1. Summary Information
|
Country |
India |
||
|
Company Name |
CIPY POLY
URETHANES PRIVATE LIMITED |
Principal Name 1 |
Mr. Subhash
Cheralayathpanku Cipy |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Sabitha
Subash Cipy |
|
Registration # |
11-083328 |
||
|
Street Address |
T –127, MIDC Industrial Area, Bhosari,
Pune – 411026, Maharashtra, India |
||
|
Established Date |
29.11.1994 |
SIC Code |
-- |
|
Telephone# |
91-20-66316400/ 27121706/ 27122586 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-20-66316460/ 27120491 |
Business Style 2 |
Polyurethane paints |
|
Homepage |
Product Name 1 |
Varnishes and Lacquers |
|
|
# of employees |
120
(Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 9,416,600/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors = 100.00% |
Banking |
Axis Bank |
|
Public Limited Corp. |
No |
Business Period |
18 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (49) |
|
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 |
421,158,000 |
Current Liabilities |
289,756,000 |
|
Inventories |
85,104,000 |
Long-term Liabilities |
159,657,000 |
|
Fixed Assets |
266,468,000 |
Other Liabilities |
30,693,000 |
|
Deferred Assets |
0.000 |
Total Liabilities |
480,106,000 |
|
Invest& other Assets |
3,381,000 |
Retained Earnings |
286,588,000 |
|
|
|
Net Worth |
296,005,000 |
|
Total Assets |
776,111,000 |
Total Liab. & Equity |
776,111,000 |
|
Total Assets (Previous Year) |
270,297,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
789,560,000 |
Net Profit |
56,334,000 |
|
Sales(Previous yr) |
725,295,000 |
Net Profit(Prev.yr) |
30,635,000 |
MIRA INFORM REPORT
|
Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CIPY POLY URETHANES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
T –127, MIDC
Industrial Area, Bhosari, Pune – 411026, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.11.1994 |
|
|
|
|
Com. Reg. No.: |
11-083328 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.9.417 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24219PN1994PTC083328 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC00821C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC7264R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Polyurethane paints, varnishes and lacquers |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
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. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan and cash Credit = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
November 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
November 2011 |
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 / Factory Corporate
Office: |
T –127, MIDC Industrial
Area, Bhosari, Pune – 411026, Maharashtra, India |
|
Tel. No.: |
91-20-66316400/ 27121706/ 27122586 |
|
Fax No.: |
91-20-66316460/ 27120491 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Global Industrial Estate, Shirwal, District Satara, Maharashtra, India
|
|
|
|
|
Branch Office : |
Located at:
|
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Subhash
Cheralayathpanku Cipy |
|
Designation : |
Managing Director |
|
Address : |
Ritu, 11, |
|
Date of Birth/Age : |
16.05.1953 |
|
Qualification : |
B.E Chemicals |
|
Date of Appointment : |
31.12.2011 |
|
DIN No.: |
00608724 |
|
|
|
|
Name : |
Mrs. Sabitha
Subash Cipy |
|
Designation : |
Director |
|
Address : |
Ritu, 11, |
|
Date of Birth/Age : |
06.06.1960 |
|
Date of Appointment : |
29.11.1994 |
|
DIN No.: |
00386708 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Subhash Cipy,
Ritu |
|
21452 |
|
Sabita Cipy, Ritu |
|
72714 |
|
Total |
|
94166 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polyurethane paints, varnishes and
lacquers |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
120 (Approximately) |
|||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Indian Bank, Deccan Gymnkhana, Pune – 411004, Maharashtra, India
|
|||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D. R. Barve and Associates Chartered Accountants |
|
Address : |
461/1, Sadashiv Peth, Tilak Road, Pune – 411030, Maharashtra, India |
|
Tel. No.: |
91-20-24455414/
24453592 |
|
E-Mail : |
|
|
PAN.: |
AADFD3147J |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity shares |
Rs.100/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94166 |
Equity Shares |
Rs.100/-
each |
Rs.9.417
Millions |
|
|
|
|
|
Reconciliation of the
number of Shares Outstanding:
|
Particulars |
Numbers |
Amount in Millions |
|
Equity Shares Outstanding at the beginning of the year |
90,036 |
9.004 |
|
Equity Shares Issued/Alloted during the |
