1. Summary Information
|
Country |
India |
||
|
Company Name |
NEXT RETAIL
INDIA LIMITED |
Principal Name 1 |
Mr.
Krishnamahari Soundrarajan Raman |
|
Status |
Moderate |
Principal Name 2 |
Mr. Sanjay Jugalkishore Karwa |
|
Registration # |
11-143371 |
||
|
Street Address |
Auto Cars Compound, |
||
|
Established Date |
04.12.2003 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Distributors |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Electronics |
|
|
# of employees |
1200 [Approximately] |
Product Name 2 |
Electrical Appliances |
|
Paid up capital |
Rs.1,112,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies
corporate 91.01%, Directors or relatives of directors 1.80%, Other top fifty shareholders 7.19% |
Banking |
IDBI Bank |
|
Public Limited Corp. |
No |
Business Period |
10 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
` |
-- |
Planet M Retails Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
5,225,050,000 |
Current Liabilities |
1,454,974,000 |
|
Inventories |
3,939,265,000 |
Long-term Liabilities |
6,579,200,000 |
|
Fixed Assets |
419,447,000 |
Other Liabilities |
27,125,000 |
|
Deferred Assets |
000 |
Total Liabilities |
8,061,299,000 |
|
Invest& other Assets |
84,362,000 |
Retained Earnings |
494,825,000 |
|
|
|
Net Worth |
1,606,825,000 |
|
Total Assets |
9,668,124,000 |
Total Liab. & Equity |
9,668,124,000 |
|
Total Assets (Previous Year) |
6,079,355,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
12,532,960,000 |
Net Profit |
17,741,000 |
|
Sales(Previous yr) |
10,925,823,000 |
Net Profit(Prev.yr) |
23,111,000 |
|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEXT RETAIL INDIA LIMITED (w.e.f. 26.04.2007) |
|
|
|
|
Formerly Known As : |
E MART INDIA LIMITED |
|
|
|
|
Registered Office : |
Auto Cars Compound, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
04.12.2003 |
|
|
|
|
Com. Reg. No.: |
11-143371 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1112.000
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51395MH2003PLC143371 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
NSKE00404F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCE3142P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Distributors of Electronics and Electrical Appliances. |
|
|
|
|
No. of Employees
: |
1200 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6420000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Videocon Group. It is an established company having a moderate track record. The latest
financials are not made available with the government department. As per previous year’s, the profitability of the company appears to be
low. The external borrowing seems to be huge. However, the subject gets support from its group companies. Trade
relations are reported to be fair. Business is active. Payments are unknown. 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) |
|
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 : |
Auto Cars Compound, Adalat Road, Aurangabad – 431005, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 sq ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office/ Factory : |
1st Floor, Shiv Ashish, Behind Lathia Rubber, Andheri Kurla
Road, Sakinaka, Andheri (East), Mumbai – 400072, Maharashtra, India. |
|
Tel. No.: |
91-22-66897500 |
|
Fax No.: |
91-22-28598484 |
|
E-Mail : |
|
|
Area : |
25000 sq ft |
|
Location : |
Owned |
|
|
|
|
Mumbai Head
Office 1 : |
Techweb Centre, Ground Floor, Next to Raigad Military School, New Link
Road, Beharam Bagh, Oshiwara, Jogeshwari (West), Mumbai-400102, Maharashtra,
India. |
|
Tel No.: |
91-22-42553000 |
|
|
|
|
Gurgaon Head
Office 2 : |
Plot No. 296, 7th Floor, Udyog Vihar, Phase – II, Gurgaoan
– 122015, |
|
Tel No.: |
91-124-3301700 |
|
|
|
|
Branch Office : |
Located At: North and East
India ·
Gurgaon ·
Lucknow ·
Ghaziabad ·
Chandigarh ·
Jaipur ·
Kolkata Central India ·
Ranchi ·
Raipur ·
Indore ·
Nagpur West India · Mumbai · Pune · Nasik · Aurangabad · Surat · Ahmedabad South India ·
Bangalore ·
Hyderabad ·
Vijayawada ·
Tirupati ·
Calicut ·
Cochin ·
Chennai ·
Madurai |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Krishnamahari Soundrarajan Raman |
|
Designation : |
Director |
|
Address : |
67, |
|
Date of Birth/Age : |
17.07.1947 |
|
Date of Appointment : |
06.11.2004 |
|
DIN : |
00096768 |
|
|
|
|
Name : |
Mr. Sanjay Jugalkishore Karwa |
|
Designation : |
Director |
|
Address : |
Flat No. 39, Ahinsa Nagar,
Aurangabad-431001, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1967 |
|
Date of Appointment : |
06.01.2012 |
|
DIN : |
03602469 |
|
|
|
|
Name : |
Mrs. Radhika Saurabh Dhoot |
|
Designation : |
Additional Director |
|
Address : |
House No.61, Sector 5, Chandigarh – 160005,
India |
|
Date of Birth/Age : |
27.01.1984 |
|
Date of Appointment : |
