MIRA
INFORM REPORT
|
Report Date : |
08.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ACG ASSOCIATED CAPSULES PRIVATE LIMITED (w.e.f. 24.06.1985) |
|
|
|
|
Formerly Known
As : |
ASSOCIATED CAPSULES
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
131, Kandivali Industrial Esate, Kandivali (West), Mumbai – 400067, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.07.1961 |
|
|
|
|
Com. Reg. No.: |
11-012061 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.691 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1961PTC012061 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA18885G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4769K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Empty Hard Gelatin Capsules. |
|
|
|
|
No. of Employees
: |
2500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 22000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record. Financial position of the company appears to be sound and healthy.
Performance capability of the company is high. Trade relations are reported as trustworthy. Business is active.
Payment terms are reported regular and as per commitment. The company can be considered good for 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.
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 |
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. Krishnan |
|
Designation : |
General Manager |
|
Contact No.: |
91-22-22872557 |
|
Date : |
07.03.2013 |
LOCATIONS
|
Registered Office : |
131, Kandivli
Industrial Estate, Kandivli (West), Mumbai - 400067, Maharashtra, India |
|
Tel. No.: |
91-22-28682010 (9
Lines)/ 28683268/ 30700118/ 19/ 30700105 |
|
Fax No.: |
91-22-28686152/
28682514/ 28684515/ 28603164 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4933 sq. mtrs. |
|
Location : |
Owned |
|
|
|
|
Corporate Headquarters : |
10th
Floor, Dalamal House, Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-22872557/
58/ 59/ 22880461/ 2/ 3/ 22856666 |
|
Fax No.: |
91-22-22872560 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Scitech Centre 7,
Prabhat Nagar, Patel Estate, Jogeshwari (West), Mumbai – 400 102, |
|
Tel. No.: |
91-22-26789642/
43-45 |
|
|
|
|
Factory 1 : |
Village
Shindewadi, Shirwal, Taluka Khandala, District Satara, |
|
|
|
|
Factory 2 : |
Village Aswe,
Ashagadh, |
|
|
|
|
Factory 3 : |
Gat 222, Village
Mahalunge Talegaon, |
|
|
|
|
Regional Office : |
310, |
|
Tel. No.: |
91-120-4310072 |
|
Fax No.: |
91-120-4310073 |
|
|
|
|
Overseas Office : |
Located at: · Brazil · China · Croatia · Indonesia · UK ·
USA |
DIRECTORS
As on: 08.08.2012
|
Name : |
Mr. Ajit Daljit
Singh |
|
Designation : |
Whole Time
Director |
|
Address : |
1-A, Brighton, Rungta Lane, Nepeansea Road, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
20.11.1941 |
|
Qualification : |
M.A. (CANTAB) and Post Graduation Work at the Harvvard |
|
Date of Appointment : |
01.04.2005 |
|
DIN No : |
00915347 |
|
|
|
|
Name : |
Mr. Jasjit Daljit
Singh |
|
Designation : |
Managing Director |
|
Address : |
2-B, Swapnalok, L.J. Marg, Nepeansea Road, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
03.04.1943 |
|
Qualification : |
BE, Mechanical |
|
Date of Appointment : |
01.04.2005 |
|
DIN No : |
00901470 |
|
|
|
|
Name : |
Mr. Karan Jasjit Singh |
|
Designation : |
Director |
|
Address : |
2-B, Swapnalok, L.J. Marg, Nepeansea Road, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
23.07.1979 |
|
Qualification : |
Graduate from |
|
Date of Appointment : |
01.04.2005 |
|
DIN No : |
00901342 |
|
|
|
|
Name : |
Mr. Jagmohanlal Chamanlal Chopra |
|
Designation : |
Additional Director |
|
Address : |
4th Floor, 42, Tower B, Jollymaker, A 95-97, |
|
Date of Birth/Age : |
17.11.1933 |
|
Date of Appointment : |
01.10.2006 |
|
PAN NO.: |
AEUPC4881P |
|
DIN No : |
00901556 |
KEY EXECUTIVES
|
Name : |
