MIRA
INFORM REPORT
|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
S.P. Koil Post, Chengalpattu, Kanchipuram, Chennai – 603204, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.08.2000 |
|
|
|
|
Com. Reg. No.: |
18-045537 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28890.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34103TN2000PTC045537 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM02210F |
|
|
|
|
Legal Form : |
Private Limited
Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing and
Marketing of Passenger Cars (Ford Ikon) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 61840000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary
of Ford Motors USA, an auto giant. It is an established company having a
moderate track record. Indian operations of the company is not doing well.
Profitability of the company is under pressure. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can
be considered normal 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 – 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.
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
Management non co-operative
Tel No.: 91-44-67403200
LOCATIONS
|
Registered
Office/ Factory/ Corporate Office : |
S P Koil Post, Chengalpattu, Kanchipuram, Chennai
– 603204, Tamilnadu, India |
|
Tel. No.: |
91-4114-27454375 91-44-67403333 |
|
Fax No.: |
91-4114-27455177 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
350 Acres |
|
Location : |
Outskirts |
|
|
|
|
Corporate
Office - North: |
3rd Floor, Building 10C, DLF
Cyber City, DLF Phase – II, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-3873001 |
|
Fax No.: |
91-124-3873999 |
|
|
|
|
New Plant (Under Construction) : |
Revenue Survey 1, Village Northkaputa,
Taluka Sanand, Ahmedabad, Gujarat, India |
|
|
|
|
Regional
Office : |
West
301, Tel. : 91-22-67024300 Fax: 91-22-67024305 South
Block – 1B, 1st Floor, Tel. : 91-44-24551500 Fax : 91-44-24559965 East
6th Floor, Unit # D2, Aakash
Tower, 781, Anandpur, Kolkata - 70010, West Bengal, India Tel. : 91-33-40073930-34 |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr Joginder Pal
Singh |
|
Designation : |
Managing Director
|
|
Address : |
No. 6A, Waters
Edge, 5th Drive Sea Clif Conclave, Akkarai, Chennai – 600119,
Tamilnadu, India |
|
Date of Birth/Age : |
06.01.1954 |
|
Date of Appointment : |
01.12.2012 |
|
DIN No.: |
02395452 |
|
|
|
|
Name : |
Mr. Kuljit Singh Rana |
|
Designation : |
Whole Time Director |
|
Address : |
Mayflower Apartment, No.9, |
|
Date of Birth/Age : |
13.05.1965 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
02680026 |
|
|
|
|
Name : |
Mr. Joseph R Hinrichs |
|
Designation : |
Director |
|
Address : |
36th Floor, SIT, 211, Century Avenue, Shanghal -200120 |
|
Date of Birth/Age : |
26.12.1966 |
|
Date of Appointment : |
24.03.2010 |
|
DIN No.: |
02982156 |
|
|
|
|
Name : |
Mr. Tom Chackalackal |
|
Designation : |
Director |
|
Address : |
3067, GST Road, Vallanchery – 603202, Tamilnadu, India |
|
Date of Birth/Age : |
13.07.1970 |
|
Date of Appointment : |
02.07.2012 |
KEY EXECUTIVES
|
Name : |
Mr. S Ramesh
(Indian) |
|
Designation : |
Company Secretary |
|
Address : |
No.10 Panchayat
Colony, Radha Nagar, Chrompet, Chennai 600 044, Tamilnadu, India |
|
Date of Birth/Age : |
11.10.1975 |
|
Date of Appointment : |
10.06.2005 |
|
Pan No.: |
AFLPR7910J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ford Motor
Company, |
|
243016520 |
|
Ford
International Services LLC., |
|
45883480 |
|
Total |
|
288900000 |
As on 27.11.2012
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Ford Motor
Company, USA |
|
11776520 |
|
Ford
International Services LLC., USa |
|
2223480 |
|
Total |
|
14000000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.000 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and
Marketing of Passenger Cars (Ford Ikon) |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
31.03.2011 |
|
|
|
|
Installed
Capacity |
200,000 passenger cars |
GENERAL INFORMATION
|
Not Available |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· Kotak Mahindra Bank Limited 36-38 A, Nariman Bhavan, 227, D, Nariman Point,, Mumbai - 400021, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Note : Cash credit from banks including working capital demand loans (Secured by hypothecation of present and future inventories and book debts) |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants, Chennai. |
|
Address : |
32, |
|
PAN.: |
AABFL5878L |
|
|
|
|
Fellow Subsidiaries: |
· DCS Holding Company, Thailand · Getrag Ford Transmissions Halewood, UK · Ford Werke GmbH-Genk Div, Belgium · Ford of Spain, Spain · Auto Alliance, Thailand |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs.100/- each |
Rs.
