|
Report Date : |
16.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
AKAR LIMITED |
|
|
|
|
Formerly Known
As : |
AKAR PRINT AND PACK PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
704, Shree Sai Corporate Park, Laxmi Nagar, Off Link Road, Goregaon
(W), Mumbai, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.01.1987 |
|
|
|
|
Com. Reg. No.: |
11-042216 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.34.780 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22219MH1987PLC042216 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA19880A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA3955F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and Exporter of School and Office Stationery Products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 113000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears some accumulated losses recorded by the company which is
decreasing over a year. However, the company has achieved decent profitability during
financial year 2013. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealing 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 – 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 current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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 DENIED
Management Non Co-operative (91-260-2668366)
LOCATIONS
|
Registered Office : |
704, Shree Sai Corporate Park, Laxmi Nagar, Off Link Road, Goregaon
(W), Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-2634053/ 91-260-2668366 |
|
Fax No.: |
9122-26312100 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 260-2A, |
|
Tel. No.: |
91-260-2668365 / 66 / 3091359 |
|
Fax No.: |
91-260-2668365 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ashok Kumar Jain |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
501, Jeevan Anand, Oberoi Complex, Andheri West, Mumbai – 400 053,
Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.02.1953 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
14.01.1987 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00125031 |
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|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
|
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sunil Gopal Shikarkhane |
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|
Designation : |
Whole-time Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-204, Vastu Park, Evershine Nagar, Link Road,Malad West, Mumbai – 400
064, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.12.1965 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.04.1994 |
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|
DIN No.: |
00130518 |
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|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rahul Ashok Jain |
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|
Designation : |
Whole-time Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
501, Jeevan Anand, Oberoi Complex, Andheri West, Mumbai – 400 053,
Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.01.1983 |
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|
Date of Appointment : |
01.03.2004 |
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|
DIN No.: |
00124895 |
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|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Chandramohan Anchan |
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|
Designation : |
Director |
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|
Address : |
3, Iswar Bhavan, 2nd Cross Lane, Liberty Garden, Malad
West, Mumbai – 400 064, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.06.1941 |
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|
Date of Appointment : |
31.03.2006 |
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|
DIN No.: |
00126403 |
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mahesh Jashvantrai Desai |
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Designation : |
Director |
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|
Address : |
603 A, Greenfield, Lokhandwala Complex, Andheri West, Mumbai – 400
053, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.11.1956 |
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|
Date of Appointment : |
31.06.2006 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00165015 |
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KEY EXECUTIVES
|
Name : |
Parikh and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
111, 11th Floor, Sai-Dwar Co-operative Housing Society
Limited, Sab TV Lane, Opposite Laxmi Industrial Estate, Off Link Road, Andheri
(West), Mumbai – 400 053, Maharashtra, India |
|
Tel. No.: |
91-26301232/ 26301233/ 26301240 |
|
E-mail : |
MAJOR SHAREHOLDERS
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Kumar Jain |
|
361970 |
|
Hemchand Jain jointly with Ashok Jain |
|
1300 |
|
Shantidevi Jain jointly with Ashok Jain |
|
1300 |
|
Jyoti Jain |
|
287950 |
|
Kamal Jain |
|
100 |
|
Ashok Kumar Jain jointly with Jyoti Jain |
|
1873800 |
|
Jyoti Jain jointly with Ashok Jain |
|
950200 |
|
Haridwar Shah |
|
65 |
|
Sunil Shikharkane |
|
65 |
|
Rohan jain jointly with Ashok Jain |
|
1200 |
|
|
|
|
|
Total |
|
3477950 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Exporter of School and Office Stationery Products. |
||||||||
|
|
|
||||||||
|
Products : |
·
Note books ·
Exercise Books ·
Drawing Books ·
Subject Note for School Students ·
Cube Block ·
Address Books ·
Legal Pads ·
Floral Pads, ·
Multicolor Printed Cubes ·
Calenders ·
Dairies ·
Memos Reminders ·
Shopping Lists ·
Paper Napins ·
Guest Book |
PRODUCTION STATUS
|
Particulars |
|
|
|
Actual
Production |
|
Note Book, Calendars, Drawing Book, Add.