Mr. Krishnan |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 08.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jasjit Daljit Singh and Kavita Daljit Singh |
|
244333 |
|
Vijay Kuverba |
|
18000 |
|
Jasjit Singh HUF |
|
12765 |
|
Orind Estates Private Limited, India |
|
580520 |
|
Kavita Singh and Jasjit Singh |
|
3780 |
|
Nandini Singh Jasjit Singh and Kavita Singh |
|
1980 |
|
Singh Family Trust, India |
|
180 |
|
Sardr Daljit Singh (HUF) |
|
5580 |
|
MNT Willtrust, India |
|
180 |
|
Ajit
Daljit Singh and Jasjit Daljit Singh |
|
266998 |
|
Priya
Singh Jasjit Singh and Kavita Singh |
|
1980 |
|
Karan
Singh, Jasjit Singh and Kavita Singh |
|
1980 |
|
|
|
|
|
Total |
|
1138276 |
Equity Share Break up (Percentage of Total Equity)
As on: 08.08.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
51.00 |
|
Directors or relatives of directors |
|
47.42 |
|
Others |
|
1.58 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Empty Hard Gelatin Capsules. |
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Products : |
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Exports : |
|
||||||||||
|
Products : |
·
Empty Hard Gelatin Capsules |
||||||||||
|
Countries : |
·
Middle East ·
South Africa ·
Gulf Country ·
Asian Country ·
US ·
UK ·
Europe |
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|
|
||||||||||
|
Imports : |
|
||||||||||
|
Products : |
·
Raw Materials |
||||||||||
|
Countries : |
·
China ·
Europe ·
Taiwan ·
Thailand ·
Malaysia ·
USA ·
Korea ·
Indonesia |
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cash |
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|
||||||||||
|
Purchasing : |
Cash |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Empty Hard
Gelatin Capsules shells and HPMC Capsules (In Million Nos.) |
48325 |
43753 |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
|||||||||||||||
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|
|||||||||||||||
|
No. of Employees : |
2500 (Approximately) |
|||||||||||||||
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|
|
|||||||||||||||
|
Bankers : |
· Standard Chartered Bank (acting as Lead Bank for itself and on behalf of BOI and SBI), 90, M.G. Road, Fort, Mumbai – 400 001, Maharashtra, India · Bank of India · State Bank of India, Virani Industrial Estate, Goregaon (East), Mumbai – 400050, Maharashtra, India · ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda – 390 015, Gujarat, India · ANZ Grindlays Bank Limited, 90, M.G. Road, Mumbai – 400001, Maharashtra, India · ABN Amro Bank · Citi Bank · Standard Chartered Bank, 19, Rajaji Salai, Chennai – 600001, Tamilnadu, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.J. Shah and
Company Chartered
Accountants |
|
Address : |
|
|
Tel. No.: |
91-22-22650834/ 22671269 |
|
Fax No.: |
91-22-22657122 |
|
PAN No : |
AAAFA3818L |
|
|
|
|
Holding Company
(As on: 31.03.2012) : |
Orind Estates Private Limited, CIN No.:
U70102MH2010PTC198368 |
|
|
|
|
Wholly Owned
Subsidiaries (As on: 31.03.2012) : |
·
ACG Europe Limited ·
ACG Holding B.V., Netherlands |
|
|
|
|
Fellow
Subsidiary (As on: 31.03.2012) : |
ACG Lukaps D.O.O., |
|
|
|
|
Jointly Controlled
Enterprise Subsidiaries (As on: 31.03.2012) :
|
·
ACG Hongkong Limited, ·
ACG DO Brazil Representacoes Commercials S/A ·
EH Advisors and Consultants Private Limited
(Formerly Extra Hands) |
|
|
|
|
Companies / Firms
over which the Directors have significant influence or control (As on:
31.03.2012) : |
Companies ·
ACG Arts and Properties Private Limited ·
ACG Pharmapack Private Limited ·
Custom Capsules Private Limited ·
ACG Real Estate Private Limited (formerly Trambak
Developers Private Limited) ·
ACG Inspection Systems Private Limited ·
ACG Pampac Machines Private Limited ·
ACG Pam Pharma Technologies Private Limited ·
ACG Korsch Compression Technologies Private
Limited ·
Pam Glatt Pharma Technologies Private Limited ·
Pam Inteck Machines Private Limited ·
Scitech Centre ·
