1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Kundan Rice Mills Limited (PART IX CO.) |
Principal Name 1 |
Mr. Pradeep Garg |
|
Status |
Moderate |
Principal Name 2 |
Mr. Praphul Kumar |
|
|
|
Registration # |
55-64113 |
|
Street Address |
D-16 and 17, Central Market,
Prasant Vihar, New Delhi – 110085, India |
||
|
Established Date |
05.01.1995 |
SIC Code |
-- |
|
Telephone# |
91-11-27567171 (10 Lines) |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-27567180/ 27865180 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Rice |
|
|
# of employees |
Above 100
[Approximately] |
Product Name 2 |
Edible Oil |
|
Paid up capital |
Rs.79,415,000/- |
Product Name 3 |
Chemicals |
|
Shareholders |
Directors or relatives of
directors- 100% |
Banking |
Indian Overseas Bank |
|
Public Limited Corp. |
No |
Business Period |
18 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B
(36) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Other
Related Party |
-- |
Kundan Care Products Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
25,559,942,000 |
Current Liabilities |
2,092,824,000 |
|
Inventories |
1,694,163,000 |
Long-term Liabilities |
24,400,414,000 |
|
Fixed Assets |
121,091,000 |
Other Liabilities |
49,367,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
26,542,605,000 |
|
Invest& other Assets |
8,380,000 |
Retained Earnings |
761,556,000 |
|
|
|
Net Worth |
840,971,000 |
|
Total Assets |
27,383,576,000 |
Total Liab. & Equity |
27,383,576,000 |
|
Total Assets (Previous Year) |
16,726,510,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
63,436,859,000 |
Net Profit |
111,614,000 |
|
Sales(Previous yr) |
18,136,471,000 |
Net Profit(Prev.yr) |
111,491,000 |
|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
KUNDAN RICE MILLS LIMITED (PART IX CO.) |
|
|
|
|
Registered
Office : |
D-16 and 17, Central Market,
Prasant Vihar, New Delhi – 110085 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.01.1995 |
|
|
|
|
Com. Reg. No.: |
55-64113 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.79.415
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC064113 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKK01578D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK7098P |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Rice, Edible Oil and Chemicals. |
|
|
|
|
No. of Employees
: |
Above 100 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Government of India recognized premier trading house. It is an established company having a moderate track record. The
profitability of the company appears to be low. The external borrowing
appears to be huge. However, Performance capability appears to be high. The subjects get
strong support from government. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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) |
|
|
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 |
Long Term Rating: BB- |
|
Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation. |
|
Date |
December, 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/ Corporate Office : |
D-16 and D-17, Central Market, Prashant Vihar, New Delhi –
110085, India |
|
Tel. No.: |
91-11-27567171 (10 Lines)/ 27865180/ 27865160 |
|
Fax No.: |
91-11-27567180/ 27865180/ 7567180 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
E-4, Industrial Area, Pasina Kalan, Panipat, Haryana, India |
|
|
|
|
Factory 2 : |
12, |
|
Tel. No.: |
91-33-22356734 / 32919301 |
|
Fax No.: |
91-33-22356734 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
17, Bhailal Bhawan 1st Floor, 118, Keshv Ji, Naik Road,
Chinch Bunder, Mumbai – 400008, Maharashtra, India |
|
Tel. No.: |
91-22-67106212 |
|
Fax No.: |
91-22-28389292 |
|
E-Mail : |
|
|
|
|
|
Factory 4 : |
78, City Centre, Room No. 22/23, Second Floor, 118, Keshav Ji, Swastik
Char Rasta, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-32995206 |
|
Fax No.: |
91-79-26560627 |
|
E-Mail : |
|
|
|
|
|
Overseas Office : |
Located
At : ·
·
Dubai |
|
|
|
|
Branch Office : |
Located
At : ·
Mumbai ·
Ahmedabad ·
·
Kolkata ·
|
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Pradeep Garg |
|
Designation : |
Director |
|
Address : |
B-324, Saraswati Vihar, New Delhi-110034, India |
|
Date of Birth/Age : |
10.03.1962 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00568542 |
|
|
|
|
Name : |
Mr. Praphul Kumar |
|
Designation : |
Director |
|
Address : |
19, Nehru Nagar, Agra-282002, Uttar Pradesh, India |
|
Date of Birth/Age : |
08.05.1960 |
|
Date of Appointment : |
22.04.2008 |
|
DIN No.: |
02153314 |
|
|
|
|
Name : |
Mr. Vishnu Kumar Bhargava |
|
Designation : |
Director |
|
Address : |
KD-272, Kohat Enclave, Pitampura, New Delhi-110034, India |
|
Date of Birth/Age : |
30.07.1962 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03511388 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Pradeep Garg |
|
4473750 |
|
Madhu Garg |
|
2799500 |
|
Udit Pradeep Garg |
|
536500 |
|
Vidit Pradeep Garg |
|
100000 |
|
Sushma Goel |
|
24750 |
|
S K Agarwal |
|
5000 |
|
Shyam Gupta |
|
1000 |
|
Naveen Kaushik |
