MIRA INFORM REPORT

 

 

Report Date :

27.12.2014

 

IDENTIFICATION DETAILS

 

Name :

ACCORD INDUSTRIES LIMITED (w.e.f. 07.06.2012)

 

 

Formerly Known As :

ACCORD INDUSTRIES PRIVATE LIMITED(w.e.f. 29.03.2012)

 

ACCORD COMMUNICATION PRIVATE LIMITED

 

 

Registered Office :

Alindra Plot No. 15, Alindra GIDC, Manjusar, Savali, Vadodara – 391775, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.01.2003

 

 

Com. Reg. No.:

04-041867

 

 

Capital Investment / Paid-up Capital :

Rs.41.615 Millions

 

 

CIN No.:

[Company Identification No.]

U30007GJ2003PLC041867

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAECA2117R

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The company is engaged in manufacturing of Tower, supply of steel structure, job charges, galvanizing, manpower supply, civil erection, installation and commissioning.

 

 

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

 

Maximum Credit Limit :

USD 742000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having satisfactory track.

 

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

 

As per available financial of 2013, general financial position of the company seems to be normal and acceptable for business dealing.  

 

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.

 

 

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

CRISIL

Rating

Long term rating = BB+ (Suspended)

Rating Explanation

Moderate risk of default.

Date

16.12.2014

 

REASON FOR SUSPENDED :

Non-cooperation by the company to undertake rating.

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAILTERS’ 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. Manish

Designation :

Marketing Manager

Contact No.:

91-9687668098

Date :

26.12.2014

 

 

LOCATIONS

 

Registered Office / Factory  :

Alindra Plot No. 15, Alindra GIDC, Manjusar, Savali, Vadodara – 391775, Gujarat, India

Tel. No.:

91-2667-290766 

Mobile No.:

91-9687668098 (Mr. Manish)

Fax No.:

91-2667-290767 

E-Mail :

info@accordcommunication.com

Website :

http://www.accordindustries.in

 

 

DIRECTORS

 

AS ON 30.09.2013

 

Name :

Betullakhan Ashdullakhan Pathan

Designation :

Director

Address :

19, Shuklanagar, Eme Circle Vadodara – 390008, Gujarat, India 

Date of Birth/Age :

26.01.1971

Date of Appointment :

21.01.2003

Date of cessation:

06.08.2014

DIN No.:

01914482

 

 

Name :

Mohdyusufkhan Mohd Husain Babi

Designation :

Director

Date of Appointment :

25.08.2005

Date of cessation:

06.08.2014

DIN No.:

01914506

 

 

Name :

Asdullakhan Alafkhan Pathan

Designation :

Director

Address :

Shuklanagar, Eme Circle Vadodara – 390008, Gujarat, India 

Date of Birth/Age :

01.05.1940

Date of Appointment :

21.01.2003

PAN No.:

06.08.2014

DIN No.:

01952438

 

 

Name :

Roli Betulla Khan

Designation :

Director

Address :

19, Shuklanagar, Eme Circle Vadodara – 390008, Gujarat, India 

Date of Birth/Age :

24.07.1978

Date of Appointment :

31.03.2009

Date of cessation:

26.12.2013

DIN No.:

02243511

 

 

Name :

Nitinkumar Manchhabhai Patel

Designation :

Non-executive director

Address :

9, Udaynagar Society, Prasant Road, Mehsana – 384001, Gujarat, India 

Date of Birth/Age :

19.09.1966

Date of Appointment :

01.04.2010

Date of cessation:

31.07.2011

DIN No.:

03021212

 

Name :

Chandrashekhar Balkrishna Panchal

Designation :

Director

 

Name :

Sunil Mishra

Designation :

Director

 

Name :

Rajesh Kanjibhai Tanna

Designation :

Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Manish

Designation :

Marketing Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

Names of Shareholders

 

 

No. of Shares

Betullakhan Ashdullakhan

 

2999900

Asdullakhan Alafkhan Pathan

 

375000

Mohdyusufkhan Mohd Husain Babi

 

125000

Roli Betullakhan Pathan

 

250000

Polo Wealth Creators Private Limited, India

 

99500

F.S Infrastructure Private Limited, India

 

312000

Bhuvnesh Singhal

 

100

 

 

 

Total

 

4161500

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2013

 

Category

Percentage

Bodies corporate

10.00

Directors or relatives of Directors

90.00

 

 

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The company is engaged in manufacturing of Tower, supply of steel structure, job charges, galvanizing, manpower supply, civil erection, installation and commissioning.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

GENERAL INFORMATION

 

 

Suppliers :

Not Divulged

 

 

Customers :

Not Divulged

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :
  • Indian Overseas Bank, Alkapuri Branch, Ground Floor, Darpan Apartments, Vadodara - 390007, Gujarat, India

 

  • ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

 

