MIRA INFORM REPORT

 

 

Report Date :

19.12.2014

 

IDENTIFICATION DETAILS

 

Name :

CORRTECH INTERNATIONAL PRIVATE LIMITED

 

 

Registered Office :

51, Mahagujarat Industrial Estate, Opposite Nova Petrochemicals, Sarkhej – Bavla Highway, Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

08.06.1982

 

 

Com. Reg. No.:

04-038664

 

 

Capital Investment / Paid-up Capital :

Rs.145.450 Millions

 

 

CIN No.:

[Company Identification No.]

U29130GJ1982PTC038664

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMC00080D

 

 

PAN No.:

[Permanent Account No.]

AAACC0134G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The Subject is engaged in the business of Pipeline Construction, Cathodic Protection Systems and Horizontal Directional Drilling (HDD).

 

 

No. of Employees :

Information declined by the management   

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having satisfactory track record.

 

Management of the company has not filed its latest financials i.e. 2014 with the government department.

 

As per available financial of 2013, there seems some dip in the turnover and profit of the company. However, networth of the company is satisfactory. General financial position of the company is normal and acceptable for business dealings.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

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

 

NOTES:

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

 

 

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 DENIED

 

Management Non Co-operative (91-79-26563443 / 91-2717-668800)

 

LOCATIONS

 

Registered Office/ Factory/ Pipeline Division :

51, Mahagujarat Industrial Estate, Opposite Nova Petrochemicals, Sarkhej – Bavla Highway, Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat, India

Tel. No.:

91-2717-304100 to 199

Fax No.:

91-2717- 304150

E-Mail :

corrtech.corrtech@gmail.com

corrtech@corrtech.in

info@corrtech.in

corrtech@eth.net

Website :

http://www.corrtech.in

 

 

Cathodic Protection System Division :

22, Dhara Centre, Vijay Cross Roads, Navrangpura, Ahmedabad – 380009, Gujarat, India

Tel. No.:

91-79-26563443 / 26420119 / 39873100/ 26420118/ 26568639/ 26563443/ 26568639/ 26424400/ 26420118

Fax No.:

91-79-26431615

 

 

Factory 2 :

Shed No.7, Survey No.407, SP – 3, New Ahmedabad Industrial Estate, Near Sarvoday Hotel, Sarkhej Bavla Road, Village Moraiya, Changodor, Ahmedabad – 382213, Gujarat, India

 

 

DIRECTORS

 

AS ON 30.09.2013

 

Name :

Mr. Sandeep Indrasen Mittal

Designation :

Director

Address :

D -33, Aryaman Bunglows, Next to Railway Crossing, Thaltej Shilaj Road, Shilaj, Ahmedabad - 380059,Gujarat, India

Date of Birth/Age :

02.04.1968

Date of Appointment :

18.08.1997

DIN No.:

01643818

PAN No.:

AFRPM1147C

 

 

Name :

Mr. Amit Indrasen Mittal

Designation :

Managing Director

Address :

38, Akashneem, Opposite Nehru Foundation, Bodakdev, Ahmedabad - 380054, Gujarat, India

Date of Birth/Age :

01.08.1966

Date of Appointment :

20.03.1997

DIN No.:

01644010

PAN No.:

ABOPM5343D

 

 

Name :

Mr. Shreyans Poonamchand Jain

Designation :

Nominee director

Address :

Flat No. 1002, A-Wing, Blossom, Dosti Acres, Wadala (East), Mumbai - 400037, Maharashtra, India

Date of Birth/Age :

03.06.1980

Date of Appointment :

24/01/2013

DIN No.:

06419979

 

 

KEY EXECUTIVES

 

Name :

Mrs. Anita Ashokkumar Chellani

Designation :

Secretary

Address :

K/2, Shyamal Appartment, Kubernagar, Ahmedabad - 382340, Gujarat, India

Date of Appointment :

30/12/2013

PAN No.:

AKEPC6266G

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2013

 

Names of Shareholders

 

