|
Report Date : |
13.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
DRIVE INDIA ENTERPRISE SOLUTIONS LIMITED (w.e.f. 30.03.2007) |
|
|
|
|
Formerly Known
As : |
DRIVEINDIACOM LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Kamla Executive Park, Andheri (East), Mumbai -
400059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.04.2000 |
|
|
|
|
Com. Reg. No.: |
11-126195 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 51.204 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2000PLC126195 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD12064D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD5823E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
·
Trading in handsets and telecom accessories. ·
Providing Logistics services |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 830000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a “Tata Group Company”. The company is owned by “Tata International Limited” (50%) and “Tata
Industries Limited” (50%). It is an established company having satisfactory
track record. There appears sharp dip sales turnover of the company and it has
incurred losses from its operational activities during the 2013. External
borrowings appear to be huge. However the ratings take into consideration the strong financial and
management support from subject group company i.e “Tata Group”. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of strong holdings, the company can be considered 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.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “A+ (SO)” |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
29.04.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB+” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
29.04.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3+” |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
29.04.2013 |
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 BY
Management non-cooperative
Tel. No.: 91-22-67779000
LOCATIONS
|
Registered/ Corporate Office : |
7th Floor, Kamla Executive Park, Andheri (East), Mumbai - 400059,
Maharashtra |
|
Tel. No.: |
91-22-67779000 |
|
Fax No.: |
91-22-67779001/ 9002 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 25.07.2013
|
Name : |
Mr. Rameshwar Singh Thakur |
|
Designation : |
Additional Director |
|
Address : |
Flat No.205, Burlington, Hiranandani Estate, Patlipada, Thane (West),
Mumbai-400607, Maharashtra, India |
|
Date of Birth/Age : |
06.09.1948 |
|
Qualifications: |
Bachelors Degree in Mechanical Engineering , Masters Degree in Business Management from XLRI and Chartered Management Accountant from CIMA, London |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00020126 |
|
|
|
|
Name : |
Mr. Noel Naval Tata |
|
Designation : |
Additional Director |
|
Address : |
Windmere Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1956 |
|
Qualifications: |
B.A.(in Economics from sussex university, London) |
|
Date of Appointment : |
01.11.2010 |
|
DIN No.: |
00024713 |
|
|
|
|
Name : |
Mr. Ajay Murlidhar Ponkshe |
|
Designation : |
Director |
|
Address : |
Flat No.3 1st Floor, Yashodhan, Sahayog Mandir Path,
Naupada Thane – 400 601, |
|
Date of Birth/Age : |
27.02.1960 |
|
Qualifications: |
B.COM., ACA, ACS |
|
Date of Appointment : |
16.07.2007 |
|
DIN No.: |
01663073 |
|
|
|
|
Name : |
Mr. Kanwar Rameshwar Singh Jamwal |
|
Designation : |
Additional Director |
|
Address : |
73-A, Maker Towers, Chsl, Cuffe Parade, Mumbai-400005, Maharashtra,
India |
|
Date of Birth/Age : |
11.10.1965 |
|
Qualifications: |
BE in Technology in petroleum, PG in management |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
03129908 |
|
|
|
|
Name : |
Mr. Milind Madhav Shahane |
|
Designation : |
Executive Director and Chief Executive Officer |
|
Address : |
C-22, Swapnaship Apartments, 52, Mahant Road, Vile Parle, (East),
Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1963 |
|
Qualifications: |
B T E C H , MS(CHEMICAL)IIT-MUMBAI,MBA IIM(AHMEDABAD) |
|
Date of Appointment : |
26.09.2012 |
|
PAN No.: |
AAEPP6047Q |
|
DIN No.: |
03291774 |
KEY EXECUTIVES
|
Name : |
Mr. Vishal Shah |
|
Designation : |
Secretary |
|
Address : |
A-604, Poonam Enclave, Opposite Wagheshwari Temple, Film City Road,
Malad (East), Mumbai – 400097, Maharashtra, India |
|
Date of Birth/Age : |
02.05.1976 |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
ANZPS0103N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Tata Industries Limited, India |
|
2560144 |
|
Tata Industries Limited, |
|
10 |
|
Tata Industries Limited, India Jointly With K K Bhatt |
|
10 |
|
Tata Industries Limited, India Jointly With Dhirendrasingh Kushwah |
|
10 |
|
Tata Industries Limited, India Jointly With Mr. S. Sriram |
