Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
MODICON PRIVATE
LIMITED |
Principal Name 1 |
Mr. Sanwarmal Madanlal Mody |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Prakash Chandra Mohanlal Modi |
|
|
|
Registration # |
11-032895 |
|
Street Address |
35, Nariman Bhavan. 227, Nariman Point, Mumbai-400021, Maharashtra |
||
|
Established Date |
16.05.1984 |
SIC Code |
-- |
|
Telephone# |
91-22-22825464 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-22825463 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Silver Alloy Contact |
|
|
# of employees |
Not Available |
Product Name 2 |
Silver Brazing Alloy |
|
Paid up capital |
Rs. 4,658,000/- |
Product Name 3 |
Pure Copper Contact |
|
Shareholders |
Directors or relatives of Directors – 100% |
Banking |
Bank of India |
|
Public Limited Corp. |
No |
Business Period |
29 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Parties |
India
|
Modison Metals
Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
70,259,000 |
Current Liabilities |
23,953,000 |
|
Inventories |
306,936,000 |
Long-term Liabilities |
352,231,000 |
|
Fixed Assets |
171,307,000 |
Other Liabilities |
18,253,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
394,437,000 |
|
Invest& other Assets |
12,194,000 |
Retained Earnings |
161,601,000 |
|
|
|
Net Worth |
166,259,000 |
|
Total Assets |
560,696,000 |
Total Liab. & Equity |
560,696,000 |
|
Total Assets (Previous Year) |
455,739,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
51,962,000 |
|
Sales(Previous yr) (Total Income) |
922,373,000 |
Net Profit(Prev.yr) |
40,684,000 |
MIRA
INFORM REPORT
|
Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MODICON PRIVATE LIMITED (w.e.f. 15.09.2010) |
|
|
|
|
Formerly Known
As : |
MODISON PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
35, Nariman Bhavan. 227, Nariman Point, Mumbai-400021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.05.1984 |
|
|
|
|
Com. Reg. No.: |
11-032895 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.658 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1984PTC032895 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19325F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM7452R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The subject is engaged in manufacturing products namely
Electrical Contact, Brazing Alloys and also engaged in refining of Silver. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 660000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitments. 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 |
CARE |
|
Rating |
BBB- (Long Term Bank Facilities) |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation. It carry moderate credit risk. |
|
Date |
January 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.
LOCATIONS
|
Registered Office : |
35, Nariman Bhavan. 227, Nariman Point, Mumbai-400021, Maharashtra,
India |
|
Tel. No.: |
91-22-22825464 / 65 |
|
Fax No.: |
91-22-22825463 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales and Works : |
D 40/2, TTC Industrial Area, MIDC, Trubhe, Navi Mumbai-400705,
Maharashtra, India |
|
Tel. No.: |
91-22-27672445 / 45 /46 |
|
Fax No.: |
91-22-27672447 |
DIRECTORS
AS ON 31.08.2012
|
Name : |
Mr. Sanwarmal Madanlal Mody |
|
Designation : |
Whole Time Director |
|
Address : |
74, Dariya Mahal, A, 80, Nepean Sea Road, Mumbai-400006, Maharashtra,
India |
|
Date of Birth/Age : |
25.09.1938 |
|
Date of Appointment : |
16.05.1984 |
|
PAN No.: |
AAIPM2759G |
|
DIN No.: |
00027403 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24110MH1978PTC020111 |
MODISON
PRIVATE LIMITED |
Director |
23/02/1978 |
23/02/1978 |
- |
Active |
NO |
|
2 |
U24110MH1984PTC032895 |
MODICON
PRIVATE LIMITED |
Whole-time
director |
16/05/1984 |
16/05/1984 |
- |
Active |
NO |
|
3 |
L51900MH1983PLC029783 |
MODISON
METALS LIMITED |
Director |
09/06/1998 |
09/06/1998 |
06/10/2010 |
Active |
NO |
|
4 |
U26912MH1982PTC027005 |
MODISON
CONTACTS PRIVATE LIMITED |
Director |
04/03/2002 |
04/03/2002 |
27/03/2012 |
Active |
NO |
|
5 |
U27201MH2006PTC160394 |
MODISON
COPPER PRIVATE LIMITED |
Director |
09/03/2006 |
09/03/2006 |
06/10/2010 |
Active |
NO |
|
6 |
U28112MH2009PTC191799 |
DISHAH
INNOVATIVE SOLUTIONS PRIVATE LIMITED |
Director |
18/04/2009 |
18/04/2009 |
29/10/2010 |
Active |
NO |
|
Name : |
Mr. Prakash Chandra Mohanlal Modi |
|
Designation : |
Director |
|
Address : |
76, Dariya Mahal, A, 80, Nepean Sea Road, Mumbai-400006, Maharashtra,
India |
|
Date of Birth/Age : |
30.06.1963 |
|
Date of Appointment : |
16.05.1984 |
|
PAN No.: |
AAOPM775IJ |
|
DIN No.: |
00027190 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24110MH1984PTC032895 |
MODICON
PRIVATE LIMITED |
Director |
16/05/1984 |
