MIRA INFORM REPORT
|
Report Date : |
25.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
MODERN SYNTEX ( |
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Registered
Office : |
A-4, Vijay Path, Tilak Nagar, Jaipur – 302 004, Rajasthan |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
12.11.1976 |
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Com. Reg. No.: |
17-001780 |
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Capital
Investment / Paid-up Capital : |
Rs.1282.166 Millions |
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CIN No.: [Company Identification
No.] |
L24302RJ1976PLC001780 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRM00019F JPRM00018E |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing and
sale of Polyester Filament Yarn, Polyester Viscose Fabric and Polyester
Viscose Yarn |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Sick Company |
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Payment Behaviour : |
Delayed |
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Litigation : |
Clear |
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Comments : |
The company is declared as a sick company under BIFR (Board for
Industrial and Financial Reconstruction) on 5th April, 2011. The Networth of the company has been eroded due to continuous
accumulated loss incurred from its operations during 2012. Payment terms are delayed. The company can be considered for business dealings on fully safe an
secure trade terms and conditions. Note: The Company has not traded on BSE from last 30 days. |
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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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.
LOCATIONS
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Registered Office : |
A-4, Vijay Path, Tilak Nagar, Jaipur – 302004, |
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Tel. No.: |
91- 141- 2623430/ 31/ 32/ 33 |
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Fax No.: |
91- 141- 2621382 |
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Email : |
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Website : |
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Corporate Headquarter : |
68/69, Godavari, |
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Tel. No.: |
91-22-4923315/ 4944285/ 4944288/ 4972921 |
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Corporate Office : |
N.H. No.8, Village: Bamangam, Taluka: Karjan, Dist. Vadodara – 391210, Gujarat, India. |
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Tel. No.: |
91-265-2830982 |
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Fax No.: |
91-265-2830543 |
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Factory : |
v
Yarn Division : Matsya Industrial Area,
Alwar – 301030, v Suitings Division : Old Industrial Area, Alwar, v Petrofils Division : Bamangaon, Taluka: Karjan, |
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For Purchase: |
Mr. B. G.
Patodia Telphone:
91-265-2830787 (D) 91-265-2830782/ 781, 3093959/58 Fax No. :
91-265-2830369 Email : bgpatodia@modernpetrofils.in |
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For Export Marketing : |
Mr. Mangesh
Jadhav / Mr. Hiren Amin Protoprima
Chambers, 1, Suren Road, Near L and T Health Centre, Andheri (East), Mumbai -
400093, Maharashtra, India. Telephone :
91-22-26831569/ 66973798 Mobile :
91-9820503039 Fax No. :
91-22-26836536/ 66910491 Email : mangesh@modernpetrofils.in |
DIRECTORS
As on 20.09.2012
|
Name : |
Mr. Kamal Ranka |
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Designation : |
Managing director |
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Address : |
7/8, Sidaarth, 42, RG Thadani Marg, Worli Seaface, Mumbai – 400018, Maharashtra,
India |
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Date of Birth/Age : |
19.12.1964 |
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Qualification: |
B. Com |
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Date of Appointment : |
19.10.2012 |
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PAN No.: |
AACPR1124Q |
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DIN No.: |
00934876 |
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Other Directorship:
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Name : |
Mr. Rajgopalan Venugopal |
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Designation : |
Director |
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Address : |
102, Tarigopuca Residency, 35th Main BTM Layout – II Stage,
Bangalore - 560068, Karnataka, India |
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Date of Birth/Age : |
05.06.1946 |
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Qualification: |
B. Sc |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
00391817 |
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Other Directorship:
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Name : |
Mr. Hiralal Sharma |
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Designation : |
Director |
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Address : |
605-A, Mansarowar Building, Near Chinchole Crossing, Malad (West),
Mumbai – 400064, Maharashtra, India |
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Date of Birth/Age : |
03.01.1951 |
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Qualification: |
B. Com |
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Date of Appointment : |
30.03.2000 |
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DIN No.: |
00352410 |
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Other Directorship:
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Name : |
Mr. Devidas Tulsiram Gokhe |
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Designation : |
Director |
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Address : |
B – 407, Sindhu, Lokgram Kalyan, Thane – 421306, Maharashtra, India |
