MIRA INFORM REPORT
|
Report Date : |
20.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOVEREIGN TECH ENGINEERING SERVICES PRIVATE LIMITED |
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Registered
Office : |
14, Mahinder Chambers, Waman Tukaram Patil Marg, Chembur, Mumbai
-400071, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.04.1986 |
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Com. Reg. No.: |
11-039496 |
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Capital
Investment / Paid-up Capital : |
Rs. 9.606
Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U24230MH1986PTC039496 |
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|
IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS30231F |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Coolant Filtration Systems for Automobile Industry. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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 loss incurred
by the company in the year 2013-14. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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.
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 PARTED BY
|
Name : |
Ms. Sindhu Shashi |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9930316418 |
|
Date : |
19.12.2014 |
LOCATIONS
|
Registered Office : |
14, Mahinder Chambers, Waman Tukaram Patil Marg, Chembur, Mumbai
-400071, |
|
Tel. No.: |
91-22-67973259/ 260 |
|
Mobile No.: |
91-9930316410 (Ms. Sindhu) |
|
Fax No.: |
91-22-67987499 |
|
E-Mail : |
ashishshah@sovereigntech.in |
|
Website : |
|
|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
A-515, TTC Industrial Area, MIDC, Mahape, Navi Mumbai, |
|
Area : |
9000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
A-515/1, TTC Industrial Area, MIDC Mahape, Navi Mumbai, Maharashtra,
India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Sarvanand Madhukar Bhujle |
|
Designation : |
Managing director |
|
Address : |
3rd Floor, 14, Avanti Co-Operative Housing Society, Deonar
Baug, Off S. T. Road, Near Datta Guru Society, Deonar, Mumbai - 400088,
Maharashtra, India |
|
Date of Birth/Age : |
07.03.1955 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
00302577 |
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|
|
|
Name : |
Mr. Aditya Sarvanand Bhujle |
|
Designation : |
Director |
|
Address : |
14, Avanti Co-Operative Housing Society Limited, Deonar Baug, Deonar, Mumbai
– 400088, Maharashtra, India |
|
Date of Birth/Age : |
16.03.1988 |
|
Date of Appointment : |
17.03.2006 |
|
DIN No.: |
00302636 |
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|
|
|
Name : |
Mr. Anish Sarvanand Bhujle |
|
Designation : |
Director |
|
Address : |
14, Avanti Co-Operative Housing Society Limited, Deonar Baug, Mumbai –
400088, Maharashtra India |
|
Date of Birth/Age : |
13.10.1994 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06450263 |
KEY EXECUTIVES
|
Name : |
Ms. Sindhu Shashi |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Sarvanand Madhukar Bhujle |
|
768290 |
|
Aditya Sarvanand Bhujhe |
|
95855 |
|
Anish Sarvanand Bhujle |
|
95855 |
|
Total |
|
960000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Vanita Sharma |
|
1 |
|
Sarvanand Madhukar Bhujle |
|
4 |
|
Sindhu Sasi |
|
1 |
|
Total |
|
6 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Coolant Filtration Systems for Automobile Industry. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finish Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Document Against |
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Purchasing : |
Document Against |
PRODUCTION STATUS (As on 31.03.2014)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Filter Media |
Sq. Mtr. |
NA |
NA |
276092 |
|
KBF |
No. |
NA |
NA |
123 |
|
Chip Blaster and Sovereign Kambo |
No. |
NA |
NA |
8 |
|
Chip Conveyors |
No. |
NA |
NA |
53 |
|
Lubricants |
Kg |
NA |
NA |
8717 |
Note:
Installed Capacity: The installed capacities
are not precisely ascertainable, given the nature of operation, changes in
product mix and utilisation of manufacturing facilities and hence, have not
been disclosed.
