MIRA INFORM REPORT

 

 

Report Date :

18.12.2014

 

IDENTIFICATION DETAILS

 

Name :

SAJJAN INDIA LIMITED

 

 

Formerly Known As :

SAJJAN IMPEX LIMITED (w.e.f. 01.07.1990)

SAJJAN IMPEX PRIVATE LIMITED

 

 

Registered Office :

Matulya Centre, ‘A’ 12, Ground Floor, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

17.09.1983

 

 

Com. Reg. No.:

11-030874

 

 

Capital Investment / Paid-up Capital :

Rs.38.191 millions

 

 

CIN No.:

[Company Identification No.]

U51900MH1983PLC030874

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS42160G

 

 

PAN No.:

[Permanent Account No.]

AAACS6498M

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturing and Marketing of dye and agro intermediates, agro chemicals, and specialty chemicals used in pharmaceuticals, agrochemicals, dyes, pigments, and electronics. 

 

 

No. of Employees :

500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (53)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 13330400

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist 

 

 

Comments :

Subject is a well-established company having fine track record.

 

As per ROC the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to the financial for the year 2014 are not available from any sources.

 

As per available financial of 2013, general position of the company is sound. Networth of the company seems to be decent.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments.

 

The company can be considered good for normal business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

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 31-03-2014.

 

INFORMATION DECLINED BY

 

Name :

Mr. Vijay

Designation :

Accounts Department

Contact No.:

91-22-24974400

Date :

17.12.2014

 

 

LOCATIONS

 

Registered/ Head Office :

Matulya Centre, ‘A’ 12, Ground Floor, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India

Tel. No.:

91-22-67300700/ 24974400/ 24974401/ 24975700

Fax No.:

91-22-24950588/ 24951098

E-Mail :

sajjan@bom2.vsnl.net.in

sil@sajjan.com

mehta@sajjan.com

Website :

http://www.sajjan.com

 

 

Factory :

Plot No.6117-19, GIDC, Ankleshwar, District Bharuch – 393 003, Gujarat, India

Tel. No.:

91-2646-22180/ 52181

Fax No.:

91-2646-52181

 

 

Dahej - New Site :

Located at:

 

·         Dahej, Gujarat, India

 

 

Representative Office :

Located at:

 

·         North America

·         Japan

 

 

DIRECTORS

 

AS ON 25.09.2014

 

Name :

Mr. Kartikeya Maheshwari

Designation :

Director

Address :

507, Raheja Centre, 214, Nariman Point, Mumbai – 400 021, Maharashtra, India

Date of Birth/Age :

28.10.1974

Date of Appointment :

12.08.2004

DIN No.:

00078494

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U99999MH1961PTC012229

UNIVERSAL CHEMICALS AND INDUSTRIES PRIVATE LIMITED

Whole-time director

01-12-2010

05-07-1994

-

Active

NO

2

U51900MH1946PTC004815

JAYASHREE TRADERS PRIVATE LIMITED

Whole-time director

01-08-2011

01-01-1996

-

Active

NO

3

U24246MH1969PTC014478

IIRNS PUBLICATIONS PRIVATE LIMITED

Director

31-07-1996

31-07-1996

23-07-2008

Active

NO

4

U67120MH1980PTC023349

RIVIERA INVESTORS PRIVATE LIMITED

Director

02-11-1998

02-11-1998

-

Active

NO

5

U74140MH1978PTC020492

UNIVERSAL LABORATORIES PRIVATE LIMITED

Director

01-02-1999

01-02-1999

13-05-2010

Active

NO

6

U51900MH1983PLC030874

SAJJAN INDIA LIMITED

Director

12-08-2004

12-08-2004

-

Active

NO

7

U24119MH2006PTC164256

UNIVERSAL FINE CHEMICALS PRIVATE LIMITED

Director

01-09-2006

01-09-2006

20-12-2008

Active

NO

8

U24233MH2007PLC170668

SAJJAN SPECIALTY LIMITED

Director

08-05-2007

08-05-2007

-

Active

NO

 

 

Name :

Mr. Madhav Prasad Aggarwal

Designation :

Director

Address :

15-B, Darbhanga Mansion, 3rd Floor, 12, Carmichael Road, Mumbai – 400 026,  Maharashtra, India