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Date of Birth/Age : |
04.07.1955 |
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Date of Appointment : |
30.12.2010 |
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DIN No.: |
01878132 |
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Other Directorship:
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Name : |
Mr. Niraj Rathore |
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Designation : |
Additional director |
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Address : |
59, Sardar Patel Marg, C-Scheme, Jaipur – 302001, Rajasthan, India |
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Date of Birth/Age : |
21.10.1963 |
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Date of Appointment : |
20.09.2012 |
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DIN No.: |
01280510 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Deepak Kumar Goyal |
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Designation : |
Secretary |
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Address : |
A-301, Amar Nagar – C, PAnchawala, Srsi Road, JAipur – 302034,
Rajasthan, India |
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Date of Birth/Age : |
18.08.1981 |
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Date of Appointment : |
01.02.2011 |
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PAN No.: |
ARJPG5393G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2012
Equity Shares details Not Available
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Cosmic Holding Private Limited, India |
|
450000 |
|
General Insurance Corporation of India, India |
|
250000 |
|
The New India Assurance Company Limited, India |
|
250000 |
|
United India Insurance Company
Limited, India |
|
210000 |
|
National Insurance Corporation Limited, India |
|
170000 |
|
The Oriental Insurance Company Limited, India |
|
170000 |
|
|
|
|
|
Total |
|
1500000 |
Equity Share Break up (Percentage of Total Equity)
As on 20.09.2012
|
Category |
Percentage |
|
Government
companies |
0.19 |
|
Public financial companies |
24.80 |
|
Nationalised or other banks |
0.14 |
|
Mutual funds |
1.20 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
5.32 |
|
Bodies corporate |
34.50 |
|
Other top fifty shareholders |
1.07 |
|
Other |
32.78 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and sale of Polyester Filament Yarn,
Polyester Viscose Fabric and Polyester Viscose Yarn. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity * |
Installed
Capacity |
|
Chips/POY/PFY |
per annum |
Not Applicable |
52500 MT |
Note: * De-licensed as per Government of India Notification No.S.O.477
(E) dated 25th July 1991.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
T. R. Chadha and Company Chartered Accountants |
|
Address : |
1, Smruti, Ground Floor, M.V. Panlosakar Road, Near Hanuman Cross Road
No. 2, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFT1655Q |
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Relative of Key Management Personnel with whom transactions have been
entered: |
Shubham Corporate Advisory Services Private Limited, India CIN: U74140MH2003PTC141048 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital : Rs.
1600.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1282.166
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 |
|
1282.166 |
1282.166 |
|
(b) Reserves & Surplus |
|
(2810.885) |
(2550.984) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
450.000 |
450.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
(1078.719) |
(818.818) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
6.000 |
8.888 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
24.960 |
22.144 |
|
Total Non-current
Liabilities (3) |
|
30.960 |
31.032 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
133.923 |
186.743 |
|
(b) Trade
payables |
|
219.736 |
262.320 |
|
(c) Other
current liabilities |
|
4101.194 |
4046.022 |
|
(d) Short-term
provisions |
|
46.885 |
45.971 |
|
Total Current
Liabilities (4) |
|
4501.738 |
4541.056 |
|
|
|
|
|
|
TOTAL |
|
3453.979 |
3753.270 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1045.362 |
1143.384 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
3.351 |
3.347 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.021 |
0.021 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
69.273 |
68.330 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1118.007 |
1215.082 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
339.627 |
336.534 |
|
(c) Trade
receivables |
|
39.787 |
85.240 |
|
(d) Cash
and cash equivalents |
|
68.368 |
181.064 |
|
(e)
Short-term loans and advances |
|
292.128 |
325.757 |
|
(f) Other
current assets |
|
1596.062 |
1609.593 |
|
Total
Current Assets |
|
2335.972 |
2538.188 |
|
|
|
|
|
|
TOTAL |
|
3453.979 |
3753.270 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1282.166 |
|
|
2] Share Application Money |
|
|
450.000 |
|
|
3] Reserves & Surplus |
|
|
2192.929 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
3925.095 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3179.728 |
|
|
2] Unsecured Loans |
|
|
1482.821 |
|
|
TOTAL BORROWING |
|
|
4662.549 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8587.644 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1372.058 |
|
|
Capital work-in-progress |
|
|
3.899 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.021 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
226.551
|
|
|
Sundry Debtors |
|
|
69.503
|
|
|
Cash & Bank Balances |
|
|
99.072
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
2400.860
|
|
Total
Current Assets |
|
|
2795.986
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
105.335
|
|
|
Other Current Liabilities |
|
|
147.939
|
|
|
Provisions |
|
|
56.240
|
|
Total
Current Liabilities |
|
|
309.514
|
|
|
Net Current Assets |
|
|
2486.472
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