Books etc. |
|
|
|
As per requirement |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
The Bharat Co- Operative Bank (Mumbai) Limited, Andheri (West) Branch,
B-Plot No. 10, Opposite Citi Mall, New Link Road, Andheri (West), Mumbai –
400 058, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
NOTES: Long Term
Borrowings: *Secured by hypothecation of Plant and Machinery and current Assets of
the company and first charge by way of Equitable Mortgage of Immovable
Properties other Fixed Assets of the company and also guaranteed by Managing
Director of the company. Short Term Borrowings: *Secured by hypothecation of Plant and Machinery and current Assets of
the company and first charge by way of Equitable Mortgage of Immovable
Properties other Fixed Assets of the company and also guaranteed by Managing
Director of the company. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.N. Kankaria and Company Chartered Accountants |
|
Address : |
III, Veena Chambers, 21 Dalal Street, Fort, Mumbai – 400 001, |
|
PAN No.: |
AAGPK7085H |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs. 10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3477950 |
Equity Shares |
Rs. 10/- each |
Rs.34.780 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
34.780 |
34.780 |
34.780 |
|
(a) Share Capital |
(6.389) |
(9.462) |
10.456 |
|
(b) Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
28.391 |
25.318 |
45.236 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
32.746 |
35.646 |
37.310 |
|
(b) Deferred tax liabilities (Net) |
11.789 |
12.748 |
13.273 |
|
(c) Other long term
liabilities |
2.247 |
3.194 |
5.553 |
|
(d) long-term
provisions |
11.089 |
8.389 |
6.761 |
|
Total Non-current
Liabilities (3) |
57.871 |
59.977 |
62.897 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
34.636 |
28.600 |
30.334 |
|
(b) Trade
payables |
11.572 |
9.461 |
13.369 |
|
(c) Other
current liabilities |
0.221 |
0.009 |
0.489 |
|
(d) Short-term
provisions |
5.428 |
3.806 |
2.885 |
|
Total Current
Liabilities (4) |
51.857 |
41.876 |
47.077 |
|
|
|
|
|
|
TOTAL |
138.119 |
127.171 |
155.210 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
47.022 |
48.121 |
48.473 |
|
(ii)
Intangible Assets |
27.473 |
29.424 |
0.605 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.105 |
0.105 |
0.105 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.120 |
0.120 |
0.120 |
|
(e) Other Non-current
assets |
3.686 |
4.657 |
4.697 |
|
Total Non-Current
Assets |
78.406 |
82.427 |
54.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
36.699 |
29.971 |
73.001 |
|
(c) Trade
receivables |
18.276 |
12.449 |
25.661 |
|
(d) Cash
and cash equivalents |
0.759 |
0.421 |
1.767 |
|
(e)
Short-term loans and advances |
2.373 |
0.601 |
0.241 |
|
(f) Other
current assets |
1.606 |
1.302 |
0.540 |
|
Total
Current Assets |
59.713 |
44.744 |
101.210 |
|
|
|
|
|
|
TOTAL |
138.119 |
127.171 |
155.210 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
131.489 |
95.056 |
94.160 |
|
|
|
Other Income |
0.984 |
1.493 |
0.808 |
|
|
|
TOTAL (A) |
132.473 |
96.549 |
94.968 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
66.609 |
57.730 |
60.376 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(1.197) |
11.544 |
(0.601) |
|
|
|
Employee Benefits Expenses |
18.243 |
14.904 |
12.190 |
|
|
|
Other Expenses |
28.998 |
17.296 |
13.776 |
|
|
|
TOTAL (B) |
112.653 |
101.474 |
85.741 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.820 |
(4.925) |
9.227 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.228 |
9.415 |
7.945 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
10.592 |
(14.340) |
1.282 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
7.011 |
4.953 |
4.233 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
3.581 |
(19.293) |
