1. Summary Information
|
|
|
Country |
India |
|
Company Name |
THREADS (INDIA)
LIMITED |
Principal Name 1 |
Mr. Gopal Chandra Lohia |
|
Status |
Good |
Principal Name 2 |
Mr. Jitendra Kumar Lohia |
|
|
|
Registration # |
20-006119 |
|
Street Address |
D-3/A, Panki
Industrial Estate, Kanpur - 208 022, Uttar Pradesh |
||
|
Established Date |
28.05.1983 |
SIC Code |
-- |
|
Telephone# |
91-512-2691221 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-512-2691249 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Sewing Thread of Man-Made Filaments of Synthetic |
|
|
# of employees |
500
[Approximately] |
Product Name 2 |
Sewing Thread of Man-made staple Fibre of Synthetic |
|
Paid up capital |
Rs.20,000,000/- |
Product Name 3 |
Braided Twine, Cordage, Rope and Cables |
|
Shareholders |
Bodies corporate-100.00 % |
Banking |
State Bank of
India |
|
Public Limited Corp. |
NO |
Business Period |
30 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (54) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
237,448,000 |
Current Liabilities |
111,475,000 |
|
Inventories |
234,356,000 |
Long-term Liabilities |
275,770,000 |
|
Fixed Assets |
251,685,000 |
Other Liabilities |
23,170,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
410,415,000 |
|
Invest& other Assets |
12,862,000 |
Retained Earnings |
305,936,000 |
|
|
|
Net Worth |
325,936,000 |
|
Total Assets |
736,351,000 |
Total Liab. & Equity |
736,351,000 |
|
Total Assets (Previous Year) |
727,063,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
842,395,000 |
Net Profit |
34,592,000 |
|
Sales(Previous yr) |
799,418,000 |
Net Profit(Prev.yr) |
42,217,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
THREADS ( |
|
|
|
|
Registered
Office : |
D-3/A, Panki Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.05.1983 |
|
|
|
|
Com. Reg. No.: |
20-006119 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17116UP1983PTC006119 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KNPT00069G KNPT01161G KNPT00191C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT5205H |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business
: |
Manufacturers
of Synthetic Sewing Threads. |
|
|
|
|
No. of Employees
: |
500 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Lohia Group. It is a well established and a reputed
company having good track record. Financial position of the company appears
to be sound. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A- (Long Term Rating) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
08.01.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 (Short Term Rating) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
08.01.2013 |
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 : |
D-3/A, Panki Industrial Estate, |
|
Tel. No.: |
91-512-2691221 / 282001-9 |
|
Fax No.: |
91-512-2691249 / 282012 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq ft |
|
Location : |
Owned |
|
|
|
|
Factory 1: |
Lohia Industrial Complex, Chaubepur, Kanpur-209203, |
|
Tel. No.: |
91-5112-282001/9 |
|
Fax No.: |
91-5112-282012 / 282880 |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Plot No. S-9, |
|
|
|
|
Branches: |
Located At: ·
Ahmedabad ·
·
Chennai ·
Gurgaon ·
·
Kolkata ·
·
Mumbai ·
Noida ·
|
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Gopal Chandra Lohia |
|
Designation : |
Managing Director |
|
Address : |
7/153 – B, Swaroop Nagar, |
|
Date of Birth/Age : |
05.07.1937 |
|
Date of Appointment : |
16.05.1986 |
|
DIN No.: |
00203506 |
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 |
U29269UP1982PTC005581 |
LOHIA
ENGINEERING WORKS PRIVATE LIMITED |
Director |
06/03/1982 |
06/03/1982 |
Strike
off |
NO |
|
2 |
U29263UP1981PLC005446 |
LOHIA
CORP LIMITED |
Director |
04/04/1983 |
04/04/1983 |
Active |
NO |
|
3 |
U17116UP1983PLC006119 |
THREADS
(INDIA) LIMITED |
Managing
director |
01/03/2011 |
16/05/1986 |
Active |
NO |
|
4 |
U17115UP1987PLC009240 |
LOHIA
PACKAGING MACHINES LIMITED |
Director |
31/12/1987 |
31/12/1987 |
Active |
NO |
|
Name : |
Mr. Jitendra Kumar Lohia |
|
Designation : |
Director |
|
Address : |
Saket, 3 A/ 88, Azad Nagar, |
|
Date of Birth/Age : |
16.03.1935 |
|
Date of Appointment : |
17.09.1996 |
|
DIN No.: |
00203384 |
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 |
U29269UP1982PTC005581 |
LOHIA
ENGINEERING WORKS PRIVATE LIMITED |
Director |
02/04/1985 |
02/04/1985 |
Strike
off |
NO |
|||||||||