16/05/1984 |
- |
Active |
NO |
|
2 |
U26912MH1982PTC027005 |
MODISON
CONTACTS PRIVATE LIMITED |
Director |
04/03/2002 |
04/03/2002 |
27/03/2012 |
Active |
NO |
|
3 |
U27201MH2006PTC160394 |
MODISON
COPPER PRIVATE LIMITED |
Director |
09/03/2006 |
09/03/2006 |
- |
Active |
NO |
|
4 |
U28112MH2009PTC191799 |
DISHAH
INNOVATIVE SOLUTIONS PRIVATE LIMITED |
Director |
18/04/2009 |
18/04/2009 |
- |
Active |
NO |
|
Name : |
Mr. Anandkumar Sanwarmal Modi |
|
Designation : |
Whole Time Director |
|
Address : |
74, Dariya Mahal, A, 80, Nepean Sea Road, Mumbai-400006, Maharashtra,
India |
|
Date of Birth/Age : |
02.06.1976 |
|
Date of Appointment : |
01.11.2001 |
|
PAN No.: |
AAIPM2772K |
|
DIN No.: |
00059353 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24110MH1984PTC032895 |
MODICON
PRIVATE LIMITED |
Whole-time
director |
01/11/2001 |
01/11/2001 |
- |
Active |
NO |
|
2 |
U27201MH2006PTC160394 |
MODISON
COPPER PRIVATE LIMITED |
Director |
02/06/2006 |
02/06/2006 |
06/10/2010 |
Active |
NO |
|
Name : |
Mr. Amitkumar Sanwarmal Modi |
|
Designation : |
Whole Time Director |
|
Address : |
74, Dariya Mahal, A, 80, Nepean Sea Road, Mumbai-400006, Maharashtra,
India |
|
Date of Birth/Age : |
12.08.1980 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AGQPM7701C |
|
DIN No.: |
05260907 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24110MH1984PTC032895 |
MODICON
PRIVATE LIMITED |
Whole-time
director |
31/08/2012 |
01/04/2012 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.08.2012
|
Names of Shareholders |
No. of Shares |
|
Sanwarmal Madanlal Mody |
35260 |
|
Kashiprasad M Modi |
750 |
|
Prakash Chandra Mohanlal Modi |
10274 |
|
Amitkumar Sanwarmal Modi |
150 |
|
Anandkumar Sanwarmal Modi |
150 |
|
TOTAL
|
46584 |
AS ON 31.08.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged in manufacturing products namely
Electrical Contact, Brazing Alloys and also engaged in refining of Silver. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Install
Capacity |
|
Electrical Contacts |
MT |
30 |
|
|
|
|
|
Silver Bullion |
MT |
40 |
|
|
|
|
|
Silver Solders and Brazing Alloys |
MT |
12 |
Licenced capacity is not applicable as the industry has been
delicenced.
# installed capacity is as certified by management and
relied upon the Auditors.
|
Particulars |
Unit |
Production |
|
Electrical Contacts |
PCS |
80553317 |
|
|
KGS |
17793.611 |
|
Silver Bullion |
PCS |
60 |
|
|
KGS |
1732.184 |
|
Silver Solders and Brazing Alloys |
PCS |
445774 |
|
|
KGS |
864.971 |
Production Done on Job Work Basis
|
Particulars |
Unit |
Production |
|
Electrical Contacts |
KGS |
2334.234 |
|
|
|
|
|
Silver Bullion |
PCS |
66860 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Bank of India, Nariman Point Branch, Air India Building,
Mumbai-400021, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. L. Bhuwania
and Company Chartered Accountant |
|
Address : |
F-11, 3rd Floor,
Manek Mahal,90, Veer Nariman Road, Churchgate, Mumbai, Maharashtra, India |
|
PAN No.: |
AAAFM1380R |
|
|
|
|
Related Parties : |
Modison Metals
Limited L51900MH1983PLC029783 Modison Copper
Private Limited U27201MH2006PTC160394 Dishah
Innovative Solutions Private Limited U28112MH2009PTC191799 ·
Modi Son Engineering Private Limited ·
Modison ·
Modi Son International |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000 |
Equity Shares |
Rs.100/- each |
Rs. 6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46584 |
Equity Shares |
Rs.100/-
each |
Rs. 4.658
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.658 |
4.658 |
4.658 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
161.601 |
110.254 |
70.667 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
166.259 |
114.912 |
75.325 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
183.646 |
54.787 |
32.464 |
|
|
2] Unsecured Loans |
168.585 |
235.076 |
205.673 |
|
|
TOTAL BORROWING |
352.231 |
289.863 |
238.137 |
|
|
DEFERRED TAX LIABILITIES |
17.283 |
17.380 |
18.470 |
|
|
|
|
|
|
|
|
TOTAL |
535.773 |
422.155 |
331.932 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
171.307 |
165.504 |
163.812 |
|
|
Capital work-in-progress |
3.865 |
0.564 |
5.191 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.329 |
8.426 |
8.425 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
306.936
|
207.329 |
128.472 |
|
|
Sundry Debtors |
53.342
|
61.986 |
38.008 |
|
|
Cash & Bank Balances |
2.472
|
1.295 |
0.884 |
|
|
Other Current Assets |
0.453
|
0.353 |
0.605 |
|
|
Loans & Advances |
13.992
|
10.282 |
59.834 |
|
Total
Current Assets |
377.195
|
281.245 |
227.803 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.367
|
3.488 |
2.262 |
|
|
Other Current Liabilities |
22.586
|
29.672 |
10.980 |
|
|
Provisions |
0.970
|
0.424 |
