MIRA
INFORM REPORT
|
Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KONARK INFRASTRUCTURE LIMITED (w.e.f.14.07.2007 |
|
|
|
|
Formerly Known
As : |
KONARK INFRASTRUCTURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Konark Plaza, Sapna Talkies, Near Sapna Garden,
Ulhasnagar – 421003, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.11.1997 |
|
|
|
|
Com. Reg. No.: |
11-111788 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U2692MH1997PLC11788 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK6745L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Services Provider of Road Construction, Highway Construction,
Apartment Construction, Commercial Constriction, Water segment Construction. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4090000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record.
Financial for year (2012 – 2013) are not available. As per the available financials of 2011, there seems some growth in
the turnover however, dip in the profitability of the company. Trade
relations are reported as fair. Business is active. Payment terms are
unknown. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
Cash Credit BBB- |
|
Rating Explanation |
Moderate degree of safety with moderate
credit risk. |
|
Date |
April 1st , 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 DENIED
MANAGEMENT NON - COOPERATIVE (91-251-2660501)
LOCATIONS
|
Registered Office : |
1st Floor, Konark Plaza, Sapna Talkies, Near Sapna Garden,
Ulhasnagar – 421003, Maharashtra, India |
|
Tel. No.: |
91-251-2560501 |
|
Fax No.: |
91-251-2560506 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Mahesh Satyanarain Khairari |
|
Designation : |
Director |
|
Address : |
Flat No 202 And
203, Agarwal House, Royal Residency Complex, Ulhasnagar- 421001, Maharashtra,
India |
|
Date of Birth/Age : |
03.07.1964 |
|
Date of Appointment : |
10.11.1997 |
|
DIN No. : |
00388549 |
|
|
|
|
Name : |
Mr. Subhash Satyanarain Khairari |
|
Designation : |
Director |
|
Address : |
Flat No 402 And 403,
Agarwal House, Royal Residency Complex, Ulhasnagar- 421001, Maharashtra,
India |
|
Date of Birth/Age : |
03.07.1964 |
|
Date of Appointment : |
10.11.1997 |
|
DIN No. : |
00388814 |
|
|
|
|
Name : |
Mr. Suresh Ramchand Jethani |
|
Designation : |
Director |
|
Address : |
Block No. 39/16, Jethani House, Ulhasnagar-421001, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1965 |
|
Date of Appointment : |
10.11.1997 |
|
DIN No. : |
00401981 |
|
|
|
|
Name : |
Mr. Suresh Ratanlal Jagiasi |
|
Designation : |
Director |
|
Address : |
Flat No 801,
Ratandeep Apt, Near Sapna Garden, Ulhasnagar-421003, Maharashtra, India |
|
Date of Birth/Age : |
06.03.1958 |
|
Qualification : |
Graduate |
|
Experience : |
14 Years |
|
Date of Appointment : |
10.11.1997 |
|
DIN No. : |
00612874 |
|
|
|
|
Name : |
Mr. Mukesh Gobindram Kimtani |
|
Designation : |
Director |
|
Address : |
701, Himath
Residency, Section-17, Ulhasnagar-421003, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1961 |
|
Date of Appointment : |
10.11.1997 |
|
DIN No. : |
00618632 |
|
|
|
|
Name : |
Mr. Nandlal Gobindram Kimtani |
|
Designation : |
Director |
|
Address : |
Terrace Flat,
Kala Palace, Near Madhubhan Hotel, Ulhasnagar-421001, Maharashtra, India |
|
Date of Birth/Age : |
21.09.1958 |
|
Date of Appointment : |
20.11.1997 |
|
DIN No. : |
00618640 |
|
|
|
|
Name : |
Mr. Nandlal Ramchand Jethani |
|
Designation : |
Director |
|
Address : |
Block No. 39/16, Jethani House, Ulhasnagar-421001, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1964 |
|
Qualification : |
Graduate |
|
Experience : |
14 Years |
|
Date of Appointment : |
20.11.1997 |
|
DIN No. : |
01813568 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Mahesh S. Khairari |
14500 |
|
Subhash S. Khairari |
5010 |
|
Suresh R. Jagiasi |
22000 |
|
Gurbax R Jagiasi |
20190 |
|
Dhiraj R Jagiasi |
6610 |
|
Nandlal R Jethani |
21690 |
|
Nandlal R Jethani |
16010 |
|
Sumanlata M Khairari |
2490 |
|
Mukesh G Kimtani |
22600 |
|
Nandlal G Kimtani |
28000 |
|
Himath R Jethani |
2300 |
|
Konark Projects Limited, India |
90625 |
|
Mahesh Khairari (HUF) |
8000 |
|
Ramkishore S Khairari |
5000 |
|
Ratanlal D Jagiasi |
9700 |
|
Ratanlal Jagiasi (HUF) |
8000 |
|
Sarladevi R Jagiasi |
3500 |
|
Gurbux R Jagiasi (HUF) |
1000 |
|
Mamta G Jagiasi |
1500 |
|
Kiran S Jagiasi |
2500 |
|
M S Dry Fruits |
25000 |
|
Reshma Kimtani |
14150 |
|
Sonu Kimtani |
4000 |
|
Amar R.Jethani |
10000 |
|
Srichand Kimtani |
6250 |
|
Konark Nirman Private Limited, India |
50625 |
|
Nancy Builders and Developers Private Limited, India |
50625 |
|
Rattan Properties and Projects Private Limited, India |
50625 |
|
|
|
|
Total |
502500 |
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
48.26 |
|
Directors or relatives of Directors |
51.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Services Provider of Road Construction, Highway Construction,