ACG Ajas Components Private Limited ·
Nepean Holdings Reality LLP (Formerly Nepean
Holdings Private Limited) Foreign
Companies ·
PT. Universal Capsules Indonesia INC ·
ACG North America LLC ·
Universal Capsules Philippines Inc ·
Amiricaps USA ·
Symtech International Limited, Dubai ·
First Ventures Limited, Dubai ·
Transworld Investments Limited, Dubai Firms ·
Amil Enterprises (Converted to Subsidiary
company, AE Advisors Private Limited) ·
Aries Components Mfg and Company ·
Bulk Buyers ·
Capsulabs ·
Centercops ·
Extra Hands (converted to subsidiary company EH
Advisors and Consultants Private Limited) ·
Pharmagents ·
Reflection |
CAPITAL STRUCTURE
As on: 08.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2400000 |
Equity Shares |
Rs.5/- each |
Rs.12.000
Millions |
|
30000 |
Preference Shares
|
Rs.100/- each |
Rs.3.000 Millions
|
|
|
|
|
|
|
|
Total |
|
Rs.15.000
Millions |
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1138276 |
Equity Shares |
Rs.5/- each |
Rs.5.691 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 |
5.691 |
5.691 |
7.861 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
2] Reserves & Surplus |
5514.093 |
4583.905 |
3735.981 |
|
|
2] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
5519.784 |
4589.596 |
3743.842 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1035.611 |
216.272 |
143.642 |
|
|
2] Unsecured Loans |
2198.316 |
913.426 |
638.817 |
|
TOTAL BORROWING
|
3233.927 |
1129.698 |
782.459 |
|
|
DEFERRED TAX
LIABILITIES |
48.465 |
23.080 |
33.474 |
|
|
|
|
|
|
|
TOTAL
|
8802.176 |
5742.374 |
4559.775 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1490.990 |
733.044 |
644.306 |
|
|
Capital work-in-progress |
0.000 |
410.521 |
86.484 |
|
|
|
|
|
|
|
|
INVESTMENTS |
3992.901 |
2061.008 |
1762.796 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
256.171
|
218.162 |
|
|
Sundry Debtors |
|
958.009
|
911.792 |
|
|
Cash & Bank Balances |
|
58.139
|
77.746 |
|
|
Other Current Assets |
|
103.979
|
73.054 |
|
|
Loans & Advances |
|
4121.526
|
3159.311 |
|
Total
Current Assets |
|
5497.824
|
4440.065 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
198.115
|
165.242 |
|
|
Other Current Liabilities |
|
596.268
|
421.459 |
|
|
Provisions |
|
2166.603
|
1789.100 |
|
Total
Current Liabilities |
|
2960.986
|
2375.801 |
|
|
Net Current Assets |
3318.285
|
2536.838
|
2064.264 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.963 |
1.925 |
|
|
|
|
|
|
|
|
TOTAL |
8802.176 |
5742.374 |
4559.775 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
4240.352 (Turnover Gross) |
3712.422 (Turnover Gross) |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
5255.089 |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
3833.195 |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1421.894 |
1200.661 |
1101.159 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
477.085 |
365.162 |
342.282 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
944.809 |
835.499 |
758.877 |
|
|
|
|
|
|
|
|
|
Add/ Less) |
Prior Years' Adjustments / Excess (Short) Provision for Tax |
|
13.817 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
1922.955 |
1314.078 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
150.000 |
150.000 |
|
|
|
Capital Redemption Reserves |
|
2.170 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
2620.101 |
1929.955 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
|
1615.000 |
1522.760 |
|
|
|
Interest Income |
|
|
2.410 |
|
|
TOTAL EARNINGS |
|
1615.000 |
1525.170 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
830.00 |
746.14 |
666.69 |
|
Expected Sales (2012-2013): Rs.6000.000 Millions
The above information has been parted by Mr. Krishnan
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
17.98 |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
19.27 |
21.66
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.26 |