Date of Birth/Age :

21.09.1962

Date of Appointment :

25.12.1997

DIN No.:

00109434

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51900MH1953PTC009132

AGARWAL MARKETING PRIVATE LIMITED

Director

04-02-1985

04-02-1985

-

Active

NO

2

U25110MH1988PTC049781

SAJJAN OVERSEAS PRIVATE LIMITED

Director

25-11-1988

25-11-1988

-

Active

NO

3

U24246MP1974PTC001269

SAJJAN CHEMICALS PRIVATE LIMITED

Director

01-09-1997

01-09-1997

-

Active

NO

4

U51900MH1983PLC030874

SAJJAN INDIA LIMITED

Director

25-12-1997

25-12-1997

-

Active

NO

5

U24233MH2007PLC170668

SAJJAN SPECIALTY LIMITED

Director

08-05-2007

08-05-2007

-

Active

NO

6

U51900MH2007PTC170918

AGRASEN IMPEX PRIVATE LIMITED

Director

17-05-2007

17-05-2007

-

Active

NO

7

U24233MH2010PTC198856

AGRASEN DYES AND INTERMEDIATES PRIVATE LIMITED

Director

13-01-2010

13-01-2010

-

Active

NO

8

U70102MH2011PTC217100

AGARWAL VENTURES PRIVATE LIMITED

Director

05-05-2011

05-05-2011

-

Active

NO

9

U45203MH2012PTC225944

AGARWAL SKY HEIGHTS VENTURES PRIVATE LIMITED

Director

11-01-2012

11-01-2012

-

Active

NO

10

U45400MH2012PTC226148

AGARWAL HERITAGE PRIVATE LIMITED

Director

17-01-2012

17-01-2012

-

Active

NO

 

 

Name :

Mr. Raj Kumar Seksaria

Designation :

Whole-time Director

Address :

A-3, HImbndu, Sector-10, Navi Mumbai – 400 703, Maharashtra, India

Date of Birth/Age :

12.12.1951

Date of Appointment :

02.05.2010

DIN No.:

02604654

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51900MH1983PLC030874

SAJJAN INDIA LIMITED

Whole-time director

02-05-2010

16-03-2009

-

Active

NO

2

U24110MH1996PTC104121

SAJJAN CHEMICALS AND INVESTMENTS PRIVATE LIMITED

Director

30-09-2009

20-03-2009

-

Active

NO

3

U24233MH2007PLC170668

SAJJAN SPECIALTY LIMITED

Director

30-09-2009

20-03-2009

-

Active

NO

4

U51909MH2011PTC220827

ABHAY VENTURES PRIVATE LIMITED

Director

10-08-2011

10-08-2011

-

Active

NO

 

 

MAJOR SHAREHOLDERS

 

AS ON 25.09.2014

 

Names of Shareholders

 

 

No. of Shares

Priyanka M. Agarwal

 

64500

M. P. Agarwal HUF

 

955400

Sushama M. Agarwal

 

124000

Priyata International, India held in the name of M. P. Agarwal

 

700000

Om International, India held in the name of  Sushama Agarwal

 

364000

Sajjan Overseas Private Limited, India 

 

140000

Agarwal Marketing Private Limited, India

 

977200

Manisha Saraf

 

10

Madhav Prasad Agarwal

 

493990

Total

 

3819100

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 25.09.2014

 

Category

Percentage

Bodies corporate

29.25

Directors or relatives of Directors

42.89

Other top fifty shareholders

27.86

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Marketing of dye and agro intermediates, agro chemicals, and specialty chemicals used in pharmaceuticals, agrochemicals, dyes, pigments, and electronics. 