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
Gokhale and Sathe Chartered Accountants |
|
Address : |
302/303, Udyog Mandir No. 17-C Bhagoji Keer Marg, Mahim, Mumbai –
400016, Maharashtra, India |
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Tel. No.: |
91-22-43484242 |
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Fax No.: |
91-22-43484241/ 51 |
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E-Mail : |
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PAN No.: |
AAAFG4990K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
995000 |
Equity Shares |
Rs.10/- each |
Rs. 9.950 Millions |
|
50 |
Preference Shares |
Rs.1000/- each |
Rs. 0.050 Million |
|
|
Total |
|
Rs. 10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
960000 |
Equity Shares |
Rs.10/- each |
Rs. 9.600 Millions |
|
6 |
Preference Shares |
Rs.1000/- each |
Rs. 0.006 Million |
|
|
Total |
|
Rs. 9.606
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
9.606 |
9.606 |
9.606 |
|
(b) Reserves & Surplus |
61.914 |
64.108 |
61.120 |
|
(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) |
71.520 |
73.714 |
70.726 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
46.294 |
41.652 |
34.951 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.429 |
1.427 |
|
(d) long-term
provisions |
1.059 |
1.271 |
0.812 |
|
Total Non-current
Liabilities (3) |
47.353 |
43.352 |
37.190 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
32.358 |
33.706 |
35.689 |
|
(b) Trade
payables |
20.174 |
20.676 |
22.050 |
|
(c) Other
current liabilities |
16.042 |
23.703 |
21.186 |
|
(d) Short-term
provisions |
0.001 |
0.275 |
4.155 |
|
Total Current
Liabilities (4) |
68.575 |
78.360 |
83.080 |
|
|
|
|
|
|
TOTAL |
187.448 |
195.426 |
190.996 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
95.460 |
98.413 |
78.188 |
|
(ii)
Intangible Assets |
2.171 |
3.024 |
3.991 |
|
(iii)
Capital work-in-progress |
15.822 |
17.154 |
21.343 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
2.367 |
1.606 |
2.668 |
|
(d) Long-term Loan and Advances |
2.949 |
2.988 |
2.017 |
|
(e) Other
Non-current assets |
0.099 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
118.868 |
123.185 |
108.207 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
31.287 |
36.920 |
29.192 |
|
(c) Trade
receivables |
33.084 |
31.123 |
43.625 |
|
(d) Cash
and cash equivalents |
0.684 |
0.647 |
6.580 |
|
(e)
Short-term loans and advances |
3.525 |
3.551 |
3.392 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
68.580 |
72.241 |
82.789 |
|
|
|
|
|
|
TOTAL |
187.448 |
195.426 |
190.996 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
112.000 |
125.000 |
153.320 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
18.020 |
21.950 |
33.890 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST |
11.910 |
9.640 |
9.470 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.110 |
12.310 |
24.420 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
9.090 |
7.080 |
6.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(2.980) |
5.230 |
17.680 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.780) |
2.250 |
7.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(2.200) |
2.980 |
10.110 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
42.800 |
39.820 |
29.710 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
40.600 |
42.800 |
39.820 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
4.715 |
4.233 |
4.262 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
18.262 |
29.615 |
30.539 |
|
|
TOTAL IMPORTS |
18.262 |
29.615 |
30.539 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.29) |
3.10 |
10.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(1.96) |
2.38 |
6.59 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
16.07 |
17.55 |
22.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.76) |
2.96 |
10.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
