MIRA INFORM REPORT
|
Report Date : |
07.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRADIP POLYFILS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Post Box No.69, NIF Compound, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.11.1987 |
|
|
|
|
Com. Reg. No.: |
04-010143 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 33.600
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ1987PTC010143 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTP00434A/ SRTP01612C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP7172J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Quality Polypropylene Filter Plates. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 315800 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Financial position of the company appears to be decent. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the outbreak
of the global financial crisis, the world economy continues to remain fragile.
The Indian economy demonstrated remarkable resilience in the initial years of
the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood opportunities
for the millions living in poverty as also the large contingent of young people
joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 2B |
|
Rating Explanation |
High performance capability and moderate
financial strength. |
|
Date |
January 9, 2013 |
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. Vipul Shah |
|
Designation : |
Export Executive |
|
Contact No.: |
91-2637-258668 |
|
Date : |
04.10.2013 |
LOCATIONS
|
Registered Office : |
Post Box No. 69, NIF Compound, Chhapra Road, Navsari – 369445,
Gujarat, India |
|
Tel. No.: |
91-2637-258668/ 250667 |
|
Fax No.: |
91-2637-259182 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Vijay Ratilal Kansara |
|
Designation : |
Managing Director |
|
Address : |
21, Sunder Nagar, Jamalpore, Navsari – 396445, |
|
Date of Birth/Age : |
22.11.1961 |
|
Date of Appointment : |
16.11.1987 |
|
DIN No.: |
00105884 |
|
|
|
|
Name : |
Mr. Pradip Ratilal Kansara |
|
Designation : |
Director |
|
Address : |
21, Sunder Nagar, Jamalpore, Navsari – 396445, |
|
Date of
Birth/Age : |
12.09.1955 |
|
Date of
Appointment : |
16.11.1987 |
|
DIN No.: |
00106796 |
|
|
|
|
Name : |
Mr. Shailesh Ratilal Kansara |
|
Designation : |
Director |
|
Address : |
21, Sunder Nagar, Jamalpore, Navsari – 396445, Gujarat, India |
|
Date of Birth/Age : |
26.12.1957 |
|
Date of Appointment : |
16.11.1987 |
|
DIN No.: |
00106854 |
|
|
|
|
Name : |
Mr. Ketan Hasmukh Kansara |
|
Designation : |
Director |
|
Address : |
21, Sunder Nagar, Jamalpore, Navsari – 396445, |
|
Date of Birth/Age : |
10.08.1969 |
|
Date of Appointment : |
16.11.1987 |
|
DIN No.: |
00106912 |
|
|
|
|
Name : |
Mr. Ramesh Pranjivandas Kansara |
|
Designation : |
Director |
|
Address : |
502, Lakeview Appartment, Dudhia Talav, Arvind Marg, Navsari – 396445,
|
|
Date of Birth/Age : |
03.05.1939 |
|
Date of Appointment : |
16.11.1987 |
|
DIN No.: |
00107031 |
|
|
|
|
Name : |
Mr. Anup Ramesh Kansara |
|
Designation : |
Director |
|
Address : |
33, Sunder Nagar, Jamalpore, Navsari – 396445, |
|
Date of Birth/Age : |
06.10.1982 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
01510191 |
|
|
|
|
Name : |
Mr. Amit Dineshbhai Kansara |
|
Designation : |
Director |
|
Address : |
22, Sunder Nagar, Jamalpore, Navsari – 396445, |
|
Date of Birth/Age : |
12.12.1978 |
|
Date of Appointment : |
30.09.2011 |
|
Voter ID No.: |
DFG1671833 |
|
DIN No.: |
03498323 |
|
|
|
|
Name : |
Mrs. Mrunal Jayeshbhai Kansara |
|
Designation : |
Director |
|
Address : |
23, Sunder Nagar, Jamalpore, Navsari – 396445, Gujarat, India |
|
Date of Birth/Age : |
11.05.1981 |
|
Date of Appointment : |
30.09.2011 |
|
Voter ID No.: |
DFG1671767 |
|
DIN No.: |
03498338 |
KEY EXECUTIVES
|
Name : |
Mr. Vipul Shah |
|
Designation : |
Export Executive |
|
|
|
|
Name : |
Mr. Hemant Patel |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hasmukh P. Kansara |
|
60000 |
|
Ramesh Pranjivandas Kansara |
|
48000 |
|
Shailesh Ratilal Kansara |
|
240000 |