4,130 |
0.413 |
|
Equity Shares
Outstanding at the end |
94,166 |
9.417 |
Shareholders' holding
more than 5% Shares of the Company:
|
Name of the
Shareholder |
Numbers |
% |
|
Subash Cipy |
21452 |
22.78% |
|
Sabitha Cipy |
72714 |
77.22% |
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 |
9.417 |
9.004 |
9.004 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
286.588 |
182.095 |
151.503 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
296.005 |
191.099 |
160.507 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
153.973 |
149.607 |
115.631 |
|
|
2] Unsecured Loans |
5.684 |
0.003 |
0.268 |
|
|
TOTAL BORROWING |
159.657 |
149.610 |
115.899 |
|
|
DEFERRED TAX LIABILITIES |
12.512 |
7.435 |
5.452 |
|
|
|
|
|
|
|
|
TOTAL |
468.174 |
348.144 |
281.858 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
266.468 |
194.175 |
104.909 |
|
|
Capital work-in-progress |
3.381 |
1.984 |
4.098 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
85.104
|
45.359 |
41.980
|
|
|
Sundry Debtors |
326.911
|
252.843 |
253.229
|
|
|
Cash & Bank Balances |
50.719
|
53.647 |
36.383
|
|
|
Other Current Assets |
21.940
|
7.860 |
0.000
|
|
|
Loans & Advances |
21.588
|
14.429 |
13.528
|
|
Total
Current Assets |
506.262
|
374.138 |
345.120 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
222.566
|
166.457 |
154.367
|
|
|
Other Current Liabilities |
67.190
|
45.245 |
17.902
|
|
|
Provisions |
18.181
|
10.451 |
0.000
|
|
Total
Current Liabilities |
307.937
|
222.153 |
172.269 |
|
|
Net Current Assets |
198.325
|
151.985 |
172.851 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
468.174 |
348.144 |
281.858 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
789.560 |
725.295 |
559.323 |
|
|
|
Other Income |
14.257 |
6.475 |
3.892 |
|
|
|
TOTAL (A) |
803.817 |
731.770 |
563.215 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
477.195 |
457.121 |
|
|
|
|
Changes in inventories of finished goods work-inprogress and Stock-in-Trade |
(10.589) |
0.239 |
491.926 |
|
|
|
Manufacturing Expenses |
111.989 |
82.535 |
|
|
|
|
Employee benefits expense |
47.369 |
44.151 |
|
|
|
|
Other expenses |
59.467 |
76.517 |
|
|
|
|
Exceptional items |
0.296 |
0.000 |
|
|
|
|
TOTAL (B) |
685.727 |
660.563 |
491.926 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
118.090 |
71.207 |
71.289 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.344 |
15.962 |
14.859 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
93.746 |
55.245 |
56.430 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.448 |
5.547 |
4.537 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
84.298 |
46.698 |
51.893 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.964 |
16.063 |
17.556 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
56.334 |
30.635 |
34.337 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
20.423 |
31.987 |
78.968 |
|
|
TOTAL EARNINGS |
20.423 |
31.987 |
78.968 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Capital Goods, etc |
22.722 |
15.743 |
14.344 |
|
|
TOTAL IMPORTS |
22.722 |
15.743 |
14.344 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
619.58 |
340.26 |
381.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.01
|
4.19 |
6.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.68
|
6.44 |
9.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.91
|
8.22 |
11.53
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.24 |
0.32
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54
|
0.78 |
0.72
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.68 |
2.00
|
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 |
No |
|
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 |
BUSINESS TRANSFER
AGREEMENT
Their Company has entered into a Business Transfer Agreement with Specialty Coatings a proprietary concern and M/s R.R. Floorings a Registered Partnership Firm for purchase and acquisition of its entire running business as a going concern on the basis of Net Worth as on March 31, 2011 on the terms and conditions as stipulated therein.
BACKGROUND:
Specialty Coatings, a proprietary concern was engaged in the business of procuring of coats, paints, chemicals and related products primarily from their company and further, sale thereof to the customers through application contracts. Since the concern was procuring majority of inputs from their company and considering the company’s interests of ensuring consolidation of business activities, the concern agreed to transfer entire business on a going concern basis to their company for a lump sum consideration, with effect from January 1, 2012.
