MIRA INFORM REPORT
|
Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
EPP COMPOSITES PRIVATE LIMITED (w.e.f. 26.07.2006) |
|
|
|
|
Formerly Known
As : |
ELASTO POLYMER PROCESSORS ( |
|
|
|
|
Registered
Office : |
801, Iscon Elegance, S. G> Highway, Near Jain Derasar, Ahmedabad –
380051, Gujarat |
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.03.2004 |
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|
|
|
Com. Reg. No.: |
04-043790 |
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Capital
Investment / Paid-up Capital : |
Rs.26.043
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ2004PTC043790 |
|
|
|
|
IEC No.: |
2494003415 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
RKTE00192D |
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|
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PAN No.: [Permanent Account No.] |
AABCE2957Q |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing of plastic and FRP moulded pipes and other moulded and fabricated items. |
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|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management of the company has not filed its latest financial i.e. 2014
with the government department. As per ROC the date of balance sheet (i.e., financial filed) is shown as
31.03.2013 but the documents related to the financial for the year 2013 are
not available from any sources. As per available financial of 2012, borrowings recorded by the company
are huge and increasing. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 DENIED BY
|
Name : |
Ms. Kuwar |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9099072505 |
|
Date : |
18.12.2014 |
LOCATIONS
|
Registered Office / Branch 1 : |
801, Iscon Elegance, S. G. Highway, Near Jain Derasar, Ahmedabad –
380051, Gujarat, India |
|
Tel. No.: |
91-79-66145922 |
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Fax No.: |
91-79-66145922 |
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E-Mail : |
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|
Website : |
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Factory 1 (GRP Piping Division) : |
Plot No 2646, GIDC Lodhica Indl Estate, Kalawad Road, Metoda, Rajkot
360021, India |
|
Tel. No.: |
91-2827-287059 / 60 / 61 |
|
Fax No.: |
91-2827-287063 |
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|
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|
Factory 2 (Chemical Plants and Equipment
Division) : |
Plot No. 1934/5, Road No. 07-B, Off Almighty Gate Main Road, GIDC
Lodhika Industrial Estate, Kalawad Road, Metoda, Rajkot – 360 021, Gujarat,
India |
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|
|
|
Factory 3 (Building Products Division) : |
Atika Rubber Mills Compound,
Atika Industrial Area, Road No.1, |
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Factory 4 (Pultrusion Division) : |
Plot No.2221, |
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Factory 5 (CFW Division) : |
Near Lafarg Concret Plate, Beside Lizzat Papad, Haripar Pal, Rajkot,
Gujarat, India |
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|
|
Branch Office 2 : |
604, |
DIRECTORS
AS ON 25.09.2013
|
Name : |
Mr. Siddharth Sumankumar Shah |
|
Designation : |
Whole Time Director |
|
Address : |
“Maan”, Opposite Nirmala Convent Road, 5, Saurashtra Kala Kendra
Society, Rajkot – 360005, Gujarat, India |
|
Date of Birth/Age : |
04.12.1962 |
|
Qualification : |
B.E. (Mechanical) |
|
Experience : |
26 Years |
|
Date of Appointment : |
01.05.2010 |
|
DIN No.: |
00034906 |
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|
|
|
Name : |
Mr. Jayraj Sumankumar Shah |
|
Designation : |
Managing Director |
|
Address : |
“Maan”, Opposite Nirmala Convent Road, 5, Saurashtra Kala Kendra
Society, Rajkot – 360005, Gujarat, India |
|
Date of Birth/Age : |
24.09.1966 |
|
Qualification : |
B. Sc. (Physics) |
|
Experience : |
25 Years |
|
Date of Appointment : |
01.05.2010 |
|
DIN No.: |
00034964 |
MAJOR SHAREHOLDERS
AS ON 25.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Siddharth Sumanbhai Shah |
|
134973 |
|
Jayraj Sumanbhai Shah |
|
135831 |
|
Sumanbhai Naginbhai Shah |
|
12607 |
|
Kolkilaben Sumanbhai Shah |
|
13175 |
|
Sonal Siddharth Shah |
|
13875 |
|
Priti Jayraj Shah |
|
12950 |
|
Sumanbhai Naginbhai Shah - Karta of Suman N. Shah (HUF) |
|
5642 |
|
Siddharth Sumanbhai Shah – Karta of Siddharth S. Shah (HUF) |
|
1422 |
|
Jayraj Sumanbhai Shah – Karta of Jayraj S. Shah (HUF) |
|
2255 |
|
Raj Siddharth Shah |
|
3850 |
|
Devvrat Jayraj Shah |
|
3850 |
|
|
|
|
|
Total |
|
340430 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of plastic and FRP moulded pipes and other moulded and fabricated items. |
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Products : |
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Brand Names : |
ATIKA |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Production Qty.
