MIRA INFORM REPORT
|
Report Date : |
26.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL BULK HANDLING CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
9th Floor,
Everest Nivara Infotech Park-1, Plot No. D-3, TTC Industrial Area, Turbhe – MIDC,
Navi
Mumbai – 400705, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.04.2005 |
|
|
|
|
Com. Reg. No.: |
11-152747 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 820.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63030MH2005PLC152747 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN1186B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Warehousing Facilities. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (38) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4306000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The reserves of the company are low but improving. There appears some
dip in the profit margin during 2012. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. 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 |
CARE |
|
Rating |
BBB+ (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
September 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A2 (Short Term Bank Facilities) |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
September 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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Bhaskar |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-30930500 |
LOCATIONS
|
Registered/ Administrative
Office
: |
9th Floor,
Everest Nivara Infotech Park-1, Plot No. D-3, TTC Industrial Area, Turbhe – MIDC,
Navi
Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-30930500 |
|
Fax No.: |
91-22-30930640/ 66866050 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
FT Tower, CTS No. 256 and 257, Suren Road, Chakala, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-30930500 |
|
Fax No.: |
91-22-66866050 |
|
|
|
|
Regional Offices : |
Located at: v Andhra Pradesh v Chhattisgarh v Delhi v Gujarat v Haryana v Karnataka v Kerala v Madhya Pradesh v Maharashtra v Orissa v Punjab v Rajasthan v Tamilnadu v Uttar Pradesh v Uttarakhand |
DIRECTORS
AS ON 21.09.2012
|
Name : |
Mr. Anil Kumar Choudhary |
|
Designation : |
Managing Director and CEO |
|
Address : |
Flat
No. 704, Tower 4, Raheja Tipco Heights, Off Rani Sati Marg, Malad [East],
Mumbai – 400097, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1961 |
|
Qualification : |
BA (HONS) |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
00133249 |
|
|
|
|
Name : |
Mr. Jignesh Prakash Shah |
|
Designation : |
Director |
|
Address : |
R-Square,
CTS No. 547, Plot No. 29, Jai Hind Society, N S. Road No. 12, JVPD Scheme,
Vile Parle (West), Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
12.01.1967 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
20.04.2005 |
|
DIN No.: |
00064913 |
|
|
|
|
Name : |
Mr. Ramanathan Devarajan |
|
Designation : |
Director |
|
Address : |
A-603,
Gundecha Altura, Opposite St. Xavier School, LBS Marg, Kanjur Marg (West), Mumbai
– 400078, Maharashtra, India |
|
Date of Birth/Age : |
06.05.1954 |
|
Qualification : |
C.A. |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
02604441 |
|
|
|
|
Name : |
Mr. Paras Kishorbhai Ajmera |
|
Designation : |
Director |
|
Address : |
501,
5th Floor Saskruti, N.S.
Road No. 9, Hatkesh CHS, JVPD, Vile Parle [West], Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
27.09.1972 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
23.09.2009 |
|
DIN No.: |
01381915 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Garg |
|
Designation : |
Secretary |
|
Address : |
1102, Aparna Building, Azad Nagar, Veera Desai Road, Andheri
[West] Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1972 |
|
Date of Appointment : |
21.08.2011 |
|
PAN No.: |
ABOPG9064F |
|
|
|
|
Name : |
Mr. Bhaskar |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2012
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Financial
Technologies (India) Limited |
75999994 |
76.00 |
|
Dewanft
Sunderraj Neralla* |
1 |
0.00 |
|
Manjay
P. Shah* |
1 |
0.00 |
|
C
Subramaniam* |
1 |
0.00 |
|
V. Hariharan* |
1 |
0.00 |
|
Hariraj
Chouhan* |
1 |
0.00 |
|
Shreekant
Javalgekar* |
1 |
0.00 |
|
Jyoti
Foundation |
3400000 |
3.40 |
|
FT
Foundation |
20000000 |
20.00 |
|
AASL
(India) Finvest Private Limited |
50000 |
0.05 |
|
Superfine
Agro Plast Limited |
50000 |
0.05 |
|
Tezaz
Trading Company Limited |
500000 |
0.50 |
|
|
|
|
|
Total |
100000000 |
100.00 |
*
Nominees of Financial Technologies (India) Limited
AS ON 21.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
93.41 |
|
Other
top fifty shareholders |
|