50000.000 Millions |
|
500000000 |
Preference Shares |
Rs.100/-
each |
Rs.
50000.000 Millions |
|
|
Total |
|
Rs. 100000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
288900000 |
Equity Shares |
Rs.100/-
each |
Rs.
28890.000 Millions |
|
|
|
|
|
As on 27.011.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000000 |
Equity Shares |
Rs.100/- each |
Rs.
55000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
302900000 |
Equity Shares |
Rs.100/-
each |
Rs.
30290.000 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 |
|
28890.000 |
21220.000 |
|
(b) Reserves & Surplus |
|
(13428.176) |
(12027.869) |
|
(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) |
|
15461.824 |
9192.131 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
14290.982 |
10823.461 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
724.621 |
470.063 |
|
(d) long-term provisions |
|
257.661 |
307.291 |
|
Total Non-current Liabilities (3) |
|
15273.264 |
11600.815 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3908.682 |
3357.496 |
|
(b) Trade payables |
|
12925.187 |
12273.514 |
|
(c) Other current liabilities |
|
1085.951 |
673.436 |
|
(d) Short-term provisions |
|
1203.261 |
187.191 |
|
Total Current Liabilities (4) |
|
19123.081 |
16491.637 |
|
|
|
|
|
|
TOTAL |
|
49858.169 |
37284.583 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
23603.200 |
21928.373 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
2802.037 |
947.239 |
|
(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 |
|
3735.653 |
1415.739 |
|
(e) Other Non-current assets |
|
24.605 |
38.295 |
|
Total Non-Current Assets |
|
30165.495 |
24329.646 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
8780.959 |
6395.683 |
|
(c) Trade receivables |
|
2373.026 |
1864.739 |
|
(d) Cash and cash equivalents |
|
6043.434 |
3461.756 |
|
(e) Short-term loans and advances |
|
2257.965 |
990.243 |
|
(f) Other current assets |
|
237.290 |
242.516 |
|
Total Current Assets |
|
19692.674 |
12954.937 |
|
|
|
|
|
|
TOTAL |
|
49858.169 |
37284.583 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
21220.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
10.000 |
|
|
4] (Accumulated Losses) |
|
|
(10962.910) |
|
|
NETWORTH |
|
|
10267.090 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2080.688 |
|
|
2] Unsecured Loans |
|
|
10556.095 |
|
|
TOTAL BORROWING |
|
|
12636.783 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
22903.873 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
20444.119 |
|
|
Capital work-in-progress |
|
|
2301.249 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
5446.956 |
|
|
Sundry Debtors |
|
|
2413.883 |
|
|
Cash & Bank Balances |
|
|
2499.069 |
|
|
Other Current Assets |
|
|
115.653 |
|
|
Loans & Advances |
|
|
2346.724 |
|
Total
Current Assets |
|
|
12822.285 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
11909.207 |
|
|
Other Current Liabilities |
|
|
472.748 |
|
|
Provisions |
|
|
281.825 |
|
Total
Current Liabilities |
|
|
12663.780
|
|
|
Net Current Assets |
|
|
158.505
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
22903.873 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
66041.800 |
56105.400 |
24962.400 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
66041.800 |
56105.400 |
24962.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing, administrative and selling Expenses |
63999.300 |
54307.800 |
25472.300 |
|
|
|
TOTAL |
63999.300 |
54307.800 |
25472.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2042.500 |
1797.600 |
(509.900) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
603.000 |
476.000 |
(147.700) |
|
|
|
|
|
|
|
|
|
Less: |
CAPITALISED |
0.000 |
(413.400) |
509.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1439.500 |
1735.000 |
(301.900) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2839.800 |
2809.900 |
(1435.500) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(1400.300) |
(1074.900) |
(1583.500) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
(0.700) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(1400.300) |