|
2 |
U17116UP1983PLC006119 |
THREADS
(INDIA) LIMITED |
Director |
17/09/1996 |
17/09/1996 |
Active |
NO |
|||||||||
%20LIMITED%20-%20210071%2012-Mar-2013_files/image003.gif){kind=small}
%20LIMITED%20-%20210071%2012-Mar-2013_files/image004.gif){kind=small}
|
Name : |
Mr. Ajay Kumar Lohia |
|
Designation : |
Whole Time Director |
|
Address : |
7/153 – B, Swaroop Nagar, |
|
Date of Birth/Age : |
03.04.1965 |
|
Date of Appointment : |
27.07.2002 |
|
DIN No.: |
00205223 |
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 |
U65191UP1996PTC020815 |
SHIPRA
FINSEC PRIVATE LIMITED |
Director |
09/10/1996 |
09/10/1996 |
Active |
NO |
|
2 |
U70200UP1997PTC021941 |
SHRI
FOUNDRIES AND ENGG. WORKS PRIVATE LIMITED |
Director |
13/05/1997 |
13/05/1997 |
Active |
NO |
|
3 |
U17116UP1983PLC006119 |
THREADS
(INDIA) LIMITED |
Whole-time
director |
01/06/2012 |
27/07/2002 |
Active |
NO |
%20LIMITED%20-%20210071%2012-Mar-2013_files/image006.gif){kind=small}
%20LIMITED%20-%20210071%2012-Mar-2013_files/image008.gif){kind=small}
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Shareholders
details are not available.
AS ON 27.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Synthetic Sewing Threads. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Actual
Production |
|
Synthesc Sewing Thread |
MT |
2500 |
1360.453 |
GENERAL INFORMATION
|
Customers : |
·
Lee Cooper ·
Paragon ·
Raymond ·
Pantaloons ·
Maruti Suzuki ·
ABB ·
Bata ·
Denso ·
Kurl-on ·
Renault Nissan ·
TATA ·
Hyundai |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
500 [Approximately] |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Overseas Branch, 15/54 B,
Virendra Smriti Complex, Civil Lines, Kanpur-208001, Uttar Pradesh,
India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Pariek and Garg Chartered Accountants |
|
Address : |
33, Anand Bazar, Swaroop Nagar, Kanpur-208002, |
|
PAN No.: |
AAAFG6229R |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 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 |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
305.936 |
271.406 |
229.300 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
325.936 |
291.406 |
249.300 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
275.770 |
346.533 |
231.966 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
275.770 |
346.533 |
231.966 |
|
|
DEFERRED TAX LIABILITIES |
14.807 |
14.915 |
13.961 |
|
|
|
|
|
|
|
|
TOTAL |
616.513 |
652.854 |
495.227 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
251.685 |
255.946 |
209.425 |
|
|
Capital work-in-progress |
0.000 |
13.508 |
3.149 |
|
|
|
|
|
|
|
|
INVESTMENT |
12.862 |
9.450 |
9.450 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
234.356
|
230.644
|
148.779
|
|
|
Sundry Debtors |
198.602
|
185.437
|
152.370
|
|
|
Cash & Bank Balances |
3.493
|
5.246
|
10.386
|
|
|
Other Current Assets |
6.555
|
0.000
|
0.000
|
|
|
Loans & Advances |
28.798
|
26.832
|
21.381
|
|
Total
Current Assets |
471.804
|
448.159 |
332.916 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
55.878
|
39.374
|
34.340
|
|
|
Other Current Liabilities |
55.597
|
28.124
|
18.533
|
|
|
Provisions |
8.363
|
6.711
|
6.840
|
|
Total
Current Liabilities |
119.838
|
74.209 |
59.713 |
|
|
Net Current Assets |
351.966
|
373.950
|
273.203
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
616.513 |
652.854 |
495.227 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
842.395 |
799.418 |
622.049 |
|
|
|
Other Income |
1.139 |
9.228 |
6.437 |
|
|
|
TOTAL (A) |
843.534 |
808.646 |
628.486 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
463.529 |
411.308 |
303.429 |
|
|
|
Manufacturing Service Costs |
0.000 |
56.119 |
40.333 |
|
|
|
Employee Related Expenses |
125.726 |
111.916 |
83.203 |
|
|
|
Administrative Selling Other Expenses |
151.520 |
113.324 |
94.936 |
|
|
|
Extraordinary Items |
0.000 |
0.274 |
8.396 |
|
|
|
Change in inventories of finished goods, work in progress and stock in
trade |
(16.171) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
724.604 |
692.941 |
530.297 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
118.930 |
115.705 |
98.189 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.532 |
28.008 |
18.179 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
79.398 |
87.697 |
80.010 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
26.877 |
23.407 |
19.986 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