Apartment Construction, Commercial Constriction, Water segment Construction. |
GENERAL INFORMATION
|
No. of Employees : |
40 (Approximately) |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Bankers : |
The Saraswat Co-op Bank Limited, Prabhat Bhavan, Block B, 1st
Floor, L.B. Marg, Opposite, Cipla, Vikhroli (West), Mumbai – 400083,
Maharashtra, India |
||||||||||||||||||
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Vinod Dhankani and Company Chartered Accountant |
|
Address : |
Shop No.1, Guddu
Palace, Ground Floor, Near Chopra Court, Ulhasnagar-421003, Maharashtra,
India |
|
PAN No. : |
AAPPD8981L |
|
|
|
|
Associates : |
œ Konark Projects
Limited œ Konark Petro
Products (India) Private Limited œ Rattan
Properties and Projects Private Limited œ Regency Nirman
Limited œ Regency Motels
and Buildcon (India) Private Limited œ Eagle
Constructions œ Konark
Foundation œ Regency
Realities œ Konark Builders œ Konark Builders and
Developers |
|
|
|
|
Joint Ventures /
Partnerships : |
œ Konark
Infrastructure (Sw-Kdmc) J/V œ Konark
Infrastructure (Rob-Kalyan) J/V œ Konark
Infrastructure (Water Supply-Umc) J/V œ K. P. Hotels and
Resorts œ Kohinoor
Infrastructure J/V |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
502500 |
Equity Shares |
Rs.100/- each |
Rs.50.250 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
50.250 |
50.250 |
47.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
972.388 |
763.924 |
369.557 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1022.638 |
814.174 |
416.807 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1840.562 |
1358.739 |
1211.440 |
|
|
2] Unsecured Loans |
226.470 |
26.551 |
179.600 |
|
|
TOTAL BORROWING |
2067.032 |
1385.290 |
1391.040 |
|
|
DEFERRED TAX LIABILITIES |
1.437 |
1.610 |
1.837 |
|
|
|
|
|
|
|
|
TOTAL |
3091.107 |
2201.074 |
1809.684 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
72.179 |
40.840 |
44.496 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
256.618 |
269.280 |
99.608 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
449.037 |
318.443 |
168.900 |
|
|
Sundry Debtors |
27.477 |
23.970 |
23.776 |
|
|
Cash & Bank Balances |
1449.896 |
1416.116 |
1218.151 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1281.608 |
400.156 |
387.808 |
|
Total
Current Assets |
3208.018 |
2158.685 |
1798.635 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.861 |
4.966 |
6.871 |
|
|
Other Current Liabilities |
129.134 |
53.405 |
37.016 |
|
|
Provisions |
306.713 |
209.360 |
89.168 |
|
Total
Current Liabilities |
445.708 |
267.731 |
133.055 |
|
|
Net Current Assets |
2762.310 |
1890.954 |
1665.580 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3091.107 |
2201.074 |
1809.684 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10282.446 |
6594.160 |
|
|
|
|
Other Income |
72.574 |
72.455 |
|
|
|
|
TOTAL |
10355.020 |
6666.615 |
5471.143 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing service costs |
9304.211 |
5664.494 |
|
|
|
|
Contract cost |
3.960 |
0.160 |
|
|
|
|
Employee related expenses |
284.957 |
203.794 |
|
|
|
|
Administrative selling other expenses |
268.315 |
152.461 |
|
|
|
|
TOTAL |
9861.443 |
6020.909 |
5323.747 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
493.577 |
645.706 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
166.646 |
147.392 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
326.931 |
498.314 |
147.396 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
11.260 |
10.981 |
6.087 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
315.671 |
487.333 |
141.309 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
106.907 |
119.966 |
50.415 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
208.764 |
367.367 |
90.894 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
575.903 |
208.536 |
117.642 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
784.667 |
575.903 |
208.536 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
415.45 |
731.08 |
180.88 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.02
|
5.51 |
1.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.05
|
7.39 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.62
|
22.16 |
7.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.60 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.02
|
1.70 |
3.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.20
|
8.06 |
13.52 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
Yes |
|
9] |
Name of
person contacted |
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 |
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 |
Yes |
NOTE:
The registered address of the company has been shifted from Ground
Floor, Sapna Talkies, Near Sapna Garden, Ulhasnagar – 421003, Maharashtra,
India to the present address w.e.f. 27.01.2009
UNSECURED LOAN:
|
Particulars |
31.03.2011 [Rs.