6.59 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Warehousing Facilities. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
800 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
v Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, DR. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India [Tel No.: 91-22-66699000] v HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India v Axis Bank Limited, Corporate Office, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India v Industrial Development Bank of India Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India v ICICI
Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat,
India v State Bank of
India, Commercial Branch (Loan) N.G.N. Vaidya Marg, Ban Street, Horiman
Circle Fort, Mumbai - 400001, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
22, Camac Street, Block C, 3rd Floor, Kolkata – 700016,
West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABSFS4151K |
|
|
|
|
Holding company : |
Financial Technologies
(India) Limited [L29142TN1988PLC015586] |
|
|
|
|
Fellow subsidiaries : |
v National Spot Exchange Limited v Tickerplant Limited v Takshashila Academia of Economic Research
Limited v Apian Finance and Investments Limited v Atom Technologies Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
140,000,000 |
Equity Shares |
Rs. 10/- each |
Rs.1400.000 Millions |
|
|
|
|
|
Issued & Subscribed :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs. 10/- each |
Rs.1000.000
Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
82,000,000 |
Equity Shares |
Rs. 10/- each |
Rs.820.000
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 |
|
820.000 |
820.000 |
|
(b) Reserves & Surplus |
|
256.604 |
224.451 |
|
(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) |
|
1076.604 |
1044.451 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
53.474 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
18.556 |
1.463 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
8.786 |
5.061 |
|
Total
Non-current Liabilities (3) |
|
80.816 |
6.524 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
886.588 |
1092.381 |
|
(b)
Trade payables |
|
122.686 |
80.400 |
|
(c)
Other current liabilities |
|
386.958 |
287.829 |
|
(d)
Short-term provisions |
|
1.210 |
3.010 |
|
Total
Current Liabilities (4) |
|
1397.442 |
1463.620 |
|
|
|
|
|
|
TOTAL |
|
2554.862 |
2514.595 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
267.989 |
183.956 |
|
(ii)
Intangible Assets |
|
75.166 |
60.583 |
|
(iii)
Capital work-in-progress |
|
4.052 |
3.326 |
|
(iv) Intangible assets under development |
|
9.292 |
29.481 |
|
(b) Non-current
Investments |
|
0.282 |
0.221 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
160.027 |
71.978 |
|
(e)
Other Non-current assets |
|
2.368 |
2.240 |
|
Total
Non-Current Assets |
|
519.176 |
351.785 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
3.299 |
3.076 |
|
(b)
Inventories |
|
1385.610 |
1500.532 |
|
(c)
Trade receivables |
|
326.649 |
317.448 |
|
(d)
Cash and cash equivalents |
|
84.223 |
53.783 |
|
(e)
Short-term loans and advances |
|
205.286 |
252.405 |
|
(f)
Other current assets |
|
30.619 |
35.566 |
|
Total
Current Assets |
|
2035.686 |
2162.810 |
|
|
|
|
|
|
TOTAL |
|
2554.862 |
2514.595 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
820.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
118.479 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
938.479 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
21.299 |
|
|
2] Unsecured Loans |
|
|
5.302 |
|
|
TOTAL BORROWING |
|
|
26.601 |
|
|
DEFERRED TAX LIABILITIES |
|
|
5.387 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
970.467 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
146.064 |
|
|
Capital work-in-progress |
|
|
57.351 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
231.367 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
28.800 |
|
|
Sundry Debtors |
|
|
304.533 |
|
|
Cash & Bank Balances |
|
|
63.870 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
281.215 |
|
Total
Current Assets |
|
|
678.418 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
102.209 |
|
|
Other Current Liabilities |
|
|
36.210 |
|
|
Provisions |
|
|
4.314 |
|
Total
Current Liabilities |
|
|
142.733 |
|
|
Net Current Assets |
|
|
535.685 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
970.467 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3590.346 |
2080.739 |
889.118 |
|
|
|
Other Income |
12.416 |
34.631 |
12.562 |
|
|
|
TOTAL (A) |
3602.762 |
2115.370 |
901.680 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
2244.700 |
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
118.983 |
(1468.350) |
|
|
|
|
Employee benefit expense |
293.290 |
316.049 |
|
|
|
|
Other expenses |
