MIRA INFORM REPORT
|
Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
ECL FINANCE LIMITED |
|
|
|
|
Registered
Office : |
Edelweiss House, Off. C.S.T Road, Kalina, Mumbai – 400098, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.07.2005 |
|
|
|
|
Com. Reg. No.: |
11-154854 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1891.848 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH2005PLC154854 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME06297E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE4916D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Non-Banking Financial Services including Financing, Money Lending, Bill Discounting, Factoring and Corporate Lending with or without securities. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 56850000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Edelweiss Group”. It is an established company
having good track record. Fundamentals of the company is decent. Financial position of company
is strong and healthy. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for
business dealing 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.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and January
of 2013/14 which has seen some signs of recovery according to a Care Ratings
report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA- (Long Term Rating) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
April 21, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Rating) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
April 21, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non Co-Operative (91-22-22864400)
LOCATIONS
|
Registered Office : |
Edelweiss House, Off. C.S.T Road, Kalina, Mumbai – 400098,
Maharashtra, India |
|
Tel. No.: |
91-22-40094400 |
|
Fax No.: |
91-22-40194890/ 40863610 |
|
E-Mail : |
DIRECTORS
As on: 02.09.2013
|
Name : |
Mr. Pudugramam Narayanaswamy Venkatachalam |
|
Designation : |
Director |
|
Address : |
Flat No. 3C, Settlur Manor No. 2, Sivaswamy Street, Opposite Dr. Radhakrishnan
Salai, Mylapore, Chennai-600004, Tamilnadu, India |
|
Date of Birth/Age : |
22.03.1944 |
|
Date of Appointment : |
11.07.2008 |
|
DIN No.: |
00499442 |
|
|
|
|
Name : |
Mr. Rujan Harchand Panjwani |
|
Designation : |
Director |
|
Address : |
26 Hem Prabha Bldg, 7th Floor, Marine Drive, Mumbai-400020,
Maharashtra, India |
|
Date of Birth/Age : |
07.04.1963 |
|
Date of Appointment : |
11.07.2008 |
|
DIN No.: |
00237366 |
|
|
|
|
Name : |
Mr. Raviprakash Ramautar Bubna |
|
Designation : |
Managing Director |
|
Address : |
1203, C Wing, Lakshchandi Height, Krishna Vatika Marg, Gokuldham,
Goregaon (East), Mumbai-400063, Maharashtra, India |
|
Date of Birth/Age : |
21.04.1967 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
00090160 |
|
|
|
|
Name : |
Mr. Rashesh Chandrakant Shah |
|
Designation : |
Managing Director |
|
Address : |
B-233 10th Floor, Kalpataru Horizon-B, S K Ahire Marg, Worli, Mumbai –
400018, Maharashtra, India |
|
Date of Birth/Age : |
30.09.1963 |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
00008322 |
|
|
|
|
Name : |
Mr. Himanshu Nalin Kaji |
|
Designation : |
Whole-Time Director |
|
Address : |
C/7 Ishwar Niwas Sicka Nagar, V. P. Road, Mumbai – 400004,
Maharashtra, India |
|
Date of Birth/Age : |
24.08.1965 |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
00009438 |
KEY EXECUTIVES
|
Name : |
Ms. Preeti Chhabria |
|
Designation : |
Secretary |
|
Address : |
9/10 Happy Dreams Premises, Plot No. 453, Road No. 33, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
25.07.1977 |
|
Date of Appointment : |
22.11.2007 |
|
PAN No.: |
AFEPC4850R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 02.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rashesh Shah Jointly with Edelweiss Financial Services Limited |
|
20 |
|
Venkatchalam Ramaswamy
Jointly with Edelweiss
Financial Services Limited |
|
20 |
|
Deepak Mittal Jointly with
Edelweiss Financial Services Limited |
|
20 |
|
Prasad Baji Jointly with Edelweiss
Financial Services Limited |
|
20 |
|
Edelweiss Financial Services Limited, India |
|
1499959009 |
|
Waverly Pte. Limited, Singapore |
|
147496000 |
|
Edelweiss Securities Limited, India |
|
97416683 |
|
Edelweiss Commodities Services Limited, India |
|
146976650 |
Equity Share Break up (Percentage of Total Equity)
As on: 02.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
7.80 |
|
Bodies corporate |
|
92.20 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Non-Banking Financial Services including Financing, Money Lending,
Bill Discounting, Factoring and Corporate Lending with or without securities. |
GENERAL INFORMATION
|
No. of Employees
: |
Information declined by the management |
||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M.
