MIRA INFORM REPORT
|
Report Date : |
09.04.2014 |
IDENTIFICATION DETAILS
|
GPT STEEL
INDUSTRIES LIMITED |
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|
|
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Formerly Known
As : |
GPT STEEL INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
102 Dev Shruti Complex, Near HCG Medisurge Hospita, Mithkali,
Ellisbridge, Ahmedabad – 380006, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.10.2003 |
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Com. Reg. No.: |
04-043070 |
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Capital
Investment / Paid-up Capital : |
Rs.2522.755
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104GJ2003PLC043070 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDG00715B |
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PAN No.: [Permanent Account No.] |
AACCG0010H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer
of Tin-Plates Coils and Sheets, CRFH, CRCA. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. There are accumulated losses recorded by the company which has eroded
networth of the company. Business is active. Payment terms are slow. The company can be considered for business dealing on a safe and
secured 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the public
to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000
denominations, pushing the deadline to January 1, 2015. A day before dates for
the Lok Sabha polls were announced, the government decided to hike interest
rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The
new rates will be effective April, 1. The Supreme Court will resume hearing on
March, 11 Nokia’s appeal against a ruling over transferring ownership of its
local mobile phones plant which is the subject of a tax dispute to Microsoft
Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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
Management Non Co-operative (91-22-66964292 / 9904406350)
LOCATIONS
|
Registered Office : |
102 Dev Shruti Complex, Near HCG Medisurge Hospita, Mithkali,
Ellisbridge, Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-26561815 / 91-22-66964292 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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Website : |
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Corporate Office : |
Parikh Group of Companies, 509-B, |
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Tel. No.: |
91-22-66964292 |
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Fax No.: |
91-22-66964293 |
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E-Mail : |
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Factory : |
301, Mithirohar, GIDC Estate, Phase II, Gandhidham, Kutch – 370 201, |
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Tel. No.: |
91-2836-650468 |
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Fax No.: |
91-2836-286444 |
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E-Mail : |
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International Office : |
Parikh Steel Industries ( |
|
Tel. No.: |
+44 (0)208 5409995 |
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Fax No.: |
+44 (0)208 5441787 |
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E-Mail : |
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Branch Office : |
Parikh Group of Companies, |
|
Tel. No.: |
91-124-4353600 |
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Fax No.: |
91-124-4353602 |
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E-Mail : |
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Mumbai Office : |
305, Business Point, 349, Western Express Highway, Andheri (East), Mumbai
– 400 069, Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Rajen Amritlal Parikh |
|
Designation : |
Whole-Time Director |
|
Address : |
16, Mandi Hills, |
|
Date of Birth/Age : |
19.01.1956 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
17.10.2003 |
|
DIN No.: |
00069594 |
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|
|
|
Name : |
Mr. Bharat Amtitlal Parikh |
|
Designation : |
Director |
|
Address : |
179, |
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Date of Birth/Age : |
04.10.1946 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
17.10.2003 |
|
DIN No.: |
02367476 |
|
|
|
|
Name : |
Mrs. Karuna Rajen Parikh |
|
Designation : |
Director |
|
Address : |
16, Mandi Hills, |
|
Date of Birth/Age : |