(2.951) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.508 |
0.625 |
0.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
3.073 |
(19.918) |
(3.259) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.88 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.32
|
(20.63) |
(3.43) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.72
|
(20.30) |
(3.13) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.67
|
(15.78) |
(1.96) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
(0.76) |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.37
|
2.54 |
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.07 |
2.15 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
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 |
No |
NOTE: Registered office
address of the company has been shifted from 501, Jeevan Anand, Oberoi Complex,
Andheri (West), Mumbai – 400 053, Maharashtra, India to the present address
w.e.f. 15.01.2013
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Other Loans and Advances |
|
|
|
Loans from Directors |
|
|
|
Ashok Kumar Jain |
0.632 |
1.102 |
|
Jyoti Ashok Jain |
0.000 |
0.670 |
|
|
|
|
|
Total |
0.632 |
1.772 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10448662 |
02/09/2013 |
825,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
ANDHERI(W)
BRANCH, G-11, A7B, SHALIMAR MORYA, PREMISES, VEER INDUSTRIAL ESTATE, NEAR
INFINITI MALL, MUMBAI – 400 053, MAHARASHTRA - 400053, INDIA |
B84829233 |
|
2 |
10436081 |
19/06/2013 |
350,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
ANDHERI (W)
BRANCH, SHALIMAR MORYA PREMISES CO-OP. |
B79287751 |
|
3 |
10390693 |
05/11/2012 |
600,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
ANDHERI (WEST)
BRANCH, G-11, A AND B, SHALIMAR MORYA PREMISES,VEER INDUSTRIAL ESTATE,NEW
LINK ROAD, ANDHERI |
B63619043 |
|
4 |
10349355 |
14/03/2012 |
1,170,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
ANDHERI (WEST)
BRANCH, G-11, A AND B, SHALIMAR MORYA PREMISES,VEER INDUSTRIAL ESTATE,NEW
LINK ROAD, ANDHERI |
B37474806 |
|
5 |
10268697 |
17/01/2011 |
2,500,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
ANDHERI (W)
BRANCH, PLOT NO. B-10, OPP. CITI MALL, NEW LINK ROAD, ANDHERI (WEST), MUMBAI
– 400 058, MAHARASHTRA, INDIA |
B06246490 |
|
6 |
10134276 |
08/12/2008 |
5,000,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
ANDHERI (WEST)
BRANCH, PLOT NO B-10, GR. FLOOR, OPP CITY MALL, LINK ROAD, ANDHERI (WEST),
MUMBAI – 400 058, MAHARASHTRA, INDIA |
A53020582 |
|
7 |
10130720 |
31/10/2008 |
30,000,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
ANDHERI (WEST)
BRANCH, PLOT NO B-10, GR. FLOOR, OPP CITY MALL, LINK ROAD, ANDHERI (WEST),
MUMBAI – 400 058, MAHARASHTRA, INDIA |
A51204907 |
|
8 |
10073525 |
28/09/2007 |
15,000,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
ANDHERI (WEST)
BRANCH, PLOT NO B-10, GR. FLOOR, OPP CITY MALL, LINK ROAD, ANDHERI (WEST),
MUMBAI – 400 058, MAHARASHTRA, INDIA |
A26001172 |
|
9 |
90218563 |
09/04/2013 * |
32,500,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
G-11, A AND B,
SHALIMAR MORYA PREMISES, VEER INDUSTRIAL ESTATE, NEAR INFINITI MALL, NEW LINK
ROAD, ANDHERI (W), MUMBAI – 400 053, MAHARASHTRA, INDIA |
B73500688 |
|
10 |
90218537 |
03/10/2003 |
5,000,000.00 |
THE BHARAT CO-
OPERATIVE BANK (MUMBAI) LIMITED |
BORIVILI (W)
BRANCHB; MANDPESHWAR INDL PREMISES, |
- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building Premises
·
Plant and Equipment
·
Electric Installations
·
Dies and Moulds
·
Design and Arts
·
Furniture and Fixtures
·
Office Equipment
·
Computer Systems
·
Software
· Vehicles
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.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
32 |
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 Z |
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.