MIRA INFORM REPORT
|
Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SPECTRUM AUXI-CHEM PRIVATE LIMITED (w.e.f. 02.06.2011) |
|
|
|
|
Formerly Known
As : |
MULTIPLE TEXFAB PRIVATE LIMITED (w.e.f. 31.03.2009) VIKRAM TEXFAB PRIVATE LIMITED |
|
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|
Registered
Office : |
Block No 307/1, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
21.01.1994 |
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|
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Com. Reg. No.: |
04-021105 |
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Capital
Investment / Paid-up Capital : |
Rs. 102.858 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24290GJ1994PTC021105 |
|
|
|
|
IEC No.: |
Not Divulged |
|
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|
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TAN No.: [Tax Deduction & Collection
Account No.] |
SRTV00058C |
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PAN No.: [Permanent Account No.] |
AAACV8088L |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Textile Auxiliary product namely Tamarind
based Tamarind Kernal Powder (TKP) which are mainly use in textile printing
industries. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 310000 |
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|
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. Rating reflects moderate financial risk profile due to low reserves. However, trade relation are fair. Business is active. Payment terms
are 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
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limit – Cash Credit: BB- |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
July 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based sublimit of cash credit – BP/BD/FBP/FBD: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
July 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Nilesh Kanodia |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9924100348 |
|
Date : |
15.12.2014 |
LOCATIONS
|
Registered Office : |
Block No 307/1, National Highway No 8, Baleshwar, Surat – 395002,
Gujarat, India |
|
Tel. No. : |
91-2622-264259 |
|
Mob. |
91-9824106737/9824106781 (Mr. Yogesh Gupta) |
|
Fax No. : |
Not Available |
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E-Mail : |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Mahendra Kumar Chhogmal Chaudhary |
|
Designation : |
Director |
|
Address : |
6/B, Rudrraj Apartment, Athwalines, Surat - 395007, Gujarat, India |
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Date of Birth/Age : |
09.06.1958 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No. : |
00193199 |
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|
|
|
Name : |
Mr. Yogesh Ramavtar Gupta |
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Designation : |
Director |
|
Address : |
602, Soitaire Brijwasi Estate, Opp. Umrigar School, Parle Point, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
10.03.1969 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No. : |
00193245 |
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|
|
|
Name : |
Mr. Avneep Vidyakar Bansal |
|
Designation : |
Director |
|
Address : |
7th Floor, Flat No 701(Old), A-1(New), Solitaire - Building Tower-4, Brijwasi Estate, Parle Point, Surat - 395007 Gujarat, India |
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Date of Birth/Age : |
12.05.1972 |
|
Date of Appointment : |
01.04.2011 |
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DIN No. : |
00193320 |
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|
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Name : |
Mr. Pramod Kumar Chaudhary |
|
Designation : |
Director |
|
Address : |
7-B, Rudraraj Appartment, Opposite Arihant Complex, Near Gateway Hotel, Parle Point, Surat - 395007, Gujarat, India |
|
Date of Birth/Age : |
06.10.1963 |
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Date of Appointment : |
25.11.1996 |
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DIN No. : |
00530612 |
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|
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|
Name : |
Mr. Balbirsingh Nathuram Pilania |
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Designation : |
Director |
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Address : |
6, Sanket Society, Vyas Falia, Village : Palsana, Surat - 394317, Gujarat, India |
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Date of Birth/Age : |
05.03.1965 |
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Date of Appointment : |
05.11.2011 |
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DIN No. : |
05121616 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 08.10.2014
LIST OF ALLOTTEES:
|
Names of Shareholders |
|
No. of Shares |
|
Gazel Venture Private Limited, India |
|
454000 |
|
Avneep Vidyakar Bansal (Business) |
|
634159 |
|
Yogesh Ramavtar Gupta (Business) |
|
292795 |
|
|
|
|
|
Total |
|
1380954 |
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Shiv Kumar Chhogmal Chaudhary |
|
100 |
|
Yogesh Ramavtar Gupta |
|
1436818 |
|
Devika Yogesh Gupta |
|
403000 |
|
Utkarsh Yogesh Gupta (Minor) |
|
600000 |
|
Riddhesh Yogesh Gupta (Minor) |
|
600000 |
|
Premlata R. Gupta |
|
55000 |
|
Ramvatar Gupta |
|
22500 |
|
Avneep Vidyakar Bansal |
|
1270000 |
|
Prachetan Avneep Bansal (Minor) |
|
400000 |
|
Saumya Avneep Bansal (Minor) |
|
400000 |
|
Arushi Amitesh Bansal (Minor) |
|
300000 |
|
Varchasav Amitesh Bansal (Minor) |
|
300000 |
As on: 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
47.14 |
|
Directors or relatives of Directors |
52.86 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Textile Auxiliary product namely Tamarind
based Tamarind Kernal Powder (TKP) which are mainly use in textile printing industries. |
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Products : |
- |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Applicable |
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Imports : |