  • Indian Overseas Bank, Ground Floor, Darpan Building, R C Dutt Road, Vadodara - 390007, Gujarat, India

 

 

Facilities :

Secured Loan

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

Long-term Borrowings

 

 

Rupee term loans from banks

47.595

13.815

Short-term borrowings

 

 

Working capital loans from banks

608.337

440.908

Total

655.932

454.723

 

 

 

 

Banking Relations :

 

 

 

Financial Institution :

Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India

 

 

Auditors :

 

Name :

Sanjay C. Shah and Company

Chartered Accountants

Address :

701/A, Arihant Super Market, Near Lalbaug Crossing, Manjalpur, Vadodara-11, Gujarat, India

PAN No. :

AFOPS7054M

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5,000,000

Equity Shares

Rs.10/- each

Rs.50.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4,161,500

Equity Shares

Rs.10/- each

Rs.41.615 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

41.615

41.615

41.615

(b) Reserves & Surplus

216.991

188.426

164.598

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.765

0.765

0.765

Total Shareholders’ Funds (1) + (2)

259.371

230.806

206.978

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

47.595

15.492

15.025

(b) Deferred tax liabilities (Net)

4.089

3.496

1.908

(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)

51.684

18.988

16.933

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

608.337

440.908

386.008

(b) Trade payables

108.647

238.483

85.366

(c) Other current liabilities

22.265

20.244

23.633

(d) Short-term provisions

19.094

19.463

12.440

Total Current Liabilities (4)

758.343

719.098

507.447

 

 

 

 

TOTAL

1069.398

968.892

731.358

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

164.057

128.096

94.406

(ii) Intangible Assets

17.871

20.934

24.482

(iii) Capital work-in-progress

0.000

0.000

0.000

(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)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.844

1.154

1.352

Total Non-Current Assets

182.772

150.184

120.240

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

362.586

388.373

265.480

(c) Trade receivables

326.494

331.685

262.828

(d) Cash and cash equivalents

10.845

2.654

1.498

(e) Short-term loans and advances

44.613

20.848

13.323

(f) Other current assets

142.088

75.148

67.989

Total Current Assets

886.626

818.708

611.118

 

 

 

 

TOTAL

1069.398

968.892

731.358

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Income

1346.017

1149.519

1066.451

 

Other Income

5.890

4.150

1.944

 

TOTAL

1351.907

1153.669

1068.395

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1010.378

709.358

882.818

 

Purchases of Stock-in-Trade

0.000

0.000

0.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

20.067

(97.565)

(143.057)

 

Employees benefits expense

140.777

86.790

51.206

 

Other expenses

71.642

328.742

189.444

 

TOTAL

1242.864

1027.325

980.411

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

109.043

126.344

87.984

 

 

 

 

 

Less

FINANCIAL EXPENSES

51.584

70.093

43.464

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

57.459

56.251

44.520

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

17.206

14.910

10.968

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

40.253

41.341

33.552

 

 

 

 

 

Less

TAX

11.687

17.513

11.499

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

28.566

23.828

22.053

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.10)

6.86

5.73

5.30

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin PAT/ Sales

(%)

2.12

2.07

2.07

 

 

 

 

 

PBIDT / Sales

(%)

8.10

10.99

8.25

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.76

4.27

4.59

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.16

0.18

0.16

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.53

1.98

1.94

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.17

1.14

1.20

 

 

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

41.615

41.615

41.615

Reserves & Surplus

164.598

188.426

216.991

 Share Application money pending allotment

0.765

0.765

0.765

Net worth

206.978

230.806

259.371

 

 

 

 

long-term borrowings

15.025

15.492

47.595

Short term borrowings

386.008

440.908

608.337

Total borrowings

401.033

456.400

655.932

Debt/Equity ratio

1.938

1.977

2.529

 

 

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

1066.451

1149.519

1346.017

 

 

7.789

17.094

 

 

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

1066.451

1149.519

1346.017

Profit

22.053

23.828

28.566

 

2.07%

2.07%

2.12%

 

 

 

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

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

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

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

Yes

 

 

LITIGATION DETAILS

 

 

HIGH COURT OF GUJARAT

 

 

COMPANY PETITION No. 257 of 2013

 

 

 

Status : PENDING

( Converted from : O/ST/2465/2013 )

CCIN No : 001058201300257

 

 

Next Listing Date:

22/01/2015

 

Coram

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

·          

 

 

 

S.NO.

Name of the Petitioner

Advocate On Record

1

SURECON FASTENING AND ENGINEERING PVT LTD

MR ANIP A GANDHI for: Petitioner(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

S.NO.