Joshi Marg, Mahalakshmi, Mumbai-400011, Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39836000 |
|
PAN No.: |
AADFB6889R |
|
|
|
|
|
|
|
|
|
|
Holding
Company : |
Edelweiss Financial Services Limited |
|
|
|
|
Associates : |
Aeon Credit Services India Private Limited |
|
|
|
|
Fellow Subsidiaries
: |
|
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6700000000 |
Equity Shares |
Rs.1/- each |
Rs.6700.000 Millions |
|
4000000 |
Preference shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.6740.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1891848462 |
Equity Shares |
Rs.10/- each |
Rs.1891.848 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 |
1891.848 |
1891.848 |
1891.848 |
|
(b) Reserves & Surplus |
12322.539 |
11090.080 |
10280.576 |
|
(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) |
14214.387 |
12981.928 |
12172.424 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12650.487 |
6790.739 |
4194.507 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
50.903 |
14.715 |
33.500 |
|
(d) long-term provisions |
206.538 |
151.152 |
74.750 |
|
Total
Non-current Liabilities (3) |
12907.928 |
6956.606 |
4302.757 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
30181.700 |
17624.734 |
12672.989 |
|
(b) Trade payables |
198.214 |
210.791 |
255.152 |
|
(c) Other current liabilities |
7201.202 |
3595.623 |
1508.956 |
|
(d) Short-term provisions |
116.178 |
219.127 |
120.921 |
|
Total
Current Liabilities (4) |
37697.294 |
21650.275 |
14558.018 |
|
|
|
|
|
|
TOTAL |
64819.609 |
41588.809 |
31033.199 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
270.365 |
279.307 |
9.016 |
|
(ii) Intangible Assets |
0.698 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4847.500 |
4650.000 |
1000.005 |
|
(c) Deferred tax assets (net) |
92.018 |
68.538 |
50.675 |
|
(d) Long-term Loan and Advances |
20973.260 |
11703.693 |
6297.938 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
26183.841 |
16701.538 |
7357.634 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.925 |
20.721 |
28.739 |
|
(b) Inventories |
7028.176 |
3342.656 |
4371.970 |
|
(c) Trade receivables |
31.843 |
279.020 |
38.282 |
|
(d) Cash and cash equivalents |
3654.061 |
309.654 |
197.365 |
|
(e) Short-term loans and
advances |
27298.292 |
20526.208 |
18611.398 |
|
(f) Other current assets |
622.471 |
409.012 |
427.811 |
|
Total
Current Assets |
38635.768 |
24887.271 |
23675.565 |
|
|
|
|
|
|
TOTAL |
64819.609 |
41588.809 |
31033.199 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from Operation |
6497.695 |
4012.358 |
4260.205 |
|
|
Other Income |
8.710 |
1.670 |
1.569 |
|
|
TOTAL
(A) |
6506.405 |
4014.028 |
4261.774 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
498.760 |
235.565 |
181.254 |
|
|
Other expenses |
802.005 |
733.409 |
766.183 |
|
|
TOTAL
(B) |
1300.765 |
968.974 |
947.437 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
5205.640 |
3045.054 |
3314.337 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES
(D) |
3354.881 |
1849.393 |
1771.230 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1850.759 |
1195.661 |
1543.107 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
19.252 |
10.581 |
1.821 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1831.507 |
1185.080 |
1541.286 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
619.818 |
375.576 |
523.099 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1211.689 |
809.504 |
1018.187 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3037.510 |