 

 

Products :

Item Code No. (ITC Code)

Product Description

29222911

PNOAP

 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

500 (Approximately)

 

 

Bankers :

Banker Name

Standard Chartered Bank

Branch Address

Crescenzo, 3A/F, Plot No.C-38 and C-39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India 

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

·         ABN Amro Bank N.V., 74, Sakhar Bhavan, 7th Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India

·         Citibank N. A., First International Financial Centre, 9th Floor, Plot No.C-54, C-55, G-Block, BKC, Bandra, Mumbai – 400 051, Maharashtra, India

·         ING Vysya Bank Limited, Mittal Towers, A-Wing, Ground Floor, 210 Nariman Point, Mumbai – 400 021, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

SHORT TERM BORROWINGS

 

 

Rupee Term Loans From Banks

(Secured by charge / Hypothecation of Stock of – Raw Materials, Stores and Spares,)

100.000

0.000

Foreign currency term loans from banks

(Secured by charge / Hypothecation of Stock of – Raw Materials, Stores and Spares, Stock in Process, Finished-Goods and Book Debts)

283.682

235.801

Total

383.682

235.801

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Sankarlal Jain and Associates

Chartered Accountants

Address :

12, Engineer Building, 265, Princess Street, Mumbai – 400 002, Maharashtra, India

PAN No.:

AACFS6967Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries :
  • Abhay Ventures Private Limited (CIN No.: U51909MH2011PTC220827)
  • Agarwal Heritage Private Limited (CIN No.: U45400MH2012PTC226148)
  • Agarwal Sky Heights Ventures Private Limited (CIN No.: U45203MH2012PTC225944)
  • Agarwal Ventures Private Limited (CIN No.: U70102MH2011PTC217100)
  • Agrasen Dyes and Intermediates Private Limited (CIN No.: U24233MH2010PTC198856)
  • Agrasen Impex Private Limited (CIN No.: U51900MH2007PTC170918)
  • Sajjan Specialty Limited (CIN No.: U24233MH2007PLC170668)

 

 

Associates :

Sajjan Chemicals Private Limited (CIN No.: U24246MP1974PTC001269)

 

 

CAPITAL STRUCTURE

 

AS ON 25.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

10000000

Equity Shares

Rs.10/- each

Rs.100.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

3819100

Equity Shares

Rs.10/- each

Rs.38.191 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

38.191

38.191

38.191

(b) Reserves & Surplus

4627.459

4121.217

3737.399

(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)

4665.650

4159.408

3775.590

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) Long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

0.000

0.000

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

383.682

235.801

46.402

(b) Trade payables

396.694

327.033

246.433

(c) Other current liabilities

75.058

72.657

107.765

(d) Short-term provisions

6.123

4.560

21.641

Total Current Liabilities (4)

861.557

640.051

422.241

 

 

 

 

TOTAL

5527.207

4799.459

4197.831

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

861.220

687.424

675.546

(ii) Intangible Assets

0.824

1.024

1.224

(iii) Capital work-in-progress

18.020

114.907

30.272

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1336.671

414.363

390.827

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

536.790

644.315

498.487

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2753.525

1862.033

1596.356

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

584.124

1245.958

1115.640

(b) Inventories

874.123

723.861

682.763

(c) Trade receivables

917.955

580.128

421.163

(d) Cash and cash equivalents

13.803

11.444

20.972

(e) Short-term loans and advances

354.211

361.621

351.077

(f) Other current assets

29.466

14.414

9.860

Total Current Assets

2773.682

2937.426

2601.475

 

 

 

 

TOTAL

5527.207

4799.459

4197.831

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from Operations

3647.629

2780.988

2704.861

 

 

Other Income

130.425

129.935

62.526

 

 

TOTAL                                     (A)

3778.054

2910.923

2767.387

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Material Consumed

1918.269

1352.166

1053.764

 

 

Purchase of Stock In Trade

28.011

78.866

114.610

 

 

Changes in inventories of Finished goods, work in progress and stock in trade

(70.904)

24.209

(21.752)

 

 

Employee benefits expenses

205.836

147.442

120.107

 

 

Other Expenses

884.231

673.093

586.982

 

 

TOTAL                                     (B)

2965.443

2275.776

1853.711

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

812.611

635.147

913.676

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

11.214

6.021

4.184

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

801.397

629.126

909.492

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

151.467

145.031

131.888

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                (G)

649.930

484.095

777.604

 

 

 

 

 

Less

TAX                                                                  (H)

130.000

100.000

158.000

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

519.930

384.095

619.604

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB value of goods exported

3277.648

2411.574

2377.489

 

 

Others

0.000

0.703

 

 

TOTAL EARNINGS

3277.648

2412.277

2377.489

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

681.978

318.853

439.877

 

TOTAL IMPORTS

681.978

318.853

439.877

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

136.14

100.57

153.88

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT/Sales)

(%)

14.25

13.81

22.91

 

 

 

 

 

Operating Profit Margin

(PBDIT/ Sales)

(%)

22.28

22.84

33.78

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

15.58

11.34

20.59

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14

0.12

0.21

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.08

0.06

0.01

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.22

4.59

6.16

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(INR in Mlns.)