767.150 |
690.034 |
|
|
|
|
TOTAL (B) |
3424.123 |
1909.869 |
870.677 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
178.639 |
205.501 |
31.003 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
87.611 |
34.895 |
1.339 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
91.028 |
170.606 |
29.664 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.743 |
33.477 |
18.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
49.285 |
137.129 |
11.076 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.133 |
31.157 |
0.939 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
32.152 |
105.972 |
10.137 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
224.450 |
118.478 |
108.341 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
256.602 |
224.450 |
118.478 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.39 |
1.29 |
0.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.89
|
5.01 |
1.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.37
|
6.59 |
1.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.94
|
5.53 |
1.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.13 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.87
|
1.05 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.48 |
4.75 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
-- |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10420575 |
25/03/2013 |
750,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH (LOAN) N.G.N. VAIDYA MARG,, BAN STREET, HORIMAN CIRCLE FORT, MUMBAI -
400001, MAHARASHTRA, INDIA |
B73423295 |
|
2 |
10399797 |
05/01/2013 |
500,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B66709858 |
|
3 |
10377128 |
29/10/2012 * |
116,200,000.00 |
AXIS BANK
LIMITED |
CORPORATE
OFFICE, BOMBAY DYEING MILLS COMPOUND, P |
B62519897 |
|
4 |
10348442 |
08/06/2012 * |
750,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B42696559 |
|
5 |
10082160 |
08/02/2009 * |
750,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA,
INDIA |
A59414789 |
* Date of charge modification
OTHER CHARGES
THE DEBTS RECOVERY TRIBUNAL
(Shantikunj H. No. II, South Civil Lines, Jabalpur (MP) (Areas of
Jurisdiction : Madhya Pradesh)
SUMMONS FOR APPEARANCE AND SHOW CAUSE
Original Application No. 75/2012 Dated : 04.03.2012
(Summons to defendan! under Section 19 (4) of the Recovery of Debls due to Banks and Financial Institution Act. 1993 read with Rule 12 and 13 of the Debts Recovery Tribunal (Procedure) Rules, 1993
ORIGINAL APPLICATION NO. 75/2012
Indusind Bank Limited V/s Applicant
M/s. Kisan Bazaar and Ore. Defendants
(01) M/s. Kisan
Bazaar Prop., Shri Ashish Kumar Diwan
R/o. DK 3/13, IPS Bunglow, Danish Kunj, Kolar Road, Bhopal And R/o. H. No. 18, Subalya Vihar E-8, Ext. Bawadiya Kalan, Bhopal
(02) M/s. National
Bulk Handillng Corp.
Corp. Office at 401, Baston House. 4* Floor, Suren Road, Chakala, Andheri (E), Mumbai -400 093
(03) M/s. J. K. Agro
Farm Enterprise
Regd. Office at 8/3. Kartar Bhawan, Guru Nanakpura, Behind Petrol Pump, Raisen Road. Bhopal
In the above noted application (Copy of application along with copies of documents and affidavits annexed), above named Applicant has moved an Application in this tribunal for recovering a Claim of Rs. 14.455 Millions. You are, therefore hereby required to show cause within 30 days of the service of summons as to why the relief prayed for should not be granted personally or through you duly authorized agent or legal practitioner in this Tribunal and to appear before this Tribunal on 04.07.2012 at 10.30 a.m., falling which the application shall be heard and decided in your absence.
Given under my hand and the seal of the Tribunal, this 03.05.2012.
OPERATIONAL REVIEW:
During fiscal year 2012, the Company forayed into value added services, exports of commodities, further entrenchment in Trade Facilitation activities, and construction of their own warehouses at select places with improved facilities and to take advantage of economy of scale.
Pest Management Services as a vertical has been a focus for further enhancement, by way of re-engineering its activities and cash flows.
The revenue from warehousing and allied services (which include Collateral Management Services, Warehousing Services and pest Management Services) aggregated 85% of the total at Rs 1050.000 Millions, with Trade Facilitation at 14% at Rs 175.000 Millions.
A snapshot of the segmental revenues under warehousing and allied services shows that Collateral Management comprises 27.67% at Rs 340.000 Millions, with revenue from Storage and Warehouse Management Services at 45.76 % at Rs 560.000 Millions and external Pest Management Services at 11.46% at Rs. 142.000 Millions of the total revenue of the Company.
