MIRA INFORM REPORT
|
Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
BEST CORPORATION PRIVATE LIMITED (w.e.f.06.11.2007) |
|
|
|
|
Formerly Known
As : |
R R D TEX LIMITED |
|
|
|
|
Registered
Office : |
89/2, Padmavathi Puram Avanashi Road, Tirupur – 641603, Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.03.2004 |
|
|
|
|
Com. Reg. No.: |
18-011016 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 45.400
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111TZ2004PTC011016 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR6828G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engages in Manufacture Sales and Export of Yarn, Cloth, Garments and Generation of Wind Energy |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The company has seen a steep deline in its sales turnover as well as net
profitability during 2012. However, financial position appears to be decent. Trade relations are fair. Business is active. Payment terms are
reported as 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.
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
|
Registered Office : |
89/2, Padmavathi Puram Avanashi Road, Tirupur – 641603, Tamil Nadu,
India |
|
Tel. No.: |
91-421-3980000 |
|
Fax No.: |
91-421-3980398 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 10.09.2012
|
Name : |
Mr. Sennimalai Gounder Ramasamy |
|
Designation : |
Director |
|
Address : |
4, Best Avenue Rayapuram Main Road, Tirupur – 641601, Tamil Nadu,
India |
|
Date of Birth/Age : |
08.03.1946 |
|
Date of Appointment : |
04.03.2004 |
|
PAN No.: |
ABWPR6902K |
|
DIN No.: |
01555694 |
|
|
|
|
Name : |
Mr. Rajkumar Ramasamy |
|
Designation : |
Director |
|
Address : |
4, Best Avenue Rayapuram Main Road, Tirupur – 641601, Tamil Nadu,
India |
|
Date of Birth/Age : |
16.10.1970 |
|
Date of Appointment : |
04.03.2004 |
|
PAN No.: |
ACZPR8091H |
|
DIN No.: |
01506017 |
|
|
|
|
Name : |
Mr. Dhanapal Ramasamy |
|
Designation : |
Director |
|
Address : |
4, Best Avenue Rayapuram Main Road, Tirupur – 641601, Tamil Nadu,
India |
|
Date of Birth/Age : |
02.11.1975 |
|
Date of Appointment : |
04.03.2004 |
|
PAN No.: |
ACAPD5365R |
|
DIN No.: |
01506153 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 10.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sennimalai Gounder Ramasamy |
|
191600 |
|
Rajkumar Ramasamy |
|
158400 |
|
Dhanapal Ramasamy |
|
99000 |
|
Ramasamy G. |
|
5000 |
|
|
|
|
|
Total |
|
454000 |
Equity Share Break up (Percentage of Total Equity)
As on: 10.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engages in Manufacture Sales and Export of Yarn, Cloth, Garments and Generation of Wind Energy |
||||
|
|
|
||||
|
Products : |
Ø Knitted garments for Men, Women, Teeners, Schoolers and Toddlers. Specialization in Underwear and Babywear Ø 100% Cotton yarn ranging from 20’s NE to 60’s NE Ø 100% Cotton Finished fabric (Dyed, Printed, Yarn dyed) Ø Cotton / Elastane Greige and Finished Fabric Ø Elastic tapes using imported rubber and elastane
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Installed
Capacity |
|
Spindles |
65520 |
|
Windmill |
31 MW |
|
Particulars |
Units |
Production |
|
Yarn |
Kgs |
9364310 |
|
Waste |
Kgs |
3063084 |
|
Garments |
Pcs |
48402170 |
|
Power |
Units |
49500662 |
GENERAL INFORMATION
|
Customers : |
Ø Hanes Inc, USA Ø Champion Ø Adidas Ø Mothercare, UK Ø C and A, Germany
Ø Next Ø Tesco Ø ASDA Ø Barely There |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Ø Oriental Bank of Commerce, Tirupur Branch, Tirupur - 641602, Tamil Nadu, India Ø Corporation Bank, Tirupur Branch, Mangalam Road, Tirupur - 641604, Tamil Nadu, India Ø State Bank of India, Specialised Commercial Bank, Stanes Road, Tirupur - 641602, Tamil Nadu, India Ø ABN Amro Bank N.V. No. 48, Global Trade Center (Opp. Velan Hotel), Kangeyam Road,, Tirupur - 641604, Tamil Nadu, India Ø Oriental Bank of Commerce, Plot No.35 and 36, Binny Compound Complex, Kumaran Road,, Tirupur - 641601, Tamil Nadu, India Ø State Bank of India, Overseas Branch, Tirupur, Tirupur - 641601, Tamil Nadu, India Ø State Bank of Travancore, Tirupur Branch, Tirupur - 641601, Tamil Nadu, India Ø Corporation Bank, Mangalam Road, Tirupur - 641604, Tamil Nadu, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A L T N and Company Chartered Accountants |
|
Address : |