|
1000 |
|
|
|
|
|
Total |
|
7941500 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Rice, Edible Oil and Chemicals. |
|
|
|
|
Products : |
· Rice ·
Vanaspati Oil ·
Mustard Oil ·
Phenol ·
Hair Gel ·
Refined Oil ·
Sun Shield ·
·
Bleech ·
Moisturiser ·
Pulses ·
Soya Meal |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Rice |
In Qtls. |
Not Applicable |
60 per Hour |
123,580.67 |
GENERAL INFORMATION
|
No. of Employees : |
Above 100 [Approximately] |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Indian Overseas Bank Unit No.19-22, Moolchand Shopping-Cum-Office Complex, Defence Colony,
Ring Road, New Delhi – 110024, India ·
Canara Bank Overseas Branch, B-39, 1st Floor, Connaught
Place, New Delhi - 110001, India ·
Punjab National Bank AM-60, Shalimar Bagh, New Delhi – 110088, India ·
Bank of Baroda, Panipat, Haryana,
India ·
Allahabad Bank ·
Bank of Punjab Limited ·
ABN Amro Bank, ·
HDFC Bank, Panipat ·
IDBI, ·
Central bank of ·
Corporation Bank, ·
Oriental Bank of Commerce, Kolkata and Delhi,
India ·
State Bank of ·
United Bank of India, Kolkata ·
State Bank of India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Lall and Company Chartered Accountants |
|
Address : |
15, Arya School Shopping Complex, Opposite Civil Hospital, G.T. Road, Panipat
– 132103, Haryana, India |
|
Tel. No.: |
91-180-2630840/2630723 |
|
PAN No.: |
ACWPG1215B |
|
|
|
|
Enterprises
which are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· JB Overseas · Kundan Care Products Limited · Durga Rice Mills Limited · Vanshika Buildtech Limited |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7941500 |
Equity Shares |
Rs.10/- each |
Rs.79.415
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 |
79.415 |
79.415 |
79.415 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
761.556 |
649.941 |
538.914 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
840.971 |
729.356 |
618.329 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
23820.159 |
14216.023 |
212.751 |
|
|
2] Unsecured Loans |
580.255 |
500.947 |
40.061 |
|
|
TOTAL BORROWING |
24400.414 |
14716.970 |
252.812 |
|
|
DEFERRED TAX LIABILITIES |
10.382 |
8.447 |
6.986 |
|
|
|
|
|
|
|
|
TOTAL |
25251.767 |
15454.773 |
878.127 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
121.091 |
109.925 |
90.579 |
|
|
Capital work-in-progress |
8.380 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.900 |
0.700 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1694.163
|
1040.815
|
962.949
|
|
|
Sundry Debtors |
1597.472
|
985.939
|
628.621
|
|
|
Cash & Bank Balances |
23278.909
|
13931.019
|
7593.856
|
|
|
Other Current Assets |
477.750
|
516.375
|
397.326
|
|
|
Loans & Advances |
205.811
|
141.537
|
19.250
|
|
Total
Current Assets |
27254.105
|
16615.685 |
9602.002
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1943.575
|
1134.390
|
8623.904
|
|
|
Other Current Liabilities |
149.249
|
109.194
|
182.250
|
|
|
Provisions |
38.985
|
28.153
|
9.000 |
|
Total
Current Liabilities |
2131.809
|
1271.737
|
8815.154
|
|
|
Net Current Assets |
25122.296
|
15343.948
|
786.848
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25251.767 |
15454.773 |
878.127 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
63436.859 |
18136.471 |
12099.700 |
|
|
|
Other Income |
1.475 |
0.073 |
0.147 |
|
|
|
TOTAL (A) |
63438.334 |
18136.544 |
12099.847 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
0.000 |
0.000 |
11477.451 |
|
|
|
Manufacturing Expenses |
0.000 |
0.000 |
52.843 |
|
|
|
Administrative Expenses |
0.000 |
0.000 |
38.576 |
|
|
|
Selling Expenses |
0.000 |
0.000 |
22.996 |
|
|
|
Other Expenditure |
175.424 |
147.771 |
39.152 |
|
|
|
Cost of materials consumed |
4422.500 |
235.534 |
0.000 |
|
|
|
Purchases of stock-in-trade |
57087.905 |
17063.117 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
49.430 |
(99.839) |
0.000 |
|
|
|
Employee benefit expense |
33.333 |
26.302 |
0.000 |
|
|
|
TOTAL (B) |
61768.592 |
17372.885 |
11631.018 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1669.742 |
763.659 |
468.829 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1509.291 |
616.375 |
315.496 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
160.451 |
147.284 |
153.333 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.917 |
6.179 |
2.959 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
152.534 |
141.105 |
150.374 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
40.920 |
29.614 |
11.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
111.614 |
111.491 |
138.967 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
19408.000 |
13589.500 |
7761.600 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE
(Raw Materials) |
59011.600 |
16548.500 |
9886.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.05 |
14.04 |
17.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.18
|
0.61
|
1.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.24
|
0.78
|
1.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.56
|
0.84
|
1.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.19
|