12.11.1984 |
|
Qualification : |
BA |
|
Date of Appointment : |
09.12.2008 |
|
DIN No.: |
02329036 |
MAJOR SHAREHOLDERS
SHAREHOLDING DETAILS
FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
20.45 |
|
Bodies corporate |
1.63 |
|
Directors or relatives of Directors |
71.66 |
|
Other top fifty shareholders |
6.26 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Tin-Plates Coils and Sheets, CRFH, CRCA. |
||||||
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||||||
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Products : |
·
Cold Rolled Full Hard (CRFH) ·
Cold Rolled Close Annealed (CRCA) ·
Tin Mill Black Plate (TMBP) ·
Tin Plate |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tin Plate |
TN |
200000 |
13327.790 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· State Bank of India, Corporate Finance Branch, 58 Shrijmali Society, Near Mithakali Six Roads, Navrangpura, Ahmedabad - 380 009, Gujarat, India · Bank of India, Sakinaka, Mumbai, Maharashtra, India · Bank of India, Vadodara, Gujarat, India · Bank of India, Gandhidham, Gujarat, India · Punjab National Bank, Ahmedabad, Gujarat, India · Standard Chartered Bank, Vadodara, Gujarat, India · Andhra Bank, Corporate Finance Branch, Nariman Point, Mumbai – 400 021, Maharashtra, India · State Bank of India (Lead Bank) , CAG Brach , 58 Shirimali Society, Navrangpura , Ahmedabad, Gujarat, India · Andhra Bank, No.33, III Floor, Atlanta Nariman Point Branch, Mumbai, Maharashtra, India · Bank of India, MDI Building , 1st Floor S.V. Road Andheri (West), Mumbai – 400 058, Maharashtra, India · Jammu and Kashmir Bank Limited , Block – D, 1st Floor North Side, Shiv Sagar Estate, Dr. A.B. Road , Mumbai, Maharashtra, India · Punjab National Bank, NSIC Bhavan, Okhla Industrial Estate, New Delhi – 110 020, India · State Bank of Bikaner and Jaipur, CG Road, (10-11) Empire Tower, Panchvati, Navrangpura , Ahmedabad, Gujarat, India · State Bank of Indore, Ashram Road Branch, Ahmedabad, Gujarat, India · State Bank of Saurashtra , IFC Branch, Gujarat Chamber of Commence Building, Ashram Road Branch, Ahmedabad, Gujarat, India · State Bank of Travancore, PB No.11 Ground Floor, Kaivanna, Ambawadi, Ahmedabad – 380 006, Gujarat, India · Syndicate Bank, 26-A, Sir P.M. Road, Syndicate Bank Building, Fort, Mumbai – 400 001, Maharashtra, India · UCO Bank , YMCA International Guest House, 18 Madam Cama Road, Mumbai – 400 039, Maharashtra, India · Union Bank of India , Union Bank of Bhavan, 23,9 Bidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Astutosh and Pankaj Chartered Accounts |
|
Address : |
239, Kuber, New |
|
Income-tax
PAN of auditor or auditor's firm : |
AAOFA9042Q |
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Related Parties
: |
· Parikh Steel Private Limited CIN No.: U28999WB1971PTC043848 |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
255000000 |
Equity Shares |
Rs.10/- each |
Rs.2550.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
252275507 |
Equity Shares |
Rs.10/- each |
Rs.2522.755 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2522.755 |
2522.755 |
2522.755 |
|
(b) Reserves & Surplus |
(2527.658) |
(2172.452) |
(1660.462) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
(4.903) |
350.303 |
862.293 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5650.771 |
5661.207 |
5613.800 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
43.011 |
24.831 |
0.000 |
|
(d) long-term
provisions |
2.591 |
3.691 |
3.686 |
|
Total Non-current
Liabilities (3) |
5696.373 |
5689.729 |
5617.486 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
4.064 |
3.919 |
0.195 |
|
(b) Trade
payables |
393.714 |
295.891 |
258.108 |
|
(c) Other
current liabilities |
307.626 |
291.327 |
265.859 |
|
(d) Short-term
provisions |
5.221 |
5.282 |
7.685 |
|
Total Current
Liabilities (4) |
710.625 |
596.419 |
531.847 |
|
|
|
|
|
|
TOTAL |
6402.095 |
6636.451 |
7011.626 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4484.967 |
4769.996 |
5062.429 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1469.380 |
1453.907 |
1466.695 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
45.226 |
61.380 |
63.490 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
5999.573 |
6285.283 |
6592.614 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
72.222 |
43.915 |
75.958 |
|
(c) Trade
receivables |
21.853 |
11.021 |
17.354 |
|
(d) Cash
and cash equivalents |
18.552 |
26.116 |
62.455 |
|
(e) Short-term