|
|
GRP Pipes and Fittings |
Rmt |
1440000 |
194552 |
|
Others |
-- |
N.A. |
505958 |
|
Total |
|
|
700510 |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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Financial Institution : |
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Auditors : |
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|
Name : |
Vijay Doshi and Company Chartered Accountants |
|
Address : |
211, Sterling Apartments, |
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Tel. No.: |
91-281-2224517 |
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Fax No.: |
91-281-2222813 |
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PAN
No.: |
ABBPD3609G |
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|
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Membership : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 25.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
Rs.100/- each |
Rs.35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340430 |
Equity Shares |
Rs.100/- each |
Rs.34.043 Millions |
|
|
|
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|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
260430 |
Equity Shares |
Rs.100/- each |
Rs.26.043
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
26.043 |
23.186 |
|
(b) Reserves & Surplus |
|
111.679 |
88.052 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
137.722 |
111.238 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
265.111 |
78.878 |
|
(b) Deferred tax liabilities (Net) |
|
5.536 |
1.854 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
270.647 |
80.732 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
193.862 |
139.861 |
|
(b) Trade
payables |
|
259.802 |
166.279 |
|
(c) Other
current liabilities |
|
49.498 |
25.497 |
|
(d) Short-term
provisions |
|
1.582 |
3.475 |
|
Total Current
Liabilities (4) |
|
504.744 |
335.112 |
|
|
|
|
|
|
TOTAL |
|
913.113 |
527.082 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
199.907 |
127.998 |
|
(ii)
Intangible Assets |
|
0.305 |
0.509 |
|
(iii)
Capital work-in-progress |
|
0.633 |
30.972 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
4.895 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
12.618 |
10.543 |
|
(e) Other
Non-current assets |
|
0.652 |
0.876 |
|
Total Non-Current
Assets |
|
219.010 |
170.898 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
18.296 |
16.618 |
|
(b)
Inventories |
|
368.165 |
115.982 |
|
(c) Trade
receivables |
|
282.759 |
212.135 |
|
(d) Cash
and cash equivalents |
|
5.717 |
5.152 |
|
(e)
Short-term loans and advances |
|
19.166 |
6.297 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
694.103 |
356.184 |
|
|
|
|
|
|
TOTAL |
|
913.113 |
527.082 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
23.186 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
73.296 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
96.482 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
127.325 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
127.325 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.905 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
225.712 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
100.058 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
55.208 |
|
|
Sundry Debtors |
|
|
194.936 |
|
|
Cash & Bank Balances |
|
|
24.580 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
34.777 |
|
Total
Current Assets |
|
|
309.501 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
160.509 |
|
|
Other Current Liabilities |
|
|
4.689 |
|
|
Provisions |
|
|
18.729 |
|
Total
Current Liabilities |
|
|
183.927 |
|
|
Net Current Assets |
|
|
125.574 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.080 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
225.712 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
OPERATIONAL INCOME |
650.431 |
555.498 |
557.421 |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
