Business
information report
1. Summary Information
|
Country |
India |
||
|
Company Name |
PVC CONVERTERS INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Raoul Ajai Verma |
|
Status |
Satisfactory |
Principal Name 2 |
Ms. Kim Verma |
|
Registration # |
11-129988 |
||
|
Street Address |
7-B, Trust House, 7th Floor, 35 Hospital Avenue, Dr. E
Borges Road, Parel-400012, Maharashtra |
||
|
Established Date |
12.12.2000 |
SIC Code |
-- |
|
Telephone# |
91-22-24110674 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-24110673 |
Business Style 2 |
Seller |
|
Homepage |
Product Name 1 |
Rigid PVC Film |
|
|
# of employees |
Not Available |
Product Name 2 |
PVC Leather Cloth |
|
Paid up capital |
Rs. 8,878,000/- |
Product Name 3 |
Flexible PVC Film |
|
Shareholders |
Foreign holdings – 21.96% Directors or
relatives of Directors – 78.04% |
Banking |
Indian Overseas
Bank |
|
Public Limited Corp. |
No |
Business Period |
13 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
|
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
163,553,000 |
Current Liabilities |
129,481,000 |
|
Inventories |
33,175,000 |
Long-term Liabilities |
122,879,000 |
|
Fixed Assets |
108,040,000 |
Other Liabilities |
6,052,000 |
|
Deferred Assets |
208,000 |
Total Liabilities |
258,412,000 |
|
Invest& other Assets |
62,207,000 |
Retained Earnings |
99,810,000 |
|
|
|
Net Worth |
108,771,000 |
|
Total Assets |
367,183,000 |
Total Liab. & Equity |
367,183,000 |
|
Total Assets (Previous Year) |
253,618,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
390,502,000 |
Net Profit(Prev.yr) |
4,628,000 |
MIRA INFORM REPORT
|
Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PVC CONVERTERS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7-B, Trust House, 7th Floor, 35 Hospital Avenue, Dr. E
Borges Road, Parel-400012, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.12.2000 |
|
|
|
|
Com. Reg. No.: |
11-129988 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.878 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24116MH2000PTC129988 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP12309D MUMP11566C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of PVC sheets and Films |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 430000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Current year of profit and loss account is not available. |
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 |
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 : |
7-B, Trust House, 7th Floor, 35 Hospital Avenue, Dr. E
Borges Road, Parel-400012, Maharashtra, India
|
|
Tel. No.: |
91-22-61331000 / 24110674 / 24110675 / 24110676 |
|
Fax No.: |
91-22-61331099 / 24110673 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No.60, 61, 72, Panchal Udyog Nagar, Bhimpore, Daman-396210 |
|
Tel No.: |
91-260-258269 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Raoul Ajai Verma |
|
Designation : |
Director |
|
Address : |
8, Ratnakar, Narayan Dabholkar Road, Mumbai-400006, Maharashtra, India
|
|
Date of Birth/Age : |
22.02.1981 |
|
Date of Appointment : |
01.09.2012 |
|
DIN No.: |
01559186 |
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 |
U24134MH1988PTC048062 |
THOR
POLYMERS PRIVATE LIMITED |
Director |
01/04/2005 |
01/04/2005 |
Active |
NO |
|
2 |
U74100MH2005PTC154917 |
INTERGRATED
KNOWLEDGE AND INFORMATION MANAGEMENT PRIVATE LIMITED |
Director |
20/07/2005 |
20/07/2005 |
Active |
NO |
|
3 |
U25200MH1986PTC038635 |
ANCHOR
ICE AND PLASTICS PRIVATE LIMITED |
Director |
31/03/2006 |
31/03/2006 |
Active |
NO |
|
4 |
U24130MH1986PTC041265 |
KUKRESA
PLASTICS PRIVATE LIMITED |
Director |
31/03/2006 |
31/03/2006 |
Active |
NO |
|
5 |
U99999MH1986PTC038997 |
RAKIM
INVESTMENTS PRIVATE LIMITED |
Director |
31/03/2006 |
31/03/2006 |
Active |
NO |
|
6 |
U24116MH2000PTC129988 |
PVC
CONVERTERS INDIA PRIVATE LIMITED |
Director |
01/09/2012 |
01/09/2012 |
Active |
NO
|
|
7 |
U51900MH1988PTC046207 |
SANAMEX
TRADING PRIVATE LIMITED |
Director |
29/09/2012 |
03/09/2012 |
Active |
NO |
|
Name : |
Ms. Kim Verma |
|
Designation : |
Director |
|
Address : |
8, Ratnakar, Narayan Dabholkar Road, Mumbai-400006, Maharashtra, India
|
|
Date of Birth/Age : |
17.06.1977 |
|
Date of Appointment : |
22.02.2001 |
|
DIN No.: |
00179163 |
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 |
U24116MH2000PTC129988 |
PVC
CONVERTERS INDIA PRIVATE LIMITED |
Director |
22/02/2001 |
22/02/2001 |
Active |
NO |
|
2 |
U24130MH1986PTC041265 |
