MIRA INFORM REPORT
|
Report Date : |
06.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
CORRTECH INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
51, Mahagujarat Industrial Estate, Opposite Nova Petrochemicals, Sarkhej
– Bavla Highway, Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
08.06.1982 |
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|
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|
Com. Reg. No.: |
04-038664 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs. 145.450 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130GJ1982PTC038664 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC00080D |
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|
|
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Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The Subject is engaged in the business of Pipeline
Construction, Cathodic Protection Systems and Horizontal Directional Drilling
(HDD). |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000000 |
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|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in place
to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank (BB +) |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation |
|
Date |
February 2012 |
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 DECLINED BY
|
Name : |
Mr. Kalpesh Bhavsar |
|
Designation : |
Finance Manager |
|
Tel No.: |
91-2717-304100 |
|
Date : |
29.10.2013 |
LOCATIONS
|
Registered Office/ Factory/ Pipeline Division : |
51, Mahagujarat Industrial Estate, Opposite Nova Petrochemicals, Sarkhej
– Bavla Highway, Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat,
India |
|
Tel. No.: |
91-2717-304100 to 199 |
|
Fax No.: |
91-2717- 304150 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Cathodic Protection System Division : |
22, Dhara Centre, Vijay Cross Roads, Navrangpura, Ahmedabad – 380009, |
|
Tel. No.: |
91-79-26563443 / 26420119 / 39873100/ 26420118/ 26568639/ 26563443/ 26568639/
26424400/ 26420118 |
|
Fax No.: |
91-79-26431615 |
|
|
|
|
Factory 2 : |
Shed No.7, Survey No.407, SP – 3, New Ahmedabad Industrial Estate, Near Sarvoday Hotel, Sarkhej Bavla Road, Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Sandeep Indrasen Mittal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
D -33, Aryaman Bunglows, Next to Railway Crossing, Thaltej Shilaj
Road, Shilaj, Ahmedabad - 380059,Gujarat, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.04.1968 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.08.1997 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01643818 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AFRPM1147C |
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|
Other
Directorship:
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Amit Indrasen Mittal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
38,
Akashneem, Opposite Nehru Foundation, Bodakdev, Ahmedabad - 380054, Gujarat,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.08.1966 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
20.03.1997 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01644010 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ABOPM5343D |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Devendra Jaswant Singh Rajput |
|
Designation : |
Secretary |
|
Address : |
13, Arbudadevi Society, Part-1, Near Chandlodiya Railway Station,
Chanakapuri Road, Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
10.10.1970 |
|
Date of Appointment : |
31.03.2009 |
|
PAN No.: |
ABMPR1234J |
|
|
|
|
Name : |
Mr. Kalpesh Bhavsar |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Sandeep Mittal |
|
2393995 |
|
Amit Mittal |
|
2306060 |
|
I.S. Mittal HUF |
|
121700 |
|
Kavita A. Mittal |
|
1074370 |
|
Harinis. Mittal |
|
986435 |
|
IEC Projects
Limited |
|
1407000 |
|
Shailesh Javia |
|
1500 |
|
Axis Infrastructure Fund
1, India |
|
3781700 |
|
In The Joint Name
of Shashibala Mittal, Amit Mittal and Kavita A. Mittal |
|
1236120 |
|
In The
Joint Name of Shashibala Mittal, Sandeep Mittal and Harini S. Mittal |
|
1236120 |
|
|
|
|
|
Total |
|
14545000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
35.67 |
|
Directors or relatives of Directors |
64.33 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the business of Pipeline
Construction, Cathodic Protection Systems and Horizontal Directional Drilling
(HDD). |
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|
||||
|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
3rd Floor 'Heritage' Near Gujrath Vidya Pith of Fashram
Road Ahmedabad – 380014, Gujarat, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Subsidiary company: |
(CIN: U52330GJ2000PLC037925)
(CIN: U40200GJ2005PTC047122) |
|
|
|
|
Others: |
(CIN: U29260GJ2006PTC047602) |
|
|
|
|
Joint venture: |
(CIN: U45209GJ2010PTC061458) |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives |
(CIN: U45201GJ2002PLC041686) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14545000 |
Equity Shares |
Rs.10/- each |
Rs. 145.450 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
145.450 |
145.450 |
|
(b) Reserves & Surplus |
|
865.448 |
821.139 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1010.898 |
966.589 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
447.014 |
319.398 |
|
(b) Deferred tax liabilities (Net) |
|
125.721 |
114.180 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
1.204 |
1.393 |
|
Total Non-current
Liabilities (3) |
|
573.939 |
434.971 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
685.927 |
618.172 |
|
(b) Trade
payables |
|
512.701 |
620.553 |
|