in Millions] |
31.03.2010 [Rs.
in Millions] |
|
Working capital loans from others |
116.552 |
26.551 |
|
Loans from directors |
109.918 |
0.000 |
|
|
|
|
|
Total |
226.470 |
26.551 |
INDEX CHARGES:
|
.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10446055 |
30/07/2013 |
290,000,000.00 |
THE SARASWAT CO-OP BANK LTD |
PRABHAT BHAVAN, BLOCK B, 1ST FLOOR, L.B MARG, OPP. CIPLA, VIKHROLI
WEST, MUMBAI, Maharashtra - 400083, INDIA |
B83571828 |
|
2 |
10447256 |
25/07/2013 |
100,000,000.00 |
THE SARASWAT CO-OP BANK LTD |
PRABHAT BHAVAN, BLOCK B, 1ST FLOOR, L.B MARG, OPP. CIPLA, VIKHROLI
WEST, MUMBAI, Maharashtra - 400083, INDIA |
B84137660 |
|
3 |
10422316 |
05/03/2013 |
100,000,000.00 |
DENA BANK |
FURNITURE BAZAR, ULHASNAGAR, Maharashtra -
421002, INDIA |
B73907909 |
|
4 |
10403614 |
10/02/2012 |
850,000,000.00 |
DENA BANK |
FURNITURE BAZAR, ULHASNAGAR, Maharashtra -
421002, INDIA |
B60449188 |
|
5 |
10245247 |
05/03/2013 * |
2,500,000,000.00 |
DENA BANK |
FURNITURE BAZAR, ULHASNAGAR, Maharashtra -
421002, INDIA |
B72017569 |
|
6 |
10196170 |
31/12/2009 |
150,000,000.00 |
DENA BANK |
ULHASNAGAR, Maharashtra -421002, INDIA |
A77263176 |
|
7 |
10196171 |
31/12/2009 |
150,000,000.00 |
DENA BANK |
ULHASNAGAR, Maharashtra -421002, INDIA |
A77263960 |
|
8 |
10099908 |
12/11/2007 * |
70,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
'OM', GOKULDHAM COMPLEX, MURBAD ROAD,,
KALYAN, Maharashtra - 421301, INDIA |
A37330354 |
|
9 |
90353964 |
30/06/2012 * |
2,305,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
PRABHAT BHAVAN, BLOCK B, 1ST FLOOR, L.B MARG, OPP. CIPLA, VIKHROLI
WEST, MUMBAI, Maharashtra - 400083, INDIA |
B56198237 |
|
10 |
90353350 |
26/10/2004 |
76,800,000.00 |
THE JANATA SAHAKARI BANK LTD. |
'OM', GOKULDHAM COMPLEX, MURBAD ROAD,,
KALYAN, Maharashtra - 421301, INDIA |
- |
|
1 |
90353112 |
09/12/2005 * |
25,000,000.00 |
THE NAV- JEEVAN CO-OP. BANK LTD. |
BHAWANI SAW MILLS COMPOUND,ULHASNAGAR,
Maharashtra, INDIA |
- |
|
12 |
90353099 |
01/08/2003 |
96,000,000.00 |
THE SARASWAT CO-OP. BANK LTD. |
GOKULDHAM COMPLEX, MURBAD, KALYAN,
Maharashtra, INDIA |
- |
|
13 |
90353012 |
23/07/2002 |
60,000,000.00 |
THE SARASWAT CO-OP. BANK LTD. |
GOKULDHAM COMPLEX, MURBAD, KALYAN, Maharashtra,
INDIA |
- |
|
14 |
90352897 |
20/03/2001 |
10,000,000.00 |
THE JANATA SAHAKARI BANK LTD. |
OM GOKULDHAM COMPLEX, MURBAD ROAD, KALYAN,
Maharashtra, INDIA |
- |
|
15 |
90352733 |
28/03/1999 |
52,800,000.00 |
THE JANATA SAHAKARI BANK LTD. |
YAKUB MANZIL, MUMBAI, Maharashtra, INDIA |
- |
|
16 |
90352693 |
12/10/1998 |
25,600,000.00 |
THE JANATA SAHAKARI BANK LTD. |
YAKUB MANZIL, MUMBAI, Maharashtra, INDIA |
- |
|
17 |
90352686 |
14/09/1998 |
25,600,000.00 |
THE JANATA SAHAKARI BANK LTD. |
YAKUB MANZIL, MUMBAI, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
œ Land
œ Building
œ Equipments
œ Computer
equipments
œ Furniture fixtures
œ 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.61.30 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.83.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
30 |
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.