Bengal, India

Tel. No.:

91-343-2552598/ 3284

 

 

Factory 2 :

Adi Bunglow Road, Telaya Basti, Jhumri Telaya, Koderma – 825 409, Jharkhand, India

Tel. No.:

91-6534-224701/ 02

 

 

Factory 3:

Jamuria Industrial Estate, Rajaram Danga (Aam Bagan), P.O. Ikra, Jamuria, Burdwan – 713 362, West Bengal, India

Tel. No.:

91-341-2455077/ 2456688

 

 

DIRECTORS

 

As on 29.09.2012

 

Name :

Mr. Sitaram Agarwal

Designation :

Chairman and Managing Director

Address :

Geetayan, 18H, Alipore Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

06.08.1950

Qualification :

B. Sc.

Date of Appointment :

01.02.2010

DIN No.:

00343881

PAN No.:

ACQPA1303A

 

 

Name :

Mr. Dilip Agarwal

Designation :

Whole-time director

Address :

Geetayan, 18H, Alipore Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

18.01.1971

Qualification :

B. Com

Date of Appointment :

01.03.2008

DIN No.:

00343856

PAN No.:

AEAPK5325C

 

 

Name :

Mr. Deepak Agarwal

Designation :

Whole-time director

Address :

Geetayan, 18H, Alipore Road, Kolkata – 700 027, West Bengal, India

Date of Birth/Age :

14.07.1973

Qualification :

B. Com

Date of Appointment :

01.03.2008

DIN No.:

00343812

PAN No.:

AAZPK8408R

 

 

Name :

Mr. Nagendra Prasad Sinha

Designation :

Director

Address :

A7, Sangam, 2, Wood Street, Kolkata – 700 016, West Bengal, India

Date of Birth/Age :

26.12.1938

Qualification :

M. Tech., Ph.D

Date of Appointment :

27.03.2000

DIN No.:

01090335

 

 

Name :

Mr. Vijay Kumar Bhandari

Designation :

Director

Address :

1704, Wallace Apartments, 17th Floor, Sleater Road, Grant Road, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

14.10.1943

Qualification :

B. Com (Hons.), F.C.A

Date of Appointment :

26.09.2008

DIN No.:

00052716

 

 

Name :

Mr. Vikram Kumar Agarwal

Designation :

Director

Address :

D3, Kennelan, Napean Sea Road, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

25.06.1982

Qualification :

B. Com (Hons.), F.C.A

Date of Appointment :

29.09.2009

DIN No.:

01930626

 

 

Name :

Mr. Abhijit Datta

Designation :

Director

Address :

110/4, Sarat Ghosh Garden Road, Kamala Park, Dhakuria, Kolkata – 700 031, West Bengal, India

Date of Birth/Age :

01.06.1949

Qualification :

M.A.

Date of Appointment :

30.09.2010

DIN No.:

00790029

 

 

KEY EXECUTIVES

 

Name :

Mr. Subhankar Roychowdhuri

Designation :

Secretary

Address :

110/4, Sarat Ghosh Garden Road., Kamala Park, Dhakuria, Kolkata – 700031, West Bengal, India

Date of Birth/Age :

04.11.1954

Date of Appointment :

01.04.2008

PAN No.:

ADIPR0701Q

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2012

 

Names of Shareholders

 

 

No. of Shares

Deepak Agarwal

 

199500

Dilip Agarwal

 

40500

Sabita Agarwal

 

85750

Sitaram Agarwal (HUF)

 

922500

Priti Agarwal

 

8000

Vibha Agarwal

 

8000

Sajjan Kumar Kedia

 

8000

Vikash Rungta

 

1600

Sitaram Agarwal

 

425400

Veerbhadra Sales Private Limited, India

 

12906650

Skoda Trexim Private Limited, India

 

14136660

Rocky Datamatics Private Limited, India

 

14279000

Khandelwal Finance Private Limited, India

 

5609500

Crawford Plantations Private Limited, India

 

11279500

Total

 

59910560

 

As on 22.12.2012

 

Names of Allottees

 

 

No. of Shares

Rocky Datamatics Private Limited, India

 

2300000

Skoda Trexim Private Limited, India

 

2200000

Veerbhadra Sales Private Limited, India

 

2000000

Crawford Plantations Private Limited, India

 

500000

Total

 

7000000

 

As on 29.09.2012

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Bodies corporate

 

97.16

Directors or relatives of directors

 

1.28

Other top fifty shareholders

 

1.56

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Iron and Steel Products.