60.057 |
|
Total
Current Liabilities |
24.923
|
33.584 |
73.299 |
|
|
Net Current Assets |
352.272
|
247.661 |
154.504 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
535.773 |
422.155 |
331.932 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
913.296 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
922.373 |
913.296 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
844.611 |
679.523 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
844.611 |
679.523 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
93.796 |
77.762 |
[Including Depreciation] |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.023 |
16.559 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
76.773 |
61.203 |
233.773 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
24.811 |
20.519 |
61.853 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
51.962 |
40.684 |
171.920 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
71.173 |
34.557 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
4.068 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
123.135 |
71.173 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
75.649 |
79.857 |
56.552 |
|
|
TOTAL EARNINGS |
75.649 |
79.857 |
56.552 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
5.252 |
3.591 |
|
|
|
Stores & Spares |
15.167 |
0.545 |
0.276 |
|
|
|
Capital Goods |
|
5.628 |
4.206 |
|
|
TOTAL IMPORTS |
15.167 |
11.425 |
8.073 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1115.45 |
873.35 |
3689.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
4.41 |
18.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.00
|
13.70 |
59.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46
|
0.53 |
3.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.12
|
2.52 |
3.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
15.13
|
8.37 |
3.11 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Loans and Advances from Directors
|
168.585 |
235.076 |
|
|
|
|
|
TOTAL |
168.585 |
235.076 |
NOTE
Registered office has been shifted from 33, Nariman Bhavan. 227, Nariman
Point, Mumbai-400021, Maharashtra, India to the present address w.e.f.
04.10.2010
FORM 8
|
Corporate
identity number of the company |
U24110MH1984PTC032895 |
|
Name of the company
|
MODICON PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
35, Nariman Bhavan. 227, Nariman Point, Mumbai-400021, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification number of the charge to be modified |
90215245 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
Bank of India, Nariman Point Branch, Air India Building, Mumbai-400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation. |
|
Date of
instrument Creating the charge |
08.02.2012 |
|
Amount secured by
the charge |
Rs. 260.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest at 2.25%
over Base Rate presently 13% p.a. Terms of repayment On Demand. Margin CC Stocks :
Silver - 10%, Other - 25%, EPC -10%, CC - 30%, Inland BP/BD -10%,
Foreign LC DP and
Import LC DA 180 days/Buyers Credit - 12% by way of TDR, Inland Guarantee
: Financial -15% and other -10% Extent and operation of the charge Hypothecation of first
charge on tangible movable properties, book debts, Plant and Machinery etc,
for the due payment of Rs.260.000 Millions, including the interest/commission, costs charges and expenses and all other moneys, whatsoever due owing
and payable by the Company to the Bank. |
|
Short particulars
of the property charged (Including location of the property) |
All tangible
movable machineries and plant, both present and future whether installed or
not and whether lying loose or in cases at site or in transit All tangible
movable properties and assets of whatsoever nature (other than movable and
uninstalled machines) of the Borrower (both present and future) All the present
and future book-debts, outstanding, money receivables, claims, bills which
are not due and owing or which may at any time hereafter during the |
|
Date of
instrument modifying the charge |
08.04.2011 |
|
Particulars of
the present modification |
The charge shall
now stand increased from Rs.140.000 Millions to Rs.260.000 Millions in favour
of the Bank against the security of tangible movable properties, book debts,
Plant and Machinery etc. of the Company. |
FIXED ASSETS
·
Leasehold Land
·
Residential Flat
·
Factory Building
·
Office Premises
·
Plant and Machinery
·
Electric Installation
·
Telephone and Fax
Instruments
·
Air Conditioners
·
Water Coolers
·
Office and Lab Equipments
·
Computer
·
Vehicles
·
Furniture and Fixture
·
Tools and Moulds
·
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. 54.70 |
|
|
1 |
Rs. 82.78 |
|
Euro |
1 |
Rs. 71.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.