|
Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
INDO FARM EQUIPMENT LIMITED |
|
|
|
|
Formerly Known
As : |
WELCUT TOOLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SCO 859, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.10.1994 |
|
|
|
|
Com. Reg. No.: |
16-15132 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 90.679 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29219CH1994PLC015132 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLI10730G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW1982A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Power Generators Alternators and Cranes Forklifts. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is well-established company having satisfactory track record. Profitability of the company appears to be fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
Uptick in
agriculture and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
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
31-03-2012.
INFORMATION DECLINED
Management non-cooperative
Tel. No.: 91-1795-274241-248
LOCATIONS
|
Registered Office : |
SCO 859, NAC Kalka Road, Manimajra-160101, Chandigarh, India |
|
Tel. No.: |
91-172-2736901/ 2736974 |
|
Fax No.: |
91-172-2734913 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office/ Factory : |
|
|
Tel. No.: |
91-1795-274241 (8 Lines) |
|
Fax No.: |
91-1795-274308-309 |
|
|
|
|
Regional Office: |
Located at: ·
Uttar Pradesh ·
Bihar ·
Maharashtra ·
Rajasthan ·
Gujarat ·
Madhya Pradesh ·
Andhra Pradesh ·
Karnataka |
DIRECTORS
As on: 26.07.2013
|
Name : |
Mr. R S Khadwalia |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
H. No. 103, Sector 6, Panchkula-134109, Haryana, India |
|
Date of Birth/Age : |
31.10.1960 |
|
Qualification : |
Diploma in Mech. Engg. |
|
Date of Appointment : |
05.10.1994 |
|
PAN No.: |
ABBPK3777A |
|
DIN No.: |
00062154 |
|
|
|
|
Name : |
Ms. Sunita Saini |
|
Designation : |
Whole Time Director |
|
Address : |
H. No. 103, Sector 6, Panchkula-134109, Haryana, India |
|
Date of Birth/Age : |
09.06.1969 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.10.1994 |
|
PAN No.: |
ABZPS6273M |
|
DIN No.: |
00062113 |
|
|
|
|
Name : |
Mr. S P Mittal |
|
Designation : |
Director |
|
Address : |
H. No. 334, Sector 10, Panchkula-134109, |
|
Date of Birth/Age : |
15.04.1959 |
|
Date of Appointment : |
05.10.1994 |
|
PAN No.: |
AAVPM2083Q |
|
DIN No.: |
00686893 |
|
|
|
|
Name : |
Mr. Mewa Singh Turan |
|
Designation : |
Director |
|
Address : |
E 6, University Campus, |
|
Date of Birth/Age : |
15.04.1957 |
|
Date of Appointment : |
16.04.2006 |
|
DIN No.: |
00162014 |
|
|
|
|
Name : |
Mr. Raghbir Singh |
|
Designation : |
Director |
|
Address : |
H. No. 289, Mansa Devi Complex, Sector -4, Panchkula-134114, |
|
Date of Birth/Age : |
12.06.1937 |
|
Date of Appointment : |
16.04.2006 |
|
PAN No.: |
ARDPS3139A |
|
DIN No.: |
00146072 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Jain |
|
Designation : |
Whole time director |
|
Address : |
H. No. 306, Sector 9, Panchkula-134109, Haryana, India |
|
Date of Birth/Age : |
25.05.1958 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AASPJ0697C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
R |
|
6009000 |
|
Sunita Saini |
|
1699120 |
|
S P Mittal |
|
109990 |
|
Futuristic Mining and Construction Solutions Limited, |
|
1092990 |
|
K and A Forge Limited, |
|
91800 |
|
Nirmal Mittal |
|
40000 |
|
Preeti Mittal |
|
21000 |
|
Attar Singh Saini |
|
2000 |
|
Ritu Saini |
|
2000 |
|
Total |
|
9067900 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.07.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
13.07 |
|
Directors or relatives of directors |
|
86.93 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Power Generators Alternators and Cranes Forklifts. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Canara Bank, SCO 255-256, Sector 44C,