|
Pradip Ratilal Kansara |
|
180000 |
|
Vijay Ratilal Kansara |
|
240000 |
|
Dinesh S. Kansara |
|
24000 |
|
Jayesh S. Kansara |
|
60000 |
|
Ketan Hasmukh Kansara |
|
324000 |
|
Anup Ramesh Kansara |
|
172800 |
|
Amit Dineshbhai Kansara |
|
174000 |
|
Mrunal Jayeshbhai Kansara |
|
120000 |
|
Sastyen P. Kansara |
|
120000 |
|
Pratimaben R. Kansara |
|
48000 |
|
Ilaben P. kansara |
|
84000 |
|
Jayshreeben S. Kansara |
|
180000 |
|
Nayanaben V. Kansara |
|
180000 |
|
Arunabem D. Kansara |
|
24000 |
|
Kaushikaben J. Kansara (HUF) |
|
54000 |
|
Hasmukh P. Kansara (HUF) |
|
36000 |
|
Ramesh P. Kansara (HUF) |
|
48000 |
|
Jayesh S. Kansara (HUF) |
|
54000 |
|
Dinesh S. Kansara (HUF) |
|
30000 |
|
Pradip R. Kansara (HUF) |
|
58800 |
|
Ritaben K. Kansara |
|
120000 |
|
Kaushal P. Kansara |
|
120000 |
|
Shailesh R. Kansara (HUF) |
|
142800 |
|
Vijay R. Kansara (HUF) |
|
142800 |
|
Ketan H. Kansara (HUF) |
|
106800 |
|
Dipmala A. Kansara |
|
36000 |
|
Jash A. Kansara |
|
48000 |
|
Ishita M. Kansara |
|
48000 |
|
Amruta A. Kansara |
|
36000 |
|
|
|
|
|
Total |
|
3360000 |
AS ON 29.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Quality Polypropylene Filter Plates. |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Filter Plates and Its Accessories |
MT |
-- |
1300 |
949.74 |
|
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Canara Bank, Main Branch, Navsari - 396445, Gujarat, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
JMN Associates Chartered Accountants |
|
Address : |
JMN House, Opposite Bombay House, Navsari – 396445, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFPN6954R |
|
|
|
|
Associates : |
· NIF Mechanical Works Private Limited · JS Metal Traverse Company · Propylon Products · Dinesh Plastic Products · NIF Export Company · Ultra Filtech |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,360,000 |
Equity Shares |
Rs. 10/- each |
Rs. 33.600
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 |
|
33.600 |
28.000 |
|
(b) Reserves & Surplus |
|
45.342 |
34.395 |
|
(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) |
|
78.942 |
62.395 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
28.023 |
29.736 |
|
(b) Deferred tax liabilities (Net) |
|
1.358 |
1.121 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
29.381 |
30.857 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
19.628 |
12.883 |
|
(b)
Trade payables |
|
41.584 |
14.305 |
|
(c)
Other current liabilities |
|
23.376 |
41.378 |
|
(d)
Short-term provisions |
|
24.272 |
10.133 |
|
Total
Current Liabilities (4) |
|
108.860 |
78.699 |
|
|
|
|
|
|
TOTAL |
|
217.183 |
171.951 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
51.212 |
39.177 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
0.866 |
0.866 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
52.078 |
40.043 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
48.228 |
36.746 |
|
(c)
Trade receivables |
|
71.346 |
43.149 |
|
(d)
Cash and cash equivalents |
|
15.295 |
24.630 |
|
(e)
Short-term loans and advances |
|
30.236 |
27.383 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
165.105 |
131.908 |
|
|
|
|
|
|
TOTAL |
|
217.183 |
171.951 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
20.403 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
14.967 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
35.370 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
10.425 |
|
|
2] Unsecured Loans |
|
|
41.833 |
|
|
TOTAL BORROWING |
|
|
52.258 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.913 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
88.541 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
28.168 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
35.174 |
|
|
Sundry Debtors |
|
|
42.029 |
|
|
Cash & Bank Balances |
|
|
4.265 |
|
|
Other Current Assets |
|
|
10.746 |
|
|
Loans & Advances |
|
|
0.806 |
|
Total
Current Assets |
|
|
93.020 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
14.653 |
|
|
Other Current Liabilities |
|
|
1.959 |
|
|
Provisions |
|
|
16.035 |
|