0.29
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.56 |
0.25 |
0.21
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
1.86 |
1.87
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
|
0.000 |
0.000 |
|
Creditors due others |
|
198.115
|
165.242 |
|
Total |
Not Available
|
198.115
|
165.242 |
|
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs. in Millions)
|
|
31.03.2012 |
31.03.2011 |
|
Loans directors unsecured |
|
780.063 |
|
Deferred sales tax loan unsecured |
|
41.612 |
|
Interest accrued due other debt unsecured |
|
91.751 |
|
|
|
|
|
Total |
2198.316 |
913.426 |
Bankers Charges Report
as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U24239MH1961PTC012061 |
|
Name of the
company |
ACG ASSOCIATED
CAPSULES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
131, Kandivali Industrial Esate, Kandivali (West), Mumbai – 400067, Maharashtra, India E-mail: mahendra.phadte@acg-world.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10330738 |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Standard Chartered
Bank, 19, Rajaji Salai, Chennai – 600001, Tamilnadu, India E-mail: nilesh.babar@sc.com |
|
Nature of
instrument creating charge |
First
Supplemental to Unattested Memorandum of Hypothecation |
|
Date of
instrument Creating the charge |
21.12.2012 |
|
Amount secured by
the charge |
Rs.970.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest/Commission
- As agreed by and with the Bank from time to time. Terms of
Repayment As agreed by and
with the bank from time to time Margin As applicable ,
if any Extent and
Operation of the charge The Bank is having
first and exclusive charge on the security given by the Company, as described
in Sr. no. 15 below. First and
exclusive charge on security as specified in Schedule has been created in
favour of Bank for the purpose of securing credit facility to the extent of
USD 19.50 Mn. granted to the Company. Others For the purpose
of filing the Form 8, it is clarified that the Facility Amount is repayable
in USD, hence, any repayment from the sale / enforcement proceeds of the
above said assets shall be made at the prevailing foreign currency exchange
rate, for conversion from Indian Rupees to USD, at the time of repayment, to
ensure full repayment of the Facility Amount. The facility amount equivalent
in INR has been calculated at the prevailing foreign exchange rate (1 USD =
INR 49.74). |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of first exclusive charge over all present and future movable properties
of the borrower including without limitation its movable plant and machinery,
furniture and fitting equipment, computer hardware, computer software,
machinery spares, tools and accessories and other movables, both whether now
lying loose or in cases or which are now lying or stored in or about or shall
hereafter from time to time during the continuance of the security of these
presents be brought into or upon or be stored or be in or about any or all
the borrower's premises, warehouses, stockyards and godowns or those of the
borrowers agents, affiliates, associates or representatives or at various
worksites at - A) Shirwal, Pune and 2) Pitampur SEZ, Indore. |
|
Particulars of
the present modification |
By way of this
modification, the existing charge of USD 20 Mn (INR 970 Millions) is reduced
to USD 19.50 Mn (INR 970 Millions) and is also now secured with hypothecation
by way of first exclusive charge over all present and future movable
properties / machineries of the Company at A) Shirwal, Pune and 2) Pitampur
SEZ, Indore. |
FIXED ASSETS:
· Land
· Buildings
· Plant and Machinery
· Vehicles
· Furniture / Fixtures
· Speed Boat
· Office Equipments
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.53.99 |
|
|
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.09 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.