28(1)/20A, Sabari Towers, KRR Layout Main Street, Mangalam Road, Tirupur - 641604, Tamil Nadu, India |
|
PAN No.: |
AAHFA5196J |
|
|
|
|
Associates: |
Ø Best Colour Solutions India Private Limited Ø RRD Holdings India Private Limited Ø Best Finance Corporation Private Limited Ø S R and Sons Ø Best Knitting Company Ø Best Apparels Private Limited Ø Best Knitwear Exports Private Limited |
CAPITAL STRUCTURE
As on: 10.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1400000 |
Equity Shares |
Rs.100/- each |
Rs. 140.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
454000 |
Equity Shares |
Rs.100/- each |
Rs. 45.400
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
45.400 |
45.400 |
|
(b) Reserves & Surplus |
|
1285.126 |
1136.475 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
9.591 |
6.573 |
|
Total Shareholders’
Funds (1) + (2) |
|
1340.117 |
1188.448 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
354.685 |
561.570 |
|
(b) Deferred tax liabilities (Net) |
|
208.309 |
256.241 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
5.829 |
1.511 |
|
Total Non-current
Liabilities (3) |
|
568.823 |
819.322 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
198.365 |
470.599 |
|
(b) Trade payables |
|
426.626 |
540.223 |
|
(c) Other current liabilities |
|
160.161 |
212.316 |
|
(d) Short-term provisions |
|
55.025 |
66.029 |
|
Total Current
Liabilities (4) |
|
840.177 |
1289.167 |
|
|
|
|
|
|
TOTAL |
|
2749.117 |
3296.937 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1222.264 |
1469.525 |
|
(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 |
|
3.650 |
3.650 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
62.756 |
55.073 |
|
(e) Other Non-current assets |
|
0.048 |
0.096 |
|
Total Non-Current
Assets |
|
1288.718 |
1528.344 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
315.571 |
38.800 |
|
(b) Inventories |
|
321.481 |
647.070 |
|
(c) Trade receivables |
|
334.942 |
405.952 |
|
(d) Cash and cash equivalents |
|
73.729 |
512.180 |
|
(e) Short-term loans and advances |
|
391.041 |
129.821 |
|
(f) Other current assets |
|
23.635 |
34.770 |
|
Total Current Assets |
|
1460.399 |
1768.593 |
|
|
|
|
|
|
TOTAL |
|
2749.117 |
3296.937 |
|
SOURCES OF FUNDS |
|
|
31.03.20109 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
45.400 |
|
|
2] Share Application Money |
|
|
264.143 |
|
|
3] Reserves & Surplus |
|
|
825.832 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1135.375 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1387.469 |
|
|
2] Unsecured Loans |
|
|
27.812 |
|
|
TOTAL BORROWING |
|
|
1415.281 |
|
|
DEFERRED TAX LIABILITIES |
|
|
268.373 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2819.029 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1451.388 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
183.917 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
528.306 |
|
|
Sundry Debtors |
|
|
347.057 |
|
|
Cash & Bank Balances |
|
|
626.058 |
|
|
Other Current Assets |
|
|
94.121 |
|
|
Loans & Advances |
|
|
297.617 |
|
Total
Current Assets |
|
|
1893.159 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
637.875 |
|
|
Provisions |
|
|
72.239 |
|
Total
Current Liabilities |
|
|
710.114 |
|
|
Net Current Assets |
|
|
1183.045 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.679 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2819.029 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
3770.800 |
4787.000 |
4241.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
3346.100 |
4153.200 |
3621.200 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
424.700 |
633.800 |
620.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
279.500 |
260.100 |
256.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
145.200 |
373.700 |
363.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.400 |
63.100 |
114.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
142.800 |
310.600 |
249.400 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
912.400 |
601.800 |
352.400 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1055.200 |
912.400 |
601.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2865.900 |
3361.200 |
3062.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
9.301 |
13.281 |
NA |
|
|
|
Stores & Accessories |
88.162 |
80.817 |
NA |
|
|
|
Capital Goods |