No. of Shares

% of Holding

Sandeep Mittal

2393995

16.46

Amit Mittal

2306060

15.85

I.S. Mittal HUF

121700

0.84

Kavita A. Mittal

1074370

7.39

Harinis. Mittal

986435

6.78

IEC Projects Limited

1407000

9.67

Shailesh Javia

1500

0.01

Axis Infrastructure Fund 1, India

3781700

26.00

In The Joint Name of Shashibala Mittal, Amit Mittal and Kavita A. Mittal

1236120

8.50

In The Joint Name of Shashibala Mittal, Sandeep Mittal and Harini S. Mittal

1236120

8.50

Total

14545000

100.00

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2013

 

Category

Percentage

Bodies corporate

35.67

Directors or relatives of Directors

64.33

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

The Subject is engaged in the business of Pipeline Construction, Cathodic Protection Systems and Horizontal Directional Drilling (HDD).

 

 

Products :

Item Code No.

 

Product Description

9953

Laying down oil and gas pipeline

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

 

 

Customers :

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :
  • Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Raod, Worli, Mumbai – 400018, Maharashtra, India
  • UCO Bank, MID Corporate Branch, UCO Bhavan, Ahmedabad – 380009, Gujarat, India

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

Rupee term loans from banks

7.168

84.292

Term loans from others

89.299

153.102

Other loans and advances

11.974

1.654

 

 

 

Short Term Borrowings

 

 

Working capital loans from banks

855.817

685.927

 

 

 

Total

964.258

924.975

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

B S R and Company

Chartered Accountants

Address :

Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M. Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India

PAN No.:

AAIFB4734C

 

 

Membership :

--

 

 

Joint venture :
  • Corrtech Trenchless Private Limited

 

 

Subsidiary company :
  • Corrtech Energy Limited
  • Control Plus Oil And Gas Solutions Private Limited

 

 

Fellow Subsidiary company :
  • MJB India Industrial Repairs Private Limited

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :
  • Corrtech Trencless Consortium LLP
  • IEC Projects Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15000000

Equity Shares

Rs.10/- each

Rs.150.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

14545000

Equity Shares

Rs.10/- each

Rs.145.450 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

145.450

145.450

145.450

(b) Reserves & Surplus

891.903

865.448

821.139

(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)

1037.353

1010.898

966.589

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

350.836

447.014

319.398

(b) Deferred tax liabilities (Net)

103.119

125.721

114.180

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

1.204

1.393

Total Non-current Liabilities (3)

453.955

573.939

434.971

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

860.817

685.927

618.172

(b) Trade payables

574.664

512.701

620.553

(c) Other current liabilities

795.811

709.692

558.799

(d) Short-term provisions

5.831

49.411

15.962

Total Current Liabilities (4)

2237.123

1957.731

1813.486

 

 

 

 

TOTAL

3728.431

3542.568

3215.046

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1484.050

1495.489

1485.630

(ii) Intangible Assets

0.000

4.236

5.533

(iii) Capital work-in-progress

6.113

0.000

48.934

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

120.078

120.078

120.078

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

71.641

17.341

7.367

(e) Other Non-current assets

3.368

15.121

84.451

Total Non-Current Assets

1685.250

1652.265

1751.993

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

858.100

656.561

560.007

(c) Trade receivables

780.116

691.486

537.140

(d) Cash and cash equivalents

169.219

176.523

86.653

(e) Short-term loans and advances

228.488

341.887

260.274

(f) Other current assets

7.258

23.846

18.979

Total Current Assets

2043.181

1890.303

1463.053

 

 

 

 

TOTAL

3728.431

3542.568

3215.046

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

 

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

 

 

 

 

Other Income

 

 

 

 

 

TOTAL                                    

2542.747

2638.101

2431.334

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

2505.404

2579.037

2640.218

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE PRIOR PERIOD ADJUSTMENTS AND TAXES

37.343

59.064

(208.884)

 

 

 

 

 

Add

PRIOR PERIOD ADJUSTMENTS

0.000

0.000

45.749

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

37.343

59.064

(163.135)

 

 

 

 

 

Less

TAX                                                                 

10.890

14.755

60.666

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX

26.453

44.309

(223.801)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

231.959

187.650

411.451

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

258.412

231.959

187.650

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

812.856

137.663

64.336

 

 

 

 

 

 

Earnings / (loss) Per Share (Rs.)