06.01.2012 |
|
DIN : |
00007727 |
KEY EXECUTIVES
|
Name : |
Mr. Bipinchandra Madhav Joglekar |
|
Designation : |
Secretary |
|
Address : |
Plot No. 39, Manas Building, Sudarshan
Nagar, Chinchwad, Pune-411033, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1987 |
|
Date of Appointment : |
10.09.2012 |
|
Pan No.: |
AMXPJ2768D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Platinum
Appliances Private Limited (Formerly: Dhoot Brothers Investment Company
Private Limited), India |
|
36000 |
|
Synergy
Appliances Private Limited (Formerly: R. N. Dhoot Investment Company Private
Limited), India |
|
36000 |
|
Dome-bell
Electronics India Private Limited, India |
|
15036000 |
|
Videocon
Industries Limited, A India |
|
21036000 |
|
Greenfield
Appliances Private Limited (Formerly: Keshar Dhoot Investment Company Private
Limited), India |
|
36000 |
|
Shree
Dhoot Trading and Agencies Limited, India |
|
15010000 |
|
Solitaire
Appliances Private Limited (Formerly: V. N. Dhoot Investment Company Private
Limited), India |
|
10000 |
|
Force
Appliances Private Limited (Formerly: Videocon Exports Private Limited), India |
|
15000000 |
|
Applicomp
(India) Limited, India |
|
15000000 |
|
Electroparts
(India) Private Limited, India |
|
10000000 |
|
TekCare
India Private Limited (Formerly: Macotax Consultants Private Limited), India |
|
5000000 |
|
Waluj
Components Private Limited, India |
|
5000000 |
|
Anirudha
V. Dhoot |
|
2000000 |
|
Saurabh
P. Dhoot |
|
2000000 |
|
Venugopal
N. Dhoot |
|
2000000 |
|
Pradipkumar
N. Dhoot |
|
2000000 |
|
Rajkumar
N. Dhoot |
|
2000000 |
|
|
|
|
|
TOTAL |
|
111200000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
91.01 |
|
Directors
or relatives of directors |
|
1.80 |
|
Other
top fifty shareholders |
|
7.19 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributors of Electronics and Electrical Appliances. |
GENERAL INFORMATION
|
No. of Employees : |
1200 [Approximately] |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
KSS and Company Chartered Accountant |
|
Address : |
3801, |
|
PAN No: |
AAIFK3397A |
|
|
|
|
Subsidiary : |
· Planet M Retails Limited [U70102MH2007PTC167606] |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
111200000 |
Equity Shares |
Rs.10/- each
|
Rs.1112.000
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1112.000 |
1112.000 |
1002.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1000.000 |
|
|
3] Reserves & Surplus |
494.825 |
477.084 |
13.874 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1606.825 |
1589.084 |
2015.874 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3040.525 |
2349.067 |
2300.646 |
|
|
2] Unsecured Loans |
3538.675 |
999.990 |
997.851 |
|
|
TOTAL BORROWING |
6579.200 |
3349.057 |
3298.497 |
|
|
DEFERRED TAX LIABILITIES |
20.481 |
9.652 |
12.718 |
|
|
|
|
|
|
|
|
TOTAL |
8206.506 |
4947.793 |
5327.089 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
419.447 |
388.056 |
328.793 |
|
|
Capital work-in-progress |
82.272 |
82.342 |
77.284 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.090 |
11.000 |
11.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3939.265
|
3290.583
|
2969.982
|
|
|
Sundry Debtors |
1709.101
|
1137.888
|
901.904
|
|
|
Cash & Bank Balances |
1570.779
|
180.266
|
266.953
|
|
|
Other Current Assets |
152.662
|
130.430
|
159.175
|
|
|
Loans & Advances |
1792.508
|
858.790
|
1998.882
|
|
Total
Current Assets |
9164.315
|
5597.957 |
6296.896
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1149.169
|
849.408
|
1238.906
|
|
|
Other Current Liabilities |
305.805
|
277.251
|
144.668
|
|
|
Provisions |
6.644
|
4.903
|
3.310
|
|
Total
Current Liabilities |
1461.618
|
1131.562 |
1386.884
|
|
|
Net Current Assets |
7702.697
|
4466.395 |
4910.012
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8206.506 |
4947.793 |
5327.089 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12532.960 |
10925.823 |
8270.988 |
|
|
|
Other Income |
58.783 |
14.267 |
157.959 |
|
|
|
TOTAL |
12591.743 |
10940.090 |
8428.947 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
9956.749 |
9392.457 |
6965.676 |
|
|
|
Salaries wages and employee’s benefits Expenses |
343.318 |
280.864 |
284.168 |
|
|
|
Operating and other Expenses |
1591.831 |
855.146 |
878.651 |
|
|
|
TOTAL |
11891.898 |
10528.467 |
8128.495 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
699.845 |
411.623 |
300.452 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
628.581 |
350.572 |
248.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
71.264 |
61.051 |
51.454 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
40.910 |
41.004 |
31.158 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
30.354 |
20.047 |
20.296 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.613 |
3.410 |
4.491 |