The Registered Partnership Firm M/s R.R. Floorings was engaged in the business of procuring of chemicals and other raw material, processing and supply thereof primarily to their company. Since the firm was selling its majority of the output to their company and considering the business interests of both the parties. The firm agreed to transfer the entire business on a going concern basis to their company for a lump-sum consideration, with effect from January 1, 2012.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
- From Directors |
5.684 |
0.003 |
|
Total |
5.684 |
0.003 |
CONTINGENT
LIABILITIES: (AS ON 31.03.2012)
- For Bank guarantees Given Rs.18.361 Millions
- Income Tax Appeal Rs.0.919 Million
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U24219PN1994PTC083328 |
|
Name of the
company |
CIPY POLY
URETHANES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
T-127, MIDC, Industrial Area, Bhosari, Pune – 411026, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10048089 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) · Floating charge |
|
Particular of
charge holder |
Axis Bank Limited, Corporate Banking Branch,214/215,City Mall, 2nd Floor, Ganeshkhind Road, Near Pune University, Pune – 411007, Maharashtra, India |
|
Nature of instrument
creating charge |
1) Supplemental
Deed of Hypothecation 2) Amendment Cum
Link Agreement (Both the
documents executed for a single modification) |
|
Date of
instrument Creating the charge |
06.11.2012 |
|
Amount secured by
the charge |
Rs.338.700
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan
III,IV,V,VI - Base Rate + 3.25% i.e. presently 13.25% p.a.,payable monthly(present
Base Rate being 10% p.a.) or the rate as may be prescribed by Bank from time
to Time. Terms of Repayment As per Agreement
with the Bank Margin As per Agreement
with the Bank Extent and Operation of the charge Exclusive charge
of Axis Bank Limited. Details of
Facilities (Rs. in Millions): Cash Credit 1375,EPC/PSC 125,Term Loan III
19,Term Loan IV 53, Term Loan V 62, Term Loan VI 528,Inland/Import Letter of
Credit 700,Bank Guarantee 525, LER(Sub-Limit of Cash Credit) (40),Total
Rs.338.700 Millions. The charge on
hypothecated assets and mortgaged properties shall continue till full
repayment of Loan. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypo.of : 1)
All tangible movable machineries, Plant and
Machinery, fixture, Fittings, Other installation Cranes, furniture,
computers, other accessories vehicles together with spares tools and accessories at T
127,MIDC,Bhosari or at Gat No.1122,1129,1140,1295,1296 at Shirwal 2)
All mov goods and assets, stock, r.m., semi finished and finished goods. 3)
All Present and future Book debts, Bills, Contracts, O/S,
Receivables. Mortgage of
immovable properties of Company : 1)
All that piece and parcel of the property/ies
bearing Plot No. T-127 in Block "T", Bhosari Industrial Area
admeasuring 2337 sq. mtrs. along with factory building admeasuring 778.91 sq.
mtrs. constructed on the said land consisting of Office Building, Shed No.1
and Shed NO.2 with Cycle stand situated at Village Pimpri Waghere, Pune. 2)
All that piece and parcel of the property/ies
bearing Plot No. T-128 in Block "T", Bhosari Industrial Area
admeasuring 2242 sq. mtrs. along with factory building of 1137.26 sq. mtrs.
Constructed in, "T" Block, Pimpri Industrial Area of MIDC, Village
Bhosari, Taluka Haveli, District Pune. 3)
All that
piece and parcel of land or ground being a contiguous block admeasuring 55
Hectar 21.50 Aar formed of lands/portions admeasuring (i) 00 Hectare
71.00 Aar from Gat no. 1122 (part) (ii) 00 Hectare
14.50 Aar from Gat no. 1129 (part) (iii) 00 Hectare
35.00 Aar from Gat no. 1140 (part) (iv) 40 Hectare
35.00 Aar bearing Gat nos. 1295 (part), Hissa Nos. 1 to 10 and (v) 13 Hectare
66.00 Aar bearing Gat no. 1296, Hissa Nos. 1 to 10. At Village
Shirwal, Taluka Khandala, District Satara. Mortgage of immovable property of
Subhash Cipy: All that piece and parcel of the land property bearing S. No.
3/2 (Old S. No. 60/2), Plot Hissa No.15 admeasuring about 2790 sq.
mtrs.situated at Village Vitthalnagar, Taluka Haveli, Dist. Pune. |
|
Date of
instrument modifying the charge |
01.10.2012 |
|
Particulars of
the present modification |
Facilities are
enhanced by Rs.117500 Millions Hence the total of Facilities is Rs.338.700
Millions Charge on hypothecated assets is extended to secure the total
facilities availed by the Company. Also, Amendment cum Link Agreement is
executed as the Interest Rate in relation to Term Loans III, IV, V and VI is
changed. Modified Interest Rate is: Base Rate + 3.25% i.e. presently 13.25%
p.a., payable monthly (present Base Rate being 10% p.a.) |
FIXED ASSETS
- Land
- Buildings
- Plant and
Machinery
- Laboratories
Equipments
- Electric
Installation
- Transformer
- Furniture and fixture
- Office Equipment
· Vehicles
· 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.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.