1.82

3.05

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Return on Total Assets

(PBT/Total Assets}

(%)

1.04

1.73

-5.36

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.04

0.06

-0.17

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.17

1.12

0.97

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.91

0.97

0.81

 

 

 

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

145.450

145.450

145.450

Reserves & Surplus

821.139

865.448

891.903

Net worth

966.589

1010.898

1037.353

 

 

 

 

long-term borrowings

319.398

447.014

350.836

Short term borrowings

618.172

685.927

860.817

Total borrowings

937.570

1132.941

1211.653

Debt/Equity ratio

0.970

1.121

1.168

 

 

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

2431.334

2638.101

2542.747

 

 

8.504

(3.614)

 

 

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

2431.334

2638.101

2542.747

Profit

(223.801)

44.309

26.453

 

(9.20%)

1.68%

1.04%

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Rs. In Millions

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

Current maturities of long term debt

261.030

304.602

372.858

 

 

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

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:

 

 

HIGH COURT OF GUJARAT

 

COMPANY PETITION No. 244 of2013

 

 

Status : PENDING

( Converted from : O/ST/2396/2013 )

CCIN No : 001058201300244

 

 

Next Listing Date:

21/01/2015

 

Coram

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

·          

 

 

S.NO.

Name of the Petitioner

Advocate On Record

1

HDFC BANK LTD.

MR PM DAVE for: Petitioner(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

S.NO.

Name of the Respondant

Advocate On Record

1

CORRTECH INTERNATIONAL PVT LTD

MRS SANGEETA N PAHWA for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

 

Presented On

: 04/09/2013

Registered On

: 05/09/2013

Bench Category

: -

District

: AHMEDABAD

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 26 times

StageName

: NOTICE RETURNABLE MATTERS

 

 

Classification
  • SJ - OJ - COMPANY APPLICATION - COMPANIES ACT, 1956 - WINDING UP - 433 AND 434

Act
  • COMPANIES ACT, 1956

 

 

 

 

 

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

04/09/2013

VAKALATNAMA

MR PM DAVE ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

5

MR PM DAVE(263) for P:1

2

04/09/2013

MEMO OF APPEAL/PETITION/SUIT

MR PM DAVE ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

100

MR PM DAVE(263), for P:1

3

14/10/2013

VAKALATNAMA

MRS SANGEETA N PAHWA ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

5

MRS SANGEETA N PAHWA(527) for R:1

4

17/10/2013

AFFIDAVIT OF DS

MR PM DAVE ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

0

MR PM DAVE(263) for P:1

5

22/04/2014

AFFIDAVIT IN REPLY

MRS SANGEETA N PAHWA ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

0

MRS SANGEETA N PAHWA(527) for R:1

Linked Matters

 

 

 

Court Proceedings

 

S. No.

Notified Date

CourtCode

Board Sr. No.

Stage

Action

Coram

1

10/09/2013

13

1

ADMISSION (FRESH MATTERS)

NEXT DATE

·         HONOURABLE MR.JUSTICE K.M.THAKER

2

20/09/2013

13

10

ADJOURNED MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE K.M.THAKER

3

21/10/2013

13

27

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE K.M.THAKER

4

22/11/2013

15

17

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE K.M.THAKER

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

5

03/12/2013

15

33

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

6

18/12/2013

15

26

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

7

20/12/2013

15

33

NOTICE RETURNABLE MATTERS

 