2389.910 |
1575.360 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to special reserve
under section 45-IC of the Reserve Bank of India Act, 1934 |
242.340 |
161.900 |
203.630 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
4006.870 |
3037.510 |
2389.910 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.64 |
0.43 |
0.54 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
18.62 |
20.17 |
23.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.19 |
29.54 |
36.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.06 |
3.21 |
5.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.09 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.01 |
1.88 |
1.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
1.15 |
1.63 |
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 |
1891.848 |
1891.848 |
1891.848 |
|
Reserves & Surplus |
10280.576 |
11090.080 |
12322.539 |
|
Net
worth |
12172.424 |
12981.928 |
14214.387 |
|
|
|
|
|
|
long-term borrowings |
4194.507 |
6790.739 |
12650.487 |
|
Short term borrowings |
12672.989 |
17624.734 |
30181.700 |
|
Total
borrowings |
16867.496 |
24415.473 |
42832.187 |
|
Debt/Equity
ratio |
1.386 |
1.881 |
3.013 |
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) |
|
Revenue from Operation |
4260.205 |
4012.358 |
6497.695 |
|
|
|
(5.818) |
61.942 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from Operation |
4260.205 |
4012.358 |
6497.695 |
|
Profit |
1018.187 |
809.504 |
1211.689 |
|
|
23.90% |
20.18% |
18.65% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of
long-term debt |
|
|
|
|
Term loan from bank |
450.000 |
0.000 |
0.000 |
|
Non-convertible redeemable debentures |
4446.446 |
2616.500 |
1266.900 |
|
Vehicle loans |
0.367 |
0.826 |
1.044 |
|
|
|
|
|
|
Total |
4896.813 |
2617.326 |
1267.944 |
|
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loan from Edelweiss Financial Services Limited the holding company [repayable on demand, at variable rate of interest] |
411.463 |
639.034 |
|
Inter-corporate deposit |
8.829 |
84.143 |
|
Commercial paper |
18080.000 |
9880.000 |
|
Less: Unamortised discount |
(342.934) |
(245.731) |
|
|
|
|
|
Total |
18157.358 |
10357.446 |
NOTE
The registered office of the company has been shifted from 14th
Floor, Express Towers, Nariman Point, Mumbai-400021, Maharashtra, India to the
present address w.e.f. 15.04.2011
OPERATIONS / FINANCIAL
PERFORMANCE
As an established leader in financing business, the company has generated significant revenues by expanding its lending activities. Respect for risk and qualitative improvement has been instrumental in the growth of the Company. The Company was not only able to manage its operations efficiently and effectively but was also able to increase the revenues by judiciously managing its funds during the year. This is represented by the growth in profits to Rs. 1211.690 millions from Rs. 809.500 millions in the previous year. The cumulative loan book size as on March 31, 2013 representing financing activities through various financial products is Rs. 47990.450 million against Rs. 31872.930 millions as on March 31, 2012.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10486013 |
03/03/2014 |
1,500,000,000.00 |
Andhra Bank |
16TH FLOOR, EARNEST HOUSE, NCPA MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
C00885566 |
|
2 |
10473963 |
21/01/2014 |
5,000,000,000.00 |
Axis Trustee Services Limited |
2ND FLOOR, AXIS HOUSE, BOMBAY DYEING MILLS, COMPOUND,
PANDURANG, BUDHKAR MARG, MUMBAI, MAHARASHTRA - |