Name of the Respondant

Advocate On Record

1

ACCORD INDUSTRIES LTD

MR. AAMIR S PATHAN for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

 

Presented On

: 13/09/2013

Registered On

: 03/10/2013

Bench Category

: -

District

: AHMEDABAD

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 27 times

StageName

: FOR FINAL HEARING

 

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

13/09/2013

VAKALATNAMA

MR ANIP A GANDHI ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR ANIP A GANDHI(2268) for P:1

2

13/09/2013

MEMO OF APPEAL/PETITION/SUIT

MR ANIP A GANDHI ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

100

MR ANIP A GANDHI(2268), for P:1

3

24/12/2013

AFFIDAVIT OF DS

MR ANIP A GANDHI ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MR ANIP A GANDHI(2268) for P:1

4

04/04/2014

AFFIDAVIT OF DS

MR ANIP A GANDHI ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MR ANIP A GANDHI(2268) for P:1

5

15/04/2014

VAKALATNAMA

MR. AAMIR S PATHAN ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR. AAMIR S PATHAN(7142) for R:1

 

 

COURT PROCEEDINGS

 

 

S. No.

Notified Date

Court Code

Board Sr. No.

Stage

Action

Coram

1

08/10/2013

15

5-

FOR OFFICE OBJECTION

NEXT DATE

·         HONOURABLE MR.JUSTICE K.M.THAKER

2

12/11/2013

15

2

ADMISSION (FRESH MATTERS)

FIXED NOTICE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

3

12/12/2013

15

28

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

4

26/12/2013

15

42

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

5

15/01/2014

15

16

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

6

31/01/2014

15

20

NOTICE RETURNABLE MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

7

14/02/2014

15

42

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

8

04/03/2014

15

41

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

9

11/03/2014

9

49

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT 

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

10

19/03/2014

9

54

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

11

25/03/2014

9

91

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

12

31/03/2014

9

33

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

13

07/04/2014

9

32

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

14

29/04/2014

9

52

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

15

19/06/2014

9

47

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

16

01/07/2014

9

38

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

17

14/07/2014

9

44

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

18

24/07/2014

9

42

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

19

13/08/2014

9

56

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

20

28/08/2014

18

43

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT 

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

21

11/09/2014

17

51

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

22

26/09/2014

17

50

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

23

16/10/2014

18

26

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

24

14/11/2014

18

47

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

25

04/12/2014

18

56

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

26

16/12/2014

18

58

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

27

22/01/2015

18

58

FOR FINAL HEARING

 

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

 

 

AVAILABLE ORDERS

 

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

1

COMPANY PETITION/257/2013

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

12/11/2013

N

ORDER

-

Y

2

COMPANY PETITION/257/2013

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

31/01/2014

N

ORDER

-

Y

3

COMPANY PETITION/257/2013

·         HONOURABLE MR.JUSTICE S.R.BRAHMBHATT

07/04/2014

N

ORDER

-

Y

 

 

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

Long-term Borrowings

 

 

Loans and advances from others

0.000

1.676

 

 

 

Total

0.000

1.676

 

OPERATIONS

Sales / income from operations at Rs. 1346.617 Millions registered and increase over 17.09% as compared to the previous years' sale of Rs.1149.519 Millions. Other income includes income from interest received from bank and other parties and other misc. income.

 

NOTE :

The registered office of the company has been shifted from Shukla Nagar, EME Circle, Sama Road,

Vadodara – 390006, Gujarat, India to the present address w.e.f. 30.12.2013.

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10456830

26/09/2013

2,913,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ 
ARAT - 390015, INDIA

B88219993

2

10391639

25/11/2012

11,547,113.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

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

B63996037

3

10291765

09/05/2011

35,000,000.00

INDIAN OVERSEAS BANK

ALKAPURI BRANCH,, GROUND FLOOR, DARPAN APARTMENTS 
,, VADODARA, GUJARAT - 390007, INDIA

B14843809

4

10165173

04/07/2009

475,000.00

AXIS BANK LIMITED

2ND FLOOR, VARDHAMAN COMPLEX,, BESIDES PIZZA HUT, 
RACE COUSE, VADODARA, GUJARAT - 390007, INDIA

A65204455

5

10095579

09/01/2014 *

674,800,000.00

INDIAN OVERSEAS BANK

ALKAPURI BRANCH,GROUND FLOOR,, DARPAN APARTMENTS 
,, VADODARA, GUJARAT - 390007, INDIA

B98008873

6

10095580

05/03/2014 *

715,800,000.00

INDIAN OVERSEAS BANK

GROUND FLOOR, DARPAN BUILDING,, R C DUTT ROAD,, V 
ADODARA, GUJARAT - 390007, INDIA

B98487515

 

* Date of charge modification

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Factory building
  • Plant and equipment
  • Factory equipments
  • Furniture and fixtures
  • Office equipment
  • Computer equipments

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 records 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.63.64

UK Pound

1

Rs.98.98

Euro

1

Rs.77.74

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SNT


 

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

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

4

--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

NO

--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.