MIRA
INFORM REPORT
|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAVERA AUTO COMPS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Anjali Complex, Khadkeshwar, Aurangabad – 431001, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
11.09.1996 |
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Com. Reg. No.: |
11-102506 |
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Capital Investment
/ Paid-up Capital : |
Rs. 11.596 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299MH1996PTC102506 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES09900C |
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PAN No.: [Permanent Account No.] |
AADCS2490L |
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Legal Form : |
Private limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Home Furnishing Products. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. There appear huge external borrowings recorded by the company. There appears
some dip in the turnover of the company during 2012. It has incurred loss
from its operations. However, trade relations are fair. Business is active. Payments terms
are reported as slow but correct. The company van 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 |
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Restricted |
C2 |
|
Off-credit |
D |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Atul Moreshwar Save |
|
Designation : |
Director |
|
Contact No.: |
91-9825180828 |
|
Date : |
06.05.2013 |
LOCATIONS
|
Registered Office : |
Anjali Complex,
Khadkeshwar, Aurangabad – 431001, Maharashtra, India |
|
Tel. No.: |
91-240-2564008 |
|
Mobile No.: |
91-9823180828 (Mr. Atul Moreshwar Save) |
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Fax No.: |
91-240-2554486 |
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E-Mail : |
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Website : |
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Corporate Office (Engineering Division) : |
Plot No. F-2, MIDC Area, Waluj, Aurangabad – 431136,
Maharashtra, India |
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E-Mail : |
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Factory : |
K-88, MIDC Waluj, Aurangabad – 431133, Maharashtra, India |
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Tel. No.: |
91-240-2244240/ 2244243 |
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Fax No.: |
91-240-2244240 |
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E-Mail : |
DIRECTORS
As on: 16.07.2012
|
Name : |
Mr. Atul Moreshwar Save |
|
Designation : |
Director |
|
Address : |
Anjali Complex, Khadkeshwar, Aurangabad – 431001, Maharashtra, India |
|
Date of Birth/Age : |
26.02.1962 |
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Date of Appointment : |
11.09.1996 |
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DIN No.: |
00562021 |
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Name : |
Mr. Pritishkumar Amitkumar Chatterjee |
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Designation : |
Director |
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Address : |
Shantiniketan
Colony, Near Shani Mandir, Aurangabad – 431001, Maharashtra, India |
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Date of Birth/Age : |
11.12.1962 |
|
Date of Appointment : |
15.09.2002 |
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DIN No.: |
01296030 |
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|
|
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Name : |
Mrs. Tripti Pritishkumar Chatterjee |
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Designation : |
Director |
|
Address : |
104, Neelkant
Apartment, Golegaonkar Colony, Station Road, Aurangabad – 431005,
Maharashtra, India |
|
Date of Birth/Age : |
24.06.1965 |
|
Date of Appointment : |
11.09.1996 |
|
DIN No.: |
01377624 |
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|
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Name : |
Mr. Ajit Moreshwar Save |
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Designation : |
Director |
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Address : |
Anjali Complex, Khadkeshwar, Aurangabad – 431001, Maharashtra, India |
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Date of Birth/Age : |
18.02.1956 |
|
Date of Appointment : |
15.09.2002 |
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DIN No.: |
00561875 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 16.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Fully paid-up
Shares |
|
|
|
Save Moreshwar Atul |
|
303498 |
|
Chatterjee Amitkumar Pritishkumar |
|
115000 |
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Save Moreshwar Ajit |
|
24150 |
|
Save Moreshwar Leelawati |
|
44500 |
|
Chatterjee Pritishkumar Tripti |
|
40000 |
|
Save Dinanath Moreshwar |
|
25000 |
|
Save Ajit Meenal |
|
6500 |
|
Save Atul Anjali |
|
95500 |
|
Save Anil Anjali |
|
6500 |
|
Chatterjee Amitkumar Meera |
|
2500 |
|
Chatterjee Amitkumar |
|
9000 |
|
Dak Govind Narayan |
|
20000 |
|
Joshi Anna Chandrakant |
|
10000 |
|
Shuttari Kaushar |
|
20000 |
|
Thakur Ramesh |
|
12500 |
|
Kulkarni Madhukar |
|
9998 |
|
Integretared Automation and |
|
1 |
|
Jadhav Ashok |
|
1 |
|
|
|
1 |
|
Anjali Cinetorium Private Limited, |
|
1 |
|
Total
(A) |
|
744650 |
|
Partly paid-up
shares |
|
|
|
Indra Varun Sales Agencies Private Limited, India |
|
22000 |
|
Nova Corporate Services Private Limited, |
|
28000 |
|
Total
(B) |
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on: 16.07.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Home Furnishing Products. |
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Exports : |
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Products : |
Home Furnishing Products |
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Countries : |
·
Sweden ·
Europe ·
US ·
China ·
Russia |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Deogiri Nagari Sahakari Bank Limited, Waluj Branch, Waluj, |
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Facilities : |
·
Term Loan Rs. 45.000 Millions (From Deogiri
Nagari Sahakari Bank Limited) ·
L/C and WC Rs. 100.000 Millions (From Deogiri Nagari
Sahakari Bank Limited) |
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|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ashok Patil and Associates Chartered Accountants |
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Address : |
Veer Shanti, Kranti Chowk, |
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PAN.: |
ABFPP1555R |