Total
Current Liabilities |
|
|
32.647 |
|
|
Net Current Assets |
|
|
60.373 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
88.541 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
169.590 |
71.329 |
|
|
|
Other Income |
|
1.010 |
1.995 |
|
|
|
TOTAL |
NA
|
170.600 |
73.324 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
130.111 |
56.140 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
40.489 |
17.184 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
7.428 |
5.920 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
33.061 |
11.264 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
11.548 |
3.563 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA
|
21.513 |
7.701 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
28.317 |
14.967 |
12.040 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend @ 25% on Equity Shares
of Rs.10/- each |
NA |
7.000 |
4.080 |
|
|
|
Tax on Dividend |
NA |
1.163 |
0.694 |
|
|
BALANCE CARRIED
TO THE B/S |
NA
|
28.317 |
14.967 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
212.771 |
157.248 |
65.908 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
95.350 |
60.641 |
24.783 |
|
|
|
Stores & Spares |
15.818 |
8.275 |
2.389 |
|
|
TOTAL IMPORTS |
111.168 |
68.916 |
27.172 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA
|
0.77 |
0.38 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
12.61
|
10.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
19.49
|
15.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
19.23
|
9.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.53
|
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.60
|
0.68
|
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52
|
1.68
|
2.85 |
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
two years |
Yes |
|
12] |
Profitability for last two
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
From Shareholders and Relatives |
20.000 |
20.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
18.299 |
11.192 |
|
Total |
38.299 |
31.192 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25209GJ1987PTC010143 |
|
Name of the
company |
PRADIP POLYFILS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Post Box No.69, NIF Compound, Chhapra Road, Navsari – 369445, Gujarat,
India Email: account@windwell.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
80008958 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Canara Bank, Main Branch, Navsari - 396445, Gujarat, India Email: ahd1151@canbank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
Letter evidencing
deposit of title deeds |
|
Date of
instrument Creating the charge |
30.03.2013 |
|
Amount secured by
the charge |
Rs. 107.008
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Not applicable being
collateral security Terms of Repayment Not applicable
being collateral security Margin Not applicable
being collateral security Extent and Operation of the charge This Charge will operate
against the assets secured to the extent of Rs. 107.008 Millions. |
|
Short particulars
of the property charged |
As described in
Schedule-B to the letter evidencing deposit of title deeds. |
|
Date of
Modification |
30.03.2013 |
|
Particulars of the
present modification |
The present
modification increases amount secured under the charge from Rs. 41.170
Millions to Rs.107.008 Millions as the enhanced limit of Rs. 47.200 Millions
granted to the Company is also secured through this equitable mortgage and
credit facility of Rs. 5.000 Millions granted to Dinesh Plastic Products and
Rs. 13.638 Millions to Propylon Products are also secured under this mortgage
alongwith additional factory premises being offered under this mortgage. |
FIXED ASSETS:
· Factory Building
· Plant and Machinery
· Dies and Equipments
· Electrification
· Office Equipments
· Furniture and Fixture
· Accessories and Equipments
· Computer
· Software Development
· 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. 61.41 |
|
|
1 |
Rs. 99.29 |
|
Euro |
1 |
Rs. 83.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.