(c) Other
current liabilities |
|
709.692 |
558.799 |
|
(d) Short-term
provisions |
|
49.411 |
15.962 |
|
Total Current
Liabilities (4) |
|
1957.731 |
1813.486 |
|
|
|
|
|
|
TOTAL |
|
3542.568 |
3215.046 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1495.489 |
1485.630 |
|
(ii)
Intangible Assets |
|
4.236 |
5.533 |
|
(iii)
Capital work-in-progress |
|
0.000 |
48.934 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
120.078 |
120.078 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
17.341 |
7.367 |
|
(e) Other
Non-current assets |
|
15.121 |
84.451 |
|
Total Non-Current
Assets |
|
1652.265 |
1751.993 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
656.561 |
560.007 |
|
(c) Trade
receivables |
|
691.486 |
537.140 |
|
(d) Cash
and cash equivalents |
|
176.523 |
86.653 |
|
(e)
Short-term loans and advances |
|
341.887 |
260.274 |
|
(f) Other
current assets |
|
23.846 |
18.979 |
|
Total
Current Assets |
|
1890.303 |
1463.053 |
|
|
|
|
|
|
TOTAL |
|
3542.568 |
3215.046 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
145.450 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1044.941 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1190.391 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1049.546 |
|
|
2] Unsecured Loans |
|
|
114.220 |
|
|
TOTAL BORROWING |
|
|
1163.766 |
|
|
DEFERRED TAX LIABILITIES |
|
|
59.976 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2414.133 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1238.724 |
|
|
Capital work-in-progress |
|
|
134.949 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
115.078 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
389.240 |
|
|
Sundry Debtors |
|
|
682.190 |
|
|
Cash & Bank Balances |
|
|
136.433 |
|
|
Other Current Assets |
|
|
61.123 |
|
|
Loans & Advances |
|
|
131.014 |
|
Total
Current Assets |
|
|
1400.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
297.498 |
|
|
Other Current Liabilities |
|
|
173.110 |
|
|
Provisions |
|
|
4.010 |
|
Total
Current Liabilities |
|
|
474.618 |
|
|
Net Current Assets |
|
|
925.382 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2414.133 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2638.101 |
2431.334 |
2059.950 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2579.037 |
2640.218 |
1871.676 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE PRIOR PERIOD ADJUSTMENTS AND TAXES |
59.064 |
(208.884) |
188.274 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ADJUSTMENTS |
0.000 |
45.749 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
59.064 |
(163.135) |
188.274 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.755 |
60.666 |
66.347 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
44.309 |
(223.801) |
121.927 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
187.650 |
411.451 |
289.524 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
231.959 |
187.650 |
411.451 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
137.663 |
64.336 |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(loss) Per Share (Rs.) |
3.05 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.68
|
(9.20) |
5.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73
|
(5.36) |
13.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.17) |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.120
|
0.97 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
0.81 |
2.95 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: Registered office of the company has been
shifted from 22, Dhara Centre, Vijay Cross Roads, Navrangpura, Ahmedabad – 380009,
Gujarat, India to the present address
w.e.f.22.10.2010
REVIEW OF OPERATION:
During the year,
the Company has earned of Rs. 2638.100 Millions from operations. The Profit
after tax for the year has been Rs. 44.300 Millions as against Loss after tax
of Rs. 223.800 Millions during the previous financial year. The Directors are
continuously looking for avenues for future growth of the Company.
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long term
borrowing |
|
|
|
Working capital loans from banks |
207.966 |
0.000 |
|
Short term
borrowing |
|
|
|
Working capital loans from banks |
0.000 |
20.000 |
|
Loans repayable on demand |
0.000 |
50.194 |
|
Total |
207.966 |
70.194 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10428601 |
02/05/2013 |
11,500,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
TATA CAPITAL FINANCIAL
SERVICES LIMITED, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B75850016 |
|
2 |
10410334 |
20/02/2013 |
96,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, IN DIA |
B69728079 |
|
3 |
10406981 |
08/01/2013 |
90,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B69110047 |
|
4 |
10331011 |
01/04/2013 * |
490,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
B75075986 |
|
5 |
10270542 |
10/02/2011 |
32,883.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516651 |
|
6 |
10270543 |
10/02/2011 |
169,408.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516719 |
|
7 |
10270717 |
10/02/2011 |
355,754.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07659386 |
|
8 |
10270532 |
10/02/2011 |
355,755.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516362 |
|
9 |
10270536 |
10/02/2011 |
355,755.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516404 |
|
10 |
10270537 |
10/02/2011 |
355,760.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07516479 |
Note: * Date of charge modification
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.61.79 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.63.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.