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Group Companies : |
v
Savera Press Comps Private Limited v
Savera Precision Engg Private Limited v
Savera Mouldings Private Limited v
Savera Precision Engg (Private) Limited (Plating Unit) v
Savera Auto Comps Private Limited (Powder Coating
Division) |
CAPITAL STRUCTURE
As on: 16.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1134560 |
Equity Shares |
Rs.10/- each |
Rs. 11.346
Millions |
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As on: 31.03.2012
Authorised Capital : NA
Issued, Subscribed & Paid-up Capital : Rs. 11.596 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 |
11.596 |
7.696 |
6.436 |
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|
2] Share Application Money |
0.000 |
1.490 |
0.000 |
|
|
3] Reserves & Surplus |
29.689 |
37.941 |
35.674 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
41.285 |
47.127 |
42.110 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
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|
76.204 |
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2] Unsecured Loans |
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|
25.123 |
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TOTAL BORROWING |
160.192 |
144.216 |
101.327 |
|
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DEFERRED TAX LIABILITIES |
10.773 |
3.083 |
3.040 |
|
|
|
|
|
|
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TOTAL |
212.250 |
194.426 |
146.477 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
121.277 |
105.064 |
96.412 |
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Capital work-in-progress |
14.434 |
2.050 |
2.311 |
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|
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INVESTMENT |
6.499 |
5.699 |
5.092 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
156.117
|
122.576
|
84.561 |
|
|
Sundry Debtors |
68.927
|
69.474
|
48.763 |
|
|
Cash & Bank Balances |
15.821
|
7.087
|
5.221 |
|
|
Other Current Assets |
1.165
|
1.122
|
0.000 |
|
|
Loans & Advances |
103.233
|
38.883
|
21.466 |
|
Total
Current Assets |
345.263
|
239.142
|
160.011 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
260.907
|
148.487
|
114.452 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
14.316
|
9.042
|
2.897 |
|
Total
Current Liabilities |
275.223
|
157.529
|
117.349 |
|
|
Net Current Assets |
70.040
|
81.613
|
42.662 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
212.250 |
194.426 |
146.477 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
652.048 |
732.598 |
386.535 |
|
|
|
Other Income |
9.992 |
3.490 |
1.051 |
|
|
|
TOTAL |
662.040 |
736.088 |
387.586 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
648.319 |
721.836 |
375.801 |
|
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Advertising Expenses |
|
|
|
|
|
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TOTAL |
648.319 |
721.836 |
375.801 |
|
|
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
13.721 |
14.252 |
11.785 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.047 |
10.770 |
8.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.674 |
3.482 |
3.771 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.928 |
1.159 |
1.298 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(6.254) |
2.323 |
2.473 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(6.254) |
2.323 |
2.473 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
523.284 |
8.961 |
192.299 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
790.000 |
Expected Sales (2013-14) : Rs. 850.000 Millions
The above information has been parted by Mr. Atul
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.95)
|
0.32 |
0.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.26
|
0.47 |
0.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.36
|
1.01 |
1.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.88
|
3.06 |
2.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.52 |
1.36 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
v |
PERFORMANCE
During the year, the company has achieved net sales turnover of Rs. 652.048 Millions and has earned cash profit of Rs.12.120 Millions
The company's export turnover in the preceeding year was Rs.420.200 Millions where as during the year it has increased to Rs.541.600 Millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29299MH1996PTC102506 |
|
Name of the
company |
SAVERA AUTO COMPS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
"Anjali
Complex", Khadkeshwar, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80043524 |
|
Type of charge |
·
Immovable
Property ·
Book
Debts ·
Movable
Property ·
Floating
Charge |
|
Particular of charge
holder |
Deogiri Nagari
Sahakari Bank Limited, Waluj Branch, Waluj, E-Mail: accounts@deogiribank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of Correction. |
|
Date of
instrument Creating the charge |
13.02.2012 |
|
Amount secured by
the charge |
Rs.198.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 1. Interest @13%
or as may be fixed by the Bank or RBI from time to time. 2. Lead Bank
Service Charges @0.50 p.a. 3. In default
liquidated damages @2.50% Terms of Repayment: As specified. Margin: Margin 25% Extent and Operation of the charge: Till repayment. Others: Personal
guarantee of Directors / guarantors. |
|
Short particulars
of the property charged |
First charge on
moveables, stock debtors. New and old plant and machinery of Savera Auto
Comps. Private Limited. situated at K-88, Waluj, and Plant and Machinery of
Savera Auto Comps. Private Limited at Plot No.57, Gut No.34,
Ranjangaon, Tq.Gangapur, Dist.Aurangabad. Mortgage and
First charge on A. All the piece
and parcel of the land known as Plot No.K-88 in the Waluj Industrial Area,
within the village limits of Ranjangaon and outside limits of Aurangabad
Municipal Corporation in rural area, Ta. and Reg. Sub.-District Gangapur,
Dist. and Reg. Dist. Aurangabad containing by adm. 2181 sq. mtrs. B. All the piece
and parcel of land Gut No.34 to the extent of 20R i.e. 2027 sq. mtrs. along
with any future development thereon, situated at Ranjangaon Shenpunji, Tq.
Gangapur, District Aurangabad. More particularly
described in Schedule. |
|
Date of latest modification
prior to the present modification |
09.12.2010 |
|
Particulars of
the present modification |
By present
agreements charge modified and increased to Rs.198.000 Millions |
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. 53.95 |
|
|
1 |
Rs. 84.03 |
|
Euro |
1 |
Rs. 70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.