20.162 |
15.064 |
37.371 |
|
|
|
|
|
|
|
|
TAX |
NIL |
0.395 |
15.103 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
16.480 |
14.669 |
22.268 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY ON F.O.B. |
22.959 |
32.232 |
1.392 |
|
|
|
|
|
|
|
|
IMPORT VALUE |
29.754 |
16.592 |
11.218 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
48.41 |
63.27 |
96.04 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin PAT/Sales |
(%) |
2.53 |
2.64 |
3.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.22 |
3.04 |
9.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.14 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.33 |
1.97 |
3.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.06 |
1.68 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
23.186 |
26.043 |
|
Reserves & Surplus |
|
88.052 |
111.679 |
|
Net
worth |
|
111.238 |
137.722 |
|
|
|
|
|
|
long-term borrowings |
|
78.878 |
265.111 |
|
Short term borrowings |
|
139.861 |
193.862 |
|
Total
borrowings |
|
218.739 |
458.973 |
|
Debt/Equity
ratio |
|
1.966 |
3.333 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
557.421 |
555.498 |
650.431 |
|
|
|
(0.345) |
17.090 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
557.421 |
555.498 |
650.431 |
|
Profit |
22.268 |
14.669 |
16.480 |
|
|
3.99% |
2.64% |
2.53% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
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 |
No |
|
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 |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and
advances from related parties |
130.279 |
3.399 |
|
|
|
|
|
Total |
130.279 |
3.399 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10314847 |
20/09/2011 |
5,000,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
B24179533 |
|
2 |
10266885 |
25/03/2011 * |
70,000,000.00 |
AXIS BANK LIMITED |
"TITAN", OPP. KKV HALL, KALAWAD ROAD, RAJKOT, GUJARAT - 360001, INDIA |
B10079085 |
|
3 |
10261128 |
17/01/2011 |
32,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
1ST FLOOR, NIRMAL, 7, RAMKRISHNANAGAR CORNER, OPP. COMMISSIONER BUNGALOW, OFF. YAGNIK ROAD, RAJKOT, GUJARAT - 360001, INDIA |
B03699444 |
|
4 |
10223098 |
04/05/2010 |
550,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A87314308 |
|
5 |
10223106 |
04/05/2010 |
550,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A87314811 |
|
6 |
10177377 |
26/08/2009 |
1,310,601.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A70483367 |
|
7 |
10167179 |
25/06/2009 |
1,438,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A65959025 |
|
8 |
10159953 |
01/05/2009 |
750,000.00 |
THE KARUR VYSYA BANK LIMITED |
R. G. C. COMPLEX,, NEAR TRIKO BAUG, RAJKOT, GUJARAT - 360001, INDIA |
A63186126 |
|
9 |
10160436 |
23/03/2009 |
1,300,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A61392064 |
|
10 |
10154899 |
20/03/2009 |
300,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A61391645 |
|
11 |
10154902 |
20/03/2009 |
400,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A61391918 |
|
12 |
10030536 |
28/12/2006 |
12,800,000.00 |
TECHNOLOGY
INFORMATION FORECASTING AND ASSESSMENT |
A WING, VISHWAKARMA BHAVAFN,, SHAHEED JIT SINGH MARG,, NEW DELHI, DELHI - 110016, INDIA |
A08507006 |
|
13 |
80006637 |
30/06/2014 * |
431,500,000.00 |
KARUR VYSYA BANK LIMITED |
R.G.C. COMPLEX, TRIKAUN BAUG, RAJKOT, GUJARAT - 360005, INDIA |
C14315618 |
*Date of modification Charges
FIXED ASSETS:
·
Plots of Land
·
Building Construction
·
Machineries
·
Lab Equipments
·
Furniture
·
Electric Fitting and Installation
·
Computers and Others
·
Air Conditioner
·
Telephone Instrument
·
Motor Car and Others
·
Pattern and Fixtures
·
Factory and Office Miscellaneous Assets
·
SAP System and Software A/c
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.63.32 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
28 |
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.