 

 

Products :

ITC Code

Product Description

 

26011140

Iron Ore Fines

27011200

Coal

72011000

Pig Iron

72023000

Silico Manganese

72022100

Ferro Silicon

72031000

Sponge Iron

72044900

Riser

72061090

Ingot

72071920

Billet

72083730

G.C. Sheet

72081000

M.S. Plate

72111410

M.S. Flat

72111410

Steel Flat

72111410

Steel Round

72139190

Wire Rod

72131090

M.S. Round

72131090

M.S. Wire

72141090

TMT Bar

72165000

Angle

72163200

Channel

72165000

Channel

72165000

M.S. Angle

72163200

M.S. Channel

72171010

H.B. Wire

72171000

G.I. Wire

73041190

M.S. Pipe

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Unit

Installed Capacity

Actual Production*

Steel Rolled Products

(MT)

216,000

112,321

Steel Billets

(MT)

178,028

90,461

M.S. Ingot

(MT)

63,360

38,300

Sponge Iron

(MT)

60,000

40,907

Total

 

517,388

281,990

 

* Not including production of process scrap of 3971 Mt, which has been consumed internally.

 

The Installed Capacity, being a technical matter, is certified by the management and the Licensed Capacity is not given as licensing is not applicable.

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

·         Bank of Baroda, India Exchange Branch, 4, India Exchange Place, Kolkata – 700 001, West Bengal, India

·         Indian Overseas Bank (Leader of Consortium Comprising IOB - Union Bank of India - Dena Bank), Ballygunge Park Road Branch, 22, Ballygunge Park Road, Kolkata – 700 019, West Bengal, India

·         Bank of India (Leader of Consortium), Kolkata Large Corporate Branch, 5, B.T.M. Sarani,, Kolkata – 700 001, West Bengal, India

 

 

Facilities :

Secured Loans

31.03.2011

31.03.2010

 

 

(Rs. In Millions)

Rupee term loans banks secured

1677.443

669.540

Foreign currency loans banks secured

98.522

99.548

Working capital loans banks secured

1064.321

955.693

Working capital loans others secured

(A) 27.490

0.000

Other debt secured

(B) 11.330

(C) 23.016

Interest accrued due other debt secured

18.577

5.695

Total

2897.683

1753.492

 

Note:

(A) it includes buyer credit from banks.

(B) It includes: Other Loans from Banks and NBFCs 11.330 millions;

(C) It includes: Other Loans from Banks and NBFCs 13.911 millions : Buyers Credit From Banks 9.106 millions

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Singhi and Company

Chartered Accountants

Address :

1B ,Old Post Office Street, Kolkata – 700 001, West Bengal, India

Income-tax PAN of auditor or auditor's firm :

ADYPD2146R

 

 

Subsidiary (As on 31.03.2011) :

Sai Sponge (India) Limited (CIN No.:U27100WB2002PLC099644)

 

 

Enterprises over which key management personnel and their relatives exercise significant influence and control - Others (As on 31.03.2011) :

·         Sai Iron (India) Limited (CIN No.:U27100WB1991PLC099643)

·         Rocky Datamatics Private Limited (CIN No.: U72900WB1994PTC062761)

·         Skoda Trexim Private Limited (CIN No.: U51109WB1994PTC062203)

·         Veerbhadra Sales Private Limited (CIN No.: U51109WB1995PTC070525)

·         Khandelwal Finance Private Limited (CIN No.: U67120WB1991PTC053666)

·         Crawford Plantation Private Limited (CIN No.: U51109WB1995PTC069605)

·         Promotional Equity Services Private Limited (CIN No.: U74140WB1995PTC067618)

·         Golcha Commodities Private Limited (CIN No.: U51109WB1996PTC079186)

·         Sai Highrise Private Limited (CIN No.: U70101WB2005PTC102238)

 

 

CAPITAL STRUCTURE

 