The segmental revenues for Trade Facilitation and Pest Management services show an increase of 141% and 34% respectively over the Previous Financial Year, whereas Warehousing and Collateral Management Services witnessed a decline, mainly on account of a lower crop production & delayed arrivals in some of the large commodities leading to sub optimal storages and funding. Also, carryover of large stocks of previous financial year by a number of their large clients resulted in lower funding requirements.
Notwithstanding the many challenges the Company faces such as the increase in the number of competitors from the unorganized segment of service providers, stringent lending norms of banks, crop production and storage requirements, etc. we continue to focus on their core competencies, according to their Vision and Mission Statements and within the overall FT Group Policy.
As at 31.3.2012, the Company has presence in 19 states with sales and administrative offices in 70 locations. QA laboratories number 20 across the country with Pest Management services across the country in 13 states. Storage Capacity is at 2.06 mmt covered in 13.47 in 547 storage facilities.
The Company has brought more banks under its partnership, now numbering 37, which cumulatively have funded 200+ commodities and over Rs 247000.000 Millions.
KEY MILSTONES IN FY12
Increased the total number of Banks associated with to 37
Forayed into ownership of warehouses at strategic locations through acquisition
and/or construction. Thus a total of owned capacity of about 43000 MTs will be
available from 1st quarter of FY13 at Tarana, Ganj Basoda, Bellary in the
states of MP and Karnataka respectively. Forayed into exports of commodities
FIXED ASSETS:
v Land
v Buildings
v Other building
v Plant and equipment
v Other plant and equipment
v Furniture and fixtures
v Vehicles
v Office equipment
v Motor vehicles
v Computer equipments
v Leasehold improvements
v Brands and trade marks
v Computer software
AS PER WEBSITE
DETAILS
Press Release
NBHC- Not a
warehousing agency for NSEL
Mumbai, 5th September, 2013: National Bulk Handling Corporation Limited
(NBHC) does not handle NSEL warehouses. NBHC managed stocks at 5 warehouses of
pre-stored commodities for NSEL only during June-July, 2013, in NBHC’s history
and also no warehouse receipts were issued by NBHC against this stock. The
assignment was just to manage the warehouses. It has since end of August given
back these warehouses to NSEL along with the balance stocks. As of date, NBHC
carries stocks worth Rs 6.500 Millions on behalf of NSEL.
Across locations in 19 states of India, it manages about Rs 55000.000
Millions worth of stocks, as of now, of which about Rs.42000.000 Millions of
stocks are funded by banks to the respective commodity owners, (farmers,
processors, traders etc) after the respective bank’s independent audit and due
diligence. NBHC manages warehouses/storage facilities for about 42 banks. It
also provides storage facilities to the corporates, farmers, processors,
traders, among others. It acts as a warehousing service provider for MCX, which
accounts for about 5-7% of NBHC’s total stock usually.
As a Collateral Manager (CM), NBHC gives banks a guarantee that it will
maintain the quality and quantity of the stock during its tenure. NBHC has a
detailed SOP to maintain stocks in its warehouses which ensures that the stocks
are of the same quality, variety and quantities as documented in its official.
It also issues warehouse receipts based on its SOPs. It holds stocks in trust
which are in the names of the respective depositors. In case the depositors
want the stock to be financed by a bank, a lien is marked in favour of the said
bank. At any point in time and under no circumstances is the same stock lien
marked in favour of more than one bank.
NBHC has seamlessly managed commodities worth about Rs.500000.000
Millions over the last 5-6 years through its elaborate and stringent continual
internal audits. Frequency of audit inspection is decided on risk weightage
assigned to each warehouse. It may also be noted that cumulatively banks have
lent about Rs.350000.000 Millions against NBHC’s warehouse receipts of about Rs.500000.000 Millions out
of which loans worth about Rs.320000.000 Millions have been repaid in the past
6-7 years. This stands testimony to the robust operational control and
integrity in management of stocks by NBHC.
In the light of NSEL development, most of the banks have conducted/ are
conducting audits of their stocks in NBHC’s warehouses and no deviations have
been found. All NBHC’s clients are from the commodity space, and are quite
familiar with the ecosystem of commodity warehousing. Clients are welcome to
visit the warehouses to check their stocks, to quell any fears whatsoever.
Clarification from National Bulk Handling Corporation Limited (NBHC)
Company's exposure in NSEL is less than 3% of NBHC's total warehousing
exposure
- The stocks in warehouses managed by the
Company as at 19.8.2013 are approx. Rs. 65000.000 Millions across
locations in 19 states.