Other Assets |
|
|
4725.194 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8587.644 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5039.766 |
6220.210 |
5046.157 |
|
|
|
Other Income |
32.707 |
10.419 |
4.572 |
|
|
|
TOTAL (A) |
5072.473 |
6230.629 |
5050.729 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4149.548 |
4975.605 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(32.704) |
(80.345) |
|
|
|
|
Employee benefit expense |
180.052 |
177.126 |
|
|
|
|
Other expenses |
793.592 |
903.996 |
|
|
|
|
TOTAL (B) |
5090.488 |
5976.382 |
2188.135 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(18.015) |
254.247 |
2862.594 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
100.962 |
105.266 |
92.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(118.977) |
148.981 |
2770.224 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
140.924 |
237.956 |
254.257 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(259.901) |
(88.975) |
2515.967 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(259.901) |
(88.975) |
2515.967 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(4743.913) |
(4725.194) |
(7402.361) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transferred from debenture redemption
Reserve |
NA |
0.000 |
1.612 |
|
|
BALANCE CARRIED TO
THE B/S |
NA |
(4743.913) |
(4725.194) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
NA |
306.328 |
240.501 |
|
|
TOTAL EARNINGS |
NA |
306.328 |
240.501 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
60.532 |
54.762 |
|
|
|
Capital Goods |
NA |
0.190 |
0.000 |
|
|
|
Components and Spares Parts |
NA |
13.525 |
23.229 |
|
|
TOTAL IMPORTS |
NA |
74.247 |
77.991 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(2.29) |
(0.16) |
(1.84) |
|
%20LIMITED%20-%20240081%2025-Oct-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(5.12)
|
(1.43) |
(49.81) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.16)
|
(1.43) |
(49.86) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.53)
|
(2.37) |
(149.62) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.24)
|
(0.11) |
(0.64) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(0.13)
|
(0.24) |
(1.19) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.52
|
0.56 |
9.03 |
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 |
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 |
No |
OPERATIONS
Due to weak domestic Textile markets and the continued recessionary
trend prevailing in the international Textile market, the value of finished
products have been falling progressively in comparison to the cost of raw
materials.
The effect of the Indian and international recession is quite visible on
the Textile Sector with Polyester having been affected the most. Overall, the selling pressure has resulted in
drastic decline in prices leading to huge losses for most of the Indian
Polyester Industry.
The Company has achieved a turnover of about Rs.5450.000 Millions
inspite of the adverse market situations in both India and
internationally. Due to continuous
operational losses, the Company is facing an acute shortage of working capital
that has adversely impacted the profitability of the Company for the year. Production cost has increased greatly due to
an increase in the raw material (PTA and MEG) prices along with increases in
the power cost due to exorbitant crude oil prices. During the year the overall textile market
has not shown any sign of improvement and Company had suffered net loss of
about Rs.260.00 Millions during the year compared to net loss of about
Rs.90.000 Millions in the previous year.
In view of accumulated losses, the directors are unable to declare any
dividend for the year.
EXPORTS
The worldwide recessionary trend has adversely affected the exports of
POY/PFY from the country. Despite the recessionary trend prevailing in the
global economic market, the Company has achieved exports of about Rs. 330.000
Millions during the year compared to the exports of Rs. 310.000 Millions in the
previous year. The Company is making all the efforts to explore the new markets
and improve its global market position.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80045767 |
30/12/1999 |
1,754,100,000.00 |
BANK OF INDIA |
NARIMAN POINT BRANCH,
AIR INDIA BUILDING, NARIMAN |
- |
|
2 |
80066940 |
12/03/1996 |
321,750,000.00 |
BANK OF INDIA |
NARIMAN POINT
BRANCH, AIR INDIA BUILDING, NARIMAN |
- |
|
3 |
80057561 |
12/01/1996 |
690,000,000.00 |
ICICI LIMITED |
C-15,
BANDRA-KURLA COMPLEX , BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
|
4 |
80066943 |
18/11/1995 |
277,000,000.00 |
BANK OF INDIA |
NARIMAN POINT BRANCH,
AIR INDIA BUILDING, NARIMAN |
- |
|
5 |
80066944 |
18/09/1997 * |
1,067,000,000.00 |
BANK OF INDIA |
NARIMAN POINT
BRANCH , AIR INDIA BUILDING, NARIMAN POINT, MUMBAI , MAHARASHTRA - 400021,
INDIA |
- |
|
6 |
80066941 |
18/09/1997 * |
1,471,000,000.00 |
BANK OF INDIA |
NARIMAN POINT
BRANCH, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI , MAHARASHTRA - 400021,
INDIA |
- |
|
7 |
80057556 |
28/09/1994 |
5,000,000.00 |
ICICI LIMITED |
C-15, BANDRA-KURLA
COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
|
8 |
80045214 |
28/09/1994 |
10,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT
CORPORATION OF INDIA LIMITED |
163, BACKBAY
RECLAMATION, MUMBAI, MAHARASHTRA - 40 |
- |
|
9 |
80057557 |
28/09/1994 |
10,000,000.00 |
ICICI LIMITED |
C-15,
BANDRA-KURLA COMPLEX , BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
|
10 |
80057558 |
28/09/1994 |
30,000,000.00 |
ICICI LIMITED |
C-15, BANDRA-KURLA
COMPLEX , BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
Note: * Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and
equipment
- Factory
equipments
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
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.99.53 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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.