After 29.09.2012

 

Authorised Capital : Rs.750.000 Millions

 

Issued, Subscribed & Paid-up Capital : Rs.606.106 Millions

 

As on 29.09.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

75000000

Equity Shares

Rs.10/- each

Rs.750.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

59910560

Equity Shares

Rs.10/- each

Rs.599.106 Millions

 

 

 

 

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

35000000

Equity Shares

Rs.10/- each

Rs.350.000 Millions

1500000

Preference Shares

Rs.100/- each

Rs.150.000 Millions

 

Total

 

Rs.500.000 Millions

 

 

 

 

 

Issued :

No. of Shares

Type

Value

Amount

31902560

Equity Shares

Rs.10/- each

Rs.319.026 Millions

1500000

Preference Shares

Rs.100/- each

Rs.150.000 Millions

 

Total

 

Rs.469.026 Millions

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

31902560

Equity Shares

Rs.10/- each

Rs.319.026 Millions

1413100

Preference Shares

Rs.100/- each

Rs.141.310 Millions

 

Total

 

Rs.460.336 Millions

 

Out of the above 3419850 Equity Shares of Rs.10/- each are fully paid up for consideration other than cash pursuant to the Scheme of Amalgamation


 

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

 

460.336

388.446

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

2904.826

2125.121

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

3365.162

2513.567

LOAN FUNDS

 

 

 

1] Secured Loans

 

2897.683

1753.492

2] Unsecured Loans

 

0.000

1.484

TOTAL BORROWING

 

2897.683

1754.976

DEFERRED TAX LIABILITIES

 

135.052

119.116

 

 

 

 

TOTAL

 

6397.897

4387.659

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

1504.651

1559.198

Capital work-in-progress

 

2793.356

1171.801

 

 

 

 

INVESTMENT

 

101.178

101.178

DEFERRED TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 
1417.172

1001.623

 

Sundry Debtors
 
1867.463

908.489

 

Cash & Bank Balances
 
138.443

134.805

 

Other Current Assets
 
0.524

0.739

 

Loans & Advances
 
598.582

514.641

Total Current Assets
 
4022.184

2560.297

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 
1104.476

622.136

 

Other Current Liabilities
 
777.678

286.154

 

Provisions
 
141.318

96.525

Total Current Liabilities
 
2023.472

1004.815

Net Current Assets
 
1998.712

1555.482

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

6397.897

4387.659

 

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

9748.759

8126.178

6811.078

 

 

Other Income

12.109

12.158

5.200

 

 

TOTAL                                     (A)

9760.868

8138.336

6816.278

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of materials consumed

4491.322

3999.500

6384.224

 

 

Purchases of stock-in-trade

3482.683

2767.998

 

 

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(494.883)

(164.752)

 

 

 

Employee benefit expense

78.474

66.064

 

 

 

Other expenses

1364.878

926.999

 

 

 

TOTAL                                     (B)

8922.474

7595.809

6384.224

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

838.394

542.527

432.054

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

395.758

205.146

153.979

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

442.636

337.381

278.075

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

224.729

135.521

118.672

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

217.907

201.860

159.403

 

 

 

 

 

Less

TAX                                                                  (H)

67.433

69.164

53.882

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

150.474

132.696

105.521

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

457.092

324.396

218.875

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

NA

457.092

324.396

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

NA

45.413

0.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.31

4.16

3.31

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)
1.54

1.63

1.55

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
2.24

2.48

2.34

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
NA

3.65

3.87

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
NA

0.06

0.06

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
NA

0.86

0.70

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
NA

1.99

2.55

 

 

LOCAL AGENCY FURTHER INFORMATION

 

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)

No

21) Market information

--

22) Litigations that the firm / promoter involved in

--

23) Banking Details

Yes

24) Banking facility details

Yes

25) Conduct of the banking account

--

26) Buyer visit details

--

27) Financials, if provided

Yes

28) Incorporation details, if applicable

Yes

29) Last accounts filed at ROC

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

Yes

33) Voter ID No of Proprietor/Partner/Director, if available

No

34) External Agency Rating, if available

Yes

 

 


Unsecured Loans

31.03.2011

31.03.2010

 

 