B94684511 |
|
3 |
10485392 |
21/01/2014 |
7,500,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER - E, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B96691290 |
|
4 |
10474276 |
31/12/2013 |
1,000,000,000.00 |
State Bank of India |
BACKBAY RECLAMATION BRANCH, RAHEJA CHMABERS, FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B94967221 |
|
5 |
10473252 |
30/12/2013 |
500,000,000.00 |
State Bank of Bikaner and Jaipur |
235-237, PENINSULA HOUSE, DR. D.N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B94602919 |
|
6 |
10447399 |
07/08/2013 |
4,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER - E, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B83679605 |
|
7 |
10435247 |
28/06/2013 |
250,000,000.00 |
Abu Dhabi Commercial Bank |
75, REHMAL MANZIL,, VEER NARIMAN ROAD CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
B78914033 |
|
8 |
10435378 |
24/06/2013 |
600,000,000.00 |
Vijaya Bank Corporate Banking Branch |
31-C. DDR SHOPPING CENTRE, III FLOOR, OPP. MOOLCHAND HOSPITAL, DEFENCE COLONY, NEW DELHI, DELHI - 110024, INDIA |
B78990223 |
|
9 |
10426895 |
13/05/2013 |
800,000,000.00 |
Bank of India |
MUMBAI LARGE CORPORATE BRANCH, ORIENTAL BLDG, GROUND FLOOR, 364, D.N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B75544205 |
|
10 |
10423983 |
05/04/2013 |
5,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER - E, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B74138017 |
|
11 |
10417159 |
30/03/2013 |
500,000,000.00 |
DENA BANK |
DEEPAVALI, S.V.ROAD,, ANDHERI WEST, MUMBAI, MAHARASHTRA - 400058, INDIA |
B72406655 |
|
12 |
10423116 |
30/03/2013 |
750,000,000.00 |
Oriental Bank of Commerce |
181-A, MAKER TOWER 'E', 18TH FLOOR,, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B74194754 |
|
13 |
10413022 |
16/03/2013 |
1,000,000,000.00 |
Bank of Baroda |
CORPORATE FINANCIAL SERVICES BRANCH, 4TH FLOOR,10/12, MUMBAI SAMACHAR MARG, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B71150601 |
|
14 |
10400460 |
21/01/2013 |
500,000,000.00 |
State Bank of Hyderabad |
OVERSEAS BRANCH, 1204, ASHOK MAHAL, TULLOCH ROAD COLABA, MUMBAI, MAHARASHTRA - 400039, INDIA |
B66671652 |
|
15 |
10406255 |
21/01/2013 |
500,000,000.00 |
Allahabad Bank |
ALLAHABAD BANK BUILDING, GROUND FLOOR,37, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B68873975 |
|
16 |
10398832 |
27/12/2012 |
1,000,000,000.00 |
Indusland Bank Limited |
2401,GEN.THIMMAYYA ROAD,, (CANTONMENT), PUNE, MAHARASHTRA - 411001, INDIA |
B66421967 |
|
17 |
10394622 |
26/12/2012 |
800,000,000.00 |
Union Bank of India |
UNION BANK BHAVAN, INDUSTRIAL FINANCE BRANCH, 239 VIDHAN BHAVAN MARG, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
B65037921 |
|
18 |
10396218 |
24/12/2012 |
250,000,000.00 |
ING VYSYA BANK LIMITED |
SHOP NO. G1 TO G5,I FLOOR,SHOP NO.1001 TO 1007, |
B65608317 |
|
19 |
10396224 |
24/12/2012 |
750,000,000.00 |
ING VYSYA BANK LIMITED |
SHOP NO. G1 TO G5,I FLOOR, SHOP NO.1001 TO 1007, BARAKHAMBA ROAD, NEW DELHI, DELHI- 110001, INDIA |
B65611733 |
|
20 |
10392540 |
19/12/2012 |
1,000,000,000.00 |
Small Industries Development Bank of India |
MSME DEVELOPMENT CENTRE, C-11, G-BLOCK., BANDRA-KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
B64349020 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Building
- Leasehold improvements
- Furniture and Fixtures
- Vehicles
- Office equipment
- Computers
Intangible Assets
- Software
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.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.