Chandigarh-160047, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Datta Singla and Company Chartered Accountants |
|
Address : |
SCO 2935-36, Level 1, Sector
22C, Chandigarh-16022, |
|
PAN No.: |
AAAFD8577H |
CAPITAL STRUCTURE
As on: 26.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9067900 |
Equity Shares |
Rs.10/- each |
Rs. 90.679
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 |
90.679 |
90.679 |
90.679 |
|
(b) Reserves & Surplus |
1348.602 |
1261.647 |
1182.896 |
|
(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) |
1439.281 |
1352.326 |
1273.575 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
76.077 |
45.990 |
108.878 |
|
(b) Deferred tax liabilities (Net) |
66.070 |
60.094 |
50.696 |
|
(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) |
142.147 |
106.084 |
159.574 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
576.262 |
508.051 |
355.084 |
|
(b)
Trade payables |
178.371 |
177.292 |
203.675 |
|
(c)
Other current liabilities |
125.096 |
160.798 |
117.604 |
|
(d) Short-term
provisions |
31.175 |
28.529 |
66.099 |
|
Total Current
Liabilities (4) |
910.904 |
874.670 |
742.462 |
|
|
|
|
|
|
TOTAL |
2492.332 |
2333.080 |
2175.611 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
629.597 |
610.218 |
574.582 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
7.243 |
22.913 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.215 |
0.215 |
0.215 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.074 |
8.394 |
8.736 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
637.886 |
626.070 |
606.446 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
827.477 |
768.056 |
679.648 |
|
(c)
Trade receivables |
764.815 |
721.724 |
580.669 |
|
(d) Cash
and cash equivalents |
44.298 |
11.180 |
92.483 |
|
(e)
Short-term loans and advances |
217.856 |
206.050 |
216.365 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1854.446 |
1707.010 |
1569.165 |
|
|
|
|
|
|
TOTAL |
2492.332 |
2333.080 |
2175.611 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2067.430 |
1895.581 |
1619.382 |
|
|
|
Other Income |
55.002 |
62.884 |
69.333 |
|
|
|
TOTAL (A) |
2122.432 |
1958.465 |
1688.715 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1438.909 |
1383.785 |
1155.111 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(16.243) |
(64.669) |
(110.761) |
|
|
|
Employee benefit expense |
159.609 |
175.956 |
154.996 |
|
|
|
Other expenses |
280.699 |
229.632 |
205.250 |
|
|
|
TOTAL (B) |
1862.974 |
1724.704 |
1404.596 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
259.458 |
233.761 |
284.119 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
98.037 |
85.021 |
48.338 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
164.421 |
148.740 |
235.781 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
38.134 |
35.764 |
35.386 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
123.287 |
112.976 |
200.395 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.351 |
30.399 |
4.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
88.936 |
82.577 |
196.317 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
82.577 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
0.000 |
20.000 |
|
|
|
Dividend |
NA |
0.000 |
18.136 |
|
|
|
Tax on Dividend |
NA |
0.000 |
30.12 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
82.577 |
153.055 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.81 |
9.11 |
21.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.20 |
4.21 |
11.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.96 |
5.96 |
12.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.95 |
4.86 |
9.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.08 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.45 |
0.41 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
1.95 |
2.11 |
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
CASE DETAILS
Status of CRIMINAL MISCELLANEOUS PETITION 49612 of 2012
M/S ATUL AUTO & TRACTORS & ANR. Vs. M/S INDO FARM EQUIPMENT LTD.