loans and advances |
1.261 |
25.157 |
62.552 |
|
(f) Other
current assets |
288.634 |
244.959 |
200.693 |
|
Total
Current Assets |
402.522 |
351.168 |
419.012 |
|
|
|
|
|
|
TOTAL |
6402.095 |
6636.451 |
7011.626 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
361.785 |
388.426 |
865.634 |
|
|
|
|
Other Income |
14.304 |
7.646 |
234.820 |
|
|
|
|
TOTAL (A) |
376.089 |
396.072 |
1100.454 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
326.877 |
345.358 |
695.881 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
9.683 |
6.374 |
69.237 |
|
|
|
|
Employee Benefits Expenses |
32.461 |
35.047 |
39.614 |
|
|
|
|
Other Expenses |
101.577 |
141.473 |
106.081 |
|
|
|
|
Exceptional Items |
0.060 |
0.565 |
18.304 |
|
|
|
|
Extraordinary Items |
(34.383) |
67.000 |
0.000 |
|
|
|
|
TOTAL (B) |
436.275 |
595.817 |
929.117 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(60.186) |
(199.745) |
171.337 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
9.910 |
23.758 |
14.524 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(70.096) |
(223.503) |
156.813 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
155.328 |
153.628 |
285.653 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
(225.424) |
(377.131) |
(128.840) |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(225.424) |
(377.131) |
(128.840) |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Exports |
17.173 |
26.838 |
100.446 |
|
|
|
TOTAL EARNINGS |
17.173 |
26.838 |
100.446 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
271.115 |
274.380 |
588.356 |
|
|
|
TOTAL IMPORTS |
271.115 |
274.380 |
588.356 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
(0.89) |
(1.49) |
(0.51) |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(59.94) |
(95.22) |
(11.71) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(62.31) |
(97.09) |
(14.88) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.57) |
(7.28) |
(2.32) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
45.98 |
(1.08) |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(1153.34) |
16.17 |
6.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.57 |
0.59 |
0.79 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
2522.755 |
2522.755 |
2522.755 |
|
Reserves & Surplus |
(1660.462) |
(2172.452) |
(2527.658) |
|
Net
worth |
862.293 |
350.303 |
(4.903) |
|
|
|
|
|
|
long-term borrowings |
5613.800 |
5661.207 |
5650.771 |
|
Short term borrowings |
0.195 |
3.919 |
4.064 |
|
Total
borrowings |
5613.995 |
5665.126 |
5654.835 |
|
Debt/Equity
ratio |
6.511 |
16.172 |
(1153.342) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
865.634 |
388.426 |
361.785 |
|
|
|
(55.128) |
(6.859) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
865.634 |
388.426 |
361.785 |
|
Profit |
(128.840) |
(377.131) |
(225.424) |
|
|
(14.88%) |
(97.09%) |
(62.31%) |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION
DETAILS:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Other Loans and
Advances |
4.064 |
3.919 |
|
|
|
|
|
Total |
4.064 |
3.919 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10036927 |
29/01/2007 |
120,000,000.00 |
STATE
BANK OF INDIA |
CORPORATE
FINANCE BRANCH, 58 SHRIMALI SOCIETY, NR |
A10564383 |
|
2 |
10036924 |
28/08/2008
* |
250,000,000.00 |
ASSET
RECONSTRUCTION COMPANY (INDIA) LIMITED |
SHREEPATI
ARCADE, AUGUST KRANTI MARG, NANA CHOWK, MUMBAI, MAHARASHTRA - 400036, INDIA |
A46394268 |
|
3 |
10036203 |
08/02/2007
* |
100,000,000.00 |
UNION
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400058, INDIA |
A10478766 |
|
4 |
80048632 |
28/08/2008
* |
2,727,500,000.00 |
ASSET
RECONSTRUCTION COMPANY (INDIA) LIMITED |
SHREEPATI
ARCADE, AUGUST KRANTI MARG,, NANA CHOWK, MUMBAI, MAHARASHTRA - 400036, INDIA |
A46394896 |
|
5 |
90104335 |
28/08/2008
* |
3,275,000,000.00 |
ASSET
RECONSTRUCTION COMPANY (INDIA) LIMITED |
SHREEPATI
ARCADE, AUGUST KRANTI MARG, NANA CHOWK, MUMBAI, MAHARASHTRA - 400036, INDIA |
A46395158 |
|
6 |
90105484 |
05/02/2005 |
2,400,000,000.00 |
PUNJAB
NATIONAL BANK; OKHLA INDUSTRIAL ESTATE. |
NEW
DELHI-110020, NEW DELHI - 110020, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Leasehold Land
· Furniture and Fixture
· Electrical Equipments
· Computer
· Vehicles
· Office Equipments
· Vehicles
·
Electric installation
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.59.95 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
15 |
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.