(INR in Mlns.)

(INR in Mlns.)

Share Capital

38.191

38.191

38.191

Reserves & Surplus

3737.399

4121.217

4627.459

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

3775.590

4159.408

4665.650

 

 

 

 

Long Term borrowings

0.000

0.000

0.000

Short Term borrowings

46.402

235.801

383.682

Total borrowings

46.402

235.801

383.682

Debt/Equity ratio

0.012

0.057

0.082

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Revenue from Operations

2,704.861

2,780.988

3,647.629

 

 

2.814

31.163

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Revenue from Operations

2,704.861

2,780.988

3,647.629

Profit

619.604

384.095

519.930

 

22.91%

13.81%

14.25%

 

 

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

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

No

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

 

CASE DETAILS

 

BENCH:-BOMBAY

 

Presentation Date:- 11.09.2014

 

Lodging No.:-

ITXAL/1695/2014         

Filing Date:-

11.09.2014

Reg. No.:

ITXA/1532/2014          

Reg. Date:-

08.10.2014

 

Petitioner:-

THE COMMISSIONER OF INCOME TAX-7

Respondent:-

SAJJAN INDIA LIMITED

Petn. Adv.:-

NIRMAL CHANDRA MOHANTY (I10407)

Resp. Adv.:-

SANJIV M. SHAH (RESPONDENT) (I3629)

District:-

MUMBAI

 

Bench:-

DIVISION

Status:-

Pre-Admission

Category:-

TAX APPEALS

Last Date:-

24.12.2014

Stage:-

FOR ADMISSION

 

Last Coram:-

HON’BLE SHRI JUSTICE S.C. DHARMADHIKARI

HON’BLE SHRI JUSTICE A.A. SAYED

 

 

 

Act :-

Income Tax Act, 1961

Under Section:-

260 A

 

 

 

 

 

PERFORMANCE:

 

During the year, the Company has earned income from operation of Rs.3778.053 millions in comparison to Rs.2910.923 millions in the previous year. The Company has earned net profit after tax of Rs.519.930 millions as compared to Rs.384.095 millions during the previous year. The directors are hopeful of better performance in the current financial year.

 

 

INDEX OF CHARGES:

 

S.No

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10480652

13/01/2014

250,000,000.00

ING VYSYA BANK LIMITED

MITTAL TOWERS, A-WING, GROUND FLOOR, 210 NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

B97615074

2

10471765

02/01/2014

250,000,000.00

CITIBANK N. A.

FIRST INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR, PLOT NO.C-54, C-55, G-BLOCK, BKC, BANDRA, MUMBAI, MAHARASHTRA - 400051, INDIA

B94088895

3

10182498

01/07/2013 *

400,000,000.00

STANDARD CHARTERED BANK

CRESCENZO, 3A/F, PLOT NO. C-38 AND C-39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA

B81720625

4

90235417

18/09/1989

5,000,000.00

BANK OF INDIA

BOMBAY OVERSEAS BRANCH, 3RD FLOOR; C WING MITTAL TOWER ; NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA

-

5

90235340

18/08/1993 *

3,500,000.00

BANK OF INDIA

BOMBAY OVERSEAS BRANCH, 3RD FLOOR; C WING MITTAL TOWER ; NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA

-

 

*Date of modification Charges

 

 

FIXED ASSETS

 

·         Goodwill

·         Lease Hold Land

·         Plot at Lonawala

·         Factory Building

·         Factory Building (CPP)

·         Bungalow and Flats

·         Admin Building

·         Lab Premises

·         Plant and Machinery

·         Plant and Machinery (CPP)

·         Electrical Installations

·         Laboratory Equipment

·         Office Equipment

·         Computer

·         Furniture and Fixture

·         Vehicles

·         Cycles

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.58

UK Pound

1

Rs.99.98

Euro

1

Rs.79.39   

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

-- PROFITABILITY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--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

 

53

 

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

 

--

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.