8.341 |
54.671 |
NA |
|
|
|
Spares Parts |
7.227 |
11.109 |
NA |
|
|
TOTAL IMPORTS |
113.031 |
159.878 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
314.53 |
6842.30 |
5494.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.79 |
6.49 |
5.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.29 |
11.35 |
10.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.31 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.41 |
0.87 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.37 |
2.67 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2012 |
As on 31.03.2011 |
|
Long term
borrowings |
|
|
|
Deferred payment liabilities |
19.910 |
23.396 |
|
|
|
|
|
Short term
borrowings |
|
|
|
Deferred payment liabilities |
0.479 |
0.000 |
|
Total |
20.389 |
23.396 |
PERFORMANCE
The Directors inform you that the turnover including other income for the year is Rs. 37.708 millions as against Rs. 47.870 millions for the preceding year. The Net Profit before Depreciation & Tax for the year under review is Rs. 4.247 millions as against Rs. 6.338 millions for the preceding year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10077432 |
14/03/2012 * |
1,277,100,000.00 |
State Bank of India |
Specialised Commercial Bank, Stanes Road, Tirupur |
B36776755 |
|
2 |
10058463 |
14/03/2012 * |
300,000,000.00 |
Indian Bank |
Tirupur Branch, Court Road, Tirupur, Tamil Nadu -641601, INDIA |
B38212130 |
|
3 |
10043881 |
14/03/2012 * |
53,200,000.00 |
Oriental Bank of Commerce |
Tirupur Branch, Tirupur, Tamil Nadu - 641602, INDIA |
B38342812 |
|
4 |
10001926 |
19/03/2006 |
35,400,000.00 |
STATE BANK OF MYSORE |
TIRUPUR BRANCH,, TIRUPUR, Tamil Nadu - 641601, INDIA |
A00681742 |
|
5 |
10001928 |
19/03/2006 |
252,100,000.00 |
STATE BANK OF TRAVANCORE |
TIRUPUR BRANCH,, TIRUPUR, TIRUPUR, Tamil Nadu - 6 |
A00681825 |
|
6 |
10002090 |
19/03/2006 |
354,000,000.00 |
STATE BANK OF MYSORE |
TIRUPUR BRANCH, TIRUPUR, Tamil Nadu - 641601, INDIA |
A00773820 |
|
7 |
80005399 |
14/03/2012 * |
200,000,000.00 |
State Bank of Travancore |
Tirupur Branch, 32, RAILWAY FEEDER ROAD, Tirupur, |
B37880333 |
|
8 |
80005395 |
14/03/2012 * |
200,000,000.00 |
State Bank of Mysore |
Tirupur Branch, 72, APPACHI NAGAR MAIN ROAD, Tirupur, Tamil Nadu - 641601, INDIA |
B38333548 |
|
9 |
90001894 |
06/03/2006 * |
110,000,000.00 |
CORPORATION BANK |
MAIN BRANCH, 333, MANGALAM ROAD, TIRUPPUR, Tamil |
- |
|
10 |
90004687 |
14/03/2012 * |
136,900,000.00 |
Indian Overseas Bank |
Tirupur Branch, RASI TOWERS, NO.23 60 FEET ROAD, |
B38179271 |
|
11 |
90007243 |
20/02/2006 * |
120,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TIRUPUR, Tamil Nadu, INDIA |
- |
|
12 |
90001649 |
14/03/2012 * |
909,100,000.00 |
Corporation Bank |
Tirupur Branch, Mangalam Road, Tirupur, Tamil Nadu - 641604, INDIA |
B38332300 |
|
13 |
90007160 |
12/11/2003 |
96,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TIRUPUR, Tamil Nadu, INDIA |
- |
|
14 |
90007130 |
25/07/2003 |
80,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TIRUPUR, Tamil Nadu, INDIA |
- |
|
15 |
90007059 |
27/02/2002 |
21,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TIRUPUR, Tamil Nadu, INDIA |
- |
|
16 |
90006993 |
20/02/2006 * |
132,700,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TIRUPUR, Tamil Nadu, INDIA |
- |
|
17 |
90006981 |
17/02/2000 |
60,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TIRUPUR, Tamil Nadu, INDIA |
- |
|
18 |
90006601 |
18/01/1993 * |
1,600,000.00 |
BHARAT OVERSEAS BANK LIMITED |
575; D. B. ROAD, R. S. PURAM, COIMBATORE, Tamil Nadu, INDIA |
- |
|
19 |
90006573 |
28/02/1992 * |
800,000.00 |
BHARAT OVERSEAS BANK LIMITED |
575; D. B. ROAD, R. S. PURAM, COIMBATORE, Tamil Nadu, INDIA |
- |
|
20 |
90006572 |
09/03/1995 * |
800,000.00 |
BHARATH OVERSEAS BANK LTD. |
TIRUPUR, TIRUPUR, Tamil Nadu, INDIA |
- |
|
21 |
90006559 |
21/04/1999 * |
2,000,000.00 |
STATE BANK OF INDIA |
TIRUPUR, TIRUPUR, Tamil Nadu, INDIA |
- |
|
22 |
90006538 |
08/01/1993 * |
16,400,000.00 |
STATE BANK OF INDIA |
TIRUPUR BRANCH, TIRUPUR, Tamil Nadu, INDIA |
- |
Fixed Assets:
Ø Land and Buildings
Ø Plant and equipment
Ø Furniture and fixtures
Ø Vehicles
Ø Motor 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. 66.57 |
|
|
1 |
Rs. 103.34 |
|
Euro |
1 |
Rs. 88.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.