(Rs. In Millions)

Other debt unsecured

{From Body Corporate (Payable within one year Rs. Nil (P.Y: Rs.1.484 millions)]

0.000

1.484

Total

0.000

1.484

 

Bankers Charges Report as per Registry

 

Corporate identity number of the company

U27109WB1995PLC072223

Name of the company

SUPER SMELTERS LIMITED

Address of the registered office or of the principal place of  business in India of the company

39, Shakespeare Sarani, 3rd Floor, Kolkata – 700 017, West Bengal, India

E-Mail: secl@supershakti.in

This form is for

Modification of charge

Charge identification number of the modified 

10354665

Type of charge

Immovable Property

Book Debts

Movable Property (not being pledge)

Particular of charge holder

Bank of India (Leader of Consortium), Kolkata Large Corporate Branch, 5, B.T.M. Sarani,, Kolkata – 700 001, West Bengal, India

E-Mail: LCB.Kolkata@bankofindia.co.in

Nature of description of the instrument creating or modifying the charge

Letter of Consent No. REP:ADV:75:INDIAE:2012-13/ dated 01.02.2013 of Bank of Baroda addressed to Bank of India for creation of Second Pari Passu Charge in favour of Working Capital Consortium of Bankers of Jamuria Unit on 14 Nos. Title Deeds pursuant to Memorandum of Entry dated 29.12.2012 in favour of Bank of Baroda

Date of instrument Creating the charge

01.02.2013

Amount secured by the charge

Rs.1601.900 millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest:

CC: BOI BR (Presently 10.75%) + 2.75%;  p.a.; SBH BR (10.5%) + 3%; UBI BR (10.75%) + 2.75%; CB BR (10.75%) + 2.75%; SBI BR (10.00%) + 3.50%; BOB BR (10.75%) + 2.75%; LC, Buyers' Credit, etc 50% charge

 

Terms of Repayment:

Repayable on demand.

 

Margin:

25% for Stocks (including advances) and book debts and 10% for non-funded limit

 

Extent and Operation of the charge:

1st Charge on entire current assets comprising Stock-in-Trade, Book-Debts, Receivables and other movables of Jamuria Unit of the Company, both present and future, in favour of the Lenders under consortium without any preference or priority over the others.

 

2nd Charge on entire fixed assets, including immovable properties, of Jamuria Unit of the Company, both present and future, in favour of the Lenders under consortium without any preference or priority over the others.

Short particulars of the property charged

The Whole of the Current Assets of the borrower namely stock of raw materials, stock in process, semi finished and finished goods, stores and spares not relating to plant and machinery, (Consumable stores and spares), bills receivables and book debts and all other movable both present and future or about the borrowers factories, premises and godowns at Various Project sites at Unit - III at Jamuria Industrial Estates, Rajaram Danga (Aam Bagam), P.O. Ikra, Jamuria, District Burdwan, in the State of West Bengal, Pin - 713 362 as First Pari Passu charge in favour of WC Lenders of Jamuria Unit without any preference or priority over others and 2nd pari passu charge on all present and future movable and immovable properties of Jamuria unit of the Company situated at above address in favour of WC tenders of Jamuria unit without any preference or priority over others.

Date of latest modification prior to the present modification

18.05.2012

Particulars of the present modification 

By present modification, overall limit of participating banks remained unchanged at Rs.1601.900 millions. However, over and above the existing second charge on specific landed properties of 10416.32 decimal (104.16 Acres) under J L No. 37 at Mouza- Mandalpur, Police Station - Jamuria, Sub-Registry Office - Ranigung, Chowki-Asansol, District-Burdwan, West Bengal, second charge is further extended on additional 916 decimal (9.16) Acres under J L No. 37 and 34 at above Mouza by this modification.

 

 

 

FIXED ASSETS:

 

·         Plant and Machinery

·         Motor vehicles

·         Weigh Bridge

·         Office Equipment

·         Computer and Peripherals

·         Furniture and Fixture

·         Cycles

·         Factory Building and Shed

·         Leasehold Land and Site Development

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.54.48

UK Pound

1

Rs.82.72

Euro

1

Rs.71.27 

 

 

INFORMATION DETAILS

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--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

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.