|
10 |
|
Tata Industries Limited, India Jointly With Deepika Bhagwagar |
|
10 |
|
Tata International Limited, India |
|
2560206 |
|
|
|
|
|
Total |
|
5120400 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.07.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
·
Trading in handsets and telecom accessories. ·
Providing Logistics services |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· Australia and New Zealand Banking Group Limited, Cynergy, A-1 Ground floor and A-6th Floor, Appa Saheb Marathe Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India · Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th To 32nd Floor, Indiabulls Finance Center, Elphinstone Mill Compound, Senapati Bapat Marg, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding company: |
·
Tata International Limited, India CIN: U51900MH1962PLC012528 |
|
|
|
|
Ultimate Holding company: |
·
Tata Sons Limited, India CIN: U99999MH1917PLC000478 |
|
|
|
|
Associate: |
·
Tata Industries Limited, India CIN: U44003MH1945PLC004403 |
|
|
|
|
Fellow Subsidiary company: |
·
Tata Consultancy Services Limited, India CIN: L22210MH1995PLC084781 ·
Tata Sky Limited, India CIN: U92120MH2001PLC130365 ·
Tata Teleservices Limited, India CIN: U74899DL1995PLC066685 ·
Tata Teleservices(Maharashtra) Limited, India CIN: L64200MH1995PLC086354 ·
Tata Petrodyne Limited, India CIN: U11100MH1993PLC134095 ·
Tata Autocomp Systems Limited, India CIN: U34100MH1995PLC093733 · Tata Autocomp Systems Limited CIN: U34100MH1995PLC093733 ·
VIOM Networks Limited, India CIN: U72200DL2004PLC228400 ·
Tata Advanced Materials Limited, India CIN: U85110KA1989PLC013224 ·
Tata Lockheed Martin Aerostructures Limited,
India CIN: U29268AP2010PLC077940 ·
Infiniti Retail Limited, India CIN: U31900MH2005PLC158120 ·
Tata Aig General Insurance Company Limited CIN: U85110MH2000PLC128425 |
CAPITAL STRUCTURE
As on: 25.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5120400 |
Equity Shares |
Rs.10/- each |
Rs. 51.204
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 |
51.204 |
51.204 |
8.534 |
|
(b) Reserves & Surplus |
158.063 |
543.322 |
697.354 |
|
(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) |
209.267 |
594.526 |
705.888 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
5.960 |
|
(c) Other long term liabilities |
2.329 |
2.474 |
3.261 |
|
(d) long-term provisions |
16.846 |
24.446 |
19.127 |
|
Total Non-current Liabilities (3) |
19.175 |
26.920 |
28.348 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2413.203 |
3329.715 |
1477.653 |
|
(b) Trade payables |
937.153 |
2445.630 |
2345.655 |
|
(c) Other current liabilities |
215.555 |
365.601 |
257.968 |
|
(d) Short-term provisions |
3.644 |
5.935 |
44.739 |
|
Total Current Liabilities (4) |
3569.555 |
6146.881 |
4126.015 |
|
|
|
|
|
|
TOTAL |
3797.997 |
6768.327 |
4860.251 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
453.030 |
469.748 |
451.632 |
|
(ii) Intangible Assets |
89.549 |
83.728 |
57.202 |
|
(iii) Capital work-in-progress |
0.000 |
24.709 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
70.609 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
22.090 |
0.000 |
|
(d) Long-term Loan and Advances |
378.990 |
312.519 |
300.538 |
|
(e) Other Non-current assets |
215.789 |
323.873 |
0.049 |
|
Total Non-Current Assets |
1137.358 |
1236.667 |
880.030 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1.925 |
0.000 |
0.000 |
|
(b) Inventories |
1006.864 |
2076.099 |
1998.249 |
|
(c) Trade receivables |
1162.518 |
1674.431 |
1378.835 |
|
(d) Cash and cash equivalents |
132.018 |
950.926 |
289.662 |
|
(e) Short-term loans and advances |
247.591 |
260.332 |
278.387 |
|
(f) Other current assets |
109.723 |
569.872 |
35.088 |
|
Total Current Assets |
2660.639 |
5531.660 |
3980.221 |
|
|
|
|
|
|
TOTAL |
3797.997 |
6768.327 |
4860.251 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7723.712 |
13318.222 |
10447.891 |
|
|
|
Other Income |
93.022 |
60.705 |
123.615 |
|
|
|
TOTAL (A) |
7816.734 |
13378.927 |
10571.506 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
3797.995 |
9852.631 |
7146.614 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
1069.235 |
(77.850) |
46.510 |
|
|
|
Employee benefit expense |
312.641 |
393.046 |
331.891 |
|
|
|
Other expenses |
2744.601 |
3000.117 |
2660.233 |
|
|
|
Exceptional items |
120.000 |
120.000 |
0.000 |
|
|
|
TOTAL (B) |
8044.472 |
13287.944 |
10185.248 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(227.738) |
90.983 |
386.258 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
41.656 |
93.348 |
96.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(269.394) |
(2.365) |
289.888 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