52.521 |
64.290 |
60.024 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.929 |
22.073 |
22.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
34.592 |
42.217 |
37.930 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
179.030 |
141.278 |
|
|
|
|
|
|
|
|
|
Add / Less |
EXPENSES
RELATED TO EARLIER YEARS |
NA |
(0.024) |
(0.178) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
221.223 |
179.030 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
|
84.171 |
|
|
|
Job Work Receipts |
NA |
|
1.396 |
|
|
TOTAL EARNINGS |
NA |
117.394 |
85.567 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
83.688 |
|
|
|
Stores & Spares |
|
|
0.864 |
|
|
|
Capital Goods |
|
|
8.205 |
|
|
TOTAL IMPORTS |
NA |
NA |
92.757 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.00 |
21.11 |
18.97 |
|
%20LIMITED%20-%20210071%2012-Mar-2013_files/image009.gif){kind=small}
%20LIMITED%20-%20210071%2012-Mar-2013_files/image010.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.10
|
5.22
|
6.04
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.23
|
8.04
|
9.65
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.26
|
9.13
|
11.07
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.22
|
0.24
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.85
|
1.19
|
0.93
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.94
|
6.04
|
5.57
|
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 |
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS
Performance of the
Company during the year can be termed satisfactory with Revenue from Operations
at Rs.842.400 Millions compared to previous year figure of Rs.805.200 Millions.
Operating margins during the year was of Rs.118.900 Millions as against
Rs.115.700 Millions of last year.
OUTLOOK FOR THE FUTURE
The Company has
been modernizing and expanding its manufacturing facilities on a continuous basis.
The Directors are confident of the Company emerging stronger in the times to
come. As reported in the past, the Company has been accredited ISO/TS
16949:2002 Certification by Det Norkse Veritas, Netherland. The Company has
also received Approved Product Award from Satara Technology Centre, U.K.
FORM 8
|
Corporate
identity number of the company |
U17116UP1983PLC006119 |
|
Name of the
company |
THREADS (INDIA) LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-3/ A, Panki Industrial Estate, Kanpur-208022, Uttar Pradesh, India E-mail : til@threadsindia.com
|
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90271929 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
State Bank of India, Overseas Branch, 15/54 B, Virendra Smriti Complex,
Civil Lines, Kanpur-208001, Uttar Pradesh, India E-mail : sbiobcan@sancharnet.com |
|
Nature of
instrument creating charge |
Joint Deed of
Hypothecation. |
|
Date of
instrument Creating the charge |
28.06.2012 |
|
Amount secured by
the charge |
Rs. 444.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit @ 3%
above base rate present effective rate i.e.13% p.a. Terms of repayment Payable on
demand. Margin As per
arrangement letter of state bank of India dated 19.03.2012, as amended from
time to time. Extent and operation of the charge Pari-passu first
charge on current assets of the company including raw materials, components,
stock in process, finished goods, stores and spares, receivables and all
other current assets present and future. Pari-passu second
charge on all fixed assets of the company. Other Name of
consortium member banks having pari-passu charge: State bank of
India, Overseas Branch, Civil Lines, Kanpur. HDFC bank
limited, Civil Lines, Kanpur. IDBI bank
limited, Civil Lines, Kanpur |
|
Short particulars
of the property charged (Including location of the property) |
Plot No.484,
485a, 485b, 417, 444, 493, 475, 505 and Part Of Plot No. 474, 492, 505. All Above
Situated At Village, Amiliha, Tehshil Bilhaur, Kanpur Plot No. S-9 at
Doddaballapur, Bangalore |
|
Date of
instrument modifying the charge |
24.02.2011 |
|
Particulars of the
present modification |
Working Capital
Limits Enhanced From Rs.360.000 Millions To Rs. 444.000 Millions As Per
Details In The First Schedule To The Joint Deed Of Hypothecation. |
FIXED ASSETS
·
Land
·
Building
·
Plant And Machinery
·
Furniture
·
Office Equipment
·
Vehicle
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. 81.08 |
|
Euro |
1 |
Rs. 70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.