|
|
|
|
|
|
|
|
|
Add |
DEFERRED TAX |
-- |
3.067 |
(14.243) |
|
|
|
|
|
|
|
|
|
|
MAT CREDIT
ENTITLEMENT |
-- |
3.407 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
17.741 |
23.111 |
1.562 |
|
|
|
|
|
|
|
|
|
Add |
[Short] / Excess
provision of income tax / fringe benefit tax for earlier years written back |
-- |
0.099 |
0.094 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
37.084 |
13.874 |
12.218 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
54.825 |
37.084 |
13.874 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.16 |
0.22 |
0.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.14
|
0.21
|
0.02
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.24
|
0.18
|
0.24
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.32
|
0.33
|
0.31
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.01
|
0.01
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.09
|
2.10
|
1.64
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.27
|
4.95
|
4.54
|
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS:
The Company has
earned a total income of Rs.12591.740 millions as against Rs.10940.090 millions
for the previous year representing an increase of 15.10% as compared to the
previous year. Total Expenditure amounted to Rs.12561.380 millions as against
Rs.10920.040 millions and the Net Profit after Tax amounted to Rs.18.040
millions as against Rs.23.110 million for the previous year.
The Company has
made a steady growth in the field of trading of Electrical and Electronic
Appliances and there has been a considerable increase in the number of retail
outlets of the Company throughout India.
During the year,
Planet ‘M’ Retail Limited ceased to be the subsidiary of the Company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U51395MH2003PLC143371 |
|
Name of the
company |
NEXT RETAIL INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Auto Cars Compoundadalat
Road, Aurangabad- 431005, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property (not being pledge) |
|
Particular of
charge holder |
IDBI Bank Limited IDBI Towerwtc Complex, Cuffe Parade, Mumbai – 400005, Maharashtra,
India. Email: ya.mankad@idbi.co.in CIN No.: L65190MH2004GOI148838 |
|
Nature of instrument
creating charge |
Deed of
Hypothecation dated 18.02.2012 executed by Next Retail India Limited (the
Company) in favour of IDBI Bank Limited (the Bank). |
|
Date of
instrument Creating the charge |
18/02/2012 |
|
Amount secured by
the charge |
Rs.30250.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
– Floating rate of
interest equivalent to IDBI Bank Base Rate Plus a Spread of 375 bps
(currently equivalent to 14.50% p.a.). Terms of
Repayment – 12 months from
the date of first disbursement. Extent and
Operation of the charge Financial
Assistance together with all interest at the agreed rates, liquidated
damages, premia on prepayment or on redemption, costs, expenses and other
monies are secured by Subservient Charge by way of hypothecation of the
Companies entire movable properties and all the current assets, including
book debts, both present and future, Others – Other terms and
conditions as may be agreed to between the Company and the Bank from time to
time. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Subservient
Charge by way of hypothecation of the Company’s movable properties, including
plant and machinery, machinery spares, tools and accessories, furniture and
fixtures, vehicles and all the current assets, both present and future,
including but not limited to book debts, receivables, stock of raw materials,
consumable stores, etc. both present and future, whether installed or not and
whether now lying loose or in cases or which are now lying or stored in or
about or shall hereafter from time to time during the continuance of
financial assistance be brought into or upon or be stored or be in or about
all the Companies offices, factories, premises and godowns or wherever else
the same may be or be held by any party to the order or disposition of the
Company or in the course of transit or on high seas or on order or delivery. (Hereinafter referred
to as Hypothecated Assets). The Hypothecated Assets are hereby hypothecated/
charged/ assigned for securing the Interim Facility together with all
interest at the agreed rates, liquidated
damages, premia on prepayment or on redemption, costs, expenses and other
monies whatsoever stipulated in the Interim Facility Agreement. |
FIXED ASSETS:
·
Building
·
Plant and Machinery
·
Office Equipment
·
Computer
·
Furniture and Fixture
·
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 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 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.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.