Pet's Adv. : YOGESH GOEL
Last Listed On : 24 August 2012
List Type : NO LIST TYPE MENTIONED
FIR No. : NO FIR DETAILS AVAILABLE / NOT A CRIMINAL CASE
Complaint No. : NO COMPLAINT DETAILS AVAILABLE
Category : QUASHING PETITIONS I/O
:NO BENCH MENTIONED
Last Hearing Detail 2 : NO BENCH MENTIONED
|
CONNECTED APPLICATION (S) No Connected Application |
CONNECTED MATTER (S) CRM 49613 of 2012 |
Case Updated
on: 23 August 2012
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Other loans and advance |
5.555 |
0.901 |
|
|
|
|
|
Total |
5.555 |
0.901 |
BUSINESS PERFORMANCE
During the year, though the tractor division sold 3420 tractors as against 2797 tractors in the previous year registering an increase of 22.27%, the mobile crane division registered decline in sales of Pick "n" Carry Cranes from 504 to 313 due to slow down in infrastructure activities and depressed economy scenario in the country. However, the overall turnover of the company has registered growth of 9% from 1895.500 millions to 2067.400 millions. The profit before tax increased from 1129.76 to 1232.86 due to better profit margins.
The company has taken a number of measures for increasing share of its products in domestic and international market. These include opening of companys own retail outlets, tie ups, in addition to public sector banks, with a number of leading private financial institutions and banks like Magma Fin Corp. limited, Srei equipment Finance Private limited, Hinduja Leyland Finance limited, IDBI Bank, Axis Bank, IndusInd Bank limited etc. The company has also taken steps for further strengthening of company's dealers' network in the Indian Market. With all these measures, the directors expect substantial improvement in company's performance during the ensuing year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10369758 |
09/08/2012 |
90,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B45397478 |
|
2 |
10327730 |
26/12/2011 |
20,000,000.00 |
AXIS BANK LIMITED |
SCO 343-344, SECTOR 35B, CHANDIGARH, CHANDIGARH - |
B29299252 |
|
3 |
10230803 |
05/06/2010 |
30,000,000.00 |
CANARA BANK |
SECTOR 44C, CHANDIGARH, CHANDIGARH - 160047, INDIA |
A90528563 |
|
4 |
10177448 |
19/09/2009 |
5,000,000.00 |
CANARA BANK |
SECTOR 44C, CHANDIGARH, CHANDIGARH - 160044, INDIA |
A70313986 |
|
5 |
90176255 |
09/03/2003 * |
89,200,000.00 |
CANARA BANK |
SECTOR - 44D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
6 |
90312474 |
09/03/2003 * |
89,200,000.00 |
CANARA BANK |
SEC - 44 - D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
7 |
90172787 |
09/03/2003 * |
84,200,000.00 |
CANARA BANK |
SECTOR - 44D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
8 |
90311809 |
09/03/2003 * |
84,200,000.00 |
CANARA BANK |
SEC - 44 - D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
9 |
90174135 |
15/11/2002 |
5,000,000.00 |
CANARA BANK |
SECTOR - 44D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
10 |
90311801 |
15/11/2002 |
5,000,000.00 |
CANARA BANK |
SEC - 44 - D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
11 |
90311531 |
08/02/2002 * |
52,000,000.00 |
CANARA BANK |
SEC - 44 - D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
12 |
90176254 |
09/03/2003 * |
74,200,000.00 |
CANARA BANK |
SECTOR - 44D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
13 |
90312459 |
09/03/2003 * |
74,200,000.00 |
CANARA BANK |
SEC - 44 - D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
14 |
90312456 |
26/06/2013 * |
940,000,000.00 |
CANARA BANK |
SCO 255-256, SECTOR 44-C, CHANDIGARH, CHANDIGARH - 160047, INDIA |
B79668166 |
|
15 |
90175131 |
22/08/2000 |
10,500,000.00 |
CANARA BANK |
SECTOR - 44D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
16 |
90173840 |
27/07/2005 * |
52,000,000.00 |
CANARA BANK |
SECTOR - 44D, CHANDIGARH, CHANDIGARH, INDIA |
- |
|
17 |
90311467 |
27/07/2005 * |
52,000,000.00 |
CANARA BANK |
SEC - 44 - D, CHANDIGARH, CHANDIGARH, INDIA |
- |
* Date of charge modification
Fixed Assets:
·
·
·
·
Residential Building
·
Plant and Machinery
·
Electrical Installation
·
Tools and Dies
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
·
·
Moulds
·
Patterns
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. 61.90 |
|
|
1 |
Rs. 102.74 |
|
Euro |
1 |
Rs. 85.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.