0.07 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.10 |
1.02 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
0.92 |
1.00 |
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 |
9.606 |
9.606 |
9.606 |
|
Reserves & Surplus |
61.120 |
64.108 |
61.914 |
|
Net
worth |
70.726 |
73.714 |
71.520 |
|
|
|
|
|
|
long-term borrowings |
34.951 |
41.652 |
46.294 |
|
Short term borrowings |
35.689 |
33.706 |
32.358 |
|
Total
borrowings |
70.640 |
75.358 |
78.652 |
|
Debt/Equity
ratio |
0.999 |
1.022 |
1.100 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
153.320 |
125.000 |
112.000 |
|
|
|
(18.471) |
(10.400) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
153.320 |
125.000 |
112.000 |
|
Profit/ (Loss) |
10.100 |
2.980 |
(2.200) |
|
|
6.59% |
2.38% |
(1.96)% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current Maturity
of Long Term Debt |
|
|
|
|
Term Loan Vashi Premise |
0.000 |
7.307 |
8.550 |
|
Term Loan Factory – Mahape |
5.300 |
3.550 |
1.950 |
|
Term Loan from Chola Mandalam |
0.000 |
1.045 |
0.907 |
|
Term Loan from Chola Mandalam – New Loan |
0.517 |
0.000 |
0.000 |
|
Vehicles Loan from Bank of India (Alto) |
0.000 |
0.053 |
0.066 |
|
Vehicles Loan from HDFC (Swift) |
0.066 |
0.000 |
0.136 |
|
Vehicles Loan from HDFC (Swift) |
0.144 |
0.000 |
0.000 |
|
Total |
6.027 |
11.955 |
11.609 |
|
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 |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Vimal M Bhujle |
0.000 |
5.000 |
|
Sarvanand M Bhujle |
9.062 |
8.697 |
|
Aditya S Bhujhe |
2.375 |
2.255 |
|
Anish S. Bhujhe |
3.380 |
2.155 |
|
Total |
14.817 |
18.107 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
ADDRESS |
Service Request
Number (SRN) |
|
1 |
10444286 |
29/07/2013 |
37,000,000.00 |
Bank Of India |
61-A, GOKAHLE
ROAD (NORTH), DADAR (WEST), MUMBAI, MAHARASHTRA - 400028, INDIA |
B82697426 |
|
2 |
10444632 |
29/07/2013 |
37,000,000.00 |
Bank Of India |
61-A, GOKAHLE ROAD (NORTH), DADAR (WEST), MUMBAI, MAHARASHTRA - 400028, INDIA |
B82915414 |
|
3 |
10425198 |
09/04/2013 |
617,000.00 |
Bank of India |
61-A, GOKAHLE ROAD (NORTH), DADAR (WEST), MUMBAI, MAHARASHTRA - 400028, INDIA |
B74963240 |
|
4 |
10309478 |
17/08/2011 |
31,400,000.00 |
Bank of India |
61-A, GOKAHLE ROAD (NORTH), DADAR (WEST), MUMBAI, MAHARASHTRA - 400028, INDIA |
B22246771 |
|
5 |
10241221 |
04/09/2010 |
31,400,000.00 |
BANK OF INDIA |
61-A, GOKAHLE ROAD
(NORTH), DADAR (WEST), MUMBAI, MAHARASHTRA - 400028, INDIA |
A95109443 |
|
6 |
10137764 |
10/12/2008 |
300,000.00 |
BANK OF INDIA |
DADAR WEST
BRANCH, 61 - A, GOKHALE ROAD, DADAR WE |
A54333992 |
|
7 |
10036052 |
23/12/2006 |
2,500,000.00 |
BANK OF INDIA |
DADAR (W)
BRANCH, 61-A, GOKHALE ROAD (NORTH), DADAR (W), MUMBAI, MAHARASHTRA - 400028,
INDIA |
A10390789 |
|
8 |
10036048 |
23/12/2006 |
4,800,000.00 |
BANK OF INDIA |
DADAR (W) BRANCH,
61 A,GOKHALE ROAD (NORTH), DADAR (W), MUMBAI, MAHARASHTRA - 400028, INDIA |
A10390540 |
|
9 |
10016107 |
04/09/2010 * |
90,667,000.00 |
Bank of India |
61-A, GOKHALE
ROAD (NORTH), DADAR (WEST), MUMBAI, |
A95109971 |
|
10 |
90227060 |
21/11/2008 * |
58,480,000.00 |
BANK OF INDIA |
61 - A GOKHALE
ROAD (NORTH), DADAR WEST, MUMBAI, |
A54332507 |
|
11 |
90240870 |
14/12/2011 * |
25,000,000.00 |
BANK OF INDIA |
61- A, GOKHALE ROAD
(NORTH), DADAR WEST, DADAR, MUMBAI, MAHARASHTRA - 400028, INDIA |
B31769136 |
|
12 |
90239205 |
17/05/1989 * |
150,000.00 |
BANK OF INDIA |
61; -A; GOKHALE
ROAD, DADAR, BOMBAY, MAHARASHTRA |
- |
* Date of charge modification
FIXED ASSETS:
· Leasehold Land
· Factory Building
· Guest House
· Machinery
· Electrical Fitting
· Tools and Equipments
· Office Equipments
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.63.06 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KLS |
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 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.