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

8

24/12/2013

15

48

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

9

10/01/2014

15

23

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

10

27/01/2014

15

39

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

11

11/02/2014

15

23

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

12

03/03/2014

15

39

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

13

19/03/2014

9

42

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

14

28/03/2014

9

35

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

15

10/04/2014

9

34

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

16

21/04/2014

9

33

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

17

06/05/2014

9

28

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

18

19/06/2014

9

22

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

19

30/06/2014

9

32

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

20

10/07/2014

9

28

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

21

11/08/2014

9

36

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

22

25/08/2014

18

41

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

23

09/09/2014

17

20

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

24

13/10/2014

18

32

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

25

21/11/2014

18

21

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

26

15/12/2014

18

37

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

27

21/01/2015

18

37

NOTICE RETURNABLE MATTERS

 

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

Download

1

COMPANY PETITION/244/2013

·         HONOURABLE MR.JUSTICE K.M.THAKER

20/09/2013

N

ORDER

-

Y

Download

 

2

COMPANY PETITION/244/2013

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

03/12/2013

N

ORDER

-

Y

Download

 

3

COMPANY PETITION/244/2013

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

10/01/2014

N

ORDER

-

Y

Download

 

4

COMPANY PETITION/244/2013

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

10/04/2014

N

ORDER

-

Y

Download

 

5

COMPANY PETITION/244/2013

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

10/07/2014

N

ORDER

-

Y

Download

 

6

COMPANY PETITION/244/2013

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

25/08/2014

N

ORDER

-

Y

Download

 

7

COMPANY PETITION/244/2013

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

09/09/2014

N

ORDER

-

Y

Download

 

8

COMPANY PETITION/244/2013

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

21/11/2014

N

ORDER

-

Y

Download

 

9

COMPANY PETITION/244/2013

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

15/12/2014

N

ORDER

-

Y

Download

 

 

NOTE: Registered office of the company has been shifted from 22, Dhara Centre, Vijay Cross Roads, Navrangpura, Ahmedabad – 380009, Gujarat, India to the present address w.e.f.22.10.2010

 

 

UNSECURED LOANS:

 

Particulars

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

Working capital loans from banks

202.395

207.966

Intercorporate borrowings

40.000

0.000

 

 

 

Short Term Borrowings

 

 

Loans repayable on demand

5.000

0.000

 

 

 

Total

247.395

207.966

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10530845

30/09/2014

1,622,500,000.00

AXIS BANK LIMITED

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G
ARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

C33090374

2

10428601

02/05/2013

11,500,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

TATA CAPITAL FINANCIAL SERVICES LIMITED, DR. V. B
. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B75850016

3

10410334

20/02/2013

96,000,000.00

AXIS BANK LIMITED

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G
ARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B69728079

4

10406981

08/01/2013

90,000,000.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA

B69110047

5

10331011

01/04/2013 *

490,000,000.00

AXIS BANK LIMITED

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G
ARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B75075986

6

10270542

10/02/2011

32,883.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI,MAHARASHTRA - 400013, INDIA