KUKRESA
PLASTICS PRIVATE LIMITED |
Director |
19/07/2005 |
19/07/2005 |
Active |
NO |
|
3 |
U74100MH2005PTC154917 |
INTERGRATED
KNOWLEDGE AND INFORMATION MANAGEMENT PRIVATE LIMITED |
Director |
20/07/2005 |
20/07/2005 |
Active |
NO |
|
Name : |
Mr. Homiyar Bhumgar |
|
Designation : |
Director |
|
Address : |
A-2 Block, 2nd Floor, Avabai Petit Lane, Balaram Street,
Grant Road, Mumbai-400006, Maharashtra, India
|
|
Date of Birth/Age : |
22.06.1955 |
|
Date of Appointment : |
15.12.2000 |
|
DIN No.: |
00128531 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Kim Verma |
167667 |
|
Raoul Verma |
166667 |
|
Master Rishav Verma Through Natural Kawal Verma |
83333 |
|
Trustees of Rishav Accumulation Trust |
83333 |
|
Fazal M.K. Ali Manekia |
125000 |
|
Anil Nanda |
27000 |
|
Ajai Verma |
164800 |
|
Plastchem FZC, UAe |
70000 |
|
TOTAL
|
887800 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
21.96 |
|
Directors or relatives of Directors |
78.04 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of PVC sheets and Films |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Rigid and Flexible PVC Sheeting |
Tones per Annum |
7200 |
4936 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Patkar and Pendse Chartered Accountant |
|
Address : |
9/204, Chartered House, 297/298, Dr. Cawasji Hormasji Street, Marine
Lines, Mumbai-400002, Maharashtra, India |
|
Tel. No.: |
91-22-22060309 / 22062272 / 65224568 |
|
Fax No.: |
91-22-22060868 |
|
PAN No.: |
AAAFP2081Q |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
817800 |
Voting Rights Equity Shares |
Rs.10/- each |
Rs. 8.178
Millions |
|
70000 |
Non Voting Rights Preference Shares |
Rs.10/- each |
Rs. 0.700 Million |
|
|
TOTAL |
|
Rs. 8.878 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 |
8.878 |
6.250 |
6.250 |
|
|
2] Share Application Money |
0.083 |
19.272 |
19.272 |
|
|
3] Reserves & Surplus |
99.810 |
70.031 |
65.403 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
108.771 |
95.553 |
90.925 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
115.379 |
56.420 |
42.994 |
|
|
2] Unsecured Loans |
7.500 |
0.633 |
0.000 |
|
|
TOTAL BORROWING |
122.879 |
57.053 |
42.994 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.113 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
231.650 |
152.719 |
133.939 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
108.040 |
70.340 |
72.377 |
|
|
Capital work-in-progress |
62.207 |
1.179 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.208 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
33.175
|
30.048 |
23.464 |
|
|
Sundry Debtors |
93.464
|
95.194 |
99.744 |
|
|
Cash & Bank Balances |
14.201
|
8.462 |
6.960 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
55.888
|
48.395 |
43.104 |
|
Total
Current Assets |
196.728
|
182.099 |
173.272 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
98.182
|
87.519 |
109.384 |
|
|
Other Current Liabilities |
31.299
|
8.814 |
0.000 |
|
|
Provisions |
6.052
|
4.566 |
2.326 |
|
Total
Current Liabilities |
135.533
|
100.899 |
111.710 |
|
|
Net Current Assets |
61.195
|
81.200 |
61.562 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
231.650 |
152.719 |
133.939 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
390.502 |
323.968 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
373.795 |
311.285 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
373.795 |
311.285 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
6.661 |
7.498 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
2.033 |
1.887 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
4.628 |
5.611 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
59.706 |
63.917 |
|
|
TOTAL EARNINGS |
|
59.706 |
63.917 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
44.276 |
48.044 |
|
|
|
Capital Goods |
|
3.996 |
20.754 |
|
|
TOTAL IMPORTS |
|
48.272 |
68.798 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.01 |
0.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.71 |
2.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.64 |
3.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.07 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.89
|
0.60 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.80 |
1.55 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
Registered office has been shifted from 701-B, Poonam Chambers, Dr.
Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India to the present
address w.e.f.01.02.2012.