93.775 |
111.310 |
73.205 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(363.169) |
(113.675) |
216.683 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.090 |
(2.313) |
332.982 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(385.259) |
(111.362) |
(116.299) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
543.000 |
654.400 |
590.400 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve and Dividend
(Including Tax) |
0.000 |
0.000 |
52.300 |
|
|
BALANCE CARRIED
TO THE B/S |
157.741 |
543.000 |
654.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service income |
0.000 |
61.100 |
45.600 |
|
|
TOTAL EARNINGS |
0.000 |
61.100 |
45.600 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
NA |
4.563 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
NA |
NA |
5813.645 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(75.24) |
(21.75) |
22.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(4.92) |
(0.83) |
(1.10) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.70) |
(0.85) |
2.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.56) |
(1.69) |
4.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.73) |
(0.19) |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
11.53 |
5.61 |
2.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.75 |
0.90 |
0.97 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE: Registered office has been shifted from G-1 and 2, New Udyog Mandir 2,
Mogul Lane, Mahim (West), Mumbai, Maharashtra, India to the present address
w.e.f. 01.02.2009
OPERATING RESULTS AND
BUSINESS
The Company has achieved an overall turnover of Rs. 7816.700 millions (Rs. 13378.900 millions during 2011-12), a decrease of 42% as compared with the previous year. The turnover has two major components, Trading goods Rs.5096.700 millions (previous year Rs. 10290.700 millions) and Provision of Services - Rs. 2627.000 millions (previous year Rs.3011.500 millions).
The trading of goods as compared with the previous year went down by 51%, due to lower mobile handset sales. There has been a de growth in Trading of goods in areas such as telecommunication equipment, GSM handsets, etc.
The Service Business portfolio (Warehousing, Distribution and Value added services), as compared with previous year went down by 13% due to loss of customers like Tata International, Mary Kay, Croma, Landmark, etc.
The generally unstable and uncertain economic situation, both domestically and globally, and the inconsistent performance of the Indian currency over the past year in particular has impacted the logistics industry and resulted in a general decline in exports and manufacturing.
The Loss for the period ended 31st March 2013 was Rs. 385.300 millions. The current period deficit in the statement of Profit and Loss account has been impacted largely on account of Provisions for doubtful trade receivables.
FUTURE OUTLOOK
The Indian Logistics market is estimated by Mckinsey to be Rs.5500000.000 millions in FY 12-13 and expected to grow at CAGR of 9-11% to reach Rs.7320500.000 millions by 2015. The Indian 3PL market is expected to grow at a CAGR of 25% to reach Rs. 314330.000 millions by 2015 (Source: TSMG). Of the total logistics market in India, Transportation is the largest segment with 62% share followed by Warehousing 26%, Freight Forwarding 8% and Value Added Services (VAS) 4%. Your Company is well positioned to grow exponentially across these segments.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10459010 |
22/10/2013 |
1,300,000,000.00 |
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED |
CYNERGY, A-1 GROUND FLOOR AND A-6TH FLOOR, APPA SAHEB MARATHE MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B89052161 |
|
2 |
10452940 |
09/10/2013 |
1,125,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B86614476 |
|
3 |
10007989 |
31/03/2006 |
2,000,000,000.00 |
CORPORATION BANK |
BHARAT HOUSE, 104, B.S. MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A00692087 |
|
4 |
90145628 |
24/10/2008 * |
5,000,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A49125198 |
|
5 |
90145175 |
31/03/2006 * |
700,000,000.00 |
UNION BANK OF INDIA LIMITED |
MAHARASHTRA, INDIA |
- |
|
6 |
90145167 |
31/03/2006 * |
1,000,000,000.00 |
PUNJAB NATIONAL BANK |
BRADY HOUSE, 12/14 V N ROAD, FORT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
7 |
90143909 |
07/05/2002 |
300,000,000.00 |
IDBI BANK LIMTED |
224-A; MITTAL COURT, A-WING; 2ND FLOOR; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
·
Other 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 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. 61.93 |
|
|
1 |
Rs. 102.06 |
|
Euro |
1 |
Rs. 84.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.