(1074.900) |
(1584.200) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(12037.800) |
(10962.900) |
(9378.600) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(13438.200) |
(12037.800) |
(10962.900) |
|
|
|
|
|
|
|
|
|
|
Earnings/loss
Per Share (Rs.) |
(4.85) |
(5.07) |
(7.88) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(2.12)
|
(0.02)
|
(6.35)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.98)
|
(2.96)
|
(4.83)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10)
|
(0.12)
|
(0.15)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.18
|
1.54
|
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
0.79
|
1.01
|
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 |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
UNSECURED LOAN:
(Rs. In Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term Borrowing |
|
|
|
Rupee term loans banks unsecured |
0.000 |
2287.764 |
|
Borrowing from foreign companies |
6622.850 |
0.000 |
|
Deferred payment for acquisition of fixed assets |
1537.542 |
0.000 |
|
Deferred sales tax loan |
6130.590 |
4909.186 |
|
Working capital loans from banks |
3071.776 |
0.000 |
|
Other external commercial borrowings unsecured |
0.000 |
5914.276 |
|
Total |
17362.758 |
13111.226 |
CASE DETAILS
|
Case Status: |
Pending |
|
Status Of: |
APPLICATION |
|
Case No.: |
3596 |
|
Year : |
2012 |
|
Petitioner : |
M/S. LLOYD INSULATIONS (INDIA) |
|
Respondent : |
FORD INDIA PRIVATE LIMITED |
|
Pet's Advocate : |
M/S.K.K.MURRALITHARAN |
|
Res's Advocate : |
M/S.R.SENTHILKUMAR |
|
Category : |
Section 9 |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Nov 30 2012 |
NEW BUSINESS ACTIVITY:
The Company has launched Fiesta, first global car in July 2011. Company has announced the launch of second plant in Sanand, Gujarat. The ground breaking ceremony was performed in September 2011. The work for site office, engine plant, paint shop, stamping, body and TCF has already commenced.
The new facility involves the investment of approximately USD 1 billion, include two plants, one for vehicle manufacturing that will have an initial capacity of 240,000 vehicles, and the other for engines, with an initial capacity of 270,000 engines.
The Company has showcased Eco Sport at New Delhi Auto Expo at the beginning of 2012.
BUSINESS PLAN:
The Company has planned to launch global vehicles in India to meet the customers expectations. The existing vehicles will be refreshed at the regular interval to suit the upcoming trends. During the year, the company had received Rs 7670.000 Millions as the contribution from its shareholders to fund the expansion activities, and shares have been allotted against the same.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10450239 |
06/08/2013 |
1,500,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B85452860 |
|
2 |
10078691 |
29/09/2006 |
250,000,000.00 |
INDIAN OVERSEAS BANK |
NANDANAR STREET, NH 2, MARAIMALAI NAGAR, TAMIL NADU - 603209, INDIA |
A07662802 |
|
3 |
90288611 |
15/03/2007 * |
250,000,000.00 |
INDIAN OVERSEAS BANK |
NANDANAR STREET, NH2, MARAIMALAI NAGAR, TAMIL NADU - 603209, INDIA |
- |
|
4 |
90290974 |
01/12/2005 |
250,000,000.00 |
INDIAN OVERSEAS BANK |
M.M. NAGAR BRANCH, CHENGALPATTU, TAMIL NADU, INDIA |
- |
|
5 |
90288420 |
21/07/2008 * |
500,000,000.00 |
INDIAN OVERSEAS BANK |
NANDANAR STREET, NH 2, MARAIMALAI NAGAR, TAMIL NADU - 603204, INDIA |
A43011469 |
|
6 |
90285769 |
24/09/2012 * |
1,500,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, 3RD FLOOR, SIGAPI AACHI BUILDING, RUKMANI LAKSHMIPATI ROAD, CHENNAI, TAMIL NADU - 600008, INDIA |
B60359122 |
|
7 |
80054431 |
07/12/1999 |
500,000,000.00 |
UNION BANK OF INDIA |
IFBT NAGAR, CHENNAI, TAMIL NADU - 600017, INDIA |
- |
* Date of charge modification
Fixed Assets:
- Land-Freehold
- Building
- Plant and Machinery
- Computers
- Furniture and Fixtures
- 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.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
34 |
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.