B07516651

7

10270543

10/02/2011

169,408.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B07516719

8

10270717

10/02/2011

355,754.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B07659386

9

10270532

10/02/2011

355,755.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B07516362

10

10270536

10/02/2011

355,755.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B07516404

11

10270537

10/02/2011

355,760.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B07516479

12

10270540

10/02/2011

355,760.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B07516537

13

10270721

10/02/2011

355,760.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B07660509

14

10270722

10/02/2011

355,760.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B07660657

15

10270541

10/02/2011

3,320,405.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B07516610

16

10254953

28/09/2012 *

18,981,058.00

BAJAJ FINANCE LIMITED

AKURDI PUNE-, PUNE, MAHARASHTRA - 411035, INDIA

B62546239

17

10249076

06/07/2012 *

150,000,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B44249050

18

10246800

08/10/2010

3,700,000.00

TATA CAPITAL HOUSING FINANCE LIMITED

SHANTI ARCADE, THIRD FLOOR,, NEAR B.D.PATEL HOUSE, NARANPURA, AHMEDABAD, GUJARAT - 380013, INDIA

A96755301

19

10241501

06/09/2010

355,757.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A94697885

20

10241991

06/09/2010

1,993,917.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A94694726

21

10241496

06/09/2010

18,434,085.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A94694502

22

10241499

06/09/2010

30,696,804.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A94695145

23

10194927

30/12/2009

5,243,436.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

A76266444

24

10191938

17/12/2009

36,491,218.00

ICICI BANK LIMITED

9TH FLOOR, SAKAR-I,, OPP. GANDHIGRAM RAILWAY STATION, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA

A75782359

25

10193751

17/09/2013 *

150,000,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B86839974

26

10186494

30/10/2009

24,250,000.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A73623969

27

10186497

30/10/2009

24,250,000.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A73624967

28

10186498

30/10/2009

24,250,000.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A73625352

29

10186499

30/10/2009

24,250,000.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A73589251

30

10176559

16/09/2009

39,474,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A70063359

31

10176560

16/09/2009

39,474,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A70063490

32

10175047

08/09/2009

13,107,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A69600609

33

10173473

02/09/2009

13,107,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A68913052

34

10171590

12/08/2009

19,824,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A68191188

35

10171571

12/08/2009

21,505,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A68172725

36

10171591

12/08/2009

26,420,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

A68190875

37

10159077

03/03/2012 *

294,879,000.00

AXIS BANK LTD.

2ND FLOOR, 3RD EYE ONE,, C. G. ROAD,, AHMEDABAD,
GUJARAT - 380009, INDIA

B34734046

38

10150547

14/03/2009

95,950,000.00

AXIS BANK

TRISHUL 3 RD FLOOR, LAW GARDEN, AHMEDABAD, GUJARAT - 380006, INDIA

A59333781

39

10136405

30/11/2008

1,031,875.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53867156

40

10136406

30/11/2008

1,062,500.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53867677

41

10136403

30/11/2008

1,093,125.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53868857

42

10136404

30/11/2008

1,093,125.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53868113

43

10173332

17/11/2008

548,115.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A56808520

44

10173333

17/11/2008

548,115.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A56809015

45

10172892

31/10/2008

481,950.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338505

46

10180686

31/10/2008

481,950.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A54266507

47

10180687

31/10/2008

481,950.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A54267232

48

10180688

31/10/2008

481,950.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A54268057

49

10180693

31/10/2008

481,950.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A54268891

50

10169232

31/10/2008

493,825.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53750519

51

10172893

31/10/2008

493,825.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53750667

52

10173330

31/10/2008

493,825.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53750790

53

10176611

31/10/2008

493,825.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338273

54

10169233

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A55805873

55

10169476

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A56249501

56

10172891

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338224

57

10172895

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53749792

58

10173015

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A56800659

59

10173093

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A56801137

60

10173331

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A56799851

61

10173606

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A55805089

62

10173608

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A55805477

63

10173609

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A56249824

64

10173611

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A56250053

65

10173612

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A56250236

66

10173683

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A55803795

67

10176603

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338331

68

10176605

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338208

69

10176606

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338158

70

10176613

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338547

71

10176615

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338422

72

10176617

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338372

73

10176622

31/10/2008

895,050.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338471

74

10176601

31/10/2008

1,300,885.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338067

75

10176608

31/10/2008

1,300,885.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A53338141

76

10129267

09/01/2014 *

2,723,751,686.00

AXIS BANK LIMITED

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA

B95478301

77

80026933

05/03/2007 *

570,500,000.00

UCO BANK

ASHRAM ROAD, NR SANYASH ASHRAM, ASHRAM ROAD,, AHMEDABAD, GUJARAT - 380009, INDIA

-

 

*Date of modification Charges

 

 

 

FIXED ASSETS:

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Computer equipments

 

Intangible assets

 

  • Brands and trade marks
  • Trade marks
  • Computer software

 

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 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.63.32

UK Pound

1

Rs.98.68

Euro

1

Rs.78.11

 

 

INFORMATION DETAILS

 

Information Gathered by :

JML

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NKT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

 

43

 

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.