Not Applicable |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
Bank of Baroda, Pandesara Ind. Estate, Nr. Fire Station,
Pandesara, Surat - 394221, Gujarat, India |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
DSI and Company Chartered Accountants |
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Address : |
Mf/14-26, Nariman Point Shopping Centre,Near Raghuvir Bunglows, City Light Road, Surat, Gujarat, India |
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PAN : |
AAFFD4002N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
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Sister Concern: |
Not Divulged |
CAPITAL STRUCTURE
After on:
30.09.2014
Authorized Capital: Rs. 150.000 Millions (15000000*10)
Issued, Subscribed & Paid-up Capital: Rs. 123.486
Millions (12348572*10)
As on: 31.03.2014
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
10285800 |
Equity Shares |
Rs.10/- each |
Rs. 102.858
Millions |
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FINANCIAL DATA
[All figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
102.858 |
76.203 |
43.403 |
|
(b) Reserves & Surplus |
7.386 |
5.401 |
(0.988) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
45.900 |
11.000 |
|
Total
Shareholders’ Funds (1) + (2) |
110.244 |
127.504 |
53.415 |
|
1 |
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
45.279 |
37.760 |
49.918 |
|
(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) |
45.279 |
37.760 |
49.918 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
26.271 |
86.432 |
6.407 |
|
(b) Trade
payables |
0.000 |
0.360 |
0.377 |
|
(c) Other
current liabilities |
17.257 |
15.177 |
15.469 |
|
(d) Short-term
provisions |
0.040 |
0.043 |
0.461 |
|
Total Current
Liabilities (4) |
43.568 |
102.012 |
22.714 |
|
|
|
|
|
|
TOTAL |
199.091 |
267.276 |
126.047 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
128.123 |
136.472 |
83.345 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
11.496 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.706 |
0.646 |
2.257 |
|
Total Non-Current
Assets |
128.829 |
137.118 |
97.098 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4.216 |
18.331 |
11.169 |
|
(c) Trade
receivables |
52.491 |
98.992 |
14.438 |
|
(d) Cash
and cash equivalents |
0.850 |
0.284 |
0.382 |
|
(e)
Short-term loans and advances |
0.010 |
0.008 |
0.015 |
|
(f) Other
current assets |
12.695 |
12.543 |
2.945 |
|
Total
Current Assets |
70.262 |
130.158 |
28.949 |
|
|
|
|
|
|
TOTAL |
199.091 |
267.276 |
126.047 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
292.952 |
20.494 |
|
|
|
Other Income |
|
0.217 |
0.046 |
|
|
|
TOTAL |
NA |
293.169 |
20.540 |
|
|
|
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|
|
|
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|
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|
|
|
|
TOTAL EXPENSES |
NA |
286.780 |
21.487 |
|
|
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|
|
|
|
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|
|
PROFIT/
(LOSS) BEFORE TAX |
1.985 |
6.389 |
(0.947) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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|
|
PROFIT/
(LOSS) AFTER TAX |
1.985 |
6.389 |
(0.947) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.401 |
(0.988) |
(0.041) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.386 |
5.401 |
(0.988) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.19 |
0.84 |
(0.22) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
2.18 |
(4.62) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.98 |
2.39 |
(0.83) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.05 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.65 |
0.97 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61 |
1.28 |
1.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
43.403 |
76.203 |
102.858 |
|
Reserves & Surplus |
(0.988) |
5.401 |
7.386 |
|
Share Application money pending allotment |
11.000 |
45.900 |
0.000 |
|
Net worth |
53.415 |
127.504 |
110.244 |
|
|
|
|
|
|
long-term borrowings |
49.918 |
37.760 |
45.279 |
|
Short term borrowings |
6.407 |
86.432 |
26.271 |
|
Total borrowings |
56.325 |
124.192 |
71.550 |
|
Debt/Equity ratio |
1.054 |
0.974 |
0.649 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two 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 |
Yes |
Note: Registered Office of the company has been shifted from “Z – 1162 SYRAT TEXTILE MARKETING ROAD, SURAT, GUJARAT, INDIA” to the present address w.e.f. 01.04.2011
CORPORATE
INFORMATION
Subject was originally incorporated as Vikram Texfab Private Limited in the year of 1994. Later on, from 31.03.2009, the name of Company has been changed to Multiple Texfab Private Limited from Vikram Texfab Private Limited. The name of Company has been further changed from Multiple Texfab Private Limited to Spectrum Auxi-Chem Private Limited on 02.06.2011. The Company is mainly engaged in manufacturing of Textile Auxiliary product namely Tamarind based Tamarind Kernal Powder (TKP) which are mainly use in textile printing industries.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10357563 |
07/05/2013 * |
263,000,000.00 |
BANK OF BARODA |
Pandesara Ind. Estate, Nr. Fire Station,, Pandesara, Surat, Gujarat - 394221, India |
B74626094 |
|
2 |
10316706 |
03/05/2013 * |
263,000,000.00 |
BANK OF BARODA |
Pandesara Ind. Estate, Nr. Fire Station,, Pandesara, Surat, Gujarat - 394221, India |
B74625385 |
|
3 |
10316709 |
07/05/2013 * |
263,000,000.00 |
BANK OF BARODA |
Pandesara Ind. Estate, Nr. Fire Station,, Pandesara, Surat, Gujarat - 394221, India |
B74625724 |
* Date of charge modification
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Computer Equipments
· Office Equipment
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.63.41 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.79.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
SMT |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
30 |
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.