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
29.01
|
20.18
|
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
12.78
|
13.07
|
1.09 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
-----------------------------------------------------------------------------------------------------------------------------------------
CHARGES
|
Entity |
Person |
Competent Authority |
Regulatory Charges |
Regulatory Action(s)/ Date of Order |
Further Developments |
|
|
|
|
|
|
|
|
Kundan Rice Mills Limited |
Jai Bhagwan Rameshwar Dass |
ETD |
Defaulted Payment of Excise and/ or Other Taxes |
Public Notice for Whereabouts-Rs.1.203 Millions 06.12.2008 |
-- |
-----------------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Intercorporate |
43.042 |
40.000 |
|
Working capital loans from banks |
537.213 |
460.947 |
|
|
580.255 |
|
|
Total |
580.255 |
500.947 |
CONTINGENT LIABILITES
(AS ON 31.03.2012)
a) Claims against the company not acknowledge as debt NIL
b) Guarantees Rs.57.867 Millions
c) Other money for which company is contingently liable. NIL
FORM 8
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
80051864 |
|
Corporate
identity number of the company |
U74899DL1995PLC064113 |
|
Name of the
company |
KUNDAN RICE MILLS
LIMITED (PART IX CO.) |
|
Address of the
registered office or of the principal place of business in |
D-16 and 17, Central Market,Prasant Vihar, New
Delhi, India |
|
Type of charge |
Immovable
Property Book Debts Movable Property Floating Charge |
|
Particular of charge
holder |
Canara Bank Overseas Branch,
B-39, 1st Floor, Connaught Circus, New Delhi – 110001, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Common Hypothecation Agreement dated 04.08.2012 and Letter evidencing
extension of equitable mortgage alongwith Schedule A & B dated 04.12.2012 |
|
Date of
instrument Creating the charge |
04/12/2012 |
|
Amount secured by
the charge |
Rs.350.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest @ Base Rate +
2.50% ie 13% p.a. at present at monthly rest (Floating) for OCC/ODBDE limit, 11%
p.a. at monthly rest for PC/FDB/E limits and LIBOR + 350 bps for PCFC/BRD
limits. Terms of
Repayment Payable on
demand. Margin 25% against
stocks and 40% against book-debts and NIL for FDB/E limits Extent and
Operation of the charge 100% Others To secure all
amounts payable under enhanced OCC/ODBD limit of Rs. 350.000 Millions with
the following sub-limits together with all interests, costs, charges,
expenses etc.:- i)PC/PCFC - Rs. 100.000 Millions ii)FDB/FBE/BRD - Rs. 100.000 Millions iii)OCC/PC/PCFC/FDB/FBE/BRD
limit apportioned to Panipat Branch - Rs. 50.000 Millions |
|
Short particulars
of the property charged |
First pari-passu
charge on the following:- Prime: Hypothecation of entire
stock of raw materials of paddy/rice, other agro commodities, edible oil,
chemicals, petrochemicals goods, stores and spares and other commodities both
present and future stored at various locations within India. Hypothecation of
entire book-debts of the Company both present and future. Collateral: Equitable
mortgage of property Khewat No. 39/27, Khetauni No. 50 Rect. 56, Killa Ni.
1/2(6-0), Killa 19(8-0), Khewat No. 391/337, Khetauni No. 477, 232, 275, 276,
Rect No. 26, Killa No. 2(8-0), 9(8-0), 11(8-0), 12(8-0), 20(9-0), 21(6-13),
22(6-13), Village Pasina Kalan, Samalkha Tehsil Panipat, Haryana. Equitable
mortgage of industrial property land and building at E-4, Industrial Area,
Panipat, Tehsil and District Panipat (Haryana) in the name of Mr. Jai Bhagwan
Garg. Equitable
mortgage of residential property at Plot No. R-435 (Southern Part), Model
Town, Panipat, Haryana in the name of Mr. Jai Bhagwan Garg. Equitable
mortgage of an Industrial land measuring 1174 sq.yds out of Khasra No.894,
situated at Lal Dora Abadi, Village Alipur, Delhi in the name of Mr. Pradeep
Garg, Mrs. Angoori Devi and Mrs. Madhu Garg Negative line on
an Industrial property (land measuring 5.63 acres approx) situated at Sindhu
Border, Delhi in the name of Mr. Pradeep Garg, Mrs. Madhu Garg, and Mr. Jai
Bhagwan Garg and Mrs. Anguri Devi Negative lien on
property office bearing No. T-1 to T-5 and Mazzine Open Area of Third Floor
and Fourth Floor (Super area 1616 sq. ft.) and Roof (1246.29 sq. ft.) on the
Roof Floor of the building i.e. Block-D, Plot No.
16, Local Shopping Centre, Prashant Vihar, Delhi-110085 in the name of Kundan
Rice Mills Limited |
|
Date of latest
modification prior to the present modification |
26/11/2012 |
|
Particulars of
the present modification |
The first
pari-passu charge on stock of all goods and book-debts/receivables of the
Company - both present and future as prime security and all plant and
machinery and other fixed assets of the Company - both present and future and
equitable mortgage of all immovable properties as detailed in Col 15 above
stands enhanced from Rs.250.000 Millions to Rs.350.000 Millions |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer
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.54.29 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.