BACKGROUND
Subject incorporated on 12th December 2000 under the
provisions of Companies Act, 1956. The company is engaged in the manufacturing
and selling PVC sheets and Films. The company caters both domestic and
international market. The company has manufacturing units at Daman (Union
Territory of India) and Head Office in Mumbai.
The financial statements are prepared under the historical cost
convention, on the accrual basis of accounting, in accordance with accounting
principles generally accepted in India. (Indian GAAP) and (Accounting
Standards) Rules 2006, issued by the Institute of Chartered Accountants of
India and referred to in section 211(3C) of the Companies Act, 1956.
The accounting policies adopted in the preparation of financial
statements are consistent with those of previous year, except for the changes
in accounting policy explained below.
FORM 8
|
Corporate
identity number of the company |
U24116MH2000PTC129988 |
|
Name of the
company |
PVC CONVERTERS
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
7-B, Trust House, 7th Floor, 35 Hospital Avenue, Dr. E Borges Road, Parel-400012, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90237463 |
|
Type of charge |
|
|
Particular of
charge holder |
Indian Overseas Bank, Bandra (West) Branch, Radhasoami Apartments, T P S III, 36th Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Nature of
instrument creating charge |
Letter of
Hypothecation in F110E. |
|
Date of
instrument Creating the charge |
19.11.2012 |
|
Amount secured by
the charge |
Rs. 231.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Term Loan I /
Cash Credit : BR +3.50% p.a. (Presently at 14.00% p.a.) Term Loan II : BR
+ 3.75% p.a. (Presently at 14.25%p.a.) LG/ LC/ SL :
Secured PC/ FDDBP / FDUBD/ LG : As per Co Circular in force. Terms of repayment Cash Credit /LG/
LC/ SL: Secured PC/ FDDBP / FDUBD/ LG: Repayable on Demand. Term Loan I
(Rs.11.000 Millions): Repayable in 22 remaining installments. 21 installments
of Rs.0.305 Million and last installment of Rs.0.305 Million. Interest to be
serviced as and when debited. Term Loan II
(Rs.77.500 Millions): Repayable in 60 installments. 57 installment of
Rs.1.291 Millions and last installment of Rs.1.331 Millions. Interest to be
serviced as and when debited. Margin Term Loan I : 25% Term Loan II :
29% Cash Credit : 25%
on Stocks and Book debts. SL : Secured PC :
25% SL: FDDBP /FDUBD
: 15% Letter of Credit
: 15% Letter of
Guarantee : 25% Extent and operation of the charge The charge is to operate
as security, by way of first exclusive charge, for the due repayment of the
credit facilities aggregating to Rs.231.000 Millions together with interests, additional
interest, costs, charges, expenses and all other moneys payable by the
Company to the Bank from time to time in terms of sanction. Other Facility Existing Revised [Limits (Rs. in Millions)] ----------------- ------------ ----------- Term Loan I 11.000 11.000 Term Loan II 77.500 77.500 Cash Credit 60.000 75.000 SL-Secured
PC (7.000) (7.000) SL-FDDBP/ FDUBD
(5.000) (5.000) Letter of
Gtee. 2.500 2.500 Letter of
Credit 65.000 65.000 SL- LG (4.000) (4.000) |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation, by
way of first charge, of all the Company's : a)
Plant
and machinery purchased out of the term loan. b)
Stocks,
raw materials, work in progress, finished goods, consumable stores and spares
and other movables which are stored / situated at the Company's premises or
elsewhere. c)
Book
debts and other claims which are due and owing to the Company from time to
time. d)
Documents
of title to goods and Accepted Hundies / Merchandise under LC. e)
Counter
Guarantee of the Company. |
|
Date of
instrument modifying the charge |
19.06.2012 |
|
Particulars of
the present modification |
The amount secured
by the charge has been enhanced from Rs.216.000 Millions to Rs.231.000
Millions as detailed below: Facility Existing Revised [Limits (Rs. in Millions)] Term Loan I 11.000 11.000 Term Loan II 77.500 77.500 Cash Credit 60.000 75.000 SL-Secured
PC (7.000) (7.000) SL-FDDBP/ FDUBD
(5.000) (5.000) Letter of
Gtee. 2.500 2.500 Letter of
Credit 65.000 65.000 SL : LG (4.000) (4.000) |
FIXED ASSETS
- Freehold Land
- Factory
Building
- Borewell
- Plant and
Machinery
- Tools and
Equipments
- Moulds
- Office
Equipments
- Furniture and
Fixtures
- Electric
Installation
- Air
Conditioner
- Computer and
Accessories
- Motor Car
- Goodwill
-
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 records 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 Declaraion :
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. 54.44 |
|
|
1 |
Rs. 81.33 |
|
Euro |
1 |
Rs. 70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.