MIRA
INFORM REPORT
|
Report Date : |
08.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GANESH POLYCHEM LIMITED (w.e.f. 23.01.2003) |
|
|
|
|
Formerly Known
As : |
GANESH POLYCHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Udyog Kshetra, 2nd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.11.2001 |
|
|
|
|
Com. Reg. No.: |
11-133900 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.61.365
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299MH2001PLC133900 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG07085B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG6160B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Specialty Chemicals. |
|
|
|
|
No. of Employees
: |
60 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established and reputed company having a satisfactory
track record. Some dip in the revenue earned and profits during 2012. However, the financial general position of the company appears to be
good. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and 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 |
ICRA |
|
Rating |
Long term Rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
September 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
September 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 : |
Udyog Kshetra, 2nd Floor, |
|
Tel. No.: |
91-22-67976666 |
|
Fax No.: |
91-22-25653234 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Factory : |
Ban Chem House, P-63, Milap Nagar, MIDC Road No.21, Dombivli (East),
Thane – 421 203, Maharashtra, India |
|
Tel. No.: |
91-251-2448395 (3 Lines) |
|
Fax No.: |
91-251-2451929 |
DIRECTORS
As on 29.09.2012
|
Name : |
Ms. Hetal Gogri Gala |
|
Designation : |
Director |
|
Address : |
552-B, Gopal Sadan, Block No.801, 8th Floor, Jame Jamshed Road, Matunga (West), Mumbai - 400 019, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1975 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No.: |
00005499 |
|
PAN No. : |
AABPG1598G |
|
|
|
|
Name : |
Mr. Hemant Ratnakar Bandodkar |
|
Designation : |
Director |
|
Address : |
RL-72, Milap Nagar, MIDC Residential Zone, Dombivli (East), Thane – 421 203, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1973 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No.: |
01061791 |
|
PAN No. : |
AAEPB4737H |
|
|
|
|
Name : |
Mr. Rashesh Chandrakant Gogri |
|
Designation : |
Director |
|
Address : |
601, Antariksh, Murar Road Mulund (West), Mumbai - 400 080, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1974 |
|
Date of Appointment : |
07.11.2001 |
|
DIN No.: |
00066291 |
|
PAN No. : |
AACPG0778M |
|
Election Commission Identity Card No.: |
MT\07\052\802516 |
|
|
|
|
Name : |
Mr. Ratnakar Tukaram Bandodkar |
|
Designation : |
Director |
|
Address : |
RL-72, Milap Nagar, MIDC Residential Zone, Dombivli (East), Thane – 421 203, Maharashtra, India |
|
Date of Birth/Age : |
27.12.1939 |
|
Date of Appointment : |
07.11.2001 |
|
DIN No.: |
00201704 |
|
|
|
|
Name : |
Mr. Venkateswara Rao Samavedula |
|
Designation : |
Additional Director |
|
Address : |
Flat No.C-205, Everest Co-Operative Housing Society, G.I.D.C., Vapi, District Valsad, Vapi – 396 195, Gujarat, India |
|
Date of Birth/Age : |
01.11.1956 |
|
Date of Appointment : |
08.02.2011 |
|
DIN No.: |
01713317 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Aarti Industries Limited, India |
|
1970610 |
|
Aarti Industries Limited, India |
|
3 |
|
Aarti Industries Limited, India |
|
2 |
|
Aarti Industries Limited, India |
|
2 |
|
Aarti Industries Limited, India |
|
2 |
|
Aarti Industries Limited, India |
|
2 |
|
Ratnakar T. Bandodkar Gauri Bandodkar |
|
757211 |
|
Gauri R. Bandodkar Ratnakar T. Bandodkar |
|
757211 |
|
Pallavi R. Bandodkar Gauri R. Bandodkar |
|
757211 |
|
Hemant R. Bandodkar Ratnakar T. Bandodkar |
|
796624 |
|
Rashesh C. Gogri Chandrakant Gogri |
|
44000 |
|
Aarti R. Gogri Rajendra V. Gogri |
|
243391 |
|
Hetal Gogri Gala Jaya C. Gogri |
|
306885 |
|
Mirik R. Gogri Rajendra V. Gogri |
|
211645 |
|
Rashesh C. Gogri Manisha R. Gogri |
|
291715 |
|
Total
|
|
6136514 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
32.11 |
|
Directors or relatives of Directors |
60.47 |
|
Other top fifty shareholders |
7.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Specialty Chemicals. |
||||||||||||
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|
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|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity (In M.T. /P.A.) |
|
Di-Chloro Diphenyl Sulfone |
3,000 |
|
Di-Methyl Aniline |
3,500 |
|
Di-Methyl Sulphate |
5,000 |
|
Particulars |
Actual
Production QTY (KGS) |
|
Di-Chloro Di-Phenyl Sulfone |
2528000 |
|
Di-Amino Di-Phenyl Sulfone |
84275 |
|
Di-Methyl Aniline |
2486691 |
|
Di-Methyl Sulphate |
4853494 |
GENERAL INFORMATION
|
No. of Employees : |
60 (Approximately) (In Office + In Factory) |
||||||||||||||||||||||||||||||
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Bankers : |
State Bank of |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Vora Sanghavi and Associates Chartered Accountants |
|
Address : |