- The Company as at 31.7.2013 had over
1500 storage/ warehouses and commodity management facilities under its
management under various commercial formats
- The NBHC has since inception of the
Company (2005-06) cumulatively managed over Rs. 490000.000 Millions of
stock for banks alone (about 22 million MTs).
- The Company has very robust operations
processes with elaborate audit process being an independent vertical with
25-30 auditors.
- The trust diligently built over the
past 7 years has resulted in NBHC being one of the leading collateral
managers - singularly and successfully managing / handling huge quantities
over the years, across the business verticals.
Mumbai, 26th August 2013: The National Bulk Handling
Corporation Limited today clarified its position and association with NSEL
stating that they are totally different entities and that they do not handle
NSEL warehouses except for stocks at 5 warehouses which have recently
(June/July 2013) been taken over. The stock belonging to NSEL comprises less
than 3% of the total stock handled by NBHC.
NBHC today is nationally one of the leading Companies in the private
sector offering integrated services in commodity and collateral management,
with pan-India operations and offers services to all eco-system participants.
The services include inter-alia supply chain management, warehousing,
collateral management, quality assaying, control and certification, commodity
and commercial pest management, audit, surveillance and valuation etc.
It is the first Indian warehousing and commodity management company to
be certified to ISO 22000:2005 and is also accredited to ISO 9001:2008 and ISO
17025:2005 for food grain, oil and seeds and spices and condiments , issued by
the National Accreditation Board for Testing and Calibration Laboratories
(NABL), under Ministry of Science and Technology, GOI. Besides, NBHC is a Grade
"F" Member of the Grain and Feed Trade Association (UK) due to its
globally benchmarked capabilities in quality assaying.
The value of the Stock in the warehouses managed by the Company as at
19.8.2013 are approx. Rs. 6500.00 crore across locations in 19 states. NBHC has
tie-ups for collateral management activities with banks (public sector, private
sector, RRBs, Co-operative Banks, etc.) and NBFCs. The nature of the seasonal
business entails continuous inflow and outflow of commodities for storage.
NBHC's services are offered to all eco-system participants across the
supply chain - i.e. farmers, traders, processors, corporates, government
entities, etc. The Company is managed by team of professionals from across the
industry. Further, the Company's operations, business format, revenue etc. are
independent of the other Group companies and are a function of its own
commercial and business vision and mission.
The Company as at 31.7.2013 had over 1500 storage/ warehouses and commodity
management facilities under its management under various commercial formats
such as leased, franchisee, owned and accredited, akin to its other industry
peers. These facilities are for the business lines pursued by the Company,
namely warehousing, collateral management, etc.
The Company has very robust operations' processes. The elaborate and
rigorous audit process is an independent vertical with 25-30 auditors, the
audit and surveillance department.
The stakeholders consider the fiduciary trust entrusted to the Company
impeccable and beyond doubt, which is a testimony of the fact that the Company
has since inception (2005-06) managed over Rs. 490000.000 Millions of stocks
for banks alone (about 22 million MTs) assets which are perishable agricultural
produce and cannot be stored beyond a reasonable period of time.
It is as a consequence of its robust operational processes, controls and
continuous overview that NBHC has brought unprecedented fiduciary trust in the
commodities / Agri-produce stored under its management.
While the Company has clients across the eco-system, within the Group
its warehousing services have been utilized only by MCX and for which NBHC has
over the past 7-8 years performed seamless, default free and precise depositary
services ever since its empanelment with the futures exchange.
The Company has not been empanelled with NSEL for managing the latter's
warehouses /depositary facilities. More specifically since June/July 2013,
related services of managing stocks at 5 warehouses have been taken over,
constituting at any point in time less than 3% of the entire stocks managed by
NBHC.
The immense trust diligently built over past 7 years has resulted in
NBHC being one of the leading collateral managers and Agri-warehouse services
operators in the private sector, singularly and successfully handling huge
quantities over the years for all participants in the eco-system.
There is absolutely no reason for any of the users of NBHC's services,
the ecosystem participants or anyone to have any apprehension regarding NBHC
and its services, in any manner whatsoever.
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 records 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. 62.70 |
|
|
1 |
Rs. 100.27 |
|
Euro |
1 |
Rs. 84.46 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
38 |
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.