203, Chheda Bhavan, 98, |
|
Tel. No.: |
91-22-23481063 |
|
PAN.: |
AAAPV8139M |
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|
|
|
Associates : |
Aarti Industries Limited |
|
|
|
|
Related Parties : |
· Alchemie Dye-Chem Private Limited · Aarti Healthcare Limited · Anushakti Chemicals and Drugs Limited · Hindustan Monomers Private Limited · Aarti Drugs Limited ·
Poise Chemicals Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6136514 |
Equity Shares |
Rs.10/- each |
Rs.61.365
Millions |
|
|
|
|
|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Hemant R. Bandodkar |
7,96,624 |
12.98% |
|
Hetal Gogri Gala |
3,06,885 |
5.00% |
|
Rashesh C. Gogri |
3,35,715 |
5.47% |
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 |
61.365 |
68.508 |
31.140 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
408.148 |
410.224 |
284.096 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
469.513 |
478.732 |
315.236 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
100.826 |
59.872 |
93.164 |
|
|
2] Unsecured Loans |
74.067 |
40.710 |
78.311 |
|
|
TOTAL BORROWING |
174.893 |
100.582 |
171.475 |
|
|
DEFERRED TAX LIABILITIES |
40.763 |
34.314 |
28.428 |
|
|
|
|
|
|
|
|
TOTAL |
685.169 |
613.628 |
515.139 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
373.195 |
339.174 |
321.857 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
102.537
|
72.313 |
72.275
|
|
|
Sundry Debtors |
179.861
|
157.893 |
113.701
|
|
|
Cash & Bank Balances |
7.126
|
10.968 |
4.664
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
148.262
|
126.834 |
71.543
|
|
Total
Current Assets |
437.786
|
368.008 |
262.183 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
107.612 |
87.621 |
52.849
|
|
|
Other Current Liabilities |
0.000
|
0.000 |
2.777
|
|
|
Provisions |
18.200
|
5.933 |
13.275
|
|
Total
Current Liabilities |
125.812
|
93.554 |
68.901 |
|
|
Net Current Assets |
311.974
|
274.454 |
193.282
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
685.169 |
613.628 |
515.139 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
818.401 |
850.039 |
467.907 |
|
|
|
Other Income |
8.739 |
3.192 |
2.228 |
|
|
|
TOTAL (A) |
827.140 |
853.231 |
470.135 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
508.599 |
|
|
|
|
|
Purchases of stock-in-trade |
27.080 |
20.258 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(25.301) |
9.534 |
377.377 |
|
|
|
Employee benefit expense |
22.038 |
18.939 |
|
|
|
|
Other expenses |
195.014 |
157.515 |
|
|
|
|
TOTAL (B) |
727.430 |
672.769 |
377.377 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
99.710 |
180.462 |
92.758 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.529 |
11.760 |
22.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
83.181 |
168.702 |
70.165 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.336 |
21.809 |
22.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
59.845 |
146.892 |
48.143 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
19.064 |
(16.603) |
13.841 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.781 |
163.495 |
34.302 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
366.193 |
219.048 |
188.651 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
16.350 |
3.905 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
366.193 |
219.048 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export Sales |
493.013 |
585.904 |
295.391 |
|
|
TOTAL EARNINGS |
493.013 |
585.904 |
295.391 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Packing Materials |
|
4.760 |
2.161 |
|
|
|
Raw Materials |
|
134.848 |
79.276 |
|
|
TOTAL IMPORTS |
94.840 |
139.608 |
81.437 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.65 |
23.87 |
11.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.93
|
19.16 |
7.30
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.31
|
17.28 |
10.29
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.38
|
20.77 |
8.24
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.31 |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.37
|
0.21 |
0.76
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.48
|
3.93 |
3.81
|
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 |
Yes |
|
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 |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
DISCLOSURE OF
CONTINGENT LIABILITIES
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
Letters of Credit, Bank Guarantees and Bills Discounted |
39.297 |
32.608 |
|
Estimated Amount of contracts to be executed on capital accounts (net of advances) |
0.852 |
1.858 |
UNSECURED LOAN
Rs. In
Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
73.492 |
33.492 |
|
Other loans and advances, others |
0.575 |
0.575 |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
0.417 |
|
Other loans and advances |
0.000 |
6.226 |
|
Total |
74.067 |
40.710 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24299MH2001PLC133900 |
|
Name of the
company |
GANESH POLYCHEM LIMITED (w.e.f. 23.01.2003) |
|
Address of the
registered office or of the principal place of business in |
Udyog Kshetra, 2nd Floor, Mulund Goregaon Link Road, L.B.S.
Marg, Mulund (West), Mumbai – 400 080, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90146367 |
|
Type of charge |
· Immovable property · Book debts ·
Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank of Email: chintancs@rediffmail.com |
|
Nature of
instrument creating charge |
1. Memorandum of Entry for creation of
further charge for overall Working Capital Limit where the initial charge is
created by way of Mortgage by deposit of title deeds. 2. Declaration for Extension / Modification
of charge of Mortgage for increase / modification / revision of overall
Working Capital Credit Limits. (All the
documents constitute a single Modification) |
|
Date of instrument
Creating the charge |
07.05.2012 |
|
Amount secured by
the charge |
Rs.206.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC / WCDL : 5.25%
above Base Rate EPC / PCFC / EBD /
EBN (upto 365 days from shipment) : 1.50% above Base Rate LC / BG :
Commission as per Bank applicable rate. Terms of Repayment Repayable on
Demand and are subject to review from time to time. Margin Raw Materials -
25% Stock in process
- 25% Finished Goods -
25% Stores and Spares
- 50% Receivables
(Cover 90 days) - 25% or such other
rate as may be decided / fixed by Bank from time to time. Extent and Operation of the charge The charge is to
operate as a security for the due repayment of revised Limits of Rs. 206.000
Millions [CC/WCDL – Rs.150.000 Millions, EPC/PCFC (Within CC Limit) -
(Rs.150.000 Millions), EBD/EBN (Within CC Limit) - (Rs.150.000 Millions), LC
– Rs.30.000 Millions, BG – Rs.20.000 Millions, For. Cont. – Rs.6.000
Millions] availed or to be availed by the Company together with interests,
costs, charges, comm., expenses, fees, penalty and all other moneys payable
by the Company to the Bank in terms of the said revised limit from time to
time. Others All other terms
and conditions are as per Sanction Letter and Loan Documents executed between
the Company and Bank from time to time. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All the piece of land known as Plot No. 408 in the Vapi Notified Industrial Area consisting Revenue Survey Nos. 229/p and 223/p within the village limits of Chanod Taluka, Pardi, District Valsad, containing by admeasurement 9476 sq. mtrs. or thereabout together with all structures standing thereon and bounded as follows that is to say : on or towards the North by : Estate Road, South by : Green Space, East by : Plot No. 409, West by : Plot No. 407 together with all the present and future plants, machineries, buildings and structure and fixed assets thereon. All those piece and parcel of lands known as Plot No. 7 in the Functional Automobile Ancillaries Industrial Estate, Dombivali and Buildings and erections thereon and together with all fixed plants and machineries, fixtures and fittings therein (both present and future) situate at Village Sagon and Asde Golavli Part and outside the limits of Kalyan Dombivali Municipal Corporation, Taluka and Registration Sub District Kalyan, District and Registration District Thane containing by admeasurement 2440 Square Meters or thereabouts and bounded as follows : On or towards North by : Plot No. 6 and Plot No. C-1, South by : by Road, East by : Plot No. 8, West by : Road. Continuation of Hypothecation of all the present and future Goods, Book Debts and Other Movable Assets of the Company. |
|
Date of
instrument modifying the charge |
27.01.2012 |
|
Particulars of
the present modification |
By this
modification, existing Limits of Rs. 206.000 Millions already secured by
Hypothecation of all the present and future Goods, Book Debts and Other
Movable Assets of the Company is further secured by Extension of Mortgage on 1) Plot No. 408, Revenue Survey No. 229/p and
223/p, Village Chanod, Taluka - Pardi, Dist. - Valsad, Gujarat - 396195 and 2) Plot No. C - 7, Functional Automobile
Ancillaries Industrial Estate, Sagaon, MIDC, Phase - II, Manpada Road,
Dombivali (East), Thane, Maharashtra - 421204. |
FIXED ASSETS:
·
Land
·
Goodwill
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Computer Systems
·
Office Equipments
·
Vehicles
·
Technical Know-how
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.54.74 |
|
|
1 |
Rs.82.14